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September 27, 2023

Questionable Move: Crypto Exchange Binance Transfers Russian Operation To CommEX.

Binance announced an agreement to transfer its entire Russian operations to CommEX, a crypto exchange established as recently as September 26, 2023. The centralized crypto exchange is operated by CommEX Holding Limited, a company incorporated in the Seychelles. However, the terms of CommEX specify Hong Kong as the governing law. However, the important deal also raises questions.

September 26, 2023

Why Western Taxpayers Should Not Fund The Ukraine War But The Seized Russian Assets Should!

A growing chorus of voices suggests that the financial burden of supporting Ukraine in its war against Russia should not fall on the shoulders of Western taxpayers. Instead, they argue, the proceeds from the seized assets of Russian oligarchs and wealthy individuals should be used to finance the war effort. Using already seized funds and liquidation seized yachts and jets could bring in many billions and relieve taxpayers.

September 24, 2023

Interesting: Mercuryo CEO Petr Kozyakov About The Hacker War Against The Crypto Universe!

Russian Peter Kozyakov is the CEO of crypto payment processor Mercuryo, which has been in the news lately for losing lawsuits on FinTelegram. Kozyakov and his Mercuryo are part of the international crypto scene and are also very familiar with the dark side of the crypto universe. In this respect, it is not surprising that Kozyakov writes an article worth reading on Hackernoon about the war of hackers against the crypto world.

September 24, 2023

People Radar: Meet Rock Star Investor and Crypto Advocate Cathie Wood!

Cathie Wood is certainly a Rock Star investor and bullish about tech and cryptocurrencies. Born in November 1955 in Los Angeles, California, she is best known as the founder, CEO, and CIO of ARK Invest, a leading investment management firm. She is arguably the world's most influential investor in technology today and has earned a reputation as an evangelist for disruptive innovations. Meet her on FinTelegram.

September 23, 2023

Gen Z Hackers And The Dawn Of The New Cybercrime Age!

Palo Alto Networks has uncovered a new breed of cyberattacks led by groups known by names like Scattered Spider, UNC3944, or ALPHV. These hackers believed to be young individuals from Western countries, employ advanced impersonation techniques to breach major corporations. This trend suggests that as the digital-native Gen Z enters the scene, cybercrime is poised to evolve, heralding a new era of sophisticated digital threats.

September 23, 2023

The SEC Charges New York Firm Concord Management with Acting as Unregistered Investment For Roman Abramovich!

The U.S. SEC has levied charges against New York-based Concord Management LLC and its founder, Michael Matlin, for functioning as unregistered investment advisers. Their sole client was the Russian oligarch Roman Abramovich, the New York Times reported. Authorities froze over $13 billion; some of those assets were believed to be investments Concord had made for Abramovich.

September 22, 2023

Court Battle: Binance Moved To Dismiss SEC Lawsuit!

Binance, Binance.US, and Changpeng Zhao (CZ) have moved to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC), arguing that the regulator has not convincingly alleged certain securities-related breaches. They further contend that the SEC is attempting to bring digital assets under its supervision, even though U.S. Congress has not clearly defined such a directive. In June, the SEC initiated legal action against the Binance Group.

September 22, 2023

Additional Lawsuits Filed By FTX Estate Against Former Partners For Alleged Misuse Of Funds.

The insolvency proceedings concerning the U.S. digital currency platform FTX continue to evolve. As reported, FTX has initiated legal action against the parents of its founder and former CEO, Sam Bankman-Fried (SBF), alleging misappropriation and seeking restitution of funds. Prior to the formal declaration of FTX's insolvency, termed the "Preference Period," the named parties allegedly benefited from transactions deemed as preferential transfers, as per the legal documentation.

September 21, 2023

Dark Banker And Owner Of FCA-Regulated Payment Institution Extradited Over Money-Laundering Charges.

A UK Court ruled that the Italian national Caio Marchesani, director and owner of FCA-regulated Trans-Fast Remittance Ltd, must be extradited to Belgium over allegations of laundering significant sums via cryptocurrency for criminal syndicates. Bloomberg reports suggest that Marchesani facilitated major crypto transactions for a renowned criminal group, a scale seldom witnessed by European legal authorities.

September 20, 2023

Global Multi-Asset Broker Tickmill Included In Green Compliance List!

Tickmill is a global broker scheme regulated in various jurisdictions. In the EEA, the broker is regulated by the Cypriot CySEC, and in the UK by the FCA. Retail traders who provide an EEA address during onboarding can only register with the CySEC-regulated Tickmill. UK residents are only accepted at the FCA-regulated entity. The rest of the world will be processed through the FSA-regulated Seychelles entity. We have added Tickmill to our Green Compliance list.

September 20, 2023

CySEC-Regulated FP Markets And Its Offshore Mutation Placed On Orange Compliance List!

The offshore broker FP Markets is operated through FP Markets LLC, registered in St. Vincent & The Grenadines and related to the CySEC-regulated broker of the same name. The only discernible difference between the CySEC-regulated and the unregulated offshore broker is the domain. The offshore mutation of FP Markets was recommended to us via Daily Forex. The KYC at onboarding does not comply with ESMA requirements. We have added FP Markets to our Orange Compliance list.

September 19, 2023

Offshore Broker PocketOption Addresses The Russian Market With A Network Of Domains And Websites!

We downgraded Russian-controlled offshore broker PocketOption to our black compliance list a few weeks ago in light of its numerous regulatory warnings. In recent months, PocketOption a/k/a PO Trade a/k/a PO has also addressed the Russian market, which is actually blocked by Western sanctions, through a network of new domains and websites and acquired retail traders. Here is an update on PocketOption.