Genesis Global Trading, a cryptocurrency firm, has agreed to a settlement with the New York Department of Financial Services (NYDFS). As part of the settlement, the company has relinquished its right to operate within the state. The NYDFS has clarified that the settlement impacts Genesis Global Trading, which is a separate entity from Genesis Global […]
Genesis Global Trading, a subsidiary of Digital Currency Group, has been ordered to pay an $8 million fine and surrender its BitLicense, according to the New York Department of Financial Services (NYDFS). The penalty comes as a result of significant failings in the crypto platform’s anti-money laundering and cybersecurity programs, as revealed by NYDFS investigations.Superintendent […]
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), has acknowledged the significance of Grayscale’s court victory in the approval of spot Bitcoin exchange-traded funds (ETFs). Despite the SEC’s history of denying similar applications since 2013, Gensler revealed in an interview with CNBC’s Squawk Box that the court’s decision in favor of Grayscale […]
The U.S. Securities and Exchange Commission (SEC) recently approved the first spot-based Bitcoin Exchange-Traded Funds (ETFs), marking a significant milestone in the cryptocurrency industry. The approval came after a decade-long wait since the first application by the Winklevoss twins. The anticipation was high, and the first trading day did not disappoint, with fund shares worth […]
Larry Fink, the CEO of BlackRock, has compared Bitcoin to gold, following the launch of spot Bitcoin ETFs. Despite this, he predicts a limited future for cryptocurrencies as a form of currency. In a discussion with CNBC about digital assets, ETFs, and tokenization, Fink revealed that BlackRock, the world’s largest asset manager, sees potential in […]
The cryptocurrency market has witnessed a significant development with the approval of Bitcoin (BTC) exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). Larry Fink, the CEO of BlackRock and a seasoned veteran in the financial industry, has made noteworthy statements regarding BTC and expressed interest in an Ethereum (ETH) spot ETF.In a […]
Despite the United States approving 11 spot bitcoin exchange-traded funds (ETFs) earlier this week, South Korea has reiterated its ban on crypto ETFs. The country’s financial institutions are prohibited from owning or buying crypto and investing in businesses offering crypto. The Financial Services Commission (FSC) of South Korea continues to restrict financial institutions from launching […]
CoinShares, a leading European crypto asset manager, has made a significant stride into the U.S. market by acquiring the exchange-traded fund (ETF) unit of Valkyrie Investments, a Nashville-based company. This strategic move follows the recent approval of spot bitcoin ETFs by the Securities and Exchange Commission (SEC), including Valkyrie’s Bitcoin Fund (BRRR), which debuted on […]
Cryptocurrency firm Genesis Global Trading has reached a settlement with the New York Department of Financial Services (NYDFS), resulting in the company relinquishing its operational rights in the state.As per an announcement made on January 12, Genesis has agreed to pay a hefty fine of $8 million to the NYDFS. In addition to this, the […]
The Financial Services Commission (FSC), South Korea’s main financial regulator, has issued a warning to local firms about brokering spot Bitcoin exchange-traded funds (ETFs) from the United States. The FSC’s statement, released on January 12, highlighted that such activities could potentially contravene the government’s current position on virtual assets and the Capital Markets Act.Despite this, […]
