Legal
Crypto Lender Hodlnaut Applies for Judicial Management in Singapore
  • The judicial management law allows the Singaporean court to appoint a judicial manager, who takes over the role of a director temporarily, to help struggling companies.
  • If approved, the application will give Hodlnaut temporary protection from legal claims, allowing it to focus on a recovery plan that does not involve liquidating customer assets at a loss.
17 hours ago
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The Supreme Court building in Singapore, 12 October, 2016. Sing Studio/Shutterstock

South Korea to Fast-Track New Crypto Legislations
  • The chairman of the Financial Services Commission noted that a task force of private and government experts will “quickly” review pending crypto legislations.
  • The statement was made during a meeting that marked the inauguration of a special committee on digital assets, announced in June.
August 11, 2022, 6:04 PM
A large Republic of Korea flag fluttered at a parade in the streets of Seoul

Republic of Korea’s flag fluttering at a parade, Seoul, Korea, 31 August, 2019. Chintung Lee/Shutterstock

Hotbit Suspends Trading and Withdrawals Due to Criminal Investigation
  • Hotbit suspended trading, deposits, and withdrawals as some of its funds were frozen by an unnamed law enforcement agency.
  • The agency was investigating a former employee of the company, who worked on an external project suspected of violating criminal law.
August 11, 2022, 10:01 AM
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Fourth BitMEX Executive Pleads Guilty to Violating the Bank Secrecy Act
  • The former head of business development at BitMEX, Gregory Dwyer, has pleaded guilty to violating U.S. anti-money laundering laws, and agreed to pay $150,000 in fines.
  • The exchange’s three founders, Arthur Hayes, Ben Delo, and Samuel Reed, have already pleaded guilty of breaking the Bank Secrecy Act, and were ordered to pay $30 million in fines.
  • August 9, 2022, 11:53 AM
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    Aug 8, 2022
    Crypto.com Hits Regulatory Milestone in Korea After Two Acquisitions
    • Crypto.com secured an Electronic Financial Transaction Act registration by acquiring PnLink, and a VASP registration from buying OK-BIT.
    • While it remains unknown if the exchange can offer its full suite of services in the country, the VASP registration allows it to provide crypto exchange and custody services.

    Kris Marszalek, Co-Founder and CEO of Crypto.com, during RISE 2018 conference, Hong Kong, June 2018. Seb Daly/RISE via Sportsfile

    Aug 5, 2022
    Voyager Digital to Return $270M in Cash to Customers
    • The U.S. Bankruptcy Court in New York has given Voyager the green light to return $270 million in cash, locked up at the Metropolitan Commercial Bank, to its customers.
    • An attorney for Voyager claimed the company had received a number of “higher and better” offers than the one from Alameda and FTX, which was one of the lowest received so far.
    Jul 29, 2022
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    Jul 26, 2022
    FTX to Acquire Crypto Exchange Bithumb
    • Bithumb’s parent company, Vidente, had recently entered into acquisition talks, and is still considering between an outright sale and joint ownership.
    • According to its latest regulatory filing, Vidente has ownership over 34.2% of Bithumb Holdings, and 10.22% of Bithumb Korea.
    Jul 26, 2022
    SEC Reportedly Probing Coinbase Over Token Listings
    • “People familiar with the matter” have said the regulator is investigating Coinbase for allegedly allowing U.S. citizens to trade unregistered securities.
    • The exchange denied the assets were securities, saying that its listing process had been reviewed and approved by the SEC themselves.
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