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
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
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
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.
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
Regulators Demand Voyager Removes Misleading Insurance Claims
- The Federal Reserve and FDIC have issued a joint letter demanding the crypto lender remove “false and misleading” statements that it was FDIC-insured.
- The two regulators alleged that this claim “likely misled and were relied upon by customers who placed their funds with Voyager “.
Jul 27, 2022
Kraken Reportedly Under OFAC Investigation
- The Treasury Department’s Office of Foreign Assets Control (OFAC) is reportedly investigating Kraken for possible violations of U.S. sanctions.
- Unnamed sources have said the investigation began in 2019, and that the government agency was close to imposing a fine on the exchange.
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.