Celsius Seeks Court Approval on Restructuring Plan
- The bankrupt crypto lender said that if its reorganization plan is approved, it is ready to start repaying its customers using $2 billion in BTC and ETH by the end of the year.
- If given the green light, Celsius will restart its business under the “NewCo” brand without any funded debt, and with seed funding of up to $450 million.
October 3, 2023, 12:18 PM
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Celsius Reaches Settlement With Series B Holders Over $25M GK8 Sale
- The bankrupt crypto lender has agreed on a settlement with its Series B holders on how to distribute the $25 million from the sale of self-custody platform GK8.
- The majority of funds, $24 million, will be allocated for legal expenses, while the remaining $1 million will be distributed between the Series B holders.
July 18, 2023, 10:51 AM
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U.K. Regulator Shut Down 26 Crypto ATMs Since Start of 2023
- The U.K. Financial Conduct Authority continues its crackdown on crypto ATMs in the country, and has disrupted a total of 26 machines since the start of the year.
- The regulator warned the public back in March 2022 that all crypto ATMs in the country were operating illegally, and issued a “shut down or face further action” order.
July 11, 2023, 10:35 AM
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Invesco and WisdomTree Join the Race for Spot Bitcoin ETF
- Investment firms Invesco and WisdomTree both followed the example of BlackRock from last week, and filed for their own spot Bitcoin ETFs with the U.S. SEC.
- Although the SEC is yet to approve a single spot Bitcoin ETF product, ETF analysts say there is a good chance BlackRock is the first considering its history with ETFs.
June 21, 2023, 12:44 PM
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Jun 9, 2023
EU Adds MiCA Legislation to Official Journal
- The legislation that aims to create a consistent regulatory framework for crypto assets among the EU member states has been added to the EU’s Official Journal.
- The move has started the clock on when the new crypto rules will be applied, with MiCA coming into full force on 30 December, 2024.
Jun 1, 2023
Crypto.com Granted Major Payment Institution License in Singapore
- Crypto.com has once again expanded its regulatory achievements with the acquisition of a major payment institution license for digital payment token services in Singapore.
- The license, for which the company received an in-principle approval last June, enables the exchange to provide a greater range of payment services in Singapore.
May 30, 2023
bitFlyer Implements Restrictions to Comply With Travel Rule
- The Japanese exchange has adopted new AML measures in order to comply with the Japanese governments implementation of FATF’s Travel Rule.
- Transaction restrictions will be applied to 21 countries that follow the Travel Rule, though transfers to countries not on the list will still be supported.
May 22, 2023
Malaysia Orders Huobi Global to Cease Operations
- The Securities Commission Malaysia ordered Huobi Global to stop all of its activities in the country as it was not registered with the regulator, and was operating illegally.
- The exchange was also directed to disable its website and mobile applications, as well as cease all advertising of its products and services in the country.
May 16, 2023
MiCA Regulation Approved by EU Finance Ministers
- The Economic and Financial Affairs Council of the EU, which is comprised of finance ministers of all 27 member states, unanimously approved the MiCA crypto regulation.
- The EU’s finance ministers also also gave their consent to new measures that will allow tax authorities to collect data on individuals’ cryptocurrency holdings.
May 9, 2023
Bittrex Files for Chapter 11 Bankruptcy in the U.S.
- The cryptocurrency exchange is estimated to have more than 100,000 creditors, and between $500 million and $1 billion in both assets and liabilities.
- The Chapter 11 filing came less than a month after the U.S. SEC filed charges against Bittrex and its former CEO, claiming they were operating an unregistered securities exchange.