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Crypto Firms Take Note: New York Regulator Wants to Change Up BitLicense Rules

In New York, the BitLicense business licensing rules have proven to be the bane of more than a few cryptocurrency firms over time. That reality has led to there being little support for the BitLicense in some circles of the space. That’s why many eyes widened in the crypto arena on December 11th wh..

SoFi Obtains BitLicense to Offer Crypto Trading Services in New York

News California-based financial firm SoFi has acquired a BitLicense from the New York State Department of Financial Services (NYDFS), the regulator said in a statement on Dec. 3. SoFi is now one of 24 crypto-related firms that have obtained a BitLicense since 2015, Bloomberg Law’s crypto reporter ..

Former CFTC Chair to Remain Focused on Crypto and Blockchain at New Law Firm

News Former United States Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo was hired as senior counsel at the New York-based law firm Willkie Farr & Gallagher. Digitize the dollar and take power away from central banksOn Dec. 2, Reuters reported that Giancarlo in his new role a..

Fidelity Digital Asset Services Now Authorized to Operate Crypto Custody Platform

News Fidelity Digital Asset Services, LLC (FDAS) has procured a charter from the New York State Department of Financial Services (NYDFS) to operate a virtual currency custody and execution platform. Per a Nov. 19 press release, the NYDFS authorized FDAS to operate as a limited liability trust comp..

Real Estate Magnate Sells New York Condo for $15.3M in Bitcoin

News Real estate tycoon Ben Shaoul has sold a retail condo in Manhattan’s prestigious Upper East Side for $15.3 million in Bitcoin (BTC). The news was reported by New York real estate magazine The Real Deal on Nov. 1. Shaoul — who is president of the Magnum Real Estate Group — sold the 11,400-squa..

Tassat Gets CFTC Approval to Issue Bitcoin Derivatives in US

News New York-based financial technology firm Tassat — formerly known as trueDigital — has succeeded in overcoming the first hurdle in its bid to launch a fully-regulated crypto derivatives exchange. According to an announcement from the United States Commodity Futures Trading Commission (CFTC) on..

NY Court Orders Veritaseum to Pay Back $8 Million From Illegal ICO

News The CEO of Delaware-registered blockchain firm Veritaseum LLC and New York-registered Veritaseum Inc., Reggie Middleton, was ordered to pay $8.4 million in disgorgement, according to a new court order. Additionally, Middleton is liable for a civil penalty of $1 million, fintech publication Fi..

Class Action Accuses Tether and Bitfinex of Market Manipulation

News A New York-based legal firm has filed a lawsuit against Tether and Bitfinex, accusing them of cryptocurrency market manipulation. “Largest bubble in history”Roche Freedman filed a class-action suit claiming that stablecoin firm Tether and its affiliate crypto exchange Bitfinex have been invol..

Coinbase to Pay US Users Interest for Holding USDC Stablecoin

News Major United States-based cryptocurrency exchange and wallet service Coinbase now allows holders of USD Coin (USDC) to earn a 1.25% annual percentage yield (APY). In a blog post on Oct. 2, Coinbase said that eligible U.S. customers will begin earning 1.25% APY rewards on every USDC they hold ..

Launch of Binance US Can Have Far-Reaching Effects on Crypto Market

Analysis From the outside looking in, the United States seems to present a host of amazing financial opportunities. However, when it comes to launching cryptocurrency exchanges or altcoin trading platforms, these possibilities start to dwindle and fade quite rapidly. In this regard, over the past..

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