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United States
Crypto / Digital Assets
FTX EU Begins Allowing Customers to Withdraw Funds
By Editors | 05/04/2023
FTX EU set up a website through which balances can be verified and requests for withdrawals in fiat currency can be made.
Sanctions
US State-Level Sanctions Imposed on Foreign Adversaries
By Mark Johnston | 04/04/2023
More than a dozen US states already restrict or prohibit foreign ownership of and investments in private agricultural land.
Enforcement
US SEC Fines Merrill Lynch for FX Fee Disclosure Failures
By Editors | 04/04/2023
Merrill Lynch agreed to pay disgorgement, prejudgment interest, and a civil penalty totaling more than $9.5mn and to distribute funds to harmed clients.
Capital / Liquidity
US Lawmakers Propose ‘Failed Bank Executives Clawback Act’
By Editors | 04/04/2023
The proposed bill would require the FDIC to claw back “all or part” of the compensation paid to executives in the five years preceding a bank’s failure.
Market Infrastructure
UK FCA Announces Decision on Synthetic USD LIBOR Rates
By Editors | 04/04/2023
1-, 3- and 6-month synthetic USD LIBOR rates will continue to be published for 15 months after the USD LIBOR bank panel ceases on 30 June.
Securities / Derivatives
CME Group Launches Offshore Yuan Options Contracts
By Editors | 04/04/2023
Traders no longer view the yuan as an emerging-market currency like it was ten years ago, said Chris Povey.
Crypto / Digital Assets
Crypto Firm Bittrex Announces Decision to Exit US Market
By Editors | 03/04/2023
A lack of regulatory clarity makes it economically unviable for Bittrex to continue operating in the US. The global platform will continue operating.
Crypto / Digital Assets
US Futures SRO Issues New Rule for Crypto Activities
By Editors | 03/04/2023
The compliance rule covers anti-fraud, just and equitable principles of trade, disclosure, and supervision requirements for spot bitcoin and ether trading.
Enforcement
US SEC Charges Two Over SPAC Insider Trading Scheme
By Sanday Chongo Kabange | 02/04/2023
The duo used non-public information in advance of at least 7 merger announcements involving SPACs to earn illicit profits of more than $3.4mn.
Enforcement
Fed, OFAC Penalise Wells Fargo for Sanctions Non-Compliance
By Editors | 02/04/2023
Wells Fargo’s predecessor, Wachovia, provided software that was used by a foreign bank to process USD 532 million in prohibited transactions.
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