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Cryptocurrency
UPDATED – Binance Faces Added Regulatory Pressures Amid CFTC Charges
By Editors | 05/04/2023
Dubai’s VARA is asking Binance for more information. ASIC is meanwhile reviewing Binance’s Australia derivatives business and has cancelled its licence.
Trading & Investment
FDIC Retains BlackRock Unit to Sell SVB, Signature Bank Securities
By Editors | 05/04/2023
The FDIC retained BlackRock Financial Market Advisory to sell about $114bn in securities. Signature Bank loans still in receivership will be marketed “later this summer”.
Cryptocurrency
Delay of Voyager-Binance.US Deal Could Cost $100m
By Editors | 05/04/2023
The acquisition of Voyager by Binance.US is being appealed by the DOJ. Creditors say the deal must be consummated by 13 April or they stand to lose $100mn.
Cryptocurrency
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.
PEPs & 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.
Supervision & 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.
Conduct, Culture & Accountability
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.
Structural Regulation
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.
Trading & Investment
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.
Cryptocurrency
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.
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