Coinbase, Binance and Kraken under scrutiny: Law Decoded, July 25-August 1
Enforcers around the world are demonstrating their interest to the industry's largest players. Despite some good signs of the crypto prices recovery, last week could hardly be called bright for the market, as the major news came from the enforcers and not the regulators. According to a report from the New York Times, the United States Treasury Department’s Office of Foreign Assets Control (OFAC) has been investigating crypto exchange Kraken for allegedly allowing users based in Iran and other countries to buy and sell crypto in a potential violation of U.S. sanctions. In the other....
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Tentative clampdowns coming from both the Treasury and the House in the United States lead this week's Law Decoded. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor's noteFor several weeks, rumors have circulated in the United States that the Treasury Department under Steven Mnuchin is planning some sort of rulemaking to ban or severely restrict self-hosted cryptocurrency wallets.The Treasury hasn’t made any public statements to support these rumors, but they are persistent and pervasive enough to be worth paying....
The Kraken support team has drawn to the attention of Cointelegraph its recent blogpost in response to various claims of compromised accounts and stolen funds on the exchange. In the last month, CoinTelegraph received two separate mails from alleged Kraken users who claim their accounts were compromised after a reported security breach on the Kraken system. Kraken was not hacked. Both cases were presented to Kraken for clarification before our articles were published about them in July and August. But in a response on Monday August 15, Kraken says the claims of a breach could be as a....
The two cryptocurrency exchanges are under increased U.S. scrutiny for allegedly listing unregistered securities and evading sanctions, respectively.
The exchange said all AMP trading will be halted on Aug. 15, adding that it “may resume at some point in the future." United States-based crypto exchange Binance.US said it will be delisting the AMP token “out of an abundance of caution” of possible enforcement by federal regulators. In a Monday blog post, Binance.US said it will be closing deposits of Amp (AMP) and removing the AMP/USD trading pair on Aug. 15 following the token's mention in a legal action from the U.S. Securities and Exchange Commission, or SEC. The federal regulator filed a complaint against a former Coinbase product....
Binance, one of the world’s largest cryptocurrency exchanges, continues to experience a wave of executive departures as it grapples with regulatory challenges and legal scrutiny in the United States and Europe. According to a Reuters report, the recent resignation of Mayur Kamat, Binance’s global head of product, adds to the growing list of critical figures […]