Thailand SEC Plans to Lift Investment Limit for Retail Investors in ICOs
Thailand's SEC plans to lift the investment limit for retail investors in ICOs to increase asset-backed digital investments. The regulator also aims to enhance effective monitoring of digital asset operations and reduce risks that might affect investors, operators, and the market. Additionally, it plans to prohibit digital business operators from accepting digital assets and paying returns to depositors.
BlockFi to Provide Refunds to Californians, Says State Regulator
Crypto lending platform BlockFi has agreed to refund more than $100,000 to Californian borrowers following an investigation by the Department of Financial Protection and Innovation (DFPI). The refunds relate to BlockFi's failure to inform borrowers they could stop repaying loans after the firm filed for Chapter 11 bankruptcy. BlockFi has agreed to an interim suspension of its lending licence, while the regulator considers revoking it.
Titanium Blockchain Executive Receives Prison Sentence for Cryptocurrency Fraud
Michael Alan Stollery, CEO and creator of Titanium Blockchain Infrastructure Services (TBIS), has been sentenced to four years and three months in prison for his role in a cryptocurrency fraud scheme related to TBIS's initial coin offering (ICO). Stollery used false claims to convince investors to buy TBIS's digital currency, failing to register the ICO with the SEC. Stollery also commingled funds from the ICO with his own, using the money for personal expenses. The case highlights the importance of conducting due diligence before investing in any coin offering.
Crypto Depositors of Signature Bank Face April 5 Deadline for Account Closure
The Federal Deposit Insurance Corporation (FDIC) has urged customers of Signature Bank, a defunct bank that used cryptocurrencies, to close their accounts by April 5 by finding a new bank.
After CFTC Lawsuit, Binance Experiences Significant Withdrawal
Binance experienced significant withdrawals following the US Commodity Futures Trading Commission (CFTC) suing the exchange and CEO Changpeng Zhao (CZ) for alleged trading and derivatives rule violations. Nansen data shows $400m in Ethereum-based funds withdrawn in 24 hours, and Coinglass metrics show 3,655 bitcoin worth over $99m were withdrawn in the past day.
Chinese Banks Extend Services to Hong Kong Crypto Companies
Chinese banks, including Bank of China and Bank of Communications, have started providing financial services to Hong Kong-based cryptocurrency firms despite an ongoing crypto ban in mainland China. Industry experts have welcomed the move, which is seen as encouraging for the industry and broader ecosystem.
Binance, the World's Top Crypto Exchange, Under US Investigation
The US Commodity Futures Trading Commission (CFTC) has sued cryptocurrency exchange Binance and its CEO Changpeng Zhao over regulatory violations. Binance, which claims to have 128 million users, offers spot and derivatives trading, as well as NFTs and crypto loans. Binance.com is the world's largest cryptocurrency exchange.
Binance, CEO Face Legal Action From US Regulator Over Crypto Exchange Practices
Binance, the world's largest cryptocurrency exchange, and its CEO, Changpeng Zhao, are being sued by the US Commodity Futures Trading Commission (CFTC) for operating an "illegal" exchange and "sham" compliance program. The CFTC alleges that Binance offered and executed commodity derivatives transactions on behalf of US persons in violation of US laws.
Crypto Mining Operations in Venezuela Forced to Shut Down
Venezuela's energy supplier has closed down crypto mining facilities across the country as part of an ongoing corruption investigation involving the national crypto department and the oil company. The investigation has already led to the arrest of at least 10 people, including the former head of the crypto department.
The Most Recent ETH 2.0 Staking Developments on eToro
Online broker eToro will discontinue its ETH 2.0 staking services on the eToro Money crypto wallet per the Ethereum network's directive. Pledged ETH and incentives will be released and transferred to users' ETH wallets, with eToro confirming the completion of the process via email. The exit process could take some time, but eToro is committed to a smooth and efficient payout procedure. This demonstrates eToro's commitment to superior service and users' fund protection.
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