588:Prime Trust Bank Faces Regulatory Peril, Acquisition Halted
Overnighters,
Episode 588:
Crypto.com licensed in Spain
SEC Backs off BlockFi Fine
IMF: Don't Ban Crypto
and More
Collect the Cover: *technical difficulties will issue soon*
The TL;DL
IMF: Don’t Ban Crypto - The IMF has shifted its perspective on cryptocurrency regulation, acknowledging that a complete ban may not be effective. Instead, they emphasize the need to understand why people are drawn to digital assets and address unmet needs in digital payments.
SEC Backs off BlockFi Fine - The SEC has decided to delay collecting a $30 million fine from crypto lender BlockFi due to the company's bankruptcy. This decision aims to maximize distribution to investors and avoid further delays.
Prime Trust Bank in Peril - Prime Trust Bank faces regulatory challenges as its planned acquisition by BitGo is terminated, and a cease-and-desist order is issued. This situation impacts deposit and withdrawal services, highlighting the importance of trust and compliance in the crypto industry.
CFTC’s Bi-Coastal Scam Busts - The CFTC has taken action in two significant cryptocurrency scam cases. One case involves Justby International Auctions, accused of misappropriating $1.3 million in customer funds. The second case targets William Koo Ichioka, who fraudulently misappropriated over $21 million from participants in a commodity pool.
Crypto.com licensed in Spain - Crypto.com has received approval as a virtual asset service provider in Spain, following compliance with anti-money laundering directives. This registration enables Crypto.com to offer its services to users in Spain, showcasing the growing acceptance of crypto services in traditional financial systems.
Alameda Seeks $700M Clawback - Alameda Research, linked to the bankrupt FTX empire, is seeking to recover $700 million allegedly paid for access to high-profile individuals. The funds were promised to individuals known for their extensive connections, raising questions about the use of company funds and relationships within the crypto industry.
Crypto Overnighter Podcast (6/23/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.
Email: nick@cryptoovernighter.com
Salem Friends of Felines: https://sfof.org/
Twitter: https://twitter.com/CryptoCorvus1
Patreon: https://www.patreon.com/user?u=67416221
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