Coinbase CEO slams Chase UK for ‘totally inappropriate’ crypto move
Coinbase CEO Brian Armstrong has been actively pursuing the exchange’s expansion ambitions in the United Kingdom amid mounting legal issues in the United States.
Coinbase CEO Brian Armstrong has been actively pursuing the exchange’s expansion ambitions in the United Kingdom amid mounting legal issues in the United States.
The local subsidiary of the world’s largest crypto exchange has suggested that customers convert all their fiat currency on the exchange to crypto.
SEC Chair Gary Gensler is set to highlight a new focus on AI, predictive data analytics and the cryptocurrency sector before the U.S. Financial Services Committee.
The list of top censorship offenders is populated by popular platforms such as Binance, Celsius Network, Bitfinex, Ledger Live, Huobi (HTX) and Coinbase.
The financial details of the deal remain undisclosed. However, as a full exit from Russia, Binance will have no ongoing revenue split, nor any option to buy back shares, the companies said.
Despite campaign finance charges being dropped in July, the prosecution has been granted permission to present evidence of Bankman-Fried’s political donations in his upcoming fraud trial.
According to Cointelegraph: The UK customers of Chase Bank will no longer be able to conduct cryptocurrency transactions starting from October 16. Chase Bank, a digital banking subsidiary of the investment bank JPMorgan, cited the growing instances of crypto-related scams and fraud as the reason behind this decision. A spokesperson from the bank conveyed that the customers won't be able to make crypto transactions using their debit cards nor through outgoing bank transfers. If the customers attempt to make a crypto-related transaction, they will receive a declined transaction notification. The decision was underpinned by data from Action Fraud, the UK's fraud reporting agency, indicating a surge in UK consumer losses to crypto scams by over 40% in the previous year, amounting to over 300 million British pounds ($365 million). The bank in a statement reassured its commitment towards safeguarding customers' money and considering the escalation in scams targeting UK consumers, they chose to prohibit the purchase of crypto assets on Chase debit cards and transfers from Chase accounts to crypto sites. Chase Bank informed its customers about this change in policy through emails on September 26, which was followed by several customers reporting the receipt of the notifications about the policy revisions concerning crypto on social media platform X (earlier known as Twitter). Chase Bank caters to more than 50 million active users worldwide through its 4,600 branches. However, these restrictions will only affect approximately 2% of Chase’s total users worldwide, as Chase UK’s customer base reached 1 million last September, post its inception in 2021.
According to The BlockBeats: The Taiwan Financial Supervisory Commission has introduced a new regulatory framework, "Guiding Principles for the Management of Virtual Asset Platforms and Transaction Business Enterprises (VASP)" on September 26. These regulations aim to fortify customer protection measures, amplify transaction transparency, refine asset custody methods, and better manage virtual asset platforms. The guidelines require virtual asset platforms to enhance their operational transparency and customer protective measures, including the public disclosure of white papers for any assets issued via the platform, establishing mechanisms for fair market transactions, implementing distinct standards for listing and delisting assets, and maintaining separate custody of client and platform assets. Additionally, they must display a commitment towards robust information security, consent to inspections by the Financial Supervisory Commission, and ensure compliance with money laundering prevention laws. These regulatory principles present a significant stride towards a more accountable, secure, and equitable cryptographic asset ecosystem in Taiwan.
The approval is seen as a milestone moment for BlockFi’s 100,000-plus creditors, who have been long awaiting repayment.
The commission gave itself an additional 60 days to consider the listing of ARK 21Shares’ investment vehicle on the Cboe BZX Exchange, with a final deadline set for Jan. 10.