A day after the well-known trading platform announced plans to expand in Europe, Cathie Wood’s ARK Invest bought a sizable portion of shares in the American financial services company Robinhood (HOOD). A total of 1,141,046 shares of Robinhood were purchased by ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation

The venture division of Standard Chartered (STAN) and SBI Holdings, a Japanese financial services company, are forming an investment company with $100 million in funding specifically aimed at targeting cryptocurrency startups. According to an email on Thursday, the Digital Asset Joint Venture investment company from SC Ventures and SBI Holdings will be based in the

The company reports that Liminal, a digital asset custodian, has been designated by India’s Central Bureau of Investigation (CBI), the country’s top investigative police agency, to oversee digital assets that have been seized. In order to securely store seized assets, Liminal has already assisted a CBI operation by putting together a specialised team that created

According to a statement released on Wednesday, the Securities and Futures Commission (SFC) has granted a license to the Hong Kong branch of Swiss cryptocurrency bank SEBA. “This license permits SEBA Hong Kong to conduct regulated activities in Hong Kong to deal in and distribute all securities, including virtual assets-related products,” the Zug-based bank said. According to SEBA, the license covers the following cryptocurrency-related goods and services, “asset management for discretionary accounts in both traditional securities and virtual assets,” over-the-counter (OTC) derivatives and structured products with underlying virtual assets, and advice on virtual assets. The license is the result of an August approval in principle.The SFC has indicated that it will permit certain tokenized securities-related operations, while Hong Kong has revised its crypto licensing rules to permit retail trading.The first cryptocurrency exchange licenses under such regime were obtained by HashKey Exchange and OSL Digital Securities. Abu Dhabi granted SEBA, which was established in 2018, its first international license in February 2022. “Institutional and professional investors, including corporate treasuries, funds, family offices and high-net-worth individuals, can begin availing of SEBA Hong Kong’s licensed services from

After Binance, the exchange that purchased Trust Wallet in 2018, launched its own rival Web3 wallet, the value of Trust Wallet’s native token (TWT) dropped by 7%. According to CoinMarketCap, the token’s price is currently $1.49, down 7% from the previous day. TechCrunch reports that in 2018, Binance acquired the wallet in exchange for a

The cryptocurrency-based money transfer and payments network Ripple, which debuted in 2012, is collaborating with payments fintech Onafriq to increase remittance capabilities in Africa and between its borders with the United Kingdom, Australia, and several Gulf countries. At Swell, Ripple’s annual conference in Dubai, an announcement was made on Wednesday about the opening of three

Custodia Bank’s introduction of Bitcoin custody comes after the company encountered several legal issues earlier this year. The Bitcoin-friendly bank Custodia Bank, established by proponent Caitlin Long, has released its platform for Bitcoin custody. The company announced the launch of Custodia Bank’s Bitcoin custody service on X (formerly Twitter) on November 7. The service is

Kenya may be the first nation in the world where representatives of the industry create a cryptocurrency regulatory framework Kenya may be the first nation in the world where representatives of the industry create the crypto regulatory framework. The National Assembly’s Departmental Committee on Finance and National Planning has instructed the Blockchain Association of Kenya

Prominent meme cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB) are seeing an increase in influx of capital as a result of Bitcoin’s October rally, which appears to have given the crypto market new life. According to Velo Data, open interest—the dollar value locked in the quantity of active perpetual futures and standard futures contracts associated with SHIB—has climbed by 23% to $61.74 million since November 1st, marking the most percentage growth among the leading cryptocurrencies.With $328 million in open interest, DOGE has experienced a 14.6% growth. Over the same time period, open interest in bitcoin (BTC) has remained constant, but it has climbed by 6% to 7% in MATIC, ETH, ETC, and LTC. A spike in open interest suggests that fresh money is flooding the market.The fact that there has been a significant rise in capital flowing into derivatives linked to speculative currencies such as DOGE and SHIB indicates that investors are becoming more risk-averse.In the past, the persistent superiority of meme cryptocurrencies has shown greed and denoted shifts in the price trend of bitcoin. As per a report, the prices of DOGE and SHIB have increased by 3.6% and 6.5% in a week, respectively.In contrast, Bitcoin has remained steady at about $35,000.In just seven days, open interest in XRP has increased by a pitiful 0.76%, despite the fact that the price of the payments-focused cryptocurrency has risen by 18.6%—the largest increase among major cryptocurrencies.According to the data, XRP’s gains have mostly come from one area. In the interim, funds have been removed from BNB, DOT, UNI, TRX, and ATOM.

According to local media source Kursiv, the government of Kazakhstan has verified that Coinbase, the second-largest cryptocurrency exchange globally by trading volume, has been prohibited in the nation for breaking new crypto rules that went into force earlier this year.Digital asset exchanges that sell “unsecured digital assets” outside of the Astana International Financial Center are also prohibited by the Digital Assets law from issuing and distributing these assets. According to the article, the government informed Kursiv that Coinbase was breaking this specific rule. “The Information Committee of the Ministry of Culture and Information received a request from the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan with a request to block the Internet resource www.coinbase.com, which violates paragraph 5 of Article 11 of the Law of the Republic of Kazakhstan ‘On

In the last 24hours, XRP surged to become the best-performing cryptocurrency major while ether (ETH) and bitcoin (BTC) remained stable. According to CoinGecko data, prices increased by more than 11% before somewhat declining on Monday. Trading volumes increased to $2 billion from $1 billion on Sunday. When this article was written, XRP was trading for

Expert in bitcoin law John Deaton has provided analysis of the US Securities and Exchange Commission (SEC) v. Ripple case.He argues that a $20 million or less settlement would represent a major win for the firm in court.In a recent post on X (formerly Twitter), Deaton vehemently disputed the notion that the SEC won the litigation 50/50, asserting that Ripple actually had a 90/10 edge.A post by Stuart Alderoty, chief legal officer of Ripple, outlining yet another legal loss for the SEC, served as the impetus for Deaton’s statements. Deaton’s point of view is in line with the prevailing consensus in the cryptocurrency world, which sees the proposed $20 million settlement as a good way to help Ripple out.This analysis takes into account the wider regulatory framework pertaining to digital currencies as well as the possible ramifications of the XRP litigation. The narrative is further developed by Stuart Alderoty’s essay, which notes that the SEC lost this week, carrying on a run of losses.Alderoty claims that the U.S. Court of Appeals for the Second Circuit decided in the SEC v. Govil case that the SEC cannot ask for a significant disgorgement award unless it first proves that actual financial injury to “investors” has occurred.In essence, it means that there is no punishment if there is no harm.The SEC filed a lawsuit against Ripple Labs in December 2020, alleging that the company had sold its own cryptocurrency, XRP, in an unregistered securities offering. A precedent was ultimately made when Judge Analisa Torres ruled that the asset, when exchanged on the secondary market, was not a security.Also, when the allegations against the Ripple executives were dropped, the case experienced substantial modifications. Concurrently, Torres recently gave his approval to an order that addressed the joint proposal for a briefing schedule by Ripple and the SEC to address institutional sales of XRP.This is connected to the section of the XRP case whereby it was found that the business had violated securities laws.On November 9th, Torres gave the parties till that day to submit a unified briefing agenda.

38 transactions totaling $588,000 were made with the largest transfer amounting to $81,200. According to cryptocurrency investigator ZachXBT, consumers who downloaded a fraudulent Ledger Live app from Microsoft’s app store lost almost $600,000 in Bitcoins. On November 5, the on-chain analyst discovered the scam known as “Ledger Live Web3.” It deceives people into believing that

Bitfinex emphasised that none of its systems were breached and that no client money was misplaced. Exchange of cryptocurrency Bitfinex reported that one of its customer service representatives was compromised earlier this week, between October 30 and November 5, resulting in a “minor” information security incident. The company clarified in a statement on November 4

Trial for cryptocurrency trader Avi Eisenberg is not expected to start until April 8, 2024. This is because the judge presiding over the case of the accused Mango Markets exploiter agreed to postpone the trial just one month before it was supposed to.When using a “highly profitable trading strategy” against the decentralized cryptocurrency exchange Mango Markets, situated in Solana, in October 2022, federal authorities claim Eisenberg engaged in wire fraud and commodities manipulation. The trial is taking place in the Southern District of New York, where a group of attorneys just this week succeeded in convicting Sam Bankman-Fried in a case that took less than a year to complete. According to a filing, Eisenberg’s trial was proceeding almost as quickly until late October when the Bureau of Prisons transferred him from a federal jail in New Jersey to the more restrictive Metropolitan Detention Center in Brooklyn. This move made it difficult for the defense team to get ready for Eisenberg’s December 8 trial date. Due to the “complex and novel legal and factual issues” at hand, his attorneys also asked for more time.The claimed scheme of Eisenberg contained complex cryptographic ideas that would make any prosecution — and defense — much more difficult than Bankman-Fried’s comparatively straightforward fraud case. On Friday, the case’s presiding judge reluctantly consented to move the trial to April 8, 2024, as did the government.

The cryptocurrency magazine Bitcoin Magazine reports that it has received threats of legal action regarding “FedNow” t-shirts, hats, and other merchandise According to a post from Bitcoin Magazine on November 3, the US Federal Reserve has accused the publication of trademark violations and sent it a cease-and-desist letter. According to Bitcoin Magazine, the company is

The Supreme Court’s decision to hear this case is a significant step forward for businesses that use arbitration clauses. The US Supreme Court has taken up a case involving Coinbase and its users, focusing on a crucial procedural question of which contract should be arbitrated or judged in order to resolve disputes. Conflicting agreements between

The Distributed Ledger Technology (DLT) Foundations Regulations 2023 were unveiled by the Registration Authority (RA) of Abu Dhabi Global Market (ADGM), initiating a significant step in the regulatory development of digital assets on a regional and global scale. This novel framework, unveiled just now, is designed to meet the particular legal needs of Decentralised Autonomous

In order to spare everyone the spectacle of a full trial, the Securities and Exchange Commission (SEC) is requesting a summary judgement from a federal judge. The SEC claims that there is “no genuine dispute as to any material fact” in its case against Do Kwon and Terraform Labs. “It is undeniable that buyers invested

The police in Singapore have released a warning regarding a new phishing scam variation wherein hackers gain access to a victim’s contacts and WhatsApp account. Through the use of a QR code, the scam tricks victims into connecting their WhatsApp account to a phoney phishing website, thus giving the owner of the website secret access.

The global payments behemoth PayPal (PYPL) announced in a filing that it had received a subpoena from the U.S. Securities and Exchange Commission (SEC) seeking documentation regarding its USD stablecoin. No additional information was provided. In August, the company launched PayPal USD (PYUSD), a stablecoin backed by the US dollar. In its quarterly earnings report,

According to more guidance on activities related to tokenized securities, Hong Kong will permit primary dealing of tokenization, the Securities and Futures Commission (SFC) said on Thursday. One of the two SFC announcements that were meant to be read together stated, “The SFC is of the view that it is appropriate to allow primary dealing

Software developer MicroStrategy (MSTR) revealed the acquisition of an additional 155 bitcoins (BTC) in October in conjunction with its third-quarter earnings report. This brings the total amount of BTC acquired since the beginning of Q3 to 6,607. By the end of October, the company that Michael Saylor co-founded in Tysons, Virginia, had amassed 158,400 bitcoins,

Following the implementation of a new marketing regime for the industry on October 8, the U.K.’s financial watchdog released guidelines on its crypto advertising rules on Thursday. This provided clarification on how the rules should be applied.The rules, which come after the Financial Conduct Authority’s June–August consultation, mandate that companies provide suitable risk warnings on any correspondence with UK clients that include a “promotional” aspect.They also touch on the necessity of proof to back up statements made in advertising materials. “While the new rules for firms marketing crypto to U.K. consumers are aligned with the existing rules for other high-risk investments, we’ve engaged extensively with industry and designed this guidance to specifically support crypto firms complying,” Lucy Castledine, the FCA’s director of consumer investments, said in a statement. According to the guidelines, cryptocurrency assets that make this claim will have to provide proof.According to the FCA, firms can submit the proof through disclosures, independent audits, and deposit confirmations.According to the letter, the business will have to “demonstrate that claims of stability, such as links to a fiat currency, are bona fide.” Particular hazards associated with lending and borrowing should be included in financial advertising.Furthermore, robust yield models require unambiguous proof of possible rates of return.When person A offers to allow person B to send cryptocurrency to person A in exchange for a rate of return, this creates a complex yield model.Also, the FCA wants businesses to inform clients in plain English of any changes to asset ownership, both legally and beneficially.Additionally, businesses will have to perform due research on the cryptocurrency asset and service they are endorsing, which includes making sure the cryptocurrency isn’t connected to any fraudulent activities. “Firms should not use

Six specialised investigators in cryptology are needed as the National Crime Agency (NCA) of the United Kingdom builds up a cybercrime team. “This role will be part of a new project that will form a specialised cryptocurrency and virtual assets team,” the job posting said. The perfect applicant will be knowledgeable about cryptocurrency, capable of performing sophisticated blockchain tracing, and knowledgeable about crypto investigations.The United Kingdom has been strengthening its arsenal to combat cryptocurrency fraud.A bill granting law enforcement organizations greater authority to seize and freeze cryptocurrency was approved by parliament last week.The National Police Chiefs’ Council (NPCC) launched an initiative last year that saw the appointment of crypto tactical advisers to police departments across the country. This year, more positions will be added to the group. “The role will support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development,” the posting said. The

As Commissioner Christy Goldsmith Romero recently stated, the majority of the 1,530 tips that the Commodities Futures Trading Commission (CFTC), which oversees the derivatives markets in the United States, has paid out $16 million to whistleblowers this year. “This year, the majority of tips that were received concerned cryptocurrency—an industry that still has widespread fraud