business

Robinhood’s cryptocurrency division recently settled a California investigation by agreeing to pay a $3.9 million fine. The investigation, led by California Attorney General Rob Bonta, revealed that Robinhood Crypto prevented users from withdrawing their digital assets between 2018 and 2022. Additionally, the company failed to fully disclose details about its trading and order-handling processes, misleading
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The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund that was primarily investing in cryptocurrencies. The charges were related to Galois Capital’s alleged failure to comply with client asset safeguarding requirements, particularly with regards to crypto assets that were considered securities by
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OKX SG, the Singaporean entity of the crypto exchange OKX, made a significant move by obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore as it allows businesses to operate without daily or monthly transaction limits. Companies seeking this license must meet specific
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In the past five decades, the payments industry has seen significant growth and has become one of the largest sectors globally. However, one major issue remains – the industry still relies on outdated technology that is becoming more inefficient over time. A recent report from Binance Research sheds light on the potential benefits of blockchains,
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The crypto industry has been experiencing a significant shift away from the UK in recent years, with many firms attributing this move to burdensome regulatory processes. According to a report by the Financial Times, registrations for crypto asset exchanges and custodian wallet providers with the UK’s Financial Conduct Authority (FCA) have dropped by more than
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The Nigerian Securities and Exchange Commission (SEC) has recently granted two local crypto exchanges, Busha Digital Limited and Quidax, “Approval-in-Principle” to commence operations under the Accelerated Regulatory Incubation Program (ARIP). These approvals are part of the SEC’s efforts to promote innovation while ensuring investor protection within the digital asset space. The ARIP was designed to
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