The US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has recently voiced her concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). These concerns were brought up after a speech by SEC Chief Accountant Paul Munter on September 9, where Munter reaffirmed the Commission’s stance on SAB 121. Despite the growing attention
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In the wake of the recent hack on WazirX, leading global auditor Grant Thornton conducted a thorough review of Liminal’s infrastructure to confirm its security. The audit encompassed an examination of all aspects of Liminal’s platform, including the frontend, backend, and user interface (UI). The results of the audit provided assurance that Liminal’s systems were
In a controversial move, North Carolina’s lawmakers have successfully overturned Governor Roy Cooper’s veto on a bill that aimed to prevent the state from implementing a central bank digital currency (CBDC). The Republican-controlled Senate voted 27-17 in favor of House Bill 690, surpassing the required 60% threshold to override the governor’s rejection. This decision effectively
Recently, the Federal Reserve issued a cease and desist order to United Texas Bank (UTB) on Aug. 29, directing it to stop offering crypto services. This action came after an examination conducted by the Federal Reserve Bank of Dallas and the Texas Department of Banking in May 2023. The examination identified alleged deficiencies in UTB’s
Recent news has confirmed that Binance’s co-founder, Changpeng Zhao (CZ), is permanently barred from managing the crypto exchange. Despite initial reports suggesting a three-year ban, CEO Richard Teng clarified that the ban is permanent. This means that CZ will never be able to resume a leadership role at the platform. However, as the largest shareholder
WazirX has initiated the second phase of its fiat currency withdrawal process ahead of schedule on Sept. 3. Initially planned to start on Sept. 9, the process has been expedited due to the urgent need to address the aftermath of a substantial security breach that resulted in the loss of over $230 million in user
The Qatar Financial Centre (QFC) in Doha has recently introduced a groundbreaking regulatory framework for digital assets. This framework, known as the QFC Digital Assets Framework 2024, aims to establish a secure and transparent ecosystem for digital assets within the QFC. One of the key aspects of this framework is the invitation to both local
OKX SG, a crypto exchange platform, has recently achieved a significant milestone by securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This achievement highlights the growing importance of Singapore as a global digital asset hub and showcases OKX SG’s commitment to the local community and ecosystem. Obtaining an MPI
The Nigerian Securities and Exchange Commission (SEC) recently granted Approval-in-Principle to two local crypto exchanges, Busha Digital Limited and Quidax, allowing them to operate under the Accelerated Regulatory Incubation Program (ARIP). This marks a significant step towards regulating the digital asset space in Nigeria and ensuring investor protection. The approval of Busha Digital Limited and
Telegram CEO Pavel Durov has recently been released from prison but placed under judicial supervision with strict conditions. These conditions include a hefty bond of €5 million and a ban on leaving the French territory. Additionally, Durov is required to report to the police station twice a week as part of his bond obligations. Criminal