{
Anti-Money Laundering (AML) Regulations

SubCategory

}
court denies biT global request to halt coinbase wBTC delisting
A federal judge in California has denied BiT Global's request to halt Coinbase's delisting of wrapped Bitcoin (wBTC), citing insufficient evidence of imminent harm. The ruling allows Coinbase to proceed with the delisting, which it justified due to concerns over ties to Justin Sun, who faces fraud charges from the SEC. Coinbase now has 30 days to respond to broader claims in BiT Global's lawsuit, which includes allegations of attempted monopolization.
CryptoPotato
Coinbase Global, Inc. USA Araceli Martínez-Olguín Sonal Mehta Justin Sun Paul Grewal Show more
Regulatory & Legal, Press Release
19:18 19.12.2024
investors sue creators of hawk tuah meme coin after disastrous launch
Haliey Welch, known as the "Hawk Tuah" girl, faces a federal lawsuit after her meme coin, HAWK, plummeted 93% shortly after launch, leading to allegations of rug-pulling and insider collusion. The lawsuit, filed by Burwick Law, claims investors suffered over $151,000 in damages, naming several defendants including Welch and Doc Hollywood. Amid the fallout, Welch has remained silent on social media, while her partners blame each other for the project's failures.
Decrypt
United States Dollar Carlo D'Angelo Hailey Welch Elton John Show more
Regulatory & Legal, News Article
18:32 19.12.2024
bitfinex hacker takes full blame after sentencing while wife promotes brand
Ilya Lichtenstein, sentenced to five years for the 2016 Bitfinex hack, took full responsibility for the crime in a recent social media statement, distancing his wife, Heather Morgan, from the hack itself. Morgan, who received 18 months for money laundering, has resumed promoting her brand online, charging $125 for personalized video messages. A restitution hearing is set for February 21, with plans for user reimbursements to begin in early 2024.
Cointelegraph
Netflix, Inc. USA Heather Morgan Caroline Ellison Ilya Lichtenstein Show more
Regulatory & Legal, News Article
17:38 19.12.2024
nigerian sec enforces stricter rules on crypto marketing and influencers
The Nigerian Securities and Exchange Commission (SEC) has tightened regulations on crypto marketing, requiring virtual asset service providers (VASPs) and social media influencers to obtain prior approval for promotions. Influencers must verify the licensing of promoted companies and disclose any payments received, with penalties for non-compliance including fines and imprisonment. The SEC plans to enforce actions against unregulated crypto transactions, aiming to curb unauthorized financial promotions in the country.
Cointelegraph
Nigerian Naira NGA Emomotimi Agama
Regulatory & Legal, News Article
14:58 19.12.2024
north korean hackers steal record 1.34 billion in cryptocurrency in 2024
In 2024, North Korean hackers accounted for 61% of the $2.2 billion stolen in cryptocurrency, marking a significant increase from the previous year. Their operations have evolved, focusing on high-value breaches, with notable incidents involving $50-$100 million and over $100 million. Despite a surge in thefts during the first half of the year, activity slowed in the latter half, potentially due to shifting priorities amid geopolitical tensions.
CryptoPotato
PRK USA RUS UKR Show more
Regulatory & Legal, News Article
14:00 19.12.2024
bank staff association demands accountability after credit suisse downfall
The Swiss Bank Employees Association is demanding accountability from FINMA and the Federal Council ahead of the PUK's report on Credit Suisse's downfall. They criticize the supervisory authorities for allowing risky practices and call for the resignation of FINMA Chairwoman Marlene Amstad, emphasizing the need for personal liability among top bank management. The association also urges for enhanced regulatory measures and a commitment from UBS to uphold responsible HR policies amidst job cuts.
finews.ch
Credit Suisse High Yield Bond Fund, Inc. CHE Natalia Ferrara Marlene Amstad
Regulatory & Legal, News Article
10:48 19.12.2024
bank staff association demands accountability after credit suisse downfall
The Swiss Bank Employees Association is demanding accountability from FINMA and the Federal Council ahead of the PUK's report on Credit Suisse's collapse. They criticize the supervisory authorities for allowing risky practices and call for the resignation of FINMA Chairwoman Marlene Amstad, emphasizing the need for personal liability among top bank executives. Additionally, they urge UBS to uphold responsible HR policies and collaborate on tightening regulations to protect the banking sector.
finews.ch
Credit Suisse High Yield Bond Fund, Inc. CHE Marlene Amstad Natalia Ferrara
Regulatory & Legal, News Article
10:48 19.12.2024
ubs financial services fined for inadequate supervision of preferred stock trading
UBS Financial Services Inc. has been fined $500,000 by FINRA for failing to maintain a supervisory system over short-term trading of syndicate preferred stocks, which led to customer financial losses while generating over $2.6 million in commissions for the firm. Additionally, UBS-FS will pay $343,914 in restitution to affected customers and has since implemented revised procedures and an enhanced trade review system to rectify these issues.
LeapRate
United States Dollar UBS Financial Services Inc. CHE
Regulatory & Legal, Press Release
10:30 19.12.2024
bank staff association demands resignation of finma president amid credit suisse fallout
The Swiss Bank Employees Association is demanding the resignation of FINMA President Marlene Amstad following the PUK report on Credit Suisse's collapse. They criticize the supervisory authorities for allowing the bank to operate with insufficient equity and call for clearer responsibilities and personal liability for top management. The association emphasizes the need for stronger regulatory instruments and accountability to prevent a repeat of such failures.
watson.ch
Credit Suisse High Yield Bond Fund, Inc. USA CHE Marlene Amstad Natalia Ferrara
Regulatory & Legal, News Article
09:42 19.12.2024
ubs financial services fined 500000 for unsuitable trading practices
UBS Financial Services Inc. has agreed to pay a $500,000 fine as part of a settlement with FINRA due to failures in its supervisory system from January 2017 to December 2018. The firm did not adequately assess whether its representatives recommended unsuitable short-term trades of syndicate preferred stocks, resulting in customer losses while representatives earned commissions. UBS-FS violated FINRA Rules 3110 and 2010, leading to the imposed sanctions.
FX News Group
UBS Financial Services Inc.
Regulatory & Legal, Press Release
07:01 19.12.2024
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