ChainCatcher news, according to FinanceFeeds, the Cyprus Securities and Exchange Commission (CySEC) has extended the suspension period of the Cyprus Investment Firm (CIF) license for FTX.com until May 30, 2025. This license previously allowed the insolvent platform to operate throughout Europe.According to a regulatory announcement, during the suspension of authorization, FTX EU is prohibited from providing services or establishing business relationships with anyone, and from accepting any new clients. Furthermore, the company is not allowed to execute any client instructions for purchasing financial instruments, nor to provide any investment services within or outside Cyprus. Additionally, the suspended brand must not promote itself as an investment service provider or publish related advertisements. They must also close all open positions related to client contracts by the contract expiration date or upon client request, and refund all funds and profits.Although FTX EU has announced that it has initiated a process allowing clients to request their final balance before withdrawing fiat funds from their company-isolated client accounts, CySEC has still decided to extend the suspension period.

ChainCatcher news, according to Cointelegraph, the EU will transition from national laws regarding Crypto Asset Service Providers (CASP) to the Markets in Crypto-Assets Regulation (MiCA) by December 30. The Cyprus Securities and Exchange Commission (CySEC) is providing a model for this transition by freezing CASP applications and warning market participants of the upcoming changes.Starting from October 17 (the date of the announcement), CySEC will no longer accept CASP applications submitted under Cyprus national law. CASPs that successfully registered under national law before the December 30 deadline will be able to operate in that jurisdiction until July 1, 2026, unless authorized or denied authorization under Article 63 of MiCA before then. Once the MiCA regulations come into effect, CASPs will be subject to the Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) of the European Commission.These standards have not yet been published, but CySEC advises relevant parties to refer to the draft Technical Standards published by the European Securities and Markets Authority (ESMA) during this period. On October 30, CySEC will stop accepting notifications of intent from EEA entities to provide services in Cyprus under Cyprus national rules; entities that submit notifications before this date will be able to operate under the same conditions as local entities until July 1, 2026.

ChainCatcher news, according to Cointelegraph, Cypriot regulators are calling on accounting and auditing professionals to help identify and prevent terrorist financing activities, with a particular emphasis on five methods of fund transfer, including cryptocurrencies. The Institute of Certified Public Accountants of Cyprus (ICPAC) is the regulatory body for the accounting industry on the island, and it has issued a "Terrorist Financing Alert" to combat this crime.While law enforcement primarily deals with financial crimes such as money laundering and terrorist financing, ICPAC hopes to involve accounting professionals in oversight. According to ICPAC, terrorist organizations use five methods to transfer funds, which include donations through non-governmental organizations (NGOs), cash, bank transfers and gift cards, cryptocurrencies, and shell companies.

ChainCatcher message, ZKsync Developers announced on social media the introduction of a regular data pruning feature for ZKsync nodes, allowing users to configure nodes to automatically delete batch data that exceeds a set threshold, optimizing storage without affecting performance.

ChainCatcher news, according to CoinDesk, the European Banking Authority (EBA) released the final draft of the technical standards for prudential requirements that companies must comply with under the Markets in Crypto-Assets (MiCA) legislation on Thursday. The EBA's standards establish the criteria for stress testing programs and detail the liquidity requirements for reserve assets, as well as the recovery plans that issuers need to develop.The recently published proposal states: "Issuers of asset-referenced tokens need to conduct stress tests based on reasonable financial stress scenarios, and the competent authority will be able to increase the own funds requirements for issuers of asset-referenced tokens based on the risk outlook and the results of the stress tests."This technical standard draft was developed in close cooperation with groups from 27 countries, the European Securities and Markets Authority (ESMA), and the European Central Bank (ECB), among other institutions. MiCA is a comprehensive set of tailored rules designed for the cryptocurrency industry, passed last year. The legislation sets rules for cryptocurrency companies and stablecoin issuers.

ChainCatcher news, Denis Beau, the First Deputy Governor of the Banque de France, recently revealed that the central bank's prudential supervisory authority, ACPR, is working with the industry to certify smart contracts. "In 2024, we will continue to work with stakeholders on an important proposal from the ACPR, which is to mandate certification of smart contracts before their use." Mr. Beau pointed out that France's early regulations on crypto assets significantly influenced the MiCA regulation.

ChainCatcher news, the Cyprus Securities and Exchange Commission (SEC) has extended the suspension period of FTX Europe's license, prohibiting the company from providing services until September 30, 2024.The agency stated that FTX Europe must take necessary actions to comply with the relevant provisions of the Investment Services and Activities and the Regulated Markets Law. FTX Europe is prohibited from providing investment services and engaging in any business transactions or accepting any new clients. The announcement noted that the company is also prohibited from advertising investment services.On the other hand, the regulatory authority requires FTX Europe to complete all transactions and client transactions as requested by customers. The Cyprus Securities and Exchange Commission ordered the company to also refund all funds and financial instruments belonging to its clients.

ChainCatcher news, according to Finance Magnates, the Cyprus Securities and Exchange Commission (CySEC) has once again extended the suspension of the license for the cryptocurrency trading platform FTX EU, which will last until September 30. This is part of the ongoing regulatory scrutiny faced by FTX EU amid multiple legal and operational issues. Although FTX EU has entered bankruptcy proceedings, the Cyprus regulator's notice emphasizes that as long as the license is suspended, the exchange cannot "provide/conduct investment services/activities, engage in any commercial transactions with anyone, and accept any new trades."

ChainCatcher news, according to CoinDesk, Citibank has partnered with traditional financial giants WisdomTree and Wellington Management to conduct a proof of concept for the tokenization of private equity funds on the Avalanche subnet Spruce, testing various use cases including end-to-end token transfers, secondary transfers for trading, and validating new features through collateralized loans.It is reported that the Spruce subnet is specifically designed for large financial institutions looking to utilize public blockchain infrastructure.

ChainCatcher news, Hut 8 announced that Chief Business Officer Matt Prusak will leave on January 31. The company will take over five mining sites from Celsius located in Texas and provide "end-to-end management services." Matt Prusak will serve as the CEO of the relevant mining sites.It is reported that Hut 8 has signed a four-year agreement with Celsius, committing to pay an annual management fee of $20 million "in addition to the new company's restricted stock and incentive equity." It is said that Celsius invested hundreds of millions of dollars in building mining equipment before its bankruptcy, and its Texas mining sites have a mining capacity of 12 exahash (EH/s).

ChainCatcher news, Alex Pruden, the CEO of the programmable privacy network Aleo, officially announced today his resignation as CEO to take on the role of Executive Director of the newly established Aleo Foundation.

ChainCatcher news, according to Cyprus Mail, the Cyprus Ministry of Finance plans to impose severe penalties on cryptocurrency service providers (CSPs) that fail to register with the relevant authorities. These penalties include fines of up to €350,000 and up to five years in prison, or both.The Cyprus Ministry of Finance intends to amend the current Anti-Money Laundering and Terrorist Financing Law and has submitted a draft amendment to the parliamentary legal affairs committee. According to the amendment, every service provider using crypto assets must register with the financial regulator, the Cyprus Securities and Exchange Commission (CySEC).

ChainCatcher news, social investment platform eToro has announced that it has obtained registration as a Crypto Asset Service Provider (CASP) from the Cyprus Securities and Exchange Commission (CySEC). This registration will authorize it to provide regulated crypto services to all EU countries through an entity called eToro Europe Digital Assets. This registration will specifically take effect once the EU Crypto Assets Market Regulation (MiCA) is implemented in December 2024.

ChainCatcher news, after exiting the Dutch and Cypriot markets, a Binance spokesperson stated that in the next 18 months, before the EU implements new crypto regulations, Binance will focus its business on EU countries such as France, Italy, and Spain. The spokesperson mentioned that Binance is working hard to ensure its business is fully compliant with MiCA. (source link)

ChainCatcher news, according to CoinDesk, shows that Binance's Cyprus subsidiary, Binance Cyprus Limited, is under review for a deregistration application, as indicated by the website of the Cyprus Securities and Exchange Commission. It is reported that Binance obtained registration as a Crypto Asset Service Provider (CASP) last October, allowing it to offer spot, custody, staking, and card services in Cyprus. (Source link)

ChainCatcher message, according to PeckShield monitoring, the application Swaprum on Arbitrum experienced a Rug Pull, with SAPR dropping by 100%. Swaprum has deleted its social accounts, and the scammers bridged 1628 ETH (approximately 3 million USD) to Ethereum and transferred 1620 ETH to Tornado Cash. (source link)

ChainCatcher news, cryptocurrency custody technology provider Fireblocks announced support for the Avalanche subnet testnet Spruce. Fireblocks users can custody Spruce subnet tokens and initiate transactions on the Spruce testnet directly from the Fireblocks console and API.Previously reported, on April 13, Avalanche launched the Evergreen subnet testnet Spruce, with initial institutional partners including T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland. Participating institutions will use Spruce as a testnet for various applications and assets to measure the benefits of on-chain transaction execution and settlement. (Source link)

ChainCatcher news, Avalanche announced the launch of the testnet Spruce for the Evergreen subnet. The initial institutional partners for this testnet include T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland. Participating institutions will use Spruce as a testnet for various applications and assets to measure the benefits of on-chain transaction execution and settlement.The Spruce testnet is designed to allow institutional participants on both sides of a transaction to engage with public blockchain infrastructure in a low-risk, low-barrier manner. Using worthless tokens enables institutional participants to experience the full capabilities of the Avalanche subnet architecture without putting funds at risk.Previously on April 6, Avalanche announced the launch of the Avalanche Evergreen subnet, which will be a set of institutional blockchain deployment services and tools specifically designed for financial services. (Source link)

ChainCatcher news, the Economic Daily published an article titled "Prudent Development of Virtual Assets Takes a Key Step," stating that the virtual asset ETF launched by Southern Eastern Asset Management Co., Ltd. officially began trading on the Hong Kong Stock Exchange on December 16. This is one of the first virtual asset ETFs in the Asian market, marking a significant step forward for Hong Kong in the development of virtual assets. Hong Kong is closely following the trend of financial development and bravely navigating the "crypto space," demonstrating agility in seizing opportunities, an open and inclusive atmosphere, and a proactive spirit in facing challenges. This positive and proactive stance has generated great expectations for Hong Kong to consolidate and enhance its status as an international financial center. (source link)

ChainCatcher news, Web3 application interaction development company Irerobot announced the completion of a €500,000 seed round financing, with participation from the Research and Innovation Foundation of Cyprus. This funding will be invested in its flagship project ACETT.In addition to this funding, KV Fund and Kinisis Ventures also provided support to Irerobot, with the former injecting an additional €300,000 to help accelerate the development of commercial applications supporting haptic technology, while the latter will offer guidance and more business networking opportunities to open up the U.S. market. Irerobot's proprietary algorithms, software, and hardware can embed smartwatches, smartphones, VR/XR devices, and other human-computer interfaces into Web3 applications. (source link)