ChainCatcher news, according to Portal Do Bitcoin, Argentina's Financial Information Unit (UIF) and the Securities Commission (CNV) have conducted on-site supervision of a Bitcoin and cryptocurrency exchange for the first time to identify risks related to money laundering, terrorist financing, and the financing of weapons of mass destruction.This inspection is part of the UIF's 2024 annual regulatory plan and took place at an undisclosed exchange in the city of Rosario, Santa Fe Province. According to Resolution No. 49/2024, virtual asset service providers are required to report to the UIF and register with the CNV. This move comes as Argentina increases its vigilance against cryptocurrency-related scams, with recent reports of unregistered platforms involved in fraudulent activities.

ChainCatcher news, former cryptocurrency company CEO Tom was robbed of $450,000 due to connecting to a "friend's" WiFi.Anti-money laundering companies state that such "intimate crimes" are on the rise, with scammers exploiting relationships with victims. Security companies advise avoiding the use of cryptocurrency wallets on public WiFi networks and enabling security measures such as two-factor authentication.

ChainCatcher news, digital asset trading software provider Talos Trading Inc. is preparing to double its workforce in the Asia-Pacific region over the next 12 months.The New York-based cryptocurrency unicorn, backed by A16z, has identified Asia as its primary market, benefiting from its strong cryptocurrency foundation and regulatory clarity in jurisdictions such as Hong Kong, Singapore, and Japan.The Asia region currently contributes the majority of Talos's revenue. It is reported that Talos completed a $40 million Series A funding round in 2021, led by a16z, with participation from PayPal Ventures and Fidelity Investments.

ChainCatcher news, according to CoinGecko statistics, the settlement amount between cryptocurrency companies and U.S. regulators has reached $32 billion so far, with the largest amount being FTX and Alameda, with a settlement amount of $12.7 billion, followed by Celcius ($4.7 billion), Terraform Labs ($4.5 billion), and Binance ($4.3 billion).

ChainCatcher news, Allan Kirkland, a commissioner of the Australian Securities and Investments Commission (ASIC), stated at the AFR Digital Assets Summit that many cryptocurrency companies will need to obtain financial services licenses under the Corporations Act.ASIC believes that certain crypto assets should be classified as financial products, but there is uncertainty due to the crypto sector not fully aligning with the current regulatory framework. ASIC plans to update its guidelines before November to clarify the classification and treatment of relevant crypto tokens. ASIC has also strengthened its regulation of the crypto industry, recently taking enforcement action against Kraken and the Australian Securities Exchange (ASX).

ChainCatcher news, according to Cointelegraph, the Bank of Latvia is taking proactive measures to provide free pre-licensing consultations for crypto asset service providers in line with the upcoming EU cryptocurrency regulations.Starting from January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. Meanwhile, the bank stated that it is helping businesses prepare for this through free pre-licensing consultations. Central bank experts will provide businesses with regulatory guidance tailored to their needs, all necessary documentation, and an initial assessment of each business's compliance level.

ChainCatcher news, the UK's Financial Conduct Authority (FCA) stated that over 87% of the crypto company registrations received in 2023-24 did not meet the approval standards.The FCA mentioned in its annual report that out of 35 applications received in the 12 months ending March 31, only 4 successfully qualified. The companies that successfully registered include Binance's payment partner BNXA (a subsidiary of PayPal UK) and Nomura's cryptocurrency custody joint venture Komainu. The remaining companies were either denied a license or rejected due to a lack of key elements required for assessment.

ChainCatcher news, OKX SG has received a major payment institution license issued by the Monetary Authority of Singapore. OKX Star stated on social media, "We will continue to invest in, build, and support the local fintech community and blockchain ecosystem in Singapore. We are committed to fulfilling our obligations to global regulators and continue to build OKX as a highly compliant cryptocurrency company. Over 10% of our employees are professional lawyers and compliance managers. At the same time, we also focus on innovation and will continue to launch excellent products to serve 50 million customers worldwide."

ChainCatcher news, according to DL News, the UK's Financial Conduct Authority (FCA) has not approved any cryptocurrency company registration applications for six consecutive months, putting the country's vision of becoming a global hub for crypto assets technology on hold. FCA data shows that 34 applications were received in the past 12 months, with only 4 approved, the most recent of which was in February this year.The UK's Financial Conduct Authority stated that most crypto companies failed to meet its anti-money laundering standards, emphasizing that companies must be "appropriate and competent" and have systems in place to identify and prevent the flow of criminal funds. However, industry lobbyists complain that the FCA's rules are overly cumbersome and confusing, particularly regarding consumer marketing regulations. Nevertheless, the FCA is working with businesses to help them meet compliance requirements. Against this backdrop of tightening regulation, several companies, including Binance and PayPal, have suspended their crypto services in the UK.

ChainCatcher news, according to Bloomberg, last week a federal judge ordered Ripple Labs Inc. to pay a $125 million civil penalty because the company sold its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC). This fine is just a small part of the $2 billion the agency is seeking, which could be good news for other crypto companies fighting the SEC.Ripple's case began in December 2020 when the SEC sued Ripple and its executives, accusing them of "creating an information vacuum." This lawsuit united the entire crypto industry in support of XRP. More than a dozen advocacy groups wrote to U.S. District Judge Analisa Torres, supporting Ripple's position. Since then, the SEC has initiated enforcement actions against several crypto companies. However, Ripple's case is seen as a potential milestone that could set a precedent regarding whether cryptocurrencies are considered securities.The judge issued an injunction prohibiting Ripple from further violating securities laws. However, she rejected the SEC's request for Ripple to return sales profits, stating that the case "does not involve allegations of fraud, misappropriation, or other more serious conduct," and that the SEC failed to prove that Ripple's unregistered sales caused significant losses to investors.The SEC may challenge the judge's ruling in an appeal. Bloomberg Intelligence analyst Elliot Stein stated that Torres's latest ruling is favorable for Coinbase Global Inc. in its fight with the agency and may increase its chances of obtaining a favorable ruling in the case.

ChainCatcher news, citing Bloomberg via unusual_whales, reports that a dozen cryptocurrency-related companies have opened or plan to open offices in New York this year.

ChainCatcher news, according to CoinDesk, since the financial promotion rules came into effect on October 8 last year, the UK's Financial Conduct Authority (FCA) has issued over 1,000 warnings to crypto companies. Under the new rules, crypto companies must be registered with the FCA to promote to UK customers.FCA's Director of Consumer Investments, Lucy Castledine, stated in an interview that these actions have led to the removal of 48 apps from local app stores in the UK.

ChainCatcher news, according to Fortune, sources say that advisors to Harris's campaign have been in contact with major players in the crypto industry to build relationships and develop a regulatory framework.The report states that in recent days, this outreach has included cryptocurrency exchange Coinbase, stablecoin company Circle, and blockchain payment company Ripple Labs.Sources say that the message Harris wants to convey is that Democrats are "pro-business and responsible enterprises."

ChainCatcher news, Lithuania imposes a record fine of 9.3 million euros (approximately 10.1 million dollars) on the crypto company Payeer for sanctions and money laundering violations.The Lithuanian Financial Crime Investigation Service stated in a statement released on Tuesday that Payeer allowed Russian clients "to conduct ruble transactions by transferring funds from EU-sanctioned Russian banks." The statement noted that Russian individuals and legal entities were "given the opportunity to access cryptocurrency wallets, account management, or storage services."

ChainCatcher news, in the ongoing investigation and legal action by the Australian Securities and Investments Commission (ASIC), the Australian cryptocurrency company NGS Crypto has changed its name to "Hiddup". NGS Crypto claims they are rebranding due to a trademark dispute.Additionally, ASIC has accused NGS Crypto and its affiliated companies of providing financial services without holding an Australian financial services license, involving an amount of approximately AUD 61 million (about USD 41 million).

ChainCatcher news, according to The Block, the top financial regulator in New York State has stated that companies designated as "Virtual Currency Entities" (VCE) in New York must establish policies and procedures to promptly address customer service requests and complaints.Adrienne Harris, the Superintendent of the New York State Department of Financial Services, stated in a statement that consumers have the right to a transparent and timely complaint resolution and issue response process, regardless of which company or product is involved. This means that virtual currency companies licensed in New York must analyze the requests and complaints received on a quarterly basis and are subject to monitoring by the New York State Department of Financial Services.

ChainCatcher news, the cryptocurrency trading and lending company VersiFi, co-led by former Genesis executives, has acquired the crypto trading technology startup Ather Digital, with the acquisition amount undisclosed. This deal will help VersiFi enhance direct market access, algorithmic trading, and smart order routing on its platform.VersiFi will integrate Ather's trading technology into its platform and expand in the UAE.According to Web3 asset data platform RootData, VersiFi is a digital asset service platform with a mission to reduce counterparty risk. VersiFi's plug-and-play platform is designed to integrate an ecosystem of trusted and regulated exchanges, liquidity providers, custodians, and lenders to offer clients comprehensive, compliant solutions that simplify the trading lifecycle and reduce counterparty risk for individual companies.

ChainCatcher news, according to market news, the crypto company Genesis has defeated the challenge from its parent company DCG and has been approved to repay billions of dollars to creditors. (unfolded)Previously in April, Gemini Trust released an update regarding the Earn program: At a hearing on April 16, the bankruptcy court verbally approved a global settlement agreement among Gemini, Genesis, and other creditors in the Genesis bankruptcy case. This is another milestone in the process of fully restoring the digital assets of Earn users.The settlement agreement stipulates that as of the pause date (November 16, 2022), the initial distribution amount to Earn users is approximately 97% of the digital assets owed to them, with the initial distribution expected to take place at the end of May or early June. The remaining distribution amount will come from Digital Currency Group, Inc.