Hashtag: #Cryptocurrency
U.S. SEC Charges Binance & Coinbase
[Updated] The United States Securities and Exchange Commission [SEC] has filed charges against two of the most prominent crypto companies in the world, with today’s charges against Coinbase following after the charges it filed against Binance yesterday. Coinbase A statement from the SEC about the Coinbase matter said, “The Securities and... Read more of this article
STS Digital Receives Bermuda License
STS Digital Ltd, a provider of digital asset trading solutions, said they have “obtained a license to offer its services in Bermuda.” A spokesperson said, “The license enables STS Digital to provide digital services to institutional and high net worth clients in Bermuda and around the world. “The Class T Digital Assets Business... Read more of this article
Video: Premier Burt Interviewed At Consensus
Premier David Burt was interviewed by Coindesk at the Consensus 2023 event, where he discussed Bermuda’s regulatory approach, the collapse of Bahamas-registered FTX and more. The video’s description says, “Bermuda Premier David Burt joins ‘The Hash’ live from Consensus 2023 to discuss his reaction to the FTX collapse and... Read more of this article
Govt Thanks Denis Pitcher For Contributions
The Government advised of the “departure of Mr. Denis Pitcher,” who they said “has served as an unpaid consultant for the Economic Development Department.” A Government spokesperson said, “Mr. Pitcher played a pivotal role in establishing the Fintech Unit, driving the growth of Bermuda’s fintech ecosystem, mentoring Bermudians... Read more of this article
Coinbase Granted Digital Asset Licence
Coinbase Bermuda has obtained a license from the Bermuda Monetary Authority [BMA]. An update on the company’s website said, “Coinbase Bermuda Ltd. has obtained a Class F License under the Digital Asset Business Act from the Bermuda Monetary Authority [BMA]. Bermuda was one of the first financial centers to pass comprehensive digital assets... Read more of this article
Bittrex Closed US Operations On April 30
Bittrex has announced it closed down its US operations effective April 30, noting that “this announcement does not impact Bittrex Global, which will continue operations as normal for its customers outside the U.S.” Bittrex co-founder and CEO Richie Lai said, “As a direct result of continued regulatory uncertainty and a lack of interest... Read more of this article
OBA Leader On Signature Bank, Fintech & More
[Updated] Following the closure of U.S based Signature Bank by New York regulators, Opposition Leader Cole Simons noted that in 2019 the Government “unveiled its relationship with Signature Bank as a banking service solution for Bermuda‘s fintech companies” and asked “now that this banking option is off the table, what’s next for... Read more of this article
Bittrex Global Lists Fintech Firm Circle’s EUROC
Bittrex Global announced the “strategic integration of Euro Coin [EUROC], issued by fintech firm Circle,”; both firms have a Bermuda prescence. A spokesperson said, “Bittrex Global, one of the most secure digital asset exchanges, has today announced the strategic integration of Euro Coin [EUROC], issued by global fintech firm Circle.... Read more of this article
24 Exchange Sets Record FX NDF Trade Volume
24 Exchange announced that it “has set a record for average daily FX NDF trading volume in February 2023.” A spokesperson said, “The company processed $1.49 Billion in average daily FX NDF trading volume for its global institutional customers over the course of the month, and reached a daily record FX NDF trading volume of $1.89 Billion.” 24... Read more of this article
“Relm Is Committed To The Digital Asset Space”
Following a detailed review of Relm’s entire portfolio, Relm CEO Joseph Ziolkowski said it remains “confident that we will continue to be well-capitalized to serve the needs of the industry as the fallout from this event evolves.” Mr. Ziolkowski said, “Relm is a global leader in providing insurance to companies operating in new... Read more of this article
BlockFi Inc Files For Bankruptcy In United States
BlockFi Inc and eight of its affiliates filed for bankruptcy in the United States and said “in parallel with these chapter 11 cases, BlockFi International Ltd. a Bermuda incorporated company, filed a petition with the Supreme Court of Bermuda for the appointment of joint provisional liquidators.” Their website said, “This action follows... Read more of this article
CoinDesk Money Reimagined Features Bermuda
CoinDesk’s Money Reimagined has featured Bermuda in their recent podcast episode titled “A Growing Digital Assets-Based Finance Community: Bermuda Part 2.” “On this episode of ‘Money Reimagined,’ hosts Michael Casey and Sheila Warren speak with Denis Pitcher, chief fintech adviser to the Office of the Premier in the territory, and Chancellor... Read more of this article
‘Important To Understand The Product & Its Risk’
Digital asset technology is growing in adoption, the level of risk associated will vary according to the use case and product design and it is “important for the public to understand the product and its risk before entering into any agreement,” the Bermuda Monetary Authority [BMA] said. A spokesperson said, “Digital asset technology... Read more of this article
New UK PM Once Spoke Of Cryptoasset Goals
Newly appointed British Prime Minister Rishi Sunak once said it his “ambition to make the UK a global hub for cryptoasset technology” and also asked the Royal Mint UK to create an NFT. Prime Minister Sunak previously served as Chancellor of the Exchequer, akin to our position of Finance Minister, and while in that position earlier this year,... Read more of this article
NEXT ‘Strongly Support’ Digital Asset Industry
NEXT Bermuda’s Digital Assets Industry Forum and its members said they “strongly support Bermuda and the continuous development of its Digital Asset industry.” A spokesperson said, “Bermuda is the ideal home for Digital Asset businesses, which include but not limited to Exchanges, Insurers, Funds and Banks, which are committed to... Read more of this article
US & Canada Officials File Against Arbitrade
The U.S. Securities and Exchange Commission [SEC] and Canada’s Ontario Securities Commission [OSC] have both released statements related to Arbitrade, with the SEC saying they filed charges for “perpetrating an alleged pump-and-dump scheme involving a crypto asset” while the OSC said they “filed allegations against Troy Richard... Read more of this article
