(A cryptocurrency trading platform, Voyager Digital Ltd., recently announced that it is using anti-money laundering (AML) solutions from NICE Actimize. Voyager has signed onto the cloud-based AML Essentials offerings and will be using the Suspicious Activity Monitoring and Customer Due Diligence applications to monitor its operations. The news gave FTF News an opportunity to reach… Read More >>
Millennial Wave Coming for Financial Advisors: Survey
Apparently, there’s at least one thing that the Millennial generation likes that their Boomer parents also like — enlisting financial advisors. This might be good news for securities trading firms worried that the wealth of young America was heading down a cryptocurrency rabbit hole. This was uncovered via a new study sponsored by post-trade systems… Read More >>
BitMEX Entities Settle with CFTC, FinCEN for $100M
The Commodity Futures Trading Commission (CFTC) reports that the U.S. District Court for the Southern District of New York has filed a consent order against five companies charged with operating the BitMEX cryptocurrency derivatives trading platform. The five companies are HDR Global Trading Ltd., 100x Holding Ltd., ABS Global Trading Ltd., Shine Effort Inc Ltd.,… Read More >>
Crypto Regs Are on SEC Chair’s Radar
SEC Chair Gary Gensler says that the regulator must consider ways to protect investors vulnerable to the “Wild West” of cryptocurrencies, the trading and custody for crypto-based instruments, and the tokenization bandwagon. In remarks at the Aspen Security Forum on Aug. 3, Gensler noted that “the crypto asset class has ballooned. As of Monday [Aug…. Read More >>
Crypto Assets Mean Digital Ops for Hedge Funds
Over the next five years, hedge funds are on track for a greater embrace of crypto assets for their investments, and digital overhauls to manage cutting-edge securities operations, according to a survey released in late May by fund administration services provider Intertrust Group, based in Amsterdam, The Netherlands. The company surveyed 100 senior-level professionals at… Read More >>
‘State Street Digital’ to Offer Crypto Asset Services
Nadine Chakar Tapped to Head New Division The financing of digital assets will be a key focus for a new division of custodian State Street Corp. The just-launched State Street Digital is tasked with building upon the firm’s current digital capabilities, and then expanding into cryptocurrencies, central bank digital currency, blockchain, and tokenization, officials say…. Read More >>
Should the SEC Become a Crypto Cop?
The Securities and Exchange Commission (SEC) may be taking on more oversight of the cryptocurrency trading world as there are many troubling regulatory gaps, says SEC Chair Gary Gensler in testimony May 26 before the subcommittee on financial services and general government, which is part of the U.S. House Appropriations Committee. In testimony that covered… Read More >>
Gensler’s SEC Will Face ESG, Crypto & Investor Woes
By a vote of 53 to 45, Gary Gensler, a former CFTC chairman, won confirmation by the U.S. Senate to become the next chair of the SEC, ushering in what many expect will be a new era of regulation requiring adherence to Environmental, Social, and Governance (ESG) reforms. The Senate vote, which got the support… Read More >>
CFTC Pursues Alleged Bitcoin Swindler Gone Missing
It looks like a classic case of take the money and run. Following its investigation, the Commodity Futures Trading Commission (CFTC) has gone to the United States District Court for the Southern District of New York and been awarded a massive default judgment against an alleged bitcoin fraudster. That alleged bitcoin fraudster is one Benjamin… Read More >>
Gensler’s SEC Chair Nomination Advances Amid GOP Pushback
Gary Gensler, President Joe Biden’s nominee for SEC chairman, last week won the approval of the U.S. Senate Banking Committee by a vote of 14 in favor to 10 against, signaling some resistance among Republicans as his nomination moves to a full vote before the U.S. Senate. If approved by the Senate, Gensler and the… Read More >>
