QuadrigaCX Founder’s Widow Will Cough Up $9 Million to Repay Users

Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly $9 million ($12 million CAD) in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange. Robertson announced the move in a statement on Monday, saying since her husband’s death late last year, she had “made every effort” to assist in […]

Continue Reading

New Interest in DAOs Prompts Old Question: Are They Legal?

“Ethereum is only now starting to shrug off its ‘PTSDAO,’” tweeted Ameen Soleimani, the SpankChain CEO and creator of a now-$1.2 million decentralized autonomous organization (DAO) called the MolochDAO. After an infamous hack drained “The DAO” of roughly $60 million in 2016, developers have been hesitant to kickstart new projects in its likeness. That is, […]

Continue Reading

Bitwise Taps BNY Mellon as Transfer Agent for Proposed Bitcoin ETF

Bitwise has tapped Bank of New York Mellon to serve as the administrator and transfer agent for its proposed bitcoin exchange-traded fund (ETF). The company filed an amendment to its Bitwise Bitcoin ETF S-1 form on Wednesday, listing BNY Mellon as the administrator and ETF custodian, Foreside Fund Services as the marketing agent and Cohen […]

Continue Reading

Facebook Libra, Other Cryptos Must Comply With US Rules: Treasury Official

Facebook’s Libra must achieve the highest standards of U.S. regulatory compliance prior to any launch, a U.S. Treasury official has said. Speaking to reporters in Geneva, Switzerland, Sigal Mandelker, under secretary of the Treasury for terrorism and financial intelligence, said not only Libra, but other cryptocurrencies operating in all or part of the U.S. will need […]

Continue Reading

Netki Retools Digital ID Service for FATF’s New Crypto ‘Travel Rule’

Netki has upgraded its digital identity service to help cryptocurrency firms meet tough new international standards for combating money laundering.  Announced Monday, the upgrade to TransactID adds two new features: The ability to break down certificates of a user’s identity into smaller pieces of personally identifiable information (PII); and the ability for senders and receivers […]

Continue Reading

How Celsius Turned Its Crypto ICO Into a Billion-Dollar Lending Business

The Takeaway: Crypto lending startup Celsius raised $50 million in a token sale in 2018. Lending volume has surged since then, with 10,415 Celsius users taking out fiat loans after locking in crypto collateral. BitGo confirmed to CoinDesk that it held $1 billion worth of crypto deposits from Celsius over the past year. CEL tokens […]

Continue Reading

A Big Four Audit Firm Lost $1 Million In Bitcoin. Victims Are Losing Patience

The Takeaway: QuadrigaCX’s former users are running out of patience with Miller Thomson and EY, the court-appointed companies tasked with recovering their missing funds. The users want more transparency into EY’s investigation of Quadriga’s missing funds, as well as a better understanding of how the audit firm accidentally lost 103 bitcoin earlier this year. Some […]

Continue Reading

Senior CFTC Official Who Set Bitcoin Futures Policy Is Leaving: Report

The U.S. Commodity Futures Trading Commission (CFTC) is losing another senior level staffer. Bloomberg Law reports Friday that a number of sources have said Amir Zaidi, director of the CFTC’s Division of Market Oversight (DMO), is to leave the regulator within weeks. Zaidi had been in the post since early in 2017 and was the official responsible […]

Continue Reading

Facebook Hires Two of Coinbase’s Former Compliance Managers

Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort. Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager this […]

Continue Reading

SEC’s Crypto Czar Says Exchanges That List IEO Tokens May Face Legal Risks

Certain exchanges that facilitate initial exchange offerings (IEOs) may be breaking U.S. securities laws, a top Securities and Exchange Commission official has said. Speaking Monday at CoinDesk’s Consensus 2019 conference in New York, Valerie Szczepanik, the SEC’s senior advisor for digital assets and innovation, said cryptocurrency exchanges that facilitate token sales for a fee likely […]

Continue Reading