firms

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01 Mar 23

France’s National Assembly approves stricter licensing rules for crypto firms

France has taken a significant step towards implementing new cryptocurrency regulations, with the National Assembly voting in favor of stricter licensing rules for crypto firms. The move aims to bring French laws in line with anticipated European Union (EU) standards and bolster the country’s reputation as a crypto hub. The final vote tally saw 109 […]

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14 Feb 23

US SEC to vote on new rule overseeing crypto firms as qualified custodians

Per a recent Bloomberg report, the commission is working on a draft proposal that would make it difficult for crypto firms to operate as “qualified custodians”. The US Securities and Exchange Commission (SEC) plans to propose new regulations this week that could affect the services crypto firms offer their clients. Persons familiar with the matter […]

26 Jan 23

Crypto firms face uphill battle to meet FCA standards

In a concerning discovery, a new report from the Financial Conduct Authority (FCA) reveals that a staggering 85% of cryptocurrency firms who applied for a license with the regulator failed to meet its minimum standards. Published on Jan. 26, the report, which the Treasury committee of MPs commissioned, exposed a worrying lack of compliance with […]

06 Jan 23

French central bank exec urges to license crypto firms before MiCA

In what may be a setback for a sector looking to establish its foothold in Europe, Bank of France Governor Francois Villeroy de Galhau has suggested stricter regulatory standards for cryptocurrency firms. Villeroy’s request follows a recent amendment by Hervé Maurey, a member of the Senate Finance Commission, to remove a provision allowing businesses to […]

23 Dec 22

US SEC warns investors against ‘false’ audits by crypto firms

The Securities and Exchange Commission (SEC) through its acting chief accountant, Paul Munter, has warned investors to be “very wary” of the proof-of-reserves (PoR) of crypto firms, as most of them may be inaccurate. SEC raises concerns over crypto exchanges’ PoR audits Following the abrupt collapse of FTX, whose CEO, Sam Bankman-Fried is currently on […]