Tag: Cryptocurrency

As we step into the second month of 2024, financial institutions (FIs) and regulated entities face a future that is anything but certain. Following a year marked by considerable upheaval, the question on everyone's mind is how to best prepare for what lies ahead.

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three quarters of the world’s $4.2bn total. 2023 continued this trend, with US financial institutions paying 83% ($157.26m) of total penalty dollars, a stark contrast to their 10% share in global regulatory violations.

WISeKey International Holding, a global leader in cybersecurity, digital identity, and Internet of Things (IoT) solutions, announced its subsidiary, WISe.ART, has successfully closed a strategic investment round with The Hashgraph Association (THA), a Swiss-based non-profit accelerating the global adoption of the Hedera network.

AuditOne, a Cologne-based start-up specializing in smart contract security, has successfully raised over €800k in a seed financing round.

As cryptocurrencies become increasingly popular, the risk of scams targeting investors has grown. In response, Commonwealth Bank (CBA) has launched new safety measures aimed at safeguarding its customers. The bank will now impose restrictions, delays, and limits on certain payments to cryptocurrency exchanges.

CAT Labs, a startup building forensic and cybersecurity tools to fight crypto-enabled crime, has bagged $4.3m in its pre-seed round.

 Cryptocurrency tax and payroll platform Toku has secured $20m in a funding round led by Blockchain Capital.

Despite the rising usage of cryptocurrency, regulations are still quite bare and confusing. Principal to this is crypto tax reporting, which some countries are setting rules for, before even clarifying taxation laws.

Cryptocurrency derivatives exchange Deribit has selected Eventus’ Validus platform to provide market abuse monitoring on the exchange.

Anatoly Legkodymov, founder and majority owner of cryptocurrency exchange Bitzlato, has been charged for alleged illicit money transmitting.