Crypto Report: Bankman-Fried ArrestFCA Approval of MoonPayChina’s First Digital ETFLaw Enforcement and CoinbaseArgo’s Restructuring Attempts
Read The Digest:
- Bankman-Fried Arrested in Bahamas US Criminal Charges
- MoonPay Granted UK Regulatory Approval by Financial Conduct Authority
- CSOP Asset Management Launches Hong Kong’s First BTC and ETH Futures ETF
- Coinbase Law Enforcement Requests Grow 66% Over The Last Year
- Argo It Attempts Restructuring, But Bankruptcy Cannot Be Avoided
Bankman-Fried Arrested in Bahamas US Criminal Charges
Sam Bankman-Fried, founder of the crashed FTX cryptocurrency exchange, was arrested in The Bahamas On Monday, December 12 after US prosecutors brought criminal charges.
The Bahamian government stated in a statement “SBF’s arrest followed the receipt of formal notice from the United States that it has filed criminal charges against SBF and is likely to request their extradition.”
According to police, Bankman-Fried’s apartment complex in Albany resort was the scene of his arrest shortly after 6 p.m. The sealed indictment of the accused was used to justify his arrest. Southern District Of New York (SDNY).
Bankman-Fried, who declined appearance before the House Financial Services Committee, is facing charges including wire fraud, wire conspiracy, securities fraud conspiration, wire fraud conspiracy, wire fraud conspiracy, money laundering, and securities fraud conspiracy.
Flip side:
- The SEC has also authorized similar charges against Bankman-Fried to be disclosed tomorrow for violations of securities laws.
Why care?
The long-running investigation into the mystery behind the collapse and arrest of one of the largest crypto empires in the world has begun.
MoonPay Granted UK Regulatory Approval by Financial Conduct Authority
MoonPay, a leader in crypto payments, has been granted a license by the UK’s Financial Conduct Authority (FCA). This is the 40th approval for a cryptocurrency provider.
MoonPay, which creates a payment infrastructure to identify customers, fight fraud, and protect crypto-businesses in 160 countries, was included on the FCA’s List of Recommended Products. “Registered Crypto Asset Companies” On December 9, 2021.
The MoonPay approval is a major victory for the company, as Sarah Pritchard, Managing Director of Markets at FCA, confirmed that 75% of all applications were rejected or withdrawn.
Flip side:
- The FCA has limited jurisdiction in the crypto industry at the moment, but it will be expanded when the legislation is passed. Financial Services and Markets Bill.
Why care?
MoonPay is now approved by FCA. This means that MoonPay can offer credit to UK customers and carry out regulated financial service activities.
CSOP Asset Management Launches Hong Kong’s First BTC and ETH Futures ETF
CSOP Asset Management has launched a futures ETF, beating out Samsung (KS:) Asset Management and Mirae Asset Global Investments to offer the first ETF in Hong Kong.
According to local media, the CSOP ETF will be listed and traded on the Hong Kong Stock Exchange On December 16. With a margin rate of 30% for instruments and 12% for others.
The Hong Kong Securities Regulatory Commission approved CSOP’s Futures ETFs. This means that investors will be protected from market manipulation and other illegal activities.
Upon opening, investors can access funds through a Hong Kong Stock account, which avoids the hassle of opening virtual asset wallets. CSOP must provide a custodian who is functionally independent from the fund manager.
