Topic: crypto assets
Cayman to implement new digital currency reporting rules
The Cayman Islands will be one of the first jurisdictions to comply with the OECD’s new cryptocurrency tax reporting regulations.
IMF says banning crypto should not be ‘off the table’
The managing director of the International Monetary Fund, Kristalina Georgieva, has called for a strong regulatory push tackling crypto assets and failing that even considering a ban.
Crypto lender Nexo takes Cayman regulator to court over licence rejection
Nexo Capital Inc is appealing the rejection by the Cayman Islands Monetary Authority of the crypto lender’s application for a virtual asset service provider licence.
Another crypto bust: BlockFi files for bankruptcy
Crypto lender BlockFi has filed for bankruptcy on Monday in the widening contagion following the implosion of crypto exchange FTX.
Bleak prospects for FTX customers
The bankruptcy of crypto exchange FTX took another turn for the worse this weekend when more than US$600 million mysteriously disappeared from both FTX’s international and US exchanges.
FTX files for US bankruptcy after Bahamas regulator freezes assets
Crypto exchange FTX has filed for bankruptcy protection in the United States after it was unable to process a deluge of withdrawal requests earlier in the week.
Eight US states order crypto lender Nexo to halt yield products
California and New York have joined six other US state securities regulators by bringing actions against Nexo Group over the crypto lender’s interest-bearing cryptocurrency accounts.
Sparkster to pay $35 million in SEC settlement of unregistered crypto asset offering
Cayman-registered Sparkster Ltd has agreed to pay $35 million to settle charges brought by the US Securities and Exchange Commission over the software company’s 2018 crypto token offering.
NFTs: Speculative crypto art market going through a cold spell
Digital art and collectibles do not vary much from their physical counterparts, and valuation methods can be just as opaque.
Blockchain.com granted registration as virtual asset services provider
Blockchain.com, one of the longest-established crypto businesses and a pioneer of bitcoin infrastructure, has obtained registration in the Cayman Islands under the Virtual Asset Services Providers Act.
Crypto lender Celsius files for bankruptcy
Crypto lender Celsius Network, which suspended withdrawals in June after massive sell-offs in the digital asset markets, has filed for bankruptcy protection in a New York federal court.
Application to put liquidation of failed crypto funds under court supervision
The voluntary liquidators of New World Holdings, the parent company of failed Cayman crypto funds managed by Invictus Capital, have petitioned the Grand Court to supervise the liquidation.
Two Cayman crypto funds to close after Terra stablecoin collapse
Two Cayman crypto funds operated by Invictus Capital have been caught out by last month’s implosion of stablecoin TerraUSD.
‘Cryptopia’ separates the hype from the future of the internet
The 2020 documentary CRYPTOPIA, one of the feature films at the Cayman Documentary Festival, talks to the big brains and big egos of the crypto and blockchain world.
FSB warns crypto assets threaten global financial stability
The Financial Stability Board (FSB) has warned digital assets have reached a point where they are a threat to global financial stability because of their scale, structural vulnerabilities and increasing interconnectedness with the traditional financial system.
Hackers steal $150M from crypto exchange BitMart
Cayman-registered crypto exchange BitMart has lost at least $150 million after a security breach.
First US Bitcoin ETF launches using Cayman structure
The first U.S. Bitcoin futures exchange traded fund (ETF) launched this week with close to $1 billion in shares traded on the first day.
Binance CEO says ‘compliance is a journey’
Changpeng ‘CZ’ Zhao, CEO of beleaguered crypto exchange Binance, has described clear regulations as critical for growth of the virtual asset industry in an open letter this week.
CIMA: Binance not authorised to operate crypto-currency exchange
The Cayman Islands Monetary Authority announced that the Binance Group and Binance Holdings Limited are not registered, licensed, regulated or otherwise authorised to operate a crypto-currency exchange from or within the Cayman Islands.
Investors sue Cayman crypto start-up for fraud
Two investors have sued Crowd Machine Inc of Delaware and its affiliate, Cayman-based Crowd Machine SEZC, alleging “a massive investment fraud” in relation to the cryptocurrency start-up’s Cayman initial coin offering.
UK regulator bans world’s largest crypto exchange
The Financial Conduct Authority has warned that Binance is not allowed to offer regulated services in the UK.
Cayman most popular domicile for crypto funds
The Cayman Islands and the United States remained the top two jurisdictions for crypto hedge funds last year, despite losing market share.
Wireline settles unregistered token sale charges with SEC
Blockchain microservices startup Wireline will pay US$650,000 to settle charges filed by the US Securities and Exchange Commission over a $16.3 million crypto token sale in late 2018.
Regulation of crypto asset services enforced in phases
Cayman’s regulatory framework for service providers in the virtual asset space entered into force on 31 Oct. with the first of two phases.
OECD to release crypto tax-reporting framework in 2021
The Organisation for Economic Cooperation and Development is next year planning to release a tax-reporting framework for crypto assets based on the common reporting standard (CRS).
