Payeer Faces €9.3M Penalty: EU Sanctions Violations Shake Cryptocurrency Sector

Lithuanian authorities have imposed a substantial €9.3 million fine on Payeer, a major player in the cryptocurrency payment services sector. The penalty arises from alleged breaches of EU sanctions against Russia, underscoring the heightened regulatory scrutiny impacting digital finance platforms in Europe.

Standard Chartered’s Zodia Markets Set to Acquire Elwood Technologies’ OTC Division...

In a strategic move to enhance its presence in the digital asset space, Zodia Markets, the crypto trading unit of Standard Chartered, is in advanced negotiations to acquire the OTC crypto trading division of Elwood Technologies, backed by billionaire Alan Howard. This acquisition aims to integrate advanced trading technology and liquidity solutions, significantly boosting Zodia's capabilities and market reach.

Crypto Market in Fear as Liquidations Surge and Bitcoin Dips Below...

Bitcoin's price plunged below $54,000, causing $665 million in liquidations within 24 hours and spreading fear across the crypto market. Ethereum and Solana also saw significant declines as economic concerns and the impending Mt. Gox payouts further rattled investors.

Crypto Security Breaches Cost $1.19B in 2024: A Call for Stronger...

In the first half of 2024, the cryptocurrency industry faced $1.19 billion in losses due to major security breaches. These incidents highlight the urgent need for enhanced security measures and regulatory interventions to protect digital assets.

Silvergate Bank Settles $63M with SEC Over Misleading AML Statements

Silvergate Bank has agreed to a $63 million settlement with the SEC over allegations of misleading statements about its anti-money laundering program, highlighting the increasing regulatory scrutiny on crypto-friendly financial institutions. This case, linked to the collapse of FTX, underscores the critical need for robust compliance in the evolving cryptocurrency market.