Latest Breaking Crypto News: $2 million investment from a UK bank, Coinbase and SEC fights, bitcoin’s fall because of Elon Musk, and an explanation of AML rules.
Hi! To keep you up to date with all the latest news, but without wasting a lot of time, we’ve collected a quick round-up of the week’s highlights.
SEC accuses ex-Coinbase manager of the abuse of power, the crypto service help them in the investigation
The SEC is conducting an investigation. A former Coinbase manager is suspected of exceeding his authority and abusing the power granted to him.
A former employee along with his brother used the company’s insider information, which brought them $1.5 million in illegal profits for a year. No such precedent had previously been set in the world of cryptocurrency assets.
Read more: Coinbase faces SEC probes: should we wait for more restrictions in 2022?
Barclay’s “small” major investment in 2022 or how they invest $2 million in a crypto startup
British bank Barclay made a “modest” $2 million investment in cryptocurrency firm Copper last week. Copper offers premium brokerage, custodial, and settlement services to investment firms. We can safely assume that large financial institutions are finally realizing the power of blockchain and the crypto industry.
Startups have seen the love of the British for crypto, so they are creating even more win-win crypto-businesses there. Perhaps we’ll see more ambitious investments soon!
Tesla sold 75% of its Bitcoin reserve: what does it mean for the crypto industry
Elon Musk sold 75% of the company’s assets in bitcoin, leading to a massive panic and a sharp drop in the coin’s value. People started to sell their reserves too. Does this mean the “death of bitcoin”?
Read more: Tesla sold 75% of its Bitcoin reserve: what does it mean for the crypto industry?
What do you know about AML Regulations for Cryptocurrency?
Cryptocurrency exchanges are becoming increasingly significant in the financial world. But the anonymity among these transactions poses quite a high risk for financial markets. Anonymity facilitates the movement of funds obtained by criminal means. Therefore, most cryptocurrency exchanges now apply anti-money laundering (AML) rules.
Read more: What are AML Regulations for Cryptocurrency?