Today in Crypto: UK Goes After Unregistered Crypto ATM Operators, S. Korea Watching the Ripple-SEC Battle, Silvergate Execs Investigated by Law Firm, Bitget to Collaborate on CBDCs

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated: 

June 25, 2023

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Regulation news

• The UK Financial Conduct Authority (FCA) said it gathered evidence related to unregistered crypto ATM operators from several sites around Leeds as part of a joint operation with West Yorkshire Police’s Digital Intelligence and Investigation Unit. According to the press release, the FCA is working with multiple law enforcement partners, including local police forces, to disrupt and disable illegal Crypto ATMs. It will review evidence gathered during these visits and consider further potential enforcement action.
• South Korean financial regulator, the Financial Supervisory Service (FSS), is closely monitoring the US Securities and Exchange (SEC) lawsuit against Ripple. Per News1 Korea, the regulator previously announced that it would “revise regulations and formats so that token securities can be issued and distributed in accordance with relevant guidelines, and hold a briefing session for the industry.”

Legal news

• Scott+Scott Attorneys at Law LLP, an international securities and consumer rights litigation firm, is investigating “certain directors and officers” of crypto-friendly bank Silvergate for breaching their fiduciary duties to Silvergate and its shareholders, said a press release. “Scott+Scott is investigating whether members of Silvergate’s board of directors made, or caused Silvergate to make, false and/or misleading statements, as well as failed to disclose material adverse facts about Silvergate’s business, operations, prospects, and financial health,” it stated.
• A Delaware, USA, bankruptcy court judge reportedly signed an order on Monday approving the dismissal of collapsed exchange FTX’s Turkish entities from the US bankruptcy proceedings.

CBDC news

• Crypto exchange Bitget announced its collaboration with fintech company Capitual on central bank digital currency (CBDC) projects in Brazil and Argentina. “The partnership had conversations with the Argentinian Government and Central Bank authorities, around collaborations in the areas of CBDC, aligning a common strategy in the Mercosur region,” said a press release.

Investment news

• Taurus, a digital asset infrastructure provider for financial institutions in Europe, announced a USD 65 million Series B round led by Credit Suisse with participation from new institutional investors such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, as well as from Series A investors Arab Bank Switzerland and Investis. The transaction was approved by the Swiss regulator, FINMA. The funds will be used to support Taurus’ growth strategy, the company said.
• Interactive Brokers, an automated global electronic broker, announced its launch of cryptocurrency trading in Hong Kong, enabling Professional Investor clients of Interactive Brokers Hong Kong to trade bitcoin (BTC) and ethereum (ETH). According to a press release, eligible clients, including individuals with over HK$8m (US$1m) in investable assets or institutions with assets greater than HK$40m (US$5.1m) who are residents of Hong Kong, can now trade cryptocurrency alongside other asset classes available on the Interactive Brokers platform.
• Monad Labs, the team supporting the Monad blockchain, announced the closing of a $19 million seed funding round led by Dragonfly Capital, with participation from 70 investors, including Placeholder Capital, Lemniscap, Shima Capital, Finality Capital, and angel investors. “Through this investment, Monad Labs will be able to further its commitment to building the next level of Layer1 smart contract platforms with Monad,” it said.

NFT news

• Web3 infrastructure company MoonPay and cross-chain non-fungible token (NFT) platform Magic Eden have entered into a strategic partnership that “will boost access to NFTs and digital assets globally,” said a press release. This integration, it added, will enable users to easily purchase NFTs with a few clicks using payment rails that are familiar to them, it added. Magic Eden’s cross-chain marketplace houses over 16,000 NFT collections and has processed over $2.6 billion in trades since it launched in September 2021.

Web3 news

• BNB Chain announced that it launched Zero2Hero, a six-month builder series that will welcome developers from all over the world to build the solutions and tools needed for mass Web3 adoption. Per the announcement, the virtual series will facilitate a six-week bootcamp, four-week hackathon, and six-week incubator for developers of all levels, giving them the chance to build on BNB Chain and showcase their abilities. Applications will open from February 13 on the BNB Chain website, it said.