Author: John Smith
Canada’s financial watchdog has levied its largest-ever penalty against a crypto firm. Vancouver’s Cryptomus faces a $126 million fine for failing to report more than 1,000 suspicious transactions linked to darknet markets and terrorist financing in a single month. Summary FINTRAC fined Vancouver-based Cryptomus $126 million, Canada’s largest crypto penalty to date. Regulators cited over 1,000 unreported suspicious transactions and more than 7,500 transfers linked to Iran. In a statement the Financial Transactions and Reports Analysis Centre of Canada announced it had levied an administrative monetary penalty of C$176.96 million (about $126 million) against Xeltox Enterprises Ltd., the Vancouver-based entity…
BTC price continues to consolidate within a defined trading range between $98K and $127K, with the price action testing key support as the market seeks equilibrium. Summary Bitcoin trades within a range between $98K support and $127K resistance. Rejection from range high confirms extended consolidation. Market aligns with Novogratz’s projection of BTC staying range-bound into year-end. Bitcoin’s (BTC) price action remains firmly range-bound as the asset trades around the $98,000 support level, marking a continuation of its consolidation phase. Recent rejections at the upper boundary of the range have confirmed that the market is yet to find directional momentum. The…
The Federal Reserve is discussing a proposal to give fintechs and crypto platforms direct access to payment rails, ending their reliance on banks. Summary Federal Reserve’s new proposal could end crypto’s reliance on partner banks The skinny master account would enable direct access to Fed’s payment rails These accounts would still offer no interest or emergency borrowing The U.S. Federal Reserve may soon roll out a system that fundamentally changes how crypto firms interact with TradFi. During the Fed’s Payments Innovation conference on Tuesday, Oct. 21, Governor Christopher Waller outlined a proposal to enable fintechs and crypto platforms to tap…