Coins.ph, the largest cryptocurrency exchange in the Philippines, is reportedly facing regulatory enforcement action from the country’s central bank, the Bangko Sentral ng Pilipinas. The potential disciplinary measures stem from alleged compliance and operational deficiencies discovered during routine examinations. While specific details of the infractions remain undisclosed, the scrutiny highlights tightening oversight within the region's digital asset sector. This development poses a significant challenge for Coins.ph, which serves millions of users and plays a pivotal role in the nation's burgeoning cryptocurrency and remittance ecosystem.
Crypto hardware wallet manufacturer Ledger has directed its official resellers in Southeast Asia and Hong Kong to temporarily halt all sales operations. This strategic suspension comes amid growing scrutiny and shifting regulatory landscapes within these key Asian markets. By pausing the local retail footprint, the company aims to reassess its distribution strategies and ensure full compliance with regional financial regulations. Ledger maintains that existing customer devices remain fully secure and operational despite the commercial pause. The sudden directive highlights the increasing compliance pressures facing cryptocurrency hardware providers operating across Asia.
Strive, an asset management firm co-founded by Vivek Ramaswamy, is launching a major push to expand its digital asset portfolio by raising $500 million. The capital will be secured through the issuance of a new class of preferred shares, strategically designed to attract institutional and accredited investors. This aggressive fundraising initiative underscores a growing trend among financial institutions seeking to deeply integrate major cryptocurrencies into their corporate balance sheets. By securing significant liquidity through specialized equity, Strive aims to substantially increase its existing Bitcoin holdings amidst evolving market conditions.
Bank of New York Mellon and Citadel Securities have launched a pilot that issues tokenized U.S. Treasury securities on a distributed‑ledger platform, aiming to speed up the financing chain that underpins Wall Street. The experiment, which uses digital tokens to represent Treasury bonds, seeks to cut settlement times from the traditional T+2 cycle to near‑instantaneous clearance, lowering operational costs and
In brief The FBI arrested OpenAI engineer Abdulrahman Alfozan on Oct. 9 for allegedly planting a hidden audio recorder in an executive conference room at the OpenAI’s San Francisco offices. Prosecutors say a chatbot account tied to his spouse asked…
In brief Character.AI filed for voluntary Chapter 11 bankruptcy in Delaware on October 12 to sell itself under court supervision, and says the app will be wound down if no buyer keeps it running. Disney is the opening bidder, offering…
In brief Binance will discontinue Binance Pool, Pool Savings, Cloud Mining, Transaction Accelerator and related features at 07:00 UTC on Nov. 10. Miners must point their hardware to another pool before the cutoff, and Pool Savings users must redeem their…
Digital cash offers ‘cash-like privacy,’ but bank data breaches threaten users: BIS <!–> [–> 13 hours ago Zoltan Vardai <!–> –> Source: Cointelegraph
In brief A wallet holding 4,581.94 BTC sent its full balance, worth about $377 million, to five new addresses on Oct. 12 in a single transaction that paid a fee of 732 sats. The coins arrived in March 2020, when…
Digital cash offers ‘cash-like privacy,’ but bank data breaches threaten users: BIS <!–> [–> 13 hours ago Zoltan Vardai <!–> –> Source: Cointelegraph