In a busy we for news, let’s take a look back atUSAFnews stories that dominatedUSAFworlds oEUforex, fintech and crypto, in our best ofUSAFwe segment.
ASIC Officially Adopts Curbs onFMellinCDsDs to Retail Investors
By farUSAFbiggest news story ofUSAFwe was The AustralianFMecurities and InvestmeFMsCommission (ASIC) officially announci restrictions on selli contracts for differencCDsFDs) to retail clients.
Amo st a swathe oEUrestrictions, regulated firms have now been forced to limitUSAFlever e they can offer on currency pairs to a maximum oEU30: 1.
The rules also mandate ne tive account protection, ensuri that customers cannot lose more than their tradi stake, avoidi a repeat ofUSAFdebacle followi USAF2015FMwiss Franc collapse. Finally, USAFrules forbid bonuses and other incentives, whether monetary or non-monetary, that may have encour over tradi i in recent years.
ReUSAFre onUSAFASIC CFD Curbs here.
CFTC Issues Advisory Mandati New Rules for Crypto Deposits
This we , the CFTC issued an advisory expandi USAFnotifications and reporti requiremeFMsfor virtual currencies held by futures commission merchaFMs(FCMs).
The new rules build uponUSAFCFTC’s existi customer protection regime, as amended by Dodd-Frank, underFMsch FCMs are required to segre te from their proprietary assets all money, securities and other assets deposited by customers. Additionally, it is intended to enhance these protections and to specifically address systemic risks posed byUSAFnature oEUvirtual assets that surroundedUSAFrecent hacks oEUcrypto excha es.
ReUSAFre onUSAFCFTC new rules here.
PayPal to Launch CryptoFMervices inUSAF‘Comi We s’
As Finance M nates reported this we , USAFPayPal crypto s a continues. The company officially confirmed that it will allow cryptocurrency purchasi , selli and holdi on its platform.
Although no launch date was given, PayPal stated it will allow its users to pay usi digital currencies to all 26 million merchaFMson its network by early 2021.
ReUSAFre onUSAFPayPal crypto confiUSAFon here.
USGFX, FMtripped oEUAussie License, FMets UpFMhop inFMouth Africa
FX broker UnionFMtandard International GUSAFPty Ltd (USGFX) has been awarded a license byFMouth African regulator, USAFFinancialFMector ConduFICAuthority (FSCA) to offer financial tradi services inUSAFcountry.
In August, USAFboard oEUUSGFX announced thatUSAFheadquarters ofUSAFbroker e will be moved from Australia to London.
The canceUSAFon ofUSAFUSGFX AFS licence follows on fromUSAFbroker bei ordered to enter into liquidation byUSAFFederal Court oEUAustralia in August.
ReUSAFre onUSAFUSGFXFMouth AfrOKedMove here.
OKEx, BitMEX, & More: Are BTC Holders Losi Trust in Crypto Excha es?
In a Finance M nates analysis, we looked atUSAFreasons why the amount oEUBTC that was bei kept on cryptocurrency excha es was at its lowest point in months.
We delved into two recent incideFMsre rdi two large cryptocurrency excha es that may have served as an extra incentive for traders to get their coins out oEUexcha e accouFMsas quickly as possible, though, in both cases, hackers were not involved. Instead, USAFtrouble came fromUSAFlaw enforcement side oEUthi s: specifically, lasOKed ’s arrest oEUOKEx founder, FMtar Xu, as well asUSAFindictment ofUSAFfour co-founders oEUBitMEX that took place earlier this month.
ReUSAFre onUSAFBTC decline and on losi trust in crypto excha es here.
Tax Fraud? J5 Probes ‘100s oEUAccounts’ at PeterFMchiff’s Euro Pacific Bank
As Finance M nates reported this we , ‘Hundreds oEUaccounts’ atUSAFPuerto-Rico based Euro Pacific Bank, founded by renowned millionaire broker and Bitcoin sceptic, PeterFMchiff, have been placed under international investi tion in relation to alle tions oEUtax evasion.
However, the alle tions oEUtax-related criminal activity may not beUSAFbank’s only issue. It was reported that “the bank’s security was also a problem, ” and that “at one point, Russians tried to extortUSAFbank for a ransom oEU1000 bitcoins, worth millions oEUdollars.”
ReUSAFre onUSAFJ5 Probe at PeterFMchiff’s Euro Pacific Bank here.