'Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return.' crypto cryptocurrency bitcoin
“Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said.The Arizona Corporation Commission issued an investor alert this week, warning about “digital asset financial services companies that offer interest-bearing crypto-asset accounts.”
However, due to the crypto market downturn, highlighted by the recent bankruptcy filings of Celsius Network and Voyager Digital, some companies are preventing account holders from withdrawing from and transferring between their accounts. Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return.
The regulator revealed that it is investigating whether other crypto-interest account providers are violating laws under its jurisdiction.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase Disputes SEC's Allegation That the Exchange Lists 9 Crypto Securities – Regulation Bitcoin NewsCoinbase has disputed the allegation by the U.S. SEC that nine of the crypto assets traded on its platform are securities. cryptocurrency
Read more »
Ukraine’s New Fiat Restrictions to Boost Popularity of Crypto, Industry Says – Regulation Bitcoin NewsNew hryvnia restrictions are likely to turn more Ukrainians to cryptocurrencies, according to a representative of the local crypto sector.
Read more »
Argentinian Government Excludes Crypto Investors From Buying Dollars – Regulation Bitcoin NewsThe Argentinian Central Bank has issued a resolution that excludes companies and individuals that have purchased cryptocurrencies from accessing dollars at the official rate.
Read more »
Credit Cards Should Not Be Used for Crypto Transactions, Taiwan’s Financial Watchdog Says – Regulation Bitcoin NewsThe financial regulator of Taiwan has asked banks not to allow the use of cards for payments in transactions involving cryptocurrencies.
Read more »
Huobi Becomes Latest Crypto Exchange to Receive Provisional Approval From Dubai Regulator – Exchanges Bitcoin NewsThe approval gives Huobi’s United Arab Emirates (UAE)-based entity the authority to offer 'a full suite of virtual asset exchange products and services.' virtualassets cryptoexchange
Read more »
Crypto Markets Lost $50B as Bitcoin Slumped to 6-Day Low (Market Watch)The crypto market cap is down by about $50 billion daily as bitcoin, as well as most altcoins, have turned red.
Read more »