Latest news with #cryptoassets
Bloomberg
a day ago
- Business
- Bloomberg
Memecoin Platform Pump.Fun Plans $1 Billion Raise via Token Sale
A platform dedicated to highly speculative cryptoassets is planning to raise $1 billion by selling tokens, taking advantage of the current wave of positive sentiment buoying digital-asset markets. which has been compared to the edgy 4chan social media network, allows users to quickly create, promote and sell memecoins, a type of token often associated with jokes and memes and sometimes with celebrities and US presidents.
Associated Press
2 days ago
- Business
- Associated Press
Decision Notice - CIRO Sanctions Christopher Leslie Meehan
VANCOUVER, BC, June 3, 2025 /CNW/ - On April 28, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Mutual Fund Dealer Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and Christopher Leslie Meehan. Christopher Meehan admitted to engaging in securities related business that was not carried on for the account or through the facilities of the Dealer Member by directly or indirectly entering into agreements with Investors to trade crypto assets on their behalf. Pursuant to the settlement agreement, Christopher Meehan agreed to a suspension from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer for a period of four months, a fine of $45,000 and costs of $5,000. Meehan, Christopher – Settlement Agreement The hearing panel's decision will be made available at At all material times, Christopher Meehan conducted business in the Abbotsford, British Columbia area with Assante Financial Management Ltd. (Assante). Christopher Meehan continues to be registered as an Approved Person with Assante. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322. CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms. All other Inquiries: Complaints & Inquiries Secure form Email to [email protected] Toll-free (Canada/US) 1-877-442-4322 SOURCE Canadian Investment Regulatory Organization (CIRO)
News24
3 days ago
- Business
- News24
PrimeXBT becomes an FSCA-regulated Crypto Broker in South Africa
PrimeXBT, a leading multi-asset broker, has expanded its FSCA licence to include Crypto Asset services in South Africa. With this development, PrimeXBT strengthens its position as an industry-leading global broker offering both crypto and traditional financial instruments under a regulated framework in the country. This milestone marks a meaningful step toward safer, more accessible crypto trading in South Africa and across the broader region. South African traders now have access to a unified trading environment that combines crypto and traditional markets in one place. Clients can deposit and withdraw in BTC, ETH, USDT, USDC, and USD, open fiat and crypto-denominated accounts on MT5, PXTrader, and Crypto Futures, use crypto as margin, and settle trades directly in their chosen digital asset. They can also exchange stablecoins with USD or from crypto to crypto using the built-in exchanger. In addition to crypto trading, PrimeXBT offers access to Forex, Stock, Commodity, Crypto and Index CFDs, all available through leading platforms such as MT5. Clients can choose to fund their accounts using crypto, USD, or local currency, with multiple convenient regional payment methods supported. With a secure, locally tailored setup, PrimeXBT is built to support both new and experienced traders. 'By expanding our FSCA-regulated offering to include crypto asset services, we're reinforcing our commitment to delivering an all-in-one trading experience that prioritises trust, access, and innovation,' said Sihle Tuta, Head of Region at PrimeXBT South Africa. 'Our goal is to lead the way in regulated crypto adoption across Africa, setting a new standard for what modern brokers should deliver. Financial growth starts with trust, and our mission is not just to help people trade, but to help them grow. That means offering knowledge-building opportunities, trader flexibility, and a secure infrastructure that adapts to the needs of real traders.' Alongside its expanding product offering, PrimeXBT continues to invest in regional development through educational seminars and free online learning resources. From first-time investors to professionals, PrimeXBT remains committed to helping every client trade and grow with confidence. The company also remains focused on supporting local communities as part of its corporate social responsibility (CSR) efforts across South Africa and beyond. This addition to PrimeXBT's regulated operations further strengthens its reputation as a compliant and forward-thinking broker. As demand for regulated crypto access grows, PrimeXBT remains committed to empowering traders to do more with their crypto and explore new opportunities, all within a secure, flexible and innovative trading environment. Start trading with PrimeXBT South Africa. Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. The Company does not accept clients from the Restricted Jurisdictions as indicated on its website. PrimeXBT (PTY) LTD is an authorised financial services provider in South Africa with licence number 45697. PrimeXBT (PTY) LTD acts as an intermediary between the investor and the market maker which is the counterparty to the products purchased through PrimeXBT.
Globe and Mail
6 days ago
- Business
- Globe and Mail
US Financial Firms Mull Over Crypto Expansion, Seek Regulatory Clarity
As the Donald Trump administration began its second term in January, it opened the doors for many U.S. financial firms to venture into crypto asset-related activities, given the favorable stance of the administration towards cryptocurrency. Nonetheless, despite strong endorsements from regulators, large financial firms like Bank of America BAC, Morgan Stanley MS, and Charles Schwab SCHW remain cautious regarding crypto expansion. Thus, initial steps are likely to be tentative with small pilot programs, collaborations and modest crypto trading. Recent Regulatory Developments Regarding Crypto-Based Activities Earlier this month, Paul Atkins, chair of the Securities and Exchange Commission (SEC), stated his plans to overhaul cryptocurrency policies and establish guidelines for the distribution of crypto tokens that are securities, and consider whether additional exemptions are requisite. Further, the US Office of the Comptroller of the Currency (OCC) allowed U.S. banks to manage crypto assets on behalf of their clients. The OCC confirmed that banks can buy, sell, and hold crypto in custody, alongside outsourcing certain services, such as custody and execution, to third parties. In April 2025, the Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System withdrew two joint statements that required U.S. banks to issue an advance notification concerning any crypto or stablecoin activities. In March 2025, the FDIC clarified that FDIC-supervised institutions can engage in permissible crypto-related activities without receiving prior approval. Further, Donald Trump signed an executive order to establish a strategic crypto reserve. In January 2025, the SEC rescinded an accounting rule that previously required banks to recognize a liability and corresponding asset for their obligation to safeguard crypto assets. Crypto Ventures by Financial Firms Most firms are likely to enter into custody businesses by forming alliances with existing crypto firms. If a major firm expands without any hurdles, others will likely follow in terms of running small-scale projects and considering other business prospects. Rick Wurster, CEO of Charles Schwab, told Reuters earlier this month that the signals from financial regulators were quite favorable for large firms to expand in the crypto space. Further, on the first-quarter 2025 earnings call, Wurster stated that Schwab will likely launch spot cryptocurrency trading services in the next 12 months. The company already allows its clients to trade spot Bitcoin ETFs after they started trading last year. Similarly, Morgan Stanley is also planning to build a crypto trading feature for E*Trade, with a target to launch spot trading next year. Also, Bank of America is considering launching stablecoins, as stated by CEO Brian Moynihan earlier this year, if the regulations allow. Further, the company along with a few other large banks is exploring issuing a joint stablecoin, with the discussions being in earlier stages at the moment. Why Financial Firms Remain Cautious Despite Regulatory Support? Though these regulatory endorsements are welcoming, U.S. financial firms are seeking greater clarification from the administration on what they can do in crypto and surrounding anti-money laundering (AML) rules. The firms don't want to get caught up in the rapidly evolving regulatory landscape and, therefore, are seeking well-defined guidelines before entering into the crypto space. While custody businesses to store and manage digital assets seem promising, they offer thin margins relative to higher potential risks. This makes large firms apprehensive about pursuing a large-scale expansion into the crypto custody business. The rules for traditional banking businesses are very well defined, and there is complete clarity over what a bank is allowed to do and what is outside its scope. Similar well-defined guidelines are required for digital assets as well to persuade large financial firms to expand more aggressively into the crypto domain. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Morgan Stanley (MS): Free Stock Analysis Report The Charles Schwab Corporation (SCHW): Free Stock Analysis Report
Yahoo
6 days ago
- Business
- Yahoo
ECB's Panetta warns crypto losses can harm confidence in banks
By Valentina Za ROME (Reuters) -European Central Bank policymaker and Bank of Italy Governor Fabio Panetta called on Friday for close monitoring of the reputational risks banks face in providing crypto-asset services, warning that losses could harm the trust of customers. Presenting the Bank of Italy's annual report, Panetta warned about the growing links between the world of crypto-assets and the traditional financial system, pointing to the rising number of accords between banks and digital asset providers. "Crypto-asset holders might not fully understand their nature and conflate them with traditional banking products, with potentially negative repercussions for confidence in the credit system should losses occur," Panetta said. Italy's biggest bank Intesa Sanpaolo in January carried out what CEO Carlo Messina described as "a test", by buying 1 million euros in bitcoins, the world's largest digital currency. Intesa set up a proprietary trading desk for digital assets in 2023, and last year started handling spot trades with crypto-assets. Spain's Santander is weighing a digital asset expansion, including early-stage plans to offer a stablecoin as well as access to cryptocurrencies for retail customers of its digital bank, Bloomberg reported on Thursday. Panetta said stablecoins, which are designed to maintain a stable value against underlying currencies or assets, posed a threat to traditional means of payments if large foreign-based technology platforms decided to promote their use. "In the absence of adequate regulation, their suitability as a means of payment is doubtful, to say the least," he said. The central banker warned, however, that it would be foolish to think that the spread of crypto-assets, including stablecoins, can be curbed simply by imposing restrictions. "What is needed is a response that matches the ongoing technological transformation," he said, adding that "the digital euro project stems precisely from this need." The European Central Bank is working to develop a digital currency to compete with private alternatives that risk undermining the role of central bank money. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
