| Mobile Web

Search results for Bank Secrecy Act

Crypto

BitMEX to wind down operations after 11 years; Zhao says \'sad\'

Cryptocurrency exchange BitMEX will cease operations on Sept. 23 local time. Operator HDR Global Trading decided to permanently close the exchange after reviewing its business strategy and broader crypto market conditions. New sign-ups have been halted, and limits on new positions will begin on Aug. 26. Unclosed positions will be liquidated at shutdown. BitMEX said it is not responsible for losses from failure to close positions by deadlines.

Crypto

U.S. CLARITY Act revised draft expected this week as ethics provision stalls ahead of Senate vote

The U.S. Senate may release a merged draft of the CLARITY Act, a broad bill to regulate crypto market structure, this week. Work to combine versions prepared by the Senate Banking and Agriculture committees is nearing completion, but negotiations continue over key provisions, including ethics rules and the scope of decentralized finance regulation. A floor vote timeline remains uncertain as lawmakers debate which digital asset intermediaries should face registration, surveillance and anti-money laundering obligations.

Crypto

U.S. CFTC chair urges Congress to pass CLARITY Act

Michael Selig, a commissioner at the U.S. Commodity Futures Trading Commission, urged Congress to quickly pass the CLARITY Act, a crypto market structure bill. He warned that further delays could leave regulators setting rules agency by agency without a comprehensive federal framework. Negotiations in the Senate are in the final stage, with debates continuing over ethics provisions tied to Donald Trump’s family crypto business, DeFi regulation, illicit finance measures and developer protections, including Section 604 and the BRCA.