16 banks sued for currency market rigging
NEW YORK (Reuters) - A group of large institutional investors including BlackRock Inc and Allianz SE’s Pacific Investment Management Co has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.
Japan grants cryptocurrency industry self-regulatory status
TOKYO (Reuters) - Japan’s Financial Services Agency (FSA) on Wednesday gave the cryptocurrency industry self-regulatory status, permitting the Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations. The government has been reviewing its approach toward an industry that has been hit twice by large-scale thefts. The FSA approval gives the industry association rights to set rules to safeguard customer assets, prevent money laundering, and give operational guidelines. The association will also have to police compliance.
Coinbase acquires cryptocurrency trading platform Paradex
NEW YORK, May 23 (Reuters) - Cryptocurrency exchange Coinbase has acquired Paradex, a platform that enables users to trade virtual coins directly with each other, the San Francisco-based company said on Wednesday.
JPMorgan sued over fees for cryptocurrency purchases
NEW YORK (Reuters) - JPMorgan Chase & Co has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances.
Digital currency sales face rocky path with more regulatory focus
NEW YORK (Reuters) - A global regulatory crackdown on cryptocurrencies created by startups to finance new projects could slow the pace of virtual currency sales as questions mount about their transparency and the risk of scams for investors.
ING says cryptocurrency exchange Bitfinex has an account with it
AMSTERDAM (Reuters) - Dutch financial services company ING (INGA.AS) on Tuesday confirmed that Bitfinex, one of the largest exchanges for trading in cryptocurrencies such as Bitcoin, has a bank account with it in the Netherlands.
India's City Union Bank CEO says suffered cyber hack via SWIFT system
MUMBAI (Reuters) - India’s City Union Bank (CTBK.NS) said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial platform.
Saudi Arabia's central bank signs blockchain deal with Ripple
DUBAI (Reuters) - Saudi Arabia’s central bank has signed a deal with U.S.-based Ripple to help banks in the kingdom settle payments using blockchain software, as Gulf regulators begin to explore new forms of financial technology.
Bitcoin bounces back from three-month low in volatile trade
NEW YORK (Reuters) - Bitcoin rallied from three-month lows below $6,000 in choppy trading on Tuesday, but worries lingered about a global regulatory clampdown and moves by banks to ban buying bitcoin with credit cards.