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REUTERS/Dado Ruvic/IllustrationLONDON, Feb 13 (Reuters) - New York's chief financial regulator has ordered Paxos, the company behind the stablecoin of major crypto exchange Binance, to stop issuing the token, Paxos said in a statement on Monday. The Binance USD (BUSD) stablecoin, one of the world's biggest, is issued and redeemed by New York-based Paxos Trust Company, both of which are regulated by the New York Department of Financial Services. Paxos said it would stop issuing new BUSD as of Feb. 21 "as directed by and working in close coordination with the New York Department of Financial Services". Binance USD is the seventh-largest cryptocurrency, with more than $16 billion in circulation, according to market tracker CoinGecko. Zhao said Binance would "continue to support BUSD for the foreseeable future" and that he saw users "migrating to other stablecoins over time."

☆ Paxos ordered to cease minting Binance stablecoin by New York regulator
▼ + stars: | 2023-02-13 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

Cryptocurrency firm Paxos will cease issuing new Binance USD, or BUSD , stablecoins under the direction of New York state's financial regulator, Binance founder Changpeng Zhao said Monday. "We were informed by Paxos they have been directed to cease minting new BUSD by the New York Department of Financial Services," Zhao said on Twitter. Paxos' BUSD product is related to, but separate from, Binance's self-issued Binance-pegged BUSD. "The Department has not authorized Binance-Peg BUSD on any blockchain, and Binance-Peg BUSD is not issued by Paxos," NYDFS said. Last week, the Securities and Exchange Commission settled with crypto exchange Kraken over allegations of unregistered offering and sale, in connection with Kraken's crypto staking platform.

☆ Deutsche Bank Names New Compliance Chief as Part of Reshuffle
▼ + stars: | 2023-01-19 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Laura Padovani will join Deutsche Bank on April 1 as its group chief compliance officer and head of compliance, according to a memo seen by The Wall Street Journal. Ms. Padovani spent seven years at Barclays, most recently as its compliance chief, and 20 years at American Express. Mr. Tagné, who has spent more than six years at Deutsche Bank, will also take on the role of deputy chief compliance officer, according to the memo. Germany’s top financial watchdog, BaFin, in November threatened to fine Deutsche Bank if it didn’t implement controls against money laundering by mid-2023. Deutsche Bank was fined $150 million in 2020 by the New York Department of Financial Services for failing to properly monitor its dealings with Epstein.

☆ Coinbase Layoff Ax Won’t Fall on Compliance Team
▼ + stars: | 2023-01-12 | by ( Richard Vanderford | ) www.wsj.com time to read: +2 min

Wide-scale layoffs at Coinbase Global Inc. won’t significantly impact its compliance team, as the cryptocurrency exchange remains under a New York regulator’s watch after recently settling allegations it violated anti-money-laundering laws. Coinbase wants to cut operating expenses by 25% and plans to lay off about 950 people, Chief Executive Brian Armstrong said Tuesday. A spokeswoman for the company, asked whether the departures would impact the exchange’s risk, compliance or legal teams, said there won’t be “meaningful” layoffs in key roles. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. The exchange in the settlement agreed to spend another $50 million to improve its compliance program over the next two years.

☆ Stocks making the biggest moves premarket: Silvergate Capital, Walgreens, Amazon and more
▼ + stars: | 2023-01-05 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

People walk by a Walgreens, owned by the Walgreens Boots Alliance, Inc., in New York City, November 26, 2021. Check out the companies making headlines and moves in premarket trading. Walgreens Boots Alliance — The drugstore stock fell about 2% in premarket even after the company reported fiscal first quarter earnings that beat analyst estimates. Western Digital — Shares jumped more than 5% after Western Digital and Japan's Kioxia Holdings resumed merger talks, according to a Bloomberg News report that cited sources familiar with the matter. American Express — The stock fell 1.48% in the premarket after being downgraded by Stephens on Thursday to underweight from equal weight.

Popular cryptocurrency exchange Coinbase announced an agreement Wednesday to pay $50 million to resolve a New York investigation into lapses concerning its anti-money laundering and know-your-customer practices. "That failure exposed the Coinbase platform to potential criminal activity requiring the Department to take immediate action including the installation of an Independent Monitor,” she said. In one instance, a former Coinbase customer who had been criminally charged with crimes related to child sexual abuse material conducted suspicious transactions potentially associated with illicit activity on the exchange. (Eventually, Coinbase discovered the activity and with the help of law enforcement recovered the funds.) In a statement on its website, Coinbase acknowledged the $100 million settlement and outlined other steps it was taking to address the lapses.

☆ Coinbase reaches $100 million settlement with New York regulators
▼ + stars: | 2023-01-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —Coinbase, one of the most popular US crypto-trading platforms, agreed to a $100 million settlement after New York regulators found “significant failures” to comply with the state’s anti-money-laundering laws. The settlement includes a $50 million penalty Coinbase must pay to the New York Department of Financial Services and a pledge to spend $50 million to strengthen the company’t compliance program over the next two years. The regulator said it had installed an independent monitor to investigate, and that monitor will remain in place for at least another year as needed. Coinbase’s statement included reference to the so-called crypto winter — a chill that hit the industry in 2022, bringing down several companies, including Sam Bankman-Fried’s FTX. “We recognize that the crypto industry is at an inflection point right now and that every public move by a crypto company will receive intense scrutiny,” Grewal said.

☆ Coinbase settles with New York state financial regulator for $100 million, stock spikes
▼ + stars: | 2023-01-04 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

Coinbase signage in New York's Times Square during the company's initial public offering on the Nasdaq on April 14, 2021. Coinbase settled a case with New York's state financial regulator, the parties announced Wednesday, and will pay a $50 million fine and invest a further $50 million in compliance efforts. Regulators from the New York Department of Financial Services said the company had longstanding failures in its anti-money laundering program. "This agreement includes a $50 million penalty and a separate commitment from Coinbase to invest $50 million in our compliance program over two years," Coinbase Chief Legal Officer Paul Grewal said in a statement. Regulators wrote that Coinbase's compliance shortcomings led to "suspicious or unlawful conduct being facilitated through Coinbase's platform," according to the consent order.

☆ Coinbase is paying a $50 million fine over allegations it fell behind on a mountain of internal warnings
▼ + stars: | 2023-01-04 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Coinbase is paying a $50 million fine after a New York agency found fault with its crypto platform. It will also invest $50 million into improving its own vetting of customers and transactions. Coinbase said it has taken "substantial measures" to improve its monitoring tech and protocols. The settlement, which the New York Department of Financial Services disclosed on Wednesday, includes a $50 million fine, and also calls for Coinbase to spend another $50 million on a monitoring plan overseen by the agency. Coinbase, a crypto exchange founded in 2012, has more than 100 million users on its platform.

☆ Stocks making the biggest moves midday: Wynn Resorts, Microsoft, Honeywell, Salesforce and more
▼ + stars: | 2023-01-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

The Wynn Resorts logo stands illuminated as people sit by the fountain at the Wynn Macau casino resort in Macau, China, on Tuesday, July 24, 2018. Check out the companies making the biggest moves midday:Wynn Resorts — The casino operator's stock jumped nearly 7%, building on its solid start to 2023. Salesforce — Shares of the cloud-based software company jumped more than 3% after Salesforce announced that it is cutting 10% of its personnel and reducing some office space as part of a restructuring plan. Celanese — The global chemical and specialty materials company jumped more than 6% after being upgraded by RBC Capital Markets to outperform from sector perform. The firm cited the solar company stock's "steep drop from the initial euphoria created by the Inflation Reduction Act."

☆ New York Financial Regulator Issues Crypto Guidance for Banks
▼ + stars: | 2022-12-15 | by ( Mengqi Sun | ) www.wsj.com time to read: +4 min

New York’s financial regulator said banks looking to enter the cryptocurrency space need to first seek approval from the regulator. U.S. banks and foreign banks with branches in New York that are under NYDFS supervision should notify the agency at least 90 days before starting any new or significantly different crypto-related activities, according to the guidance. NYDFS is one of the first state financial regulators to issue such guidance for banks. PREVIEWNYDFS Superintendent Adrienne Harris said the guidance is needed as the traditional financial institutions continue to innovate and as the crypto market evolves over time. New York’s financial regulator, which oversees insurance companies and state-chartered banks, already plays an outsize role nationally in overseeing the financial services sector.

☆ A new NY law lets sexual assault survivors file new lawsuits, even if the statute of limitations has expired
▼ + stars: | 2022-11-24 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

A new New York law lets survivors of sexual assault file new lawsuits regardless of how far in the past the abuse occurred. The Adult Survivors Act went into effect on Thursday, giving survivors a one-year window to file civil suits. The Adult Survivors Act, which New York Governor Kathy Hochul signed into law in May, went into effect on Thursday. "Dearest friends, tonight, a few minutes after midnight, we filed the rape suit against the former president," Carroll said in a statement. The New York Department of Corrections and Community Supervision previously told Insider that it has "zero tolerance for sexual abuse, sexual harassment, and unauthorized relationships."

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended customer redemptions on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. After a flurry of tweets and interviews by Bankman-Fried, FTX said he "has no ongoing role" at the company and does not speak on its behalf. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning, Bloomberg reported on Tuesday. Elsewhere, crypto exchange Binance said it had not contributed to FTX's collapse, in a response to a hearing on the crypto industry by a British parliamentary committee.

Nov 16 (Reuters) - Crypto lender Genesis Global Capital suspended redemptions on Wednesday citing the failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action, as its sudden collapse ripples across the industry. LEGAL ACTIONMeanwhile, U.S. court filings showed Bankman-Fried is facing legal action in the United States from investors alleging the company's yield-bearing crypto accounts violated Florida law. Bloomberg on Tuesday also reported that U.S. and Bahamian authorities were discussing the possibility of bringing Bankman-Fried to the United States for questioning. Elsewhere, crypto exchange Binance, in a response to a hearing on the crypto industry by a British parliamentary committee on Monday, said it had not contributed to FTX's collapse. The U.S. House Financial Services Committee said Wednesday it plans to hold a hearing in December to investigate the collapse of cryptocurrency exchange FTX.

☆ Facial recognition used in arrest of 9/11 conspiracy theory lawyer accused of trying to disarm officer on Jan. 6
▼ + stars: | 2022-10-21 | by ( Ryan J. Reilly | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Jonathan_Dienst_Byline.Jpg | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The FBI on Thursday arrested a New York lawyer who is accused of trying to disarm an officer protecting the U.S. Capitol during the Jan. 6 riot, law enforcement sources told NBC News. Authorities say O'Kelly tried to "disarm" a D.C. Metropolitan Police Department officer on Jan. 6 by grabbing an officer's baton and "attempting to wrestle it from the officer’s hands." U.S. Attorney’s Office for the District of ColumbiaO’Kelly, known to online sleuths investigating the Jan. 6 attack as “MidWhiteCrisis,” was No. A judge dismissed the lawsuit in March 2021, and an appeals court upheld the lower court ruling in August 2022. More than 870 people have been arrested by the FBI in connection with the Jan. 6 attack.

☆ Donald Trump has incorporated 'Trump Organization II' in apparent dodge of NY fraud case, officials say
▼ + stars: | 2022-10-13 | by ( Laura Italiano | ) www.businessinsider.com time to read: +2 min

Donald Trump has formed 'Trump Organization II' in what NY officials call a move to protect assets. The new company was incorporated on the same day NY's AG sued the Trump Organization for fraud. The AG, Letitia James, is asking a judge to bar Trump from moving assets to the new entity. The court papers ask the judge, New York Supreme Court Justice Arthur Engoron, to immediately appoint an independent monitor to oversee the Trump Organization. The court papers also ask Engoron to allow the attorney general's office to electronically serve Trump with a copy of the lawsuit.

☆ Nearly half of bald and golden eagles in the US have chronic lead poisoning, most likely from bullet fragments
▼ + stars: | 2022-02-17 | by ( Aria Bendix | ) www.businessinsider.com time to read: +5 min

Nearly half of bald and golden eagles in the US have chronic lead poisoning, a study found. Of that sample, 47% of bald eagles and 46% of golden eagles had signs of chronic lead poisoning. The researchers estimated that lead poisoning slowed the annual population growth of bald eagles by 4% and golden eagles by 1%. Neither golden eagles nor bald eagles are endangered species. Up to 33% of bald eagles and up to 35% of golden eagles in the study showed signs of acute lead poisoning.

Persons: —, Todd Katzner, Mike McTee What's, Katzner, hadn't, Vince Slabe, Slabe Organizations: Eagles, Service, Geological Survey, Raptor Center, University of Minnesota, Conservation Science, California Department of Fish, New York Department of Environmental, Alaska Department of Health and Social Services Locations: Alaska, Florida, Maine, California, New York Department of Environmental Conservation

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