# Crypto Firm

ALL From Crypto Firm

Crypto Firm Luno to Cease Operations in SG Starting June

Global crypto company Luno has announced that it will stop offering its services in Singapore from June 20, 2023, as part of a regular evaluation of its global strategy and presence. The move will not affect its operations in Malaysia. Luno will close all accounts belonging to Singaporean customers on June 20, and users will need to withdraw all their cryptocurrency or Singapore dollars from their Luno Wallet by June 19. Customers can transfer their crypto holdings to other reputable platforms or private wallets. Failure to withdraw holdings by June 19 will result in the sale of the holdings at the prevailing market price and stored as Singapore dollar, with Luno's existing instant transaction fees of 0.75% applying.

SEC Advisory Group Backs Gensler’s Crypto Efforts But Asks for Industry Guidance

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler got further reinforcement for his quest to force crypto firms to conform with existing securities laws when his agency’s Investor Advisory Committee backed him up on almost every aspect of his campaign except one: The committee requested that the SEC actually provide formal industry guidance.

Crypto Firms Hardpressed To Find U.S. Bank Partners As Industry Blames ‘Operation Choke Point 2.0’

Cryptocurrency firms are struggling to find new banking partners following the closure of three of the largest crypto-friendly banks in the U.S. Stakeholders and market watchers tell Forkast that this may be the result of a coordinated regulatory effort to unbank the industry.

Chinese Crypto Exec Quits Firm Amidst Sexual Harrasment Probe

A Chinese crypto executive has quit his firm amidst a sexual harassment probe. The executive, who was the CEO of a Chinese cryptocurrency exchange, has been accused of sexually harassing a female employee.

Sygnum Sees Increased Crypto Firm Inquiries After US Banking Giants Collapse

Zurich-based digital asset bank Sygnum is seeing an influx in inquiries from international crypto firms looking for new banking partners following the recent collapses of crypto-friendly banking giants in the United States.

Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in ‘Challenging’ 2022

Cryptocurrency conglomerate Digital Currency Group (DCG) reported a loss of $1.1 billion last year, as the firm struggled with plunging crypto prices and the restructuring of its lending platform, Genesis.

French Central Bank Governor Calls for Tougher Licencing Rules for Crypto Firms

Francois Villeroy de Galhau, the Bank of France (BoF) governor, has called for a stricter licensing regime for digital asset providers following the recent market events.