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.

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.

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.

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.

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.

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.

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.