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If the document is adopted, digital assets will be regulated as commodities rather than securities

A total of about 780 people will be laid off

The New York City Department of Financial Services accused the company of violating AML and cybersecurity regulations

According to the regulator’s decree, the asset is equated with securities

Clients will be able to earn income from ETH placements through the Coinbase Prime paid extension

According to the regulator, Forsage, a cryptocurrency project, has raised more than $300 million “from millions of retail investors worldwide”

Customers will not be insured against losses in case of bankruptcy of crypto companies

According to the new proposal, the company needs to stop all credit operations, integrate real-time trading, and issue a recovery token

Mastercard, a payment company, and Salesforce, a CRM solutions developer, participated in the project

In the first quarter of 2022, the company reported net income of $65,5 million, up from $177 000 for the same period in 2021

Officials called the first cryptocurrency “an untested, highly volatile” and unregulated asset

The crypto lender’s website says that deposited customer assets are insured by the Federal Deposit Insurance Corporation