Private Investigations
It’s a crypto clampdown. Authorities are on the regulatory warpath, as New York’s Department of Financial Services ordered mega-exchange Binance to cease the issuance of its affiliated stablecoin BUSD, the world’s third largest purportedly dollar-linked ducat. That follows the Securities and Exchange Commission’s crackdown on Kraken, fining the exchange $30 million for offering crypto staking products to U.S. investors, as those transactions constituted a sale of unregistered securities in the eyes of the agency. Kraken will likewise discontinue that program under the terms of the settlement.