enforcement

Hong Kong

2026-10-10 12:06:17

Hong Kong warns unlicensed payment platforms of enforcement action

Hong Kong’s monetary authority has warned that payment platforms operating without the required licenses could face enforcement action. The regulator said it received 16 complaints tied to suspected unlicensed stored-value payment services between January 2024 and September 2026. The update was carried by Techub News, citing Crypto.news. The notice centers on licensing compliance for payment operators in Hong Kong and signals that cases involving suspected unauthorized stored-value services have already drawn formal complaints during the period disclosed by the authority.

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American Expr

2026-10-09 16:50:20

American Express hit with $350 million penalty over alleged decade-long AML failures

American Express National Bank has agreed to pay $350 million under a consent order with the Office of the Comptroller of the Currency after regulators said the bank failed to maintain an effective Bank Secrecy Act and anti-money laundering program. The OCC said the bank processed about $13 billion in suspected trade-based money laundering activity between June 2014 and May 2025, including suspicious card charges, related repayments, and in some cases transactions through accounts tied to bank insiders. Separately, the Federal Reserve took enforcement action against American Express over similar BSA/AML deficiencies. That order bars the company from directly or indirectly retaining certain former individuals linked to the misconduct if they participated in it, were formally disciplined, and later left the firm or had their employment terminated. In an 8-K filing with the US Securities and Exchange Commission, American Express said part of the civil money penalty had already been reserved in prior periods and would not affect its full-year 2026 guidance. The company also said it does not expect the matter to affect its 2027 guidance. Protos noted the penalty is not the largest in OCC history, but is close to the $450 million order issued against TD Bank in 2024.

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NYDFS

2026-10-01 16:20:42

NYDFS and Wyoming banking regulator sign MOU to coordinate crypto oversight

The New York State Department of Financial Services and the Wyoming Division of Banking have signed a memorandum of understanding to coordinate supervision of crypto companies operating across both states. The arrangement covers licensing reviews, examinations, and possible enforcement matters. It applies both to firms already regulated in either jurisdiction and to companies seeking approval in New York and Wyoming at the same time. Under the agreement, the two regulators will share analytical findings and past examination data to streamline application reviews, align examination schedules, and support joint examinations of cross-state businesses. The MOU also creates an expedited path for firms that have been regulated in one of the two states for at least three years under an existing license or charter and have not been subject to enforcement action, with the second regulator aiming to reach a decision within six months. The deal also sets up information-sharing on supervisory reports, market trend data, investigation updates, and notices tied to possible enforcement action, while allowing the agencies to pursue joint, coordinated, or separate enforcement steps.

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Bitcoin

2026-09-08 05:58:56

Bitcoin RICO Case Takes Aim at U.S. Department of Justice Over Crypto Crime Legal Framework

A Bitcoin-related RICO lawsuit has directly challenged the U.S. Department of Justice (DOJ), filed after the agency weakened its ability to build such cases. The case, brought under the Racketeer Influenced and Corrupt Organizations Act, involves organized crime allegations within the cryptocurrency space. It may expose disputes over the DOJ's legal framework and enforcement capacity in handling crypto crimes, according to Cointelegraph.

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Texas

2026-09-04 03:11:48

Texas AG Ken Paxton Received Kalshi Donations, Then Avoided Enforcement Actions

Texas Attorney General Ken Paxton, who has long pushed for strict enforcement of gambling laws, received donations from prediction market Kalshi in 2025. His political action committee accepted $5,000 in May 2025, and Paxton personally received $7,000 from Kalshi CEO Tarek Mansour in June 2025. According to Politico, after these donations, Paxton refrained from participating in multiple legal actions initiated by other state attorneys general aimed at restricting Kalshi's operations, notably the timing of the donations and the subsequent inaction.

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SEC

2026-08-28 10:41:03

SEC sues 38 entities over fake adviser filings and bogus SEC certificates tied to crypto schemes

The U.S. Securities and Exchange Commission has brought 38 civil complaints against entities it says posed as legitimate U.S. investment advisers, including several tied to crypto offerings and promotional campaigns. In court filings and a public statement dated August 27, 2026, the SEC said the defendants used false filings, fake registration claims, and in some cases fabricated SEC certificates to attract retail investors. The regulator named crypto-related operators including CryptoOrbit, Ftaexchange, Pinnacle, Quantum, and RBH. It is asking a federal court for injunctions, civil penalties, and orders stripping the defendants of future reporting-exemption privileges for adviser filings. FINRA has already removed non-compliant forms for these advisers from adviserinfo.sec.gov at the SEC’s direction. According to the allegations, some firms made materially false statements in Form ADV and failed to file required disclosures, in conduct the SEC says violated Sections 204(a) and 207 of the Investment Advisers Act. The initial complaints do not quantify investor losses. The report also describes disconnected phone numbers, undeliverable mailing addresses, Colorado locations with no actual presence, and filing-system access linked to Hong Kong or the People’s Republic of China.

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SEC

2026-08-06 06:15:49

US SEC Creates Financial Reporting and Accounting Unit to Root Out Fraud

On August 6, the U.S. Securities and Exchange Commission (SEC) announced the creation of a new Financial Reporting and Accounting Unit within its Division of Enforcement. The unit will concentrate on financial reporting fraud and violations involving accounting and auditing practices. David Woodcock, head of the SEC's enforcement division, said the new group will enhance the SEC's capacity to pursue misconduct in the accounting and audit professions, placing a particular emphasis on financial fraud cases and related securities law violations. According to the SEC, the unit will bring together lawyers and accounting professionals, and it will coordinate with other SEC offices during investigations and enforcement proceedings. The agency also disclosed that Timothy Zimmerman will lead the unit. Zimmerman joined the SEC in May 2026; prior to that, he spent 12 years working at an international law firm, and his most recent position was deputy general counsel at an international accounting and professional services firm. The unit's creation adds a dedicated enforcement team focused on financial reporting quality and professional misconduct in accounting and auditing, as announced by the regulator.

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India

2026-07-24 10:20:15

India ED Files Prosecution in Coinbase Phishing Scam, Seizes Rs 64.55 Crore Assets

India's Enforcement Directorate filed a prosecution complaint on June 15, 2026 against Chirag Tomar for a Coinbase phishing scam that stole over $20 million. Total attached assets now stand at Rs 64.55 crore.

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