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Crypto Exchange Regulation Check

AI cannot bear liability for losing trades, responsibility follows delegation: Brickken CEO

AI agents have started executing trades and moving funds without constant human approval, prompting Brickken CEO Edwin Mata to argue that liability must follow the authority granted to the software rather than attach to the AI itself.　　Sandmark reported on Aug. 6 that existing laws provide no single answer for losses caused by autonomous financial agents, leaving courts to examine the user, developer, platform, and institution involved in each transaction.　　The report said contract law, negligence rules, product liability, and fiduciary duties could all apply, depending on who controlled the agent and what caused the loss. A user may bear the result of an authorized trade, while a developer or platform could face claims if faulty design, weak safeguards, or corrupted information pushed the agent outside its intended role.　　Commenting on the issue, Edwin Mata, a lawyer and the CEO and co-founder of tokenization platform Brickken, told crypto.news that responsibility should never be assigned directly to the software.　　“Under current law, AI is not a legal person capable of assuming duties or bearing liability. It is a technical system acting on behalf of a natural or legal person.”　　According to Mata, an investigation should instead establish who authorized the agent, whose interests it represented, and

08-14Industry

Binance to block transactions with HTX, 10 other exchanges under EU Russia sanctions

Quick TakeBinance said it will no longer process transactions from 16 exchanges, including five that were already blocked, citing regulatory compliance needs.The move follows EU sanctions on HTX and the other listed firms for allegedly helping Russia circumvent restrictions tied to the Ukraine invasion.　　Binance said it will no longer process transactions involving a group of crypto-asset service providers and exchanges, citing compliance concerns, according to an announcement on Friday.　　While most of the named entities are low-volume and little-known platforms, HTX (formerly Huobi), a significant global centralized exchange, was also on the list.　　“Binance is required to adhere to the regulatory requirements in the jurisdictions in which it operates,” Binance wrote. “These measures are necessary to meet those requirements and to help maintain a safe and secure environment for our users and their assets.”　　Restrictions on Shelbit and Aban Tether Exchange took effect August 7, while A7 Nigeria, A7 Africa and PilotFinance Ltd. were cut off as of August 13.　　Beginning August 23, the list expands to include Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode/Exnode Pay, HTX (Huobi Global SA) and EXMO Ltd.　　The move follows the EUs sanctioning of HTX in July for allegedly helping Russia circumvent sanctions, in part by

08-14Industry

Digital money needs interoperable settlement rails, Lynq CEO says

Lynq CEO Jerald David has said institutional finance needs interoperable settlement systems capable of moving cash and collateral 24/7 as firms adopt several forms of digital money.　　SummaryInstitutions are likely to use stablecoins, tokenized deposits, CBDCs, and traditional bank money.Separate payment systems can leave capital unavailable where institutions need it.The Bank of England is testing stablecoins and simulated digital pounds in one payment flow.David said settlement infrastructure must keep pace with markets that trade around the clock.　　In comments shared with crypto.news, David said the Bank of Englands latest digital pound experiment gives an early indication of how institutional markets may use several forms of digital money instead of choosing one option.　　“I do not expect a single form of digital money to replace all others,” David said.　　“Stablecoins, tokenized deposits, tokenized money market funds, potentially CBDCs, and traditional bank money are all likely to have different roles depending on the counterparty, jurisdiction, and type of transaction.”　　His comments follow an Aug. 12 report detailing how NOBO Finance, Dun & Bradstreet, and Polygon Labs joined Phase 2 of the Bank of Englands Digital Pound Lab. The consortium is testing whether a stablecoin and simulated digital pounds can handle separate parts of the same cross-border trade-finance

08-14Industry

Ethena treasury company StablecoinX shares jump 12% after revealing 20% stake in ENA supply

Quick TakeStablecoinX reported a $34.2 million Q2 net loss, mostly driven by a $36.2 million digital asset impairment.Its ENA stash is worth over $250 million at current prices.　　StablecoinX (USDE) shares jumped more than 12% in early trading Friday after the newly public Ethena-focused treasury company reported its first quarterly results, revealing it held roughly 20% of the total ENA supply.　　StablecoinX (USDE) stock price chart. Source: Google Finance　　The company holds approximately 3 billion ENA valued at more than $250 million at current prices. StablecoinX said the position was worth around $9.09 per share based on its 24 million Class A shares outstanding at quarter-end.　　StablecoinX reported a $34.2 million net loss for the quarter, though nearly all of it was driven by unrealized losses on its ENA holdings.　　The companys operating business is still in its early stages, generating just $62,372 in infrastructure services revenue during the final two weeks of June. Its decentralized verifier node has surpassed $3 billion in cumulative cross-chain volume, according to the release.　　“Our first quarter end as a public company reflects the successful close of our business combination and our emergence as one of the first publicly traded companies providing public market investors and financial institutions with exposure

08-14Industry

Fake LinkedIn Crypto Job Scams Have Cost $11.8M: Singapore

In briefSingapores police force and cyber security agency put losses from a scam using fake job offers and compromised software systems at $11.8 million.They describe a case in which a victim was approached by a bogus recruiter for a crypto firm and steered into a coding assessment run on a company laptop.The malware harvested a session token, which was used to bypass multi-factor authentication and open the victims Bitbucket account.　　Scammers posing as recruiters for cryptocurrency companies have taken $11.8 million (S$15.1 million), using fake job offers to compromise their targets employers, according to a joint advisory from the Singapore Police Force and the Cyber Security Agency of Singapore.　　Setting out how the scam works in a statement on Friday, reported by The Straits Times and Channel NewsAsia, the agencies said a victim was approached on LinkedIn by someone posing as a recruiter for a crypto company, then moved to email, where the sender used a spoofed domain closely resembling a real firms. Several interviews followed on Google Meet. The interviewer kept their camera off throughout.　　The victim was then sent to a spoofed website to complete a technical coding assessment, and did so on a company-issued device, downloading malicious software in the

08-14Industry

Hyperscale Data sells 685 BTC, redirects $43M toward Michigan data center

Hyperscale Data has sold about 685 Bitcoin for approximately $43 million, cutting its holdings to around 275 BTC as it directs more capital toward its Michigan data center.　　Hyperscale Data said Friday that most of the proceeds will be used for the continued development and expansion of the Michigan facility, while part of the cash will give it more room to manage debt, equity and its overall capital structure.　　The transaction leaves the NYSE American-listed company with roughly 275 BTC on its balance sheet. Management described the sale as an allocation of capital at its current stage of development and said Bitcoin remains part of its long-term strategy.　　Executive Chairman Milton “Todd” Ault III said the company plans to continue mining Bitcoin and expects to use future mining production and available capital to rebuild its holdings over time.　　“Bitcoin has been an important part of Hyperscale Datas strategy and we expect it to remain an important part of our strategy going forward,” Ault said. “We intend to continue mining Bitcoin and, over time, expect to use mining production and available capital to rebuild and increase our Bitcoin position.”　　At the current stage of the Michigan project, however, Ault said management believes part of the Bitcoin

08-14Industry

Binance to stop HTX transactions from Aug. 23 over sanctions

Binance has said it will stop processing transactions involving HTX and 10 other listed crypto platforms from Aug. 23 as new sanctions and regulatory restrictions take effect.　　Binance said in a Friday announcement that the restrictions will apply to Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, HTX, formerly Huobi, and EXMO. The exchange cited recent regulatory developments for the decision.　　Transactions involving any of the affected providers could be held for compliance checks once their respective restrictions take effect. Binance said wallets may also face restrictions while reviews remain in progress.　　Users were advised against sending assets directly or indirectly to the listed providers after the cutoff dates, since transactions involving them could trigger further compliance action under Binances terms.　　Binance restrictions will cover 11 platforms from Aug. 23　　The Aug. 23 cutoff covers a group of exchanges and crypto service providers that have recently faced sanctions-related restrictions in Europe, including HTX, EXMO, Rapira, BitPapa and Aifory.　　Several of the names overlap with the European Unions latest sanctions measures against Russia. The bloc adopted its 21st sanctions package on July 23, expanding transaction restrictions against financial institutions and crypto services that officials accused of helping Russia bypass existing sanctions.　　As crypto.news previously

08-14Industry

Solanas fee overhaul increases burn and makes resource hogs pay

Solana is preparing to change how it charges for computing resources on the network.　　Solana Improvement Document (SIMD-0553) would make its most resource-intensive users pay more while cutting the costs for simpler transactions. As a bonus, it would increase SOLs burn rate in stages — and one day could even help make it deflationary.　　Cavey, a researcher at Solana infrastructure firm Temporal and author of the proposal, tells Magazine that fees currently dont reflect the real costs:　　“If I submit a transaction that does nothing versus a transaction that burns 200 million CPU cycles, Im charged the same amount.”　　This proposal would change that by tying fees more closely to the resources each transaction requests. Rather than going to validators, the resource fee would be burned, removing SOL from circulation.　　Of course, reducing validator income has not been welcomed by all. Contributor bji argues on github:　　“I like the aspect of this proposal that gives tx submitters extra incentive to be accurate with CU limits. Everything else I‘m meh to negative on. ’More burn should not be a goal. Validator incomes should not be arbitrarily reduced.”　　SIMD-0553 entered Solanas new onchain governance process in early August and cleared its initial support phase on August 4.　　It is currently

08-14Industry

Strategy says MSCI should measure markets, not dictate corporate assets

SummaryStrategy criticized MSCI‘s proposed “non-operating company” rules, which could exclude it from the index provider’s global equity indexes.The company said the new proposal repeats the problems of MSCIs earlier digital asset-specific plan and unfairly penalizes companies for holding bitcoin.　　Strategy (MSTR) has pushed back against MSCI‘s proposed methodology for identifying “non-operating companies,” which could result in the largest bitcoin treasury company being removed from the index provider’s global equity indexes.　　Strategy said on X, “Digital assets are assets. Index providers should measure markets, not decide which assets companies are allowed to own,” Strategy said. “MSCI‘s proposal puts it out of step with regulators, markets, and its own customers. Bitcoin doesn’t need MSCI. Neither does Strategy.”　　The replaces an earlier proposal focused specifically on companies with significant digital asset holdings. Applying the new financial-ratio screen using May 2026 data would have resulted in the removal of Strategy, Metaplanet and uranium holder Yellow Cake from the MSCI ACWI IMI.　　The response follows Strategy‘s formal objection in December 2025 to MSCI’s previous proposal, which would have excluded companies whose digital assets represented at least 50% of total assets.　　Strategy argued at the time that it is an operating company, not an investment fund or passive bitcoin vehicle, pointing

08-14Industry

Israels largest bank to offer crypto trading with Galaxy

SummaryBank Leumi customers will be able to buy, hold and sell bitcoin, ether and solana through the Leumi Trade app.Galaxy will provide the trading and custody infrastructure, with the service expected to launch in early 2027.The planned launch would make Bank Leumi the first bank in Israel to offer digital asset trading directly to its customers.　　Bank Leumi, Israels largest bank, will offer cryptocurrency trading to customers from early 2027 becoming the first Israeli bank to announce such a service.　　Customers of Leumi and its mobile banking unit, Pepper, will be able to buy, hold and sell bitcoin , ether and solana (SOL) through a section of the Leumi Trade app, according to a Friday announcement.　　Galaxy Digital (GLXY) will provide trading and services through GalaxyOne Institutional, its platform for banks and asset managers. Leumi has also signed an agreement to use Galaxys custody infrastructure, formerly known as GK8, to support the offering.　　The tie-up gives Galaxy a banking partner in Israel and places Leumi among a growing group of financial institutions bringing crypto access inside customer platforms. By embedding trading within its capital-markets app, the bank is betting that clients will favor a regulated banking interface over standalone crypto exchanges.　　Maya Ravia, Leumi‘s head

08-14Industry
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