Latest news with #CASP
Coin Geek
30-06-2025
- Business
- Coin Geek
Kraken secures MiCA license in Ireland
Homepage > News > Business > Kraken secures MiCA license in Ireland Getting your Trinity Audio player ready... Kraken has joined the growing list of digital asset companies to obtain a license to operate in the European Union under the bloc's Markets in Crypto Assets (MiCA) regulation, providing the company with access to 30 countries in the European market. In a blog post, Kraken, one of the largest digital asset exchanges in the world by trading volume, announced that it had obtained a MiCA license from Ireland, allowing the exchange to operate across all 30 countries in the European Economic Area (EEA), which includes the 27 EU member states plus Iceland, Liechtenstein, and Norway. The full MiCA provisions for crypto asset service providers (CASPs), such as exchanges like Kraken, came into force at the beginning of January. This included a mandate that CASPs must obtain a license from a national competent authority (NCA)—an EU member state's relevant regulator—in order to offer digital asset services within the EEA. Kraken already maintains Virtual Asset Service Provider (VASP) registrations in a number of EU countries, including France, Belgium, Spain, and the Netherlands, but this comes with limited scope, and such registration is generally primarily focused on anti-money laundering and terrorist financing. A MiCA license from Ireland, on the other hand, means the company can now legally operate across the whole of the EEA and must comply with the MiCA obligations—including investor protection, market integrity, prudential requirements, and disclosure—to be enforced by the authorizing NCA. 'Securing a license from the Central Bank of Ireland, with its long heritage and experience as a rigorous financial regulator, isn't just about compliance. It's a powerful signal of Kraken's commitment to expanding the crypto ecosystem through responsible innovation,' said Arjun Sethi, co-CEO of Kraken. 'Being the first major global crypto platform to receive authorization from the CBI affirms Kraken's commitment to building for the long term. We believe trust is the most valuable currency in crypto, and it's something you earn.' He added that the license places the company 'in a strong position to expand our product offering, grow our institutional and retail client base and deliver secure, accessible and fully regulated crypto services to millions more people across the EU.' Kraken's announcement comes a week after Reuters reported that fellow digital asset exchange giants Coinbase (NASDAQ: COIN) and Gemini were also on the verge of obtaining MiCA licenses—a fact that, according to the report, was raising some concerns about the rigor with which the regulators were assessing the applications and enforcing the rules. The regulators under the spotlight were those of Malta—who have been particularly active in approving licenses—and Luxembourg. As yet, no such concerns have been raised with regard to the Central Bank of Ireland. Kraken—and if the rumors are true, soon Coinbase and Gemini as well—join OKX, Bybit, and Bitstamp in the growing cohort of digital asset players who have obtained licenses to operate within the EEA under the bloc's new regulation. Watch: Teranode & the Web3 world with edge-to-edge electronic value system title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Coin Geek
19-06-2025
- Business
- Coin Geek
Philippines SEC lays down rules for crypto service providers
Getting your Trinity Audio player ready... The Philippines' Securities and Exchange Commission (SEC) has formally issued its rules governing crypto asset service providers (CASPs), requiring entities offering such services to register and obtain a license before operating in the country. The move follows a surge in digital asset activity and a growing number of fraud cases involving unregistered platforms. 'The rules were issued to support local players and go after those unregistered ones,' Atty. Paolo Ong, Assistant Director at the SEC, said during a forum at Philippine Blockchain Week 2025. 'We believe that the rules will give more teeth to our enforcement team, and they can be more assertive in going after unregistered platforms that are operating in the Philippines.' Under the new guidelines issued via a Memorandum Circular dated May 30, all CASPs must register as a stock corporation in the Philippines with a paid-up capital of at least PHP100 million ($1.8 million), excluding digital assets. They are also required to submit a business plan, a risk disclosure matrix, and other documentation to secure approval. Atty. Mark Gorriceta, Managing Partner of Gorriceta Africa Cauton & Saavedra (left) and Atty. Paolo Ong, Assistant Director of PhilFintech Innovation Office of the Securities and Exchange Commission (right) during the forum at the Philippine Blockchain Week 2025 held at the SMX Convention Center in Pasay City, Philippines. Focus on fund segregation and investor protection Ong explained that besides corporate registration and capital requirements, applicants must also ensure a clear separation of customer and company funds, an issue surfacing in several global digital asset exchange collapses. 'The CASP guidelines emphasize segregation of customer funds from exchange funds,' Ong said. 'It's because we see that learning from [the] collapse of other exchanges is really a key measure to protect investors [and] funds.' He added that platforms must ensure Filipino users understand the risks involved with owning crypto assets. 'We'd like Filipinos to access these products, but we require [them] to make them knowledgeable of the risks involved before they can engage with the platform.' Marketing restrictions and guidelines for educators, influencers One major provision addresses how digital asset products are marketed and promoted, especially online. According to Ong, anyone marketing or inducing the purchase of digital assets must be registered as a corporation and hold the necessary SEC license, with limited exceptions for third-party providers. 'The standard for us for marketing crypto assets in the Philippines would be simply a Philippine registration of a corporation—basic doing business, a primary license from the SEC,' Ong said. 'You don't need a CASP license for that, just a primary license.' As for content creators and educators, Ong said intent and transparency are key. 'We don't prohibit compensation for educational efforts, but we always look at good faith. If you're educating and not pushing a specific investment or platform, it's generally acceptable,' Ong said, adding that educators who promote specific products or platforms, especially those that are scams, could face enforcement actions. 'The enforcement team would really look at so-called educators that are pushing their audience into a specific platform,' Ong warned. No current license for crypto financial advisors, but sandbox is open Asked whether individuals offering trading or investment advice in digital assets should register as financial advisors, Ong clarified that the SEC currently has no licensing scheme for financial advisors, including in traditional markets. He said such individuals may want to enter the SEC's regulatory sandbox. 'We don't have it right now, but they might want to consider entering the sandbox if they would want to engage in that activity,' Ong said. Enforcement and industry collaboration moving forward The SEC stated that the new CASP rules are designed to evolve in tandem with the industry. Ong encouraged stakeholders to provide feedback as the regulations are implemented. 'We believe that the rules will not have a final form yet. It should continue to develop,' he said. 'We are always open to feedback, whether through forums like this or via email to the FinTech unit of the SEC.' As for enforcement, penalties include fines of PHP50,000 ($885) for a first offense, PHP100,000 ($1,770) for a second offense, and PHP200,000 ($3,540) for a third offense, along with possible license revocation. Unused CASP licenses may be canceled after 12 months, and late filing of reports may result in fines starting at PHP10,000 ($177) plus PHP500 ($8.85) for each day of delay. Ultimately, the SEC states that its goal is to protect Filipino investors while promoting compliant innovation. 'Risk-based supervision is what we aim for,' Ong said. 'The biggest risks we see are from unregistered foreign platforms and scammers. These rules are meant to guard against that.' Watch | The Philippines startup boom: Highlights from Sinigang Valley Build Startup Festival title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Coin Geek
19-06-2025
- Business
- Coin Geek
Concerns arise as Coinbase, Gemini set for EU licenses
Getting your Trinity Audio player ready... Coinbase (NASDAQ: COIN) and Gemini, two of the largest digital asset exchanges in the world, look set to be granted licenses to operate as Crypto Asset Service providers (CASPs) in the European Union, under the bloc's Markets in Crypto-Assets (MiCA) regulation, according to a report by Reuters. The June 16 report stated that Gemini, founded by Tyler and Cameron Winklevoss, is on the verge of receiving a license to operate from Malta, while Coinbase, the third-largest digital asset exchange by trading volume, is rumored to be in line for a license from Luxembourg. Despite the MiCA rules being uniform for every country across the EU, with the European Securities and Markets Authority (ESMA) setting guidelines and best practices for member state regulators to follow, the actual enforcement of the regulations is left to the 'relevant national competent authority' (NCA) of each nation. According to the Reuters report—which cited 'sources familiar with the matter' who wanted to remain anonymous—concerns have been raised in 'closed-door meetings' about the speed with which some licenses are being granted by certain regulators and the rigor with which they will enforce the MiCA rules. MiCA license The full MiCA provisions for CASPs came into force at the beginning of January. This included a mandate that CASPs must obtain a license from an NCA (i.e. a national regulator), in order to offer digital asset services within the EU and European Economic Area (EEA). Thanks to the 'passporting' feature of the regulation, a license issued by any member state's regulator allows the licensee (the CASP) to operate throughout the EEA, which includes every country in the 27-nation bloc, in addition to Iceland, Liechtenstein, and Norway. On January 27—a few short weeks after MiCA's CASPs provisions came into force—OKX and both announced themselves as being the first global exchange to secure a MiCA license. It's unclear which one actually was first, as they both claimed the title on the same day . Both exchanges also chose Malta to be their route to a license, but neither mentioned in their respective announcements why they chose Malta. In May, exchanges Bybit and Bitstamp, also obtained licenses; the former from Austria, and the latter became the first exchange to be granted a license by Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). Now, it appears Gemini and Coinbase are poised to join the club, with Malta and Luxembourg once again the countries of choice. Concerns of uneven enforcement The pace of these approvals, particularly those of Malta's regulator, the Malta Financial Services Authority (MFSA), has apparently raised eyebrows amongst other national authorities. According to the report, a 'senior regulatory official'—who also didn't want to be identified—told Reuters they had concerns about accepting licenses granted in countries where regulators had fewer staff, citing Malta—the country that has given out the most MiCA licenses thus far—as one example. If staff size and regulatory resources are of concern, then it makes sense that Malta and Luxembourg, the two smallest nations in the EU by both population size and land area, may be on the thinner end of the spectrum. These reported concerns also come at a time when the EU's top finance sector regulator, ESMA, is pushing for more power to become a Europe-wide version of the U.S. Securities and Exchange Commission (SEC). In September of last year, Mario Draghi, former European Central Bank (ECB) president, produced a report for the European Commission with his recommendations for the future of European competitiveness. In it, he proposed, as one of his key pillars, the creation of a U.S.-style 'European Security Exchange Commission,' with ESMA the logical body best suited to take on the role. 'ESMA should transition from a body that coordinates national regulators into the single common regulator for all EU security markets,' said Draghi. This idea has met with some support from leading national regulators within the bloc. In March, Marie-Anne Barbat-Layani, chair of the top French finance watchdog, told Bloomberg that it was 'ready to relinquish' some of its national powers and transfer them to ESMA. ESMA is yet to comment on the speed and rigor of the Malta and Luxembourg approvals, including the potential licenses for Gemini and Coinbase, but it has made clear that it will be monitoring how national regulators enforce the MiCA framework as part of its mandate to promote consistent supervision and enforcement practices for EU markets. Watch: Teranode is the digital backbone of Bitcoin title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
07-05-2025
- Business
- Yahoo
ATrack Solutions Named Business Affiliate of The Council of Autism Service Providers (CASP)
ST. AUGUSTINE, Fla., May 7, 2025 /PRNewswire/ -- ATrack Solutions, a leading provider of ABA-focused clinical and operational software, is proud to announce its official selection as a Business Affiliate of the Council of Autism Service Providers (CASP). CASP is a nationally recognized organization committed to elevating the quality of care and operations within the autism services field. ATrack offers tools for data collection, supervision, documentation, treatment planning, and assessments—all aimed at improving care quality and streamlining workflows in autism services. CASP's Business Affiliate designation recognizes organizations that provide meaningful support and solutions to autism service providers. With over 80,000 professionals represented through its member agencies, CASP plays a critical role in fostering excellence, innovation, and collaboration across the industry. At ATrack, we believe that technology should simplify the work of providers; not complicate it. That's why our platform was built by clinicians, for clinicians, offering smart tools for real-time supervision, streamlined documentation, integrated assessments, and customizable treatment planning. Joining CASP as a Business Affiliate reinforces our commitment to helping providers work more efficiently, make data-driven decisions, and ultimately deliver better outcomes for the individuals and families they serve. "We're honored to join CASP as a Business Affiliate and stand alongside organizations that are shaping the future of autism services. CASP is at the vanguard of clinical excellence, innovation, and the standardization of best practices and we're proud to support their mission of raising the bar across our field. At ATrack, we share that vision. With a clinical-first approach and software built by clinicians for clinicians, our mission is to create intuitive, outcome-driven tools that empower providers to deliver exceptional care with confidence. This partnership reflects our deep commitment to supporting professionals on the front lines and helping them scale their impact through smarter, more adaptive technology." — Yakov Halberstam, CEO, ATrack Solutions As part of this new relationship, ATrack looks forward to contributing to the CASP community, supporting its members through collaborative partnerships, and continuing to innovate in ways that elevate service delivery and operational sustainability in the autism services space. For more information about CASP and its Business Affiliate Program, visit About ATrack Solutions ATrack Solutions is a technology platform designed specifically for ABA, autism service providers, school districts and behavioral support. Built with clinical insight at its core, ATrack offers streamlined documentation, intelligent treatment planning, and integrated supervision tools that enhance both compliance and care quality. Learn more at
Associated Press
02-05-2025
- Business
- Associated Press
Yocbit Releases Latest Data: Global Users Exceed 8 Million, Daily Trading Volume Steadily Surpasses $1.2 Billion, Accelerating Global Compliance Strategy
New York, May 02, 2025 (GLOBE NEWSWIRE) -- Leading global digital asset trading platform Yocbit has officially released its latest operational data, showcasing strong growth momentum in the global digital economy. As of April 2025, the number of registered users on the Yocbit platform has surpassed 8 million, with an average daily trading volume consistently exceeding $1.2 billion. The acceleration of Yocbit's global compliance strategy further solidifies its leading position in the international digital asset trading market. As a pioneer in compliance-driven development, Yocbit has successfully obtained a Money Services Business (MSB) license issued by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), establishing its compliance status in the U.S. market. This achievement not only positions Yocbit as a recognized legitimate digital asset trading platform within the U.S. financial system but also lays a solid foundation for its expansion into European and global markets. Based in the U.S., Yocbit is simultaneously accelerating its market layout in Europe, actively responding to the compliance requirements of the EU's Markets in Crypto-Assets Regulation (MiCA) and applying for Crypto Asset Service Provider (CASP) licenses in Germany, France, Italy, and other countries. Meanwhile, Yocbit is building a global compliance operation network centered on the U.S., with Europe as a foothold, radiating into Asia, the Middle East, and Latin America, aiming to obtain formal financial regulatory approvals in over 10 countries and regions within the next 24 months. According to official data from Yocbit, the number of registered users has increased by 120% compared to the same period last year, with an active user ratio as high as 67%. Users from the U.S., Europe, Japan, South Korea, and the Middle East collectively account for over 78% of the user base. Currently, the number of global trading pairs supported by Yocbit has exceeded 450, covering major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and USDT stablecoin, and continually expanding into emerging fields like DeFi, GameFi, and RWA (Real World Assets). On the trading technology front, Yocbit's average daily spot trading volume reaches $1.2 billion, with peak daily trading volume surpassing $1.8 billion. The platform's self-developed matching engine supports concurrent processing of up to 120,000 transactions per second (TPS), with trading matching delays consistently below 10 milliseconds, leading the industry. In terms of security measures, Yocbit employs a multi-tiered cold wallet offline storage technology, with 98% of the platform's assets kept in cold storage. The platform has introduced an AI-driven risk control system that monitors trading activities in real-time around the clock. It enforces strict KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance processes, collaborating with top global blockchain security firms such as Chainalysis and CipherTrace, and regularly undergoes third-party audits and penetration testing. Yocbit's International Compliance Director stated, 'Data not only proves growth but also reflects our compliance strength and global reach. By establishing a strong presence in the U.S., deepening our engagement in Europe, and looking globally, Yocbit is taking concrete steps to lead digital asset trading platforms toward legalization, standardization, and globalization.' To further serve global users, Yocbit plans to establish 10 international operation centers and add three localized customer service centers by the end of 2025, covering North America, Europe, Asia, and the Middle East, enhancing user experience and improving its global response system. Yocbit's CEO concluded, 'We firmly believe that only a platform built on compliance, powered by technology, and driven by a global strategy can truly stand at the forefront of the future digital economy. Yocbit will continue to expand its international footprint, continuously improve service quality and security levels, and create a trustworthy, robust, and sustainable new ecosystem for digital asset trading for global investors.' Media contact Contact: Timothy I. Hall Company Name: YocBit Website: Email: [email protected] Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Timothy I. Hall YocBit Timothy (at)
