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Half of UK wealth advisers say clients' crypto is ‘invisible’ to them: CoinShares survey

Half of UK wealth advisers say clients' crypto is ‘invisible’ to them: CoinShares survey

Uverejnil používateľ | jún 25, 2026 |

A survey arranged by digital asset services provider CoinShares found that more than half of UK-based financial advisers reported the bulk of their clients’ crypto holdings were outside their oversight.According to the results of a CoinShares survey released on Thursday, 52% of UK advisers in a group of 261 European wealth management professionals said that the majority of their clients’ digital assets exposure was essentially “invisible” to them. Among all the EU countries surveyed, including France, Germany, Italy and Switzerland, the number was 25%, with 61% of advisers saying that they worked in companies that explicitly restricted digital assets or provided no clear internal guidance.“The capital has already been allocated,” said CoinShares co-founder and CEO Jean-Marie Mognetti. “The people entrusted with managing it simply cannot see it, and in most cases not because clients are unwilling to engage, but because firm policy prevents them from doing so. This is not a knowledge problem. It is not a demand problem. It is a firm-policy problem becoming a wrong-way risk.”He added:“[…] Visibility comes before advice. You cannot allocate, manage risk or earn trust over assets you cannot see.”Source: CoinSharesThe UK’s Financial Conduct Authority (FCA), the watchdog overseeing digital asset regulation, reported in December that about 8% of the country’s adults were invested in crypto. The group recently proposed allowing authorized investment funds to hold up to a 10% allocation of cryptocurrency exchange-traded notes.Related: Bank of England eases stablecoin rules, introduces 40B pound issuance capPotential new leadership to shake up UK crypto policy?UK Prime Minister Keir Starmer resigned as Labour leader on Monday amid pressure from many in his own party, opening the door to a recently elected member of parliament to take the reins. In a recent by-election, former Mayor of Greater Manchester Andy Burnham won a seat as a member of parliament representing Makerfield, positioning him to be heavily favored by many in Labour to replace Starmer. While it’s unclear how Burnham may handle crypto policy on a national stage, as mayor, he supported the blockchain industry as a driver for economic development.Magazine: AI is banking the unbanked in Africa… faster than cryptoCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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South Korean authorities fine Bithumb $136K over sharing user information overseas

South Korean authorities fine Bithumb $136K over sharing user information overseas

Uverejnil používateľ | jún 25, 2026 |

South Korean cryptocurrency exchange Bithumb was order to pay a $136,000 fine after it was found to have breached personal information protections rules when it sent user data overseas.In a Thursday notice, the country’s Personal Information Protection Commission (PIPC) said that its investigation into Bithumb found that the exchange had “transferred personal information overseas without the separate consent of the data subjects during the process of order book sharing and virtual asset transfer with overseas virtual asset exchanges.” The incident was connected to Bithumb sharing its Tether (USDT) order books between September and November 2025 with BingX, despite obtaining consent to share the data with Stellar, as well as sharing user information with 13 overseas exchanges.“The Personal Information Protection Commission determined that there is a necessity to provide personal information for anti-money laundering purposes when transferring virtual assets to other exchanges, but regarding the overseas transfer of personal information and the data subject’s right to self-determination, it was determined that, as this is a closely related matter, it is necessary to strictly comply with the requirements and procedures stipulated in the Protection Act,” the notice said, in translation.Source: PIPCOne of the largest crypto exchanges in South Korea, Bithumb has been subject to intense scrutiny from authorities. The country’s financial watchdog imposed a six-month suspension of the exchange’s activities in March over alleged violations of South Korea’s Financial Information Act, but a court reversed the decision in April. Earlier this month, police reportedly raided Bithumb’s offices as part of an investigation into alleged nepotism involving South Korean lawmaker Kim Byung-gi.Related: SBI to acquire Bitbank in $289M deal creating Japan’s biggest crypto exchangeSouth Korean crypto tax set to take effect in 2027South Korea’s Finance Ministry confirmed in May that a 22% tax on cryptocurrency gains would be imposed beginning in January 2027. The tax has faced several delays in implementation after initially expected to go into effect in 2025, but will likely affect many South Koreans who hold crypto.According to the Yonhap news agency, about 16 million South Koreans were invested in digital assets as of March 2025.Earlier this month, Chainalysis said that it signed a memorandum of understanding with the Korean National Police Agency (KNPA), aimed at building investigative capability within South Korea’s law enforcement. One of the driving factors behind the pact is to better combat North Korea-linked crypto attacks, with South Korea’s police “at the forefront” of tackling these threats. Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express

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FTX exec’s wife scheduled for November trial on campaign finance charges

FTX exec’s wife scheduled for November trial on campaign finance charges

Uverejnil používateľ | jún 24, 2026 |

Michelle Bond, the wife of former FTX Digital Markets co-CEO Ryan Salame, who is serving a 7.5-year prison sentence after reaching a plea agreement with prosecutors, is scheduled to stand trial in November following delays stemming from motions related to her husband’s plea deal.On Wednesday, Judge George Daniels in the US District Court for the Southern District of New York ordered a trial start date of Nov. 9 for Bond, who faces four charges related to campaign finance law violations. The proceedings came a week after the judge denied Bond’s motion to dismiss the indictment, based on claims that prosecutors had promised Salame she would not be charged if she pleaded guilty.Bond’s case is one of the final criminal proceedings related to the collapse of cryptocurrency exchange FTX, which filed for bankruptcy in 2022. The event led to criminal charges for Salame and other executives, including former CEO Sam “SBF” Bankman-Fried and former Alameda Research CEO Caroline Ellison.In an August 2024 indictment, prosecutors alleged that Bond and Salame “illegally funded” the former’s 2022 campaign for the US House of Representatives. Salame allegedly used $400,000 of FTX funds as part of a “sham” payment in violation of campaign finance laws. Bond ran as a Republican in New York’s 1st congressional district but lost in the primary to Nicholas LaLota.2022 campaign post on X (then Twitter) Source: Michelle BondSalame, charged in 2022 along with Bankman-Fried and others, was sentenced to 90 months in prison in 2024 after pleading guilty to conspiracy to make unlawful political contributions. He initially attempted to vacate his plea after claiming that prosecutors misled him over charging Bond, but ultimately reported to prison in October 2024 and left the matter to his wife’s case.Bankman-Fried, angling for a presidential pardon, loses appealSalame, Bankman-Fried and Ellison were the only three people tied to FTX to receive prison time. Two other executives, Nishad Singh and Gary Wang, were given time served after testifying against SBF at trial. Ellison, meanwhile, was released early in January after serving less than her two-year sentence.Related: US lawmakers warn against presidential pardon for Sam Bankman-FriedAside from Bond’s expected trial, Bankman-Fried was the only one connected to the crypto exchange to have his day in court. He was found guilty on seven felony charges and sentenced to 25 years in prison in 2024.Although Bankman-Fried filed to appeal his conviction and sentence, he also recently applied for a presidential pardon from Donald Trump. The Second Circuit Court of Appeals rejected SBF’s appeal earlier this month, leaving the US Supreme Court or a presidential pardon as his only likely path to freedom over the next 20 years. Magazine: AI is banking the unbanked in Africa… faster than crypto

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Kalshi sues Illinois officials over prediction markets restrictions

Kalshi sues Illinois officials over prediction markets restrictions

Uverejnil používateľ | jún 24, 2026 |

Prediction markets company Kalshi has filed a lawsuit against state officials in Illinois over legislation it says “expressly bans sports event contracts” on its platform.In a Tuesday filing in the US District Court for the Northern District of Illinois, Kalshi alleged that Illinois Governor JB Pritzker, Attorney General Kwame Raoul, and other officials on the state’s gaming board “usurped” the authority of the US Commodity Futures Trading Commission (CFTC) over prediction markets. Specifically, the company alleged that legislation signed into law last week in Illinois, requiring prediction market platforms to be licensed in the state to offer sports event contracts, violated federal law. Kalshi claimed that it would be “irreparably harmed” when the law, Illinois Senate Bill 3019, takes effect on July 1.“If Kalshi complies with the new state law by ceasing to offer its sports event contracts in Illinois, that would put Kalshi in violation of the CFTC’s uniformity requirements, harm Kalshi’s commercial interests, and require the company to implement complex and expensive technological solutions to limit access in Illinois — incurring costs that would not be recoverable when Kalshi ultimately prevails in the action,” said the complaint.Source: PACERThe Illinois law, passed as part of a state budget package for the fiscal year 2027, included a 0.2% tax on crypto transactions and has already been heavily criticized by many in the industry. The legislation amended the state’s definition of an “exchange wager” to include “an agreement, contract, transaction, or swap that is offered, traded, or executed on a prediction market or exchange tied to a sporting contest or sporting event,” making prediction market companies subject to the same rules as entities offering sports betting.Related: Mark Zuckerberg ordered Meta staff to develop moneyless prediction market: NYT“[…] Kalshi faces similar irreparable harms if it attempts to comply with SB 3019 by offering sports events contracts in compliance with Illinois’s costly and restrictive licensing and regulatory regime,” said the company. “Nor can Kalshi avoid these harms by simply disregarding the unlawful state requirements because an enforcement action by Illinois could subject Kalshi to criminal penalties.”Legal fights eventually headed to the Supreme Court?Kalshi’s lawsuit was the latest in a jurisdictional fight between federal and state authorities over sports betting on prediction markets. The CFTC, headed by Commissioner Michael Selig, has claimed exclusive authority over the companies under the Commodity Exchange Act, arguing that the platform’s event contracts are “swaps” within its jurisdiction. The agency has filed several lawsuits against state authorities over this claim, most recently in response to Kentucky’s restrictions on prediction markets.Some experts expect that the legal battles will end up at the US Supreme Court, given the opposing claims by federal regulators and state gaming officials.Magazine: AI is banking the unbanked in Africa… faster than crypto

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Crypto-backed candidates notch wins in three US state primaries

Crypto-backed candidates notch wins in three US state primaries

Uverejnil používateľ | jún 24, 2026 |

Several Democrats and one Republican who were supported by more than $8 million worth of ads funded by cryptocurrency-aligned political action committees (PACs) won their respective US primaries on Tuesday, setting up their candidacies for the November election.Party primaries for US House of Representatives and Senate candidates in Utah, Maryland and New York resulted in wins for many aligned with crypto industry interests. PACs like Fairshake and its affiliates, largely backed by crypto companies Coinbase and Ripple Labs, spent a combined $8 million on media to support the candidates it considered likely in favor of digital asset policies for the next session of Congress.In New York, Democrat Ritchie Torres won a primary for the state’s 15th congressional district with 71.9% of the vote, while in Utah, Republican Blake Moore won in the 2nd district with 57.5% of the vote. Fairshake affiliate Protect Progress reported $5.5 million in expenditures to support Adrian Boafo, who won the Democratic primary for Maryland’s 5th district with 32% against other candidates who opposed “spending from crypto billionaires.” “We went big and we went early,” said Fairshake spokesperson Geoff Vetter. “We did our part to move Adrian Boafo from fifth place to the halls of Congress.”Source: The New York TimesFairshake, which reported having “$150 million cash on hand” in June after its spending in several US state primaries, may have already influenced voters in key elections in its attempts to send candidates to Congress it considers to be “pro-crypto.” Other PACs aligned with crypto interests that have reported spending on 2026 candidates included Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, a hybrid PAC backed by Anchorage and Chainlink Labs.Related: Trump cancels signing of housing bill with CBDC banNot every pro-crypto candidate emerged a winner on Tuesday. Alex Bores, a Democrat running in New York’s 12th District, lost to Micah Lasher. He criticized Bores in a June debate, saying that he potentially benefitted from Ripple Labs co-founder Chris Larsen spending $3.5 million to support his campaign.Next primaries in Colorado and Arizona, but no reports of spending yetMany expect Fairshake and other crypto-aligned PACs to turn their attention to candidates in Colorado and Arizona next. The two states are scheduled to hold primaries on June 30 and July 21, respectively, but Fairshake affiliates had not disclosed significant spending in any of the races as of Wednesday. In 2024, the PAC and its affiliates poured more than $10 million into media to support Ruben Gallego’s Senate race in Arizona and $2.1 million for Democratic Representative Yadira Caraveo in Colorado’s 8th district. Gallego won his race, while Caraveo lost in the November 2024 election to Republican Gabe Evans.Magazine: AI is banking the unbanked in Africa… faster than crypto

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