2023-6-23 00:06 |
Crypto custody firm Prime Trust has "a shortfall in customer funds" and was unable to meet all withdrawal requests this month, the Nevada Department of Business and Industry said Thursday.
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Financial regulators in Nevada issued a cease and desist order against Prime Trust on June 21 after monitoring the company for solvency. In an email to CryptoSlate, the Nevada Financial Institutions Division (NFID) said it monitored the solvency of Prime Trust prior to a possible acquisition or merger.
2023-6-23 02:41 | |
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On July 10, 2018, news broke that cryptocurrency wallet and decentralized exchange Bancor was hit with a hack. A wallet the Bancor team used to update the protocol’s smart contracts was infiltrated, and the $23.
2018-8-3 19:24 | |
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The CEO and other top executives are accused of a breach of fiduciary duties, unjust enrichment and wasting corporate assets.
The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto.
Nevada's Financial Institutions Division cited concerns over unsafe operations and insolvency as it took against Prime Trust.
Nevada's Financial Institutions Divisoin filed to appoint a receiver for crypto custodian on Prime Trust, the regulator announced on Tuesday.
Citing recent inquiries from bitcoin businesses, Nevada is asking that bitcoin ATMs and others request license determinations. The post Nevada: Bitcoin ATMs, Other Services Should “Request Licensure Determination” appeared first on Bitcoin Magazine.
Nevada abruptly changed its regulatory stance on cryptocurrency kiosks, alarming many providers.