(Bloomberg) Gemini Trust Co., the crypto exchange founded by twin entrepreneurs Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers though the Genesis Global Capital bankruptcy as part of settlement with the New York Department of Financial Services. Most Read from BloombergApple to Wind Down Electric Car Effort After Decadelong OdysseyHow Much Wealth You Need to Join the Richest 1% Around the WorldTrump Eyes $4 Billion Stock Windfall as His Legal Bills Pile UpFlawed
The Supreme Court agreed Friday to hear an appeal from the National Rifle Association concerning the group’s allegations that the former head of New York’s Department of Financial Services tried to persuade banks and insurance companies to sever ties with the gun rights group.
New York Department of Financial Services entered a consent order resolving an examination of a payment service provider allowing merchants to accept Bitcoin payments from customers in exchange for the equivalent value in local currency credited to the merchant’s bank account.
New York Department of Financial Services issued Guidance on Custodial Structures for Customer Protection in the Event of Insolvency emphasizing importance of sound custody and disclosure practices. This month Securities and Exchange Commission SEC did same.