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The Prudential Regulation Authority (PRA) has asked businesses in the UK to disclose current and future crypto exposures by March 2025, in order to assess financial stability and set policy. The Bank of England’s regulatory division issued the request on Friday, amid a growing number of UK firms embracing crypto. The PRA has also asked firms to explain how they use the Basel framework , which sets standards and minimums for bank capital requirements. “This will inform work across the PRA and the Bank of England on cryptoassets by helping us calibrate our prudential treatment of cryptoasset exposures, [and] analyze the relative costs and benefits of different policy options,” the PRA said. ‘Ave you got a license for that memecoin? UK bans Pump Fun Read more: TikTok accused of operating as crypto exchange in the UK, report Additionally, the PRA requests information on businesses’ use of permissionless blockchains. In the questionnaire that they ha...

  Alex Mashinsky, ex-CEO of failed crypto lender Celsius Network is facing a fresh lawsuit from New York Attorney General Letitia James. The lawsuit also seeks to ban Mashinsky from making any business operations in New York.  Lawsuit Calls Mashinky a Fraud The suit accuses Mashinsky of committing fraud by being untruthful about Celsius’ financial health between 2018 and June 2022. He allegedly defrauded hundreds of thousands of Celsius users, falsely assuring them of the platform’s stability. This was apparently a ploy to keep funds rolling into the company. Celsius reportedly lost hundreds of millions of dollars through unsafe investments. However, the company was able to rake in billions in crypto thanks to Mashinsky’s misleading statements, says the suit.  Per the release, the Israeli-American’s false representation of Celsius’s crumbling state affected over 26,000 New York residents.  A few cases came up in the suit such as one New Yorker who mortgaged two properties and...