News & Events

Decentralized finance (DeFi) has exploded in popularity as an alternative venue for cryptocurrency trading, lending and other financial activities. However, recent enforcement actions by the Commodity Futures Trading Commission (CFTC) serve as a stern warning that DeFi protocols cannot ignore regulatory compliance obligations. DeFi operators must register appropriately and meet requirements under the Commodity Exchange Act (CEA) or risk penalties.

Introduction

The Federal Deposit Insurance Corp. (FDIC) has added crypto to its annual report on risks facing U.S. banks, highlighting the "novel and complex risks" that digital assets pose to the banking system. The report is part of the FDIC's Risk Review, which provides a comprehensive summary of key developments and risks in the U.S. banking system. The FDIC has stated that it is prepared to engage in "robust supervisory discussions" with the depository institutions it oversees. 

In a stunning twist of events, a small crypto investment platform known as Fintoch or DFintoch mysteriously vanished into thin air along with $31.6 million of user funds. Promising investors a daily profit of 1% and claiming ties to the prestigious financial institution Morgan Stanley, DFintoch now appears to have been an elaborate scheme designed to steal people's hard-earned money.

In a filing on March 22, 2023, the Securities and Exchange Commission charged TRON founder Justin Sun with fraud, along with three companies he owned: Tron Foundation, BitTorrent Foundation, and Rainberry Inc.

Merkle Science, the leading predictive Web3 risk and intelligence platform, has received SOC 2 Type 2 certification, validating its commitment to security and compliance in the corporate, government and fintech space. Security and compliance are important goals at Merkle Science. The SOC 2 Type 2 accreditation assures our customers and partners that our platform is secure, reliable and in line with industry standards. It reflects our commitment to operational transparency and accountability, as well as our commitment to protecting our customers' privacy. Sensiba San Filippo LLP, a Certified B Company, conducted the audit over a period of 8 months. Merkle Science is entrusted with the design and implementation of internal controls for all five trust services- Security, availability, processing integrity, confidentiality, and privacy  as part of the certification.

Merkle Science is proud to announce that we are Service Organization Control (SOC) 2 Type 1 compliant. On May 4, 2022 Merkle Science successfully completed a SOC 2 Type 1 audit, which was conducted by Sensiba San Filippo LLP, a Certified B Corporation that specializes in accounting and business advisory services. 

NEW YORK - 14 June, 2022: The HBAR Foundation and Merkle Science, the predictive crypto risk and intelligence platform, have today announced their partnership. This collaboration supports Hedera’s journey to build the world's first mass adopted public decentralized ledger, empowering network participants to better identify and mitigate crypto crime, comply with local and global regulations and protect consumers.

SINGAPORE - 26 May 2022: Today, Merkle Science, the predictive crypto risk and intelligence platform, announced a landmark partnership with the leading payment gateway, RelayPay. This partnership showcases the companies’ commitment to building a compliant ecosystem as digital assets become a linchpin of the financial industry.

On May 3, 2022, the Securities and Exchange Commission (SEC) announced that it is nearly doubling the Crypto Assets and Cyber Unit, bringing the headcount to a total of 50 positions. The SEC said that the 20 new additions include investigative staff attorneys, trial lawyers, and fraud analysts.