ASX’s failed blockchain-based CHESS overhaul faces renewed governance scrutiny after the exchange admitted misleading the market. An Australian Securities Exchange (ASX) shareholder plans to seek Federal Court permission to sue former ASX officers and directors over alleged breaches of duty connected to its failed blockchain-based clearing and settlement overhaul. On Wednesday, ASX said Rosherville Pty Ltd had notified the exchange that it proposes to apply for leave to commence a statutory derivative action under sections 236 and 237 of Australia’s Corporations Act. If approved, Rosherville would bring the proceedings on ASX’s behalf. The exchange said there were no allegations against ASX itself. It did not identify the former officials targeted, describe their alleged breaches in detail or disclose the remedies Rosherville intends to seek, while the court has not considered whether the proposed case can proceed. Read more
Qualifying new customers can receive full reimbursement, including fees, if they notify both the operator and law enforcement within 30 days. Arizona’s crypto ATM law has helped 35 scam victims receive full refunds totaling $171,332 since the measure took effect in September 2025, according to the state’s attorney general. On Wednesday, the Arizona Attorney General’s Office said it helped the victims obtain full refunds and urged residents to quickly report fraudulent transactions to avoid missing the law’s 30-day deadline. Under House Bill 2387, crypto kiosk operators must refund eligible new customers for fraudulently induced transactions, including any associated fees. Victims must contact both the operator and the attorney general or another law enforcement agency within 30 days and provide the operator with an official report determining that they were fraudulently induced into making the transaction. Read more
Hawaii will join Minnesota, Tennessee and Indiana in becoming the fourth US state to completely ban the use of cryptocurrency ATMs and kiosks in response to scams. Hawaii will soon become the latest US state to enact a total ban on cryptocurrency kiosks and ATMs after its governor signed off on legislation. Following the passage of House Bill 1642 by Hawaii’s legislature in May, Governor Josh Green signed the legislation into law in July, setting the US state for a complete prohibition on “the ownership, operation, or management of a digital financial asset transaction kiosk that accepts United States currency from a customer in exchange for a digital financial asset.” The bill cited data from the Federal Bureau of Investigation’s Internet Crime Complaint Center, which reported in April that Americans lost more than $11 billion from scams related to digital assets in 2025. The bureau added that it had recorded 826 complaints related to crypto from Hawaii residents in 2025, with the US state having about $80 ...
The deal would add NEOS’ $30 billion ETF business, including Bitcoin- and Ether-linked income funds, to Goldman Sachs Asset Management. Goldman Sachs has agreed to acquire exchange-traded fund manager NEOS Investments for up to $2.25 billion, a deal that would add the firm’s Bitcoin- and Ether-linked funds to its growing ETF business. NEOS manages $30 billion across 19 options-based income ETFs, including the Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI). The crypto funds use options-based strategies designed to generate monthly income alongside exposure to Bitcoin (BTC) or Ether (ETH). The acquisition is expected to close in the first quarter of 2027, subject to regulatory approval, with NEOS co-founders Troy Cates and Garrett Paolella and the firm’s broader team set to join Goldman Sachs Asset Management. Read more
Council Speaker Julie Menin sent letters to four companies offering prediction market services to New Yorkers as part of an investigation into their marketing practices. The New York City Council launched an investigation into companies offering prediction market services, aiming to examine whether they used “false and deceptive marketing” through influencers to target young adults. In a Wednesday notice, the council said Speaker Julie Menin sent letters to Kalshi, Polymarket, Coinbase and Gemini Titan as part of an investigation into what they called “abusive marketing” through the platforms’ prediction market services. The probe will determine whether New York City officials need to consider additional measures against such marketing practices, including legislation, education and enforcement. “Apps like Polymarket are expanding rapidly unchecked,” said Council Member Shekar Krishnan, who chairs the committee on oversight and investigations. “Their unprecedented reach is because they are preying on young ad...