86 / 88 Relevant items tagged with #Regulation

Posts

US Lawmaker: FTX Collapse Isn’t a Crypto Failure — It’s a Failure of SEC, Bankman-Fried, Centralized Finance

[Nov 23, 2022 5:00 PM] U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get to the bottom of this. We need to understand why…

US lawmakers ask DOJ hold FTX execs accountable 'to the fullest extent of the law'

[Nov 23, 2022 1:11 PM] “The fall of FTX was not simply a result of sloppy business and management practices, but rather appears to have been caused by intentional and fraudulent tactics," said the letter.

Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax

[Nov 23, 2022 5:00 AM] According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto…

Austrian Crypto Exchange Bitpanda Secures Trading License From Germany’s BaFin

[Nov 23, 2022 3:30 AM] Crypto exchange and custody platform Bitpanda announced on Nov. 22 that it had received a crypto trading license from Germany’s Federal Financial Supervisory Authority. According to Bitpanda, securing a license means it has become the…

Bank of England Deputy Governor: FTX Collapse Highlights Urgent Need for Tighter Crypto Regulation

[Nov 22, 2022 10:30 PM] Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, says the collapse of cryptocurrency exchange FTX has highlighted the urgent need for tighter crypto regulation. “We should not wait until it is large and…

Approving a spot crypto ETF is 'all about political power' — Perianne Boring

[Nov 22, 2022 3:55 PM] According to the Chamber of Digital Commerce CEO, passing any kind of legislation — including bills on crypto and blockchain — will be "incredibly difficult" in a divided government.

Shiba Inu developer says WEF wants to work with project to 'help shape' metaverse global policy

[Nov 22, 2022 3:53 PM] Shytoshi Kusama reported Shiba Inu could work alongside Facebook and Decentraland by working on metaverse global policy at the World Economic Forum.

‘Substantial amount’ of FTX’s assets stolen or missing — Bankruptcy counsel

[Nov 22, 2022 12:00 PM] “We’re not just talking about crypto assets, or cash assets, or physical assets — we’re also talking about information, and information here is an asset,” said James Bromley.

Federal Reserve Bank President Says ‘Entire Notion of Crypto Is Nonsense’

[Nov 21, 2022 9:30 PM] The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says crypto exchange FTX isn’t “one fraudulent company in a serious industry.” Stating that the “Entire notion of crypto is nonsense,” the Fed…

US Senate committee schedules FTX hearing for Dec. 1, CFTC head to testify

[Nov 21, 2022 3:30 PM] The hearing, titled 'Why Congress Needs to Act: Lessons Learned from the FTX Collapse', will be one of the first in which U.S. lawmakers explore what happened with the exchange.

Brazilian Cryptocurrency Bill Resurfaces After General Ballot

[Nov 21, 2022 3:30 AM] The Brazilian cryptocurrency bill, sidelined several times due to the general election ballot that happened on October 30, might be discussed and voted on during the following week. According to reports, the project identified as 4.401/2021 will be…

New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations

[Nov 21, 2022 12:30 AM] A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the…

Former US Regulator Likens FTX and Sam Bankman-Fried to Bernie Madoff and His Ponzi Scheme

[Nov 20, 2022 2:30 AM] Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair likens the fall of crypto exchange FTX and its former CEO Sam Bankman-Fried to the infamous Ponzi Scheme of Bernie Madoff. “It felt very Bernie Madoff-like in that…

South Korea Freezes $104 Million in Assets Belonging to Terra Co-Founder

[Nov 20, 2022 12:30 AM] South Korea’s prosecutors have reportedly obtained a court order to freeze assets worth about $104 million belonging to Terraform Labs co-founder Daniel Shin. The authorities allege that he unfairly profited from selling cryptocurrency LUNA…

Regulations Will Lead To A Two-Tiered Bitcoin Society

[Nov 19, 2022 7:00 AM] FTX is the greatest excuse, whether planned or not, to further control bitcoin on-ramps and take away the possibility of self-custody and true ownership.This is an opinion editorial by Thibaud Marechal, builder of Knox bitcoin custody…

Amendments to Russia’s Digital Asset Law Aim to Allow Mining, Ban Crypto Exchange and Ads

[Nov 19, 2022 5:00 AM] Russian lawmakers have proposed changes to the current law “On Digital Financial Assets” in order to regulate crypto mining while banning the circulation of cryptocurrencies in the country. The legislation also prohibits the non-targeted…

NYDIG Analyzed The FTX Collapse And Its Implications. What Did We Learn?

[Nov 19, 2022 2:19 AM] It’s time for NYDIG to chip in. The FTX fiasco is the theme of the month in the crypto world, and the show’s just beginning. The NYDIG research team avoids the temptation to summarize the whole saga and goes straight to the implications of the fall…

Bahamas Regulator Takes Action to Seize FTX’s Cryptocurrencies to ‘Protect’ Clients and Creditors

[Nov 18, 2022 7:30 PM] The Securities Commission of the Bahamas has ordered crypto exchange FTX to transfer its cryptocurrencies to a wallet controlled by the regulator. The “Urgent interim regulatory action was necessary to protect the interests” of…

The State Will Stifle Innovation, Unless We Opt Out With Bitcoin

[Nov 18, 2022 2:00 AM] As governments around the world prepare for central bank digital currencies, it is imperative that we use bitcoin to solve challenges of the 21st century.This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and…

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would’ve Prevented FTX Bankruptcy

[Nov 17, 2022 9:00 PM] U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital…

Regulator Halts Trading of FTX Tokens in Indonesia

[Nov 17, 2022 1:00 PM] The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to…

Aussie treasurer promises crypto regulation next year amid FTX debacle

[Nov 17, 2022 12:32 AM] A spokesperson for Australian Treasurer Jim Chalmers said they are closely monitoring the fallout from FTX's collapse.

SEC Enforcement Remains Focused on Crypto — Chair Gensler Says He’s ‘Impressed’ With Enforcement Results

[Nov 16, 2022 5:00 PM] The U.S. Securities and Exchange Commission (SEC) says its Enforcement Division “remains focused on the rapidly evolving crypto asset securities space.” The securities regulator filed 760 enforcement actions in total this fiscal year…

FTX And Bitcoin: The Good, The Bad And The Ugly

[Nov 16, 2022 2:00 PM] The collapse of FTX teaches valuable lessons, alongside the certainly negative aspects of contagion spreading in the industry.This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the…

Crypto skeptic Brad Sherman: federal financial regulators 'sound like Sam Bankman-Fried'

[Nov 16, 2022 11:46 AM] The U.S. lawmaker suggested four financial regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes.

FTX collapse was a ‘dumpster fire,’ says US lawmaker announcing investigative hearing

[Nov 16, 2022 10:00 AM] “There is no sugarcoating it: the FTX collapse has been a dumpster fire,” said House Financial Services Committee ranking member Patrick McHenry.

US Lawmaker Urges SEC to ‘Take Decisive Action’ to Regulate Crypto Industry — Plans to Examine Options for Federal Legislation

[Nov 15, 2022 11:30 PM] U.S. Congressman Brad Sherman has called on the Securities and Exchange Commission (SEC) to “take decisive action to put an end to the regulatory gray area in which the crypto industry has operated.” He added that he plans to work…

Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation

[Nov 15, 2022 5:30 PM] U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire crypto sector while Brainard…

Will SBF face consequences for mismanaging FTX? Don’t count on it

[Nov 15, 2022 5:13 PM] Lawmakers, regulators and even the institutional media don’t seem to have much interest in faulting SBF for using customer money to trade under the table.

FDIC acting chair says no crypto firms or tokens are backed by agency

[Nov 15, 2022 2:45 PM] Martin Gruenberg answered affirmatively to Senator Bob Menendez that there were “no cryptocurrency firms backed by the FDIC” and its coverage did not include crypto "of any kind.”