94 / 95 Relevant items tagged with #Regulation
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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
Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation
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.”
SEC pushes deadline to decide on ARK 21Shares spot Bitcoin ETF to January 2023
[Nov 15, 2022 1:45 PM] “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change," said the SEC.
NY Fed launches 12-week CBDC pilot program with major banks
[Nov 15, 2022 11:15 AM] Banking giants including BNY Mellon, Citi, U.S. Bank, and Wells Fargo will be issuing tokens and settling transactions through simulated central bank reserves as part of the pilot.
Bahamas’ supreme court approves ‘provisional liquidators’ for FTX
[Nov 15, 2022 10:30 AM] The Securities Commission of the Bahamas said it had to act “given the magnitude, urgency, and international implications of the unfolding events with regard to FTX.”
US President Biden announces pick for FDIC chair
[Nov 14, 2022 4:11 PM] Martin Gruenberg was the FDIC’s acting chair while the agency issued cease-and-desist orders to crypto firms and suggested that payment stablecoins merited further consideration.
South Korean prosecutors call on Terra co-founder Shin Hyun-seong to cooperate: Report
[Nov 14, 2022 2:50 PM] Authorities reportedly alleged Shin Hyun-seong earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse.
Manhattan District Attorney’s Office probes FTX collapse: Report
[Nov 14, 2022 12:15 PM] A source with knowledge of the investigations reportedly said New York authorities were looking into the collapse of FTX following the firm declaring bankruptcy on Nov. 11.
Manhattan District Attorney Freezes $1.3 Million in Crypto — Seeks to Return Funds to Fraud Victims
Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes
[Nov 13, 2022 9:00 PM] The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. SEC Chairman Gary Gensler was rumored to be helping FTX with legal…
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto
[Nov 13, 2022 3:00 PM] The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will…
Indian Authority Freezes 150 Bitcoins Held at Binance Crypto Exchange
[Nov 13, 2022 1:30 AM] India’s Enforcement Directorate (ED) says that it has frozen 150.22 more bitcoins held at cryptocurrency exchange Binance. The freeze is part of an investigation into mobile gaming application E-nuggets, which was designed to defraud the…
US Treasury Secretary and Indian Finance Minister Discuss Crypto Regulation
[Nov 12, 2022 11:30 PM] U.S. Treasury Secretary Janet Yellen and Indian Finance Minister Nirmala Sitharaman discussed crypto regulation during the ninth India-U.S. Economic and Financial Partnership meeting. They stressed the importance of international cooperation and…
Former US Treasury Secretary Larry Summers Compares FTX Collapse to Enron Fraud
[Nov 12, 2022 9:30 PM] Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said the regulatory community ought to draw two lessons…
Japanese Regulator Slaps FTX Japan With Business Suspension Order
[Nov 11, 2022 11:30 PM] Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order to FTX Japan, the Japanese subsidiary of FTX.com. The financial watchdog has also ordered the crypto exchange to submit a business…
White House, US Senators Call for Proper Crypto Oversight
[Nov 11, 2022 9:30 PM] The White House and members of the U.S. Senate Banking Committee have called for proper cryptocurrency regulation following the collapse of crypto exchange FTX. “Without proper oversight of cryptocurrencies, they risk harming everyday…
SEC Chair Gensler Discusses Crypto Regulation Following FTX Collapse — Says This Field Is ‘Significantly Non-Compliant’
[Nov 11, 2022 7:30 PM] The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined two paths the agency is taking to regulate the crypto industry. Meanwhile, a U.S. congressman is investigating whether Gensler helped FTX CEO Sam…
CySEC requested FTX's European arm suspend operations prior to bankruptcy: Report
[Nov 11, 2022 11:00 AM] FTX Europe was one of roughly 130 companies in FTX Group which will be a part of bankruptcy proceedings in the United States.
California Regulator Reveals Investigation Into FTX’s Failure, Says ‘Crypto Assets Are High-Risk Investments’
[Nov 11, 2022 8:00 AM] After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published…
Bahamas Regulator Freezes FTX Assets — Supreme Court Appoints Provisional Liquidator
[Nov 11, 2022 6:15 AM] The Bahamas Securities Commission has frozen the assets of FTX Digital Markets and related parties. The financial regulator said the prudent course of action is to put the crypto firm “into provisional liquidation to preserve assets and…
Indonesia to Change Crypto Regulators as Part of Plan for Stricter Oversight
[Nov 11, 2022 4:30 AM] The government of Indonesia wants to assign crypto supervision to the Asian nation’s financial watchdog in order to ensure better protection for investors. The move is part of a planned overhaul of regulations in the sector aimed at increasing…
US Senator Says Crypto Needs ‘More Aggressive Enforcement’ — ‘I’m Going to Keep Pushing SEC to Enforce the Law’
SEC, DOJ Investigate FTX — Regulators Suspect Crypto Exchange Mishandles Customer Funds
[Nov 10, 2022 5:00 PM] The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory…
White House says 'prudent regulation of cryptocurrencies' is needed, hinting at situation with FTX
[Nov 10, 2022 3:50 PM] According to Press Secretary Karine Jean-Pierre, the administration and financial agencies will “closely monitor” developments in the crypto market.