2 / 3 Relevant items tagged with #StateOfCrypto

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The Ever-Dwindling Chances for a Stablecoin Law

[Apr 23 7:30 PM] Last week, U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced a joint bill addressing how stablecoins could be regulated in the country. It's the latest effort to try and get something done in the U.S. legislative…

Looking at Sam Bankman-Fried's Appeals Process

[Apr 16 10:25 PM] As expected, Sam Bankman-Fried's legal team filed a notice of his intent to appeal his conviction on fraud and conspiracy charges. So far all we have is just the notice – the actual brief won't come for some time yet.

Is the Sam Bankman-Fried Story Over?

[Apr 9 8:30 PM] Last month, I attended Sam Bankman-Fried's sentencing hearing. Not that anyone asked, but I have some thoughts.

What a Judge Said About the SEC's Suit Against Coinbase

[Apr 2 8:30 PM] Coinbase and Custodia both lost early and preliminary court fights. The Coinbase loss was more or less expected – companies rarely win much on a motion for judgment at such an early stage – but still pretty enlightening.

Binance Is Having an Odd Time

[Mar 26 6:30 PM] Binance is having a weird moment, perhaps most clearly illustrated by the fact that a national government detained two of its executives for a month now – and one is only free because he seemingly escaped custody.

Does Sam Bankman-Fried Deserve 50 Years in Prison?

[Mar 19 8:30 PM] The stage is set for a federal judge to determine how long Sam Bankman-Fried may spend in prison. The U.S. Department of Justice and defense attorneys have now both filed their arguments, as well as statements from FTX creditors (from the…

How an Appeals Court Ruled on an Aspiring Class-Action Lawsuit Against Binance

[Mar 12 10:13 PM] A federal appeals court ruled last week that Binance needs to face a putative class-action lawsuit from a group of U.S.-based crypto investors who allege the exchange allowed them to buy and trade unregistered securities in the form of certain…

How the SEC's Recent Win May Play in Its Coinbase, Binance Cases

[Mar 6 4:00 PM] A federal judge ruled that secondary-market transactions for certain cryptocurrencies violated securities law. The catch: This was a default judgment. The defendant never showed up, and no one filed amicus briefs to oppose the Securities and…

Sam Bankman-Fried Doesn't Want to Go to Prison for 100 Years

[Feb 28 5:30 PM] Sam Bankman-Fried's new legal team filed his sentencing memo, alongside 29 different character references and other supporting documents, arguing he shouldn't face a lengthy prison term after his conviction last November on two fraud and five…

Looking at Kraken's Motion to Dismiss an SEC Lawsuit

[Feb 23 5:30 PM]

The SEC Takes on Dealer Definitions

[Feb 13 5:00 PM] The U.S. Securities and Exchange Commission published a new definition for securities dealers, capturing crypto.

A Quick Look at Last Month's U.S. Crypto Crime Log

[Feb 6 8:30 AM] While our attention was focused on exchange-traded funds earlier this month, federal regulators in the U.S. announced charges or sentences for various crypto parties.

How the Crypto Industry Responded to FinCEN's Proposed Mixer Rule

[Jan 30 8:30 AM] Last October, the Financial Crimes Enforcement Network proposed implementing a new regulatory regime for crypto mixing services that would treat the entire class of privacy tools as money laundering threats and force new recordkeeping rules on U.S…

What's Uniting the SEC's Crypto Cases

[Jan 24 3:30 PM] Earlier this week, a federal judge asked attorneys with the U.S. Securities and Exchange Commission why – "big picture" – there wasn't any sort of uniting regulation addressing crypto.

The SEC Goes Back to Court

[Jan 19 9:00 PM] Last summer, the U.S. Securities and Exchange Commission (SEC) sued crypto exchanges Coinbase and Binance, alleging they listed and traded unregistered securities in the form of various cryptocurrencies. This week, the regulator's legal teams faced…

Bitcoin ETF Confusion Abounds

[Jan 10 1:30 PM] The crypto industry can breathe a sigh of relief: It looks like a federal U.S. regulator will let the world's largest traditional finance asset managers and other firms list and trade shares of a vehicle giving retail and institutional investors…

Will 2024 Be the Year of the Bitcoin ETF?

[Jan 4 5:30 AM] Excitement over a spot bitcoin ETF – a regulated financial product that would give institutional and retail investors easier exposure to bitcoin's price without requiring them to invest directly in the asset – continues to grow.

Elections, SEC Cases, DOJ Cases: What Crypto Regulation May Bring in 2024

[Dec 27, 2023 7:30 AM] The CoinDesk policy team is scattered throughout the world; in the final edition of this newsletter, each member explains what they're watching in 2024 in the world of crypto regulations. Happy holidays, and we'll see you next year!

SEC Chair Gary Gensler: 'Far Too Many Frauds and Bankruptcies'

[Dec 22, 2023 7:30 AM] Earlier this month, I had the opportunity to speak with U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, recognized by CoinDesk as one of the most influential figures in the crypto industry over the past year, about how he views…

In Search of the Elusive Crypto Voter

[Dec 14, 2023 12:30 AM] On Monday, a New Hampshire state representative asked a mostly-filled room at an industry campaign event to raise their hands if they were visiting from another state. More than half the people in the room raised their hands. These visitors had…

The Most Influential Folks in Crypto Regulations

[Dec 6, 2023 12:15 AM] CoinDesk published its annual Most Influential list (it's not a ranking, except for the top 10 being maybe more influential than the other 40). I wrote a few pieces (I had nothing to do with the art and didn't know about it when I wrote the…

Binance's Future and Other Questions Post-Settlement

[Nov 28, 2023 10:45 PM] Binance is paying literally billions of dollars and giving the U.S. government unfettered access to its books, while its founder and former CEO Changpeng Zhao is looking at maybe a year and a half in federal prison. But Binance the exchange is…

Binance's Busy Day, Kraken's Second SEC Fight

[Nov 21, 2023 7:30 PM] Binance is paying one of the largest fines in corporate history to the U.S. Department of Justice, while its founder and CEO, Changpeng "CZ" Zhao, stepped down from his role running the platform as part of a settlement with multiple federal…

Delaware, We Need to Talk

[Nov 14, 2023 12:30 PM] Some sectors of the crypto industry were excited (and/or confused) by an apparent BlackRock XRP Trust filing in the state of Delaware, suggesting the massive asset manager may try to launch an XRP exchange-traded fund (ETF) after applying to launch…

The Crypto Industry Responded to the IRS Proposed Broker Rule

[Nov 7, 2023 11:30 AM] The U.S. Treasury Department and IRS are poised to bring fresh crypto tax reporting rules into effect. The crypto industry largely seems opposed – the majority of comments I read urged caution or raised concerns about the proposal as written while…

Sam Bankman-Fried Needs Better Answers on the Stand

[Oct 31, 2023 7:30 AM] There was a moment on Monday where an assistant U.S. attorney needed to ask FTX founder Sam Bankman-Fried if he was the chairman and sole board member of Alameda Research, while showing him a document that he signed, which literally identified him…

Catching Up on a Lot of Stuff

[Oct 25, 2023 9:00 PM] I poked my head out of the Sam Bankman-Fried trial just long enough for my entire panel of House lawmakers at CoinDesk's policy event in Washington, D.C. to cancel, leading to a very impromptu session instead. Unfortunately that's not enough time…

What’s Holding Crypto Back? It’s the Founders, Not Just Regulators

[Oct 17, 2023 8:19 AM]

The Sam Bankman-Fried Trial Is Revealing Crypto's Amateur-Hour Ways

[Oct 17, 2023 7:30 AM] Paradigm, BlockFi, Genesis and other companies did not have access to audited financial statements prior to investing or loaning billions to FTX, FTX.US. and Alameda Research, according to testimonies given in the trial of Sam Bankman-Fried…

Key Points From the Sam Bankman-Fried Trial's First Week

[Oct 10, 2023 7:30 AM] It’s been less than a week since the federal government’s trial against FTX’s Sam Bankman-Fried began, but we’ve already heard from an FTX co-founder, a former developer, a customer and an investor.