Law Financial News

20.12 / 00:55

Government Law Congress regulatory Crypto’s regulatory fate will be decided in the year ahead

It would be ideal for the industry for Congress to weigh in on its fate rather than leaving it to unelected regulators at the Securities and Exchange Commission (SEC). To that end, representatives from both sides of the aisle have introduced bills designed to offer “regulatory clarity.” The moderate position seems to favor placing crypto mostly under the jurisdiction of the Commodity Futures Trading Commission (CFTC).

19.12 / 20:57

Law regulation FTX Fried Sam Extradition Sam Bankman-Fried wants to see indictment before extradition to US: Report

Former FTX chief executive officer Sam Bankman-Fried, who is currently facing multiple charges related to wire fraud and securities fraud, reportedly said he wanted to see the indictment against him before agreeing to extradition to the United States.

17.12 / 02:35

business Government Law IRS The outcome of SBF's prosecution could determine how the IRS treats your FTX losses

FTX founder Sam Bankman-Fried has received official criminal charges after the collapse of his cryptocurrency exchange, which is more than just a moral victory for the exchange’s roughly 1 million individual investors. While not locked in yet, things appear to be on track for these investors to take a more favorable tax position as SBF’s fate continues to unravel.

17.12 / 00:05

Law regulation Congress financial stability Financial US Financial Stability Oversight Council urges congressional action on crypto

Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation aimed at addressing regulatory gaps for crypto-related activities.

16.12 / 20:45

Law regulation Caribbean Bankruptcy Cooperation FTX liquidators’ legal team urges cooperation with Bahamian authorities amid favoritism allegations

A lawyer representing provisional liquidators overseeing FTX’s operations in the Bahamas has pushed back against allegations officials in the country were using the collapse of the crypto exchange to benefit its residents first.

16.12 / 11:51

business Law regulation FTX Silvergate faces class-action lawsuit over FTX and Alameda dealings

A class-action lawsuit against Silvergate Bank, Silvergate Capital Corporation and Silvergate CEO Alan Lane was filed at the California Southern District Court concerning accounts held by embattled crypto companies FTX and Alameda Research.

16.12 / 07:05

Law regulation FTX Court bail the bahamas SBF reportedly files new bail application in the Bahamas Supreme Court

Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX has reportedly filed a new application for bail in the Bahamas Supreme Court following his previous unsuccessful bail bid.

16.12 / 05:29

Law Stablecoin Court Australian Finder.com sued by Australian regulator over its crypto yield product

Financial product comparison website Finder.com is being sued by Australia’s financial services regulator for allegedly offering a cryptocurrency yield-bearing product without the required license.

16.12 / 01:29

Law regulation Central Bank services NOT dutch Dutch central bank says KuCoin is not licensed and 'illegally offering services'

The central bank of the Netherlands, De Nederlandsche Bank, has issued a warning to investors in KuCoin, saying the exchange was operating without legal registration.

16.12 / 00:43

business Law FTX Bankruptcy play SBF's legal battle still has "a lot to play out," according to legal commentators

Sam Bankman-Fried, former FTX CEO, faces eight accusations and could get 115 years in jail, but there is a "lot to play out" until he gets a final sentence over the coming months or even years, legal commentators told Cointelegraph.

15.12 / 22:01

Law regulation Bankruptcy committee US Trustee names Wintermute on creditor committee in FTX bankruptcy case

A United States Trustee has announced nine creditors to the committee responsible for part of crypto exchange FTX’s bankruptcy proceedings.

15.12 / 01:19

Law regulation FTX Caribbean Prison SBF’s Bahamian prison reported for 'harsh' conditions and 'degrading treatment' — US State Dept

After being denied bail in a Bahamas Magistrate Court, former FTX CEO Sam Bankman-Fried could spend up to two months in the country’s Fox Hill Prison, a facility with reported cases of physical abuse against prisoners and “harsh” conditions.

15.12 / 00:03

Law regulation Congress hearing Senate FTX hearing: calls for regulation and crypto criticisms aplenty

United States lawmakers with the Senate Banking Committee had their share of crypto proponents and skeptics in a hearing exploring the collapse of the FTX exchange.

14.12 / 23:11

Law regulation AML Sens. Warren and Marshall introduce new money-laundering legislation for crypto

As the cryptoworld focused on the drama unfolding around FTX, United States Sen. Elizabeth Warren and Sen. Roger Marshall introduced the “Digital Asset Anti-Money Laundering Act of 2022” on Dec. 14. The seven-page bill would expand the classification of money service business (MSB), prohibit financial institutions from using technology such as digital asset mixers and regulate digital asset kiosks, otherwise known as automated teller machines (ATMs).

14.12 / 23:11

Government Law Gaming Prison Anonymous crypto developers belong in prison — and will be there soon

In the months following the announcement of my company’s first experimental title, Cyberstella, visits to my personal LinkedIn profile increased by an astonishing 300%. What does this tell us about the rising trend of anonymous developers popping up in every Web3 community to spam users with investment opportunities and then disappear from the face of the Earth?

14.12 / 17:51

business Law Adoption NOT Will FTX’s ill wind reach the Global South? Maybe not

With the crypto world still reeling from the FTX collapse, Brazil recently passed legislation that legalized cryptocurrency use for payments in the country. How to reconcile this with all those declarations in the West that crypto is having its “Lehman moment”?

14.12 / 00:11

Law regulation Fraud FTX 'You can commit fraud in shorts and T-shirts in the sun,' says SDNY attorney on SBF indictment

Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests.

13.12 / 18:17

Law CFTC regulation FTX Fried Sam CFTC files lawsuit against Sam Bankman-Fried, FTX, and Alameda for fraud

The United States Commodity Futures Trading Commission, or CFTC, has filed a lawsuit against Sam Bankman-Fried, FTX and Alameda Research, claiming violations of the Commodity Exchange Act and demanding a jury trial.

13.12 / 16:53

business Law Court Bahamas reportedly asked SBF to mint new coin after FTX collapse

The Bahamas government reportedly worked with former FTX CEO Sam Bankman-Fried to issue a new cryptocurrency controlled by local officials.

13.12 / 14:57

Law ETF SEC security Grayscale Bitcoin ETF SEC looks to intercept Grayscale Bitcoin ETF review bid

The United States Securities and Exchange Commission (SEC) is taking further steps to stop Grayscale Investments’ efforts to launch a Bitcoin (BTC) exchange-traded fund (ETF). Grayscale began its legal challenge of the SEC’s denial order of the proposed investment product in June 2022.

13.12 / 12:13

Law regulation reports FSB to lay out global standards for crypto regulation: Reports

The FTX collapse spurred action from a global financial watchdog to give recommendations to regulate the crypto industry early in 2023.

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