Regulation Financial News

30.03 / 08:21

defi Hackers regulation security Decentralization KYC NOT DeFi KYC: Not an issue as ‘99% have nothing to hide,’ industry execs say

DeFi execs at a WOW Summit panel argued that implementing “Know Your Customer” (KYC) measures will tackle the “biggest issue” in decentralized finance (DeFi), which is hackers laundering millions of stolen funds into “clean money.”

30.03 / 05:05

CFTC regulation SEC Fair crypto laws ‘possible’ in the US but needs ‘a lot of work’ — Crypto Council advisor

There are still industry executives that remain hopeful the United States will develop laws to treat crypto fairly, however, an advisory to the Crypto Council for Innovation warns it will take “a lot of work.”

30.03 / 04:35

markets Technology regulation SEC SEC's Gensler seeks $2.4B in funding to chase down crypto 'misconduct'

United States Securities and Exchange Commission (SEC) chair Gary Gensler has thrown his support behind President Biden’s request to allocate a record $2.4 billion in funding for the regulator, highlighting the ongoing need to crack down on “misconduct” in the cryptocurrency industry.

30.03 / 02:17

business regulation fees Fraud FTX Insurance Court Lawyers creditors FTX lawyers, creditors slam SBF's petition to get legal fees reimbursed

Sam Bankman Fried’s new petition to have his legal expenses reimbursed has been met with fierce objection from lawyers representing the crypto exchange and its creditors committee.

29.03 / 21:47

regulation Insurance Congress Signature Bank crypto deposits week FDIC plans to return $4B in Signature crypto deposits 'by early next week' — Martin Gruenberg

Martin Gruenberg, chair of the United States Federal Deposit Insurance Corporation, has said the FDIC plans to return roughly $4 billion in deposits connected to Signature Bank’s digital asset banking business by early April.

29.03 / 20:53

regulation Social Media Telecommunications Anti-TikTok RESTRICT Act could be turned against crypto and much else, think tank warns

The RESTRICT Act, a bipartisan bill introduced earlier this month into the United States Senate, could be applied in broad and unexpected ways, including to threaten crypto, should it become law, think tank Coin Center warned in its blog.

29.03 / 19:39

regulation SEC security Beaxy exchange shutters after SEC presses multiple charges against founder, execs

Beaxy suspended operations on March 28 “due to the uncertain regulatory environment surrounding our business,” according to the cryptocurrency exchange’s blog. The suspension came a day before the United States Securities and Exchange Commission (SEC) announced it was charging Beaxy and its executives with failing to register as a national securities exchange, broker and clearing agency.

29.03 / 19:39

Law regulation FTX Fried Sam Sam Bankman-Fried is paying for legal defense using previously gifted funds from Alameda: Report

Former FTX chief executive officer Sam Bankman-Fried, also known as SBF, is reportedly funding the legal team defending him against federal charges with millions of dollars he gifted his father from Alameda Research.

29.03 / 16:47

Law regulation Terra Extradition US and South Korea requested extradition of Terra co-founder Do Kwon — Montenegro justice minister

Authorities from both the United States and South Korea have made efforts to have Terra co-founder Do Kwon extradited to their respective countries following his arrest in Montenegro.

29.03 / 12:39

Stablecoin regulation Banks BitStamp Silvergate Bitcoin Signature Bank Stablecoins are solution to crypto’s banking problem, exec says

The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without the support of banks, one executive believes.

29.03 / 12:25

Blockchain regulation Africa P2P Networks P2P Nigerian crypto investors question central bank's decision to flag p2p users

Nigerian crypto investors using peer-to-peer (P2P) services have expressed concerns about the Central Bank of Nigeria (CBN) flagging their bank accounts. CBN's decision to flag accounts is believed to be in relation to the near $6.3 million (2.9 billion nairas) Flutterwave hack, as the bank accounts have yet-to-be-proven affiliations with the hack.

29.03 / 10:47

Ethereum regulation cryptocurrency investment Bitcoin Regulation Bitcoin Australian Australian senator introduces private bill to expedite crypto regulation

A new bill has been introduced to the Australian Parliament proposing regulations for providing cryptocurrency services in the country.

29.03 / 10:47

business event Stablecoin regulation Circle reserves Circle prefers reserves and payment rails with the Fed, says exec

Circle has been subject to discussion in the crypto industry since the depegging of its stablecoin (USDC) due to the collapse of Silicon Valley Bank (SVB) on March 10. Now that the company cleared its backlogs and USDC regained its 1:1 peg with the United States dollar, it is looking towards the future of both the company and the industry.

29.03 / 10:47

Blockchain CFTC regulation SEC Crypto Policy SEC chief Gary Gensler to face Congress grueling over crypto policy

The United States Securites and Exchange Commission chief Gary Gensler is set to testify before the the House Financial Services Committee for the first time.

29.03 / 08:55

Adoption Digital Currency regulation Europe European Union Euro lawmakers crypto transfers EU lawmakers push for stricter rules on anonymous crypto transfers

European Union lawmakers have adopted new draft legislation that would impose a 1000 euro ($1,083) cap on anonymous crypto asset transfers in a bid to combat money laundering and terrorist financing.

29.03 / 08:29

CBDC Adoption regulation Bank of Russia testing Ruble Russia delays digital ruble launch testing due to lawmaking process

The rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed for an indefinite period. Although all the participants, at least from the banking side, reassure of their readiness to begin the testing.

29.03 / 04:39

business Blockchain Adoption regulation us government identity NOT The government should fear AI, not crypto: Galaxy Digital CEO

Mike Novogratz, the CEO of digital asset investment firm Galaxy Digital told investors he is shocked over the amount of regulatory attention for crypto rather than artificial intelligence (AI), a technology he believes will trigger a “deep fake” identity crisis.

29.03 / 02:15

regulation economy Loans Signature Bank Signature’s crypto clients told to close their accounts by April 5: Report

Signature Bank’s cryptocurrency clients have been reportedly given until April 5 to take their funds out and find another bank, or have their accounts closed by the federal regulator.

28.03 / 21:51

Hackers regulation Money laundering services North Korean hackers using stolen crypto to mine more crypto via cloud services: Report

The North Korean cybercrime operator APT43 is using cloud computing to launder cryptocurrency, a report from cybersecurity service Mandiant has found. According to the researchers, the North Korean group uses “stolen crypto to mine for clean crypto.”

28.03 / 20:43

regulation Banks Federal Reserve banking hearing Crypto-friendly banks mismanaged traditional risks, FDIC head tells Senate hearing

The United States Senate Banking Committee held a hearing March 28 on the regulatory response to recent bank failures. Officials from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and Treasury testified. FDIC chair Martin Gruenberg spoke about the causes of the failures of Silicon Valley Bank (SVB) and Signature Bank, including the role of digital assets, and the agency’s responses to the crisis.

28.03 / 16:43

Binance regulation Market Update Bitcoin Is Binance in hot water? CZ sued by the CFTC — Watch The Market Report

This week on The Market Report, our beloved host, Joe Hall, and insightful expert Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to breakdown everything that is happening between the United States Commodities Futures and Trading Commission, Binance and Changpeng “CZ” Zhao.

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