Regulation Financial News

22.12 / 06:25

regulation FTX Breaking: Caroline Ellison and Gary Wang plead guilty to fraud charges

Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges and are cooperating with prosecutors as part of the criminal case against the former CEO of FTX, Sam Bankman-Fried.

22.12 / 05:23

regulation Central Bank Financial Crypto could spark the next financial crisis, says India’s RBI head

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, did not mince his words when discussing the crypto sector at a recent conference, asserting that “private” crypto will be behind the next financial crisis.

22.12 / 00:31

regulation SEC ICO SEC files unregistered securities charges against Thor Token creators for 2018 ICO

The United States Securities and Exchange Commission (SEC) filed a complaint against Thor Technologies and its cofounder and CEO David Chin in U.S. District Court in San Francisco on Dec. 21. The SEC claimed that Thor’s 2018 initial coin offering (ICO) constituted an unregistered securities sale under the Securities Act of 1933.

21.12 / 21:15

business regulation coinbase VASP Coinbase secures VASP registration in Ireland

Crypto exchange Coinbase was granted permission by the Central Bank of Ireland to act as a virtual asset service provider (VASP), according to a Dec. 21 announcement. The company’s operations in the country will be overseen by Cormac Dinan, a former employee of Crypto.com, Deloitte and Citigroup.

21.12 / 21:15

Law regulation FTX Fried Sam Extradition Sam Bankman-Fried is one step closer to US extradition: Report

Former FTX CEO Sam Bankman-Fried, who has been in the custody of Bahamian authorities, faces extradition to the United States following a hearing.

21.12 / 18:07

regulation sanctions corruption lawmaker Opposition press links Russian lawmaker to local crypto OTC

A Russian legislator who was one of the authors of the bill to legalize cryptocurrency mining in the country has been tied to a local over-the-counter (OTC) exchange known as Bankoff.

21.12 / 15:31

regulation Forex Bitcoin Crypto Websites French regulator AMF blacklists only two crypto websites in the whole year

Financial regulators in France continue flagging illicit players on the foreign exchange (forex) and cryptocurrency markets, blacklisting a fresh batch of related websites.

21.12 / 14:31

Adoption regulation Investments Investment manager U.K. includes crypto investments under the Investment Manager Exemption

The transactions of “designated crypto assets” entered into from the tax year 2022 to 2023 onwards will be qualified for the Investment Manager Exemption in the United Kingdom. Certain legislation was announced by the U.K. government back in April and is now executed by the Commissioners for His Majesty’s Revenue and Customs (HMRC).

21.12 / 12:47

Law regulation regulatory Alaska adds 'virtual currency' to its regulatory regime

From Jan. 1, 2023, the term “virtual currency” will take its place in the money transmission regulations of Alaska. It will oblige the companies dealing with digital currencies to obtain a money transmission license in the state.

21.12 / 11:05

business regulation Swyftx regulatory Superhero cans merger with Swyftx citing regulatory scrutiny

With more regulators eyeing the crypto space as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved.

21.12 / 01:49

regulation Charity Donations Who has returned donations or contributions from FTX amid the firm’s reputational risks?

Before its downfall, crypto exchange FTX and its then-CEO Sam Bankman-Fried had been some of the most prolific spenders in the space, bailing out crypto firms and donating to political campaigns and media outlets. With more than 1 million FTX creditors looking to be made whole, what’s happening with these funds?

20.12 / 15:17

Law regulation South Korean court freezes $92M in assets related to Terra tokens

More than six months after the collapse of the Terra ecosystem, South Korean authorities continue to investigate and freeze the funds of persons involved in Terra.

20.12 / 14:07

Binance regulation UK Boris Johnson’s Brother Quits Binance Unit Advisory Role Amid 'Finance Transparency Concerns' and Market Turmoil – Here’s What Happened

Jo Johnson, brother of former British Prime Minister Boris Johnson, resigned from the UK advisory board of Bifinity, a unit of the major crypto exchange Binance.

20.12 / 12:57

Blockchain Binance regulation Busan city drops global crypto exchanges from its digital exchange plans

Busan, the blockchain city of South Korea, has moved a step closer to forming a local crypto exchange, but it has dropped most of the global centralized exchange partners. The drastic decision comes in the wake of the recent colossal failure of centralized exchanges.

20.12 / 02:05

Law regulation FTX Fried Sam Extradition Customers Sam Bankman-Fried agrees to US extradition 'to put the customers right': Report

Former FTX CEO Sam Bankman-Fried, currently in the custody of Bahamian authorities, has reportedly agreed to be extradited to the United States to face charges.

20.12 / 02:05

Stablecoin regulation stablecoin regulation Bank of Canada emphasizes need for stablecoin regulation as legislation is tabled

Staffers at the Bank of Canada released an analytic note on fiat-referenced crypto assets, otherwise known as stablecoins, Dec. 19. In addition to a review of mechanisms for creating and distributing stablecoins and a list of the potential risks and benefits they involve, the note expressed the authors’ support for further regulation of the crypto asset.

20.12 / 00:55

Law regulation Congress committee Next House committee chair reintroduces bill on crypto innovation

North Carolina Representative Patrick McHenry, the current ranking member of the House Financial Services Committee and chair starting in January, has reintroduced legislation aimed at creating innovation offices within government agencies dealing with financial services.

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.

18.12 / 00:53

regulation FTX Bankruptcy Fried Sam Extradition Sam Bankman-Fried seeks to reverse decision on contesting extradition: Report

Sam Bankaman-Fried, former FTX CEO, has reportedly reconsidered his earlier decision to contest extradition and is expected to appear in court in the Bahamas on Dec. 19 to seek a reversal, Reuters reported on Dec. 17 citing a person familiar with the matter.

17.12 / 22:43

regulation SEC FTX Congress SEC was “asleep at the wheel” about FTX - US Rep. Sessions

The Securities and Exchange Commission (SEC) was "asleep at the wheel" regarding how FTX Group and its subsidiaries met financial and corporate control requirements, Representative Pete Sessions said in the Saturday Report on December 17.

17.12 / 19:29

Stablecoin Adoption regulation Central Bank Central Banks to set standards on banks’ crypto exposure - BIS

A global standard for banks' exposure to crypto assets has been endorsed by the Group of Central Bank Governors and Heads of Supervision (GHOS) of the Bank for International Settlements (BIS). The standard, which sets a limit of 2% on crypto reserves among banks, must be implemented on January 1, 2025, according to an official announcement on Dec. 16.

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