Regulation Financial News

17.12 / 08:17

business regulation Democrats to reportedly return over $1M of SBF's funding to FTX victims

Following the arrest of former FTX CEO Sam Bankman-Fried (SBF), three prominent Democratic groups have reportedly decided to return over $1 million to investors that lost their funds due to misappropriation.

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 / 23:25

Adoption regulation DEX Liquidity Industry execs confident in DeFi adoption despite security flaws: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

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 / 17:41

regulation Investments Bitcoin foreign Only for foreign trade: Bank of Russia stands against free crypto investment

The Russian central bank is ready to consider allowing cryptocurrency use within the country but only as part of a legal experiment, governor Elvira Nabiullina said.

16.12 / 13:03

regulation FTX Crypto Companies Crypto Companies Enable Money Laundering, Warns Incoming FCA chair – Regulation Coming Soon?

Ashley Alder, the incoming chair of the UK’s Financial Conduct Authority (FCA), believes crypto firms are “deliberately evasive” and facilitate money laundering, asking for more regulations.

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 / 09:07

Government regulation Taxes Japan set to ease 30% crypto tax on paper profits for token issuers

The Japanese government is set to ease tax requirements for local crypto firms, as it pushes to stimulate growth in the domestic finance and tech sectors.

16.12 / 09:07

regulation Trading Scams Charges laid over alleged ‘crypto mining’ Ponzis that netted $8.4M

United States prosecutors have laid charges in two separate cases against nine people who founded or promoted a pair of cryptocurrency companies alleged to be Ponzi schemes that netted $8.4 million from investors.

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 / 02:15

VISA regulation emi Crypto.com continues its worldwide registration push with Brazilian EMI license

Crypto.com has received a Payment Institution License (EMI) from Banco Central do Brasil, the central bank of Brazil. The license will allow it to “continue offering regulated fiat wallet services for customers in Brazil,” according to an announcement on the company’s website. Crypto.com has offered a Visa card in Brazil for purchases in cryptocurrency or fiat since last year.

16.12 / 01:43

Blockchain Stablecoin Digital regulation Researchers use zero-knowledge to address privacy, AML concerns in stablecoins

Researchers from German crypto blockchain-based payments fintech etonec and other organizations have proposed using zero-knowledge proofs to ensure regulatory compliance and privacy in stablecoins. They have created a design that allows fiat-based stablecoins to be used like cash, within limits.

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.

15.12 / 23:39

regulation Banks BItlicense guidance New York State issues guidance for banks seeking to engage in activities with crypto

The New York state Department of Financial Services (DFS) released guidance on Dec. 15 for regulated banks seeking to engage in activities with virtual currency. The guidance, which took effect immediately, describes the application process and “summarizes the types of information the Department considers relevant” for obtaining the agency’s approval.

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 / 15:25

regulation Money laundering AIM Senator Warren Takes Aim at 'Rogue Nations' Using Crypto for Terrorism and Sanction Evasion

Senator Elizabeth Warren has put forward a bipartisan bill that aims to crack down on money laundering loopholes in the crypto industry.

15.12 / 13:55

regulation Europe MICA France may oblige crypto platforms to obtain licenses

Following the global trend of tightening the crypto regulation in the aftermath of recent market failures, France may reassess its eased regime of licensing for digital asset providers. That would challenge the nation’s efforts to present itself as one of the most pro-crypto countries in Europe.

15.12 / 13:13

regulation G20 G20 Governments Working Together to Develop a Unified Cryptocurrency Policy

The G20 countries plan to create a policy consensus on cryptocurrencies in a bid to better regulate the asset class.

15.12 / 12:41

Adoption regulation FCA’s incoming chair calls for further crypto regulation

The Financial Conduct Authority’s (FCA) recently appointed chair has presented an unfriendly attitude toward cryptocurrencies in a cross-party Treasury select committee meeting.

15.12 / 09:17

business Ethereum regulation Bitcoin Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO

Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11.

15.12 / 07:23

regulation Fraud Police Court Fried Sam co-CEO FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-Fried

According to Bahamian court records filed on Dec. 14, Ryan Salame, the former co-CEO of FTX Digital Markets told the Securities Commission of the Bahamas (SCB) on Nov. 9 that FTX was sending customer funds to its sister trading firm Alameda Research.

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