Regulation Financial News

15.12 / 06:51

regulation us government FTX Senate Rep. Tom Emmer mulls bringing back bill aimed at reducing crypto red tape

Crypto-friendly Congressman Tom Emmer is considering re-floating a bipartisan bill that would lift the requirement for certain crypto businesses and projects to register as Virtual Asset Service Providers (VASPs) in the wake of the FTX collapse.

15.12 / 01:19

Provident regulation Platform OECD New OECD report takes lessons from crypto winter, faults ‘financial engineering’

The Organisation for Economic Cooperation and Development (OECD) analyzed the crypto winter in a new policy paper titled “Lessons from the crypto winter: DeFi versus CeFi” released Dec. 14. The authors examined the impact of the crypto winter on retail investors and the role of “financial engineering” in the industry’s current problems and found a lot not to like.

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 / 01:19

business Binance regulation Senate Binance 'put FTX out of business' — Kevin O'Leary

The collapse of FTX was triggered by Binance, claimed investor Kevin O'Leary on Dec. 14 speaking at the United States Senate committee hearing about the crypto exchange meltdown. O'Leary, who was a paid spokesperson for FTX, provided details about conversations with Sam Bankman-Fried in the days before FTX filed for bankruptcy.

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 / 15:47

CFTC regulation Court U.S. Alameda had ‘unfair’ trading advantage, special access to FTX funds: CFTC filing

Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an “unfair” trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange.

14.12 / 13:59

NFT regulation Apple Apple to Allow External App Stores in Major Overhaul Prompted by EU Regulations – NFT Boom Incoming?

Tech giant Applewill reportedly allow iPhone and iPad users to install non-App Store apps next year, in its effort to comply with the incoming strict European Union requirements.

14.12 / 11:55

CFTC regulation SEC Bahamian securities regulator slams new FTX CEO over 'misstatements'

The Securities Commission of Bahamas has slammed the current CEO of bankrupt crypto exchange FTX John J. Ray III for his statements regarding the ongoing investigation into FTX.

14.12 / 09:07

Government Stablecoin regulation consultation Australian Australian 'token mapping' consultation paper to release in early 2023: Treasurer

Australian Treasurer Jim Chalmers has revealed that the government will release a consultation paper in early 2023 as part of its token mapping initiative.

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 / 22:05

regulation FTX Court Financial Indictment against SBF unsealed, contains 8 counts of financial and elections fraud

The indictment against Sam Bankman-Fried (SBF) was unsealed Dec. 13. The indictment, signed by U.S. Attorney for the Southern District of New York Damian Williams, is 14 pages long and containe eight counts.

13.12 / 20:51

regulation FTX Congress lawmakers hearing US lawmakers FTX hearing: US lawmakers criticize use of Quickbooks, creepy dough, and 'conscientious stupidity'

Though Sam Bankman-Fried could not attend the congressional hearing virtually due to his recent arrest in the Bahamas, United States lawmakers held no punches criticizing the former FTX CEO and business practices at the firm.

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 / 17:39

business regulation Trading Canada bans crypto leverage and margin trading after FTX collapse

Authorities in Canada are taking measures to better protect Canadian cryptocurrency investors in the aftermath of the FTX collapse and the spreading contagion.

13.12 / 14:57

regulation SEC Sec Charges SEC charges FTX CEO SBF for defrauding investors a day after his arrest

The United States Securities and Exchange Commission (SEC) has filed charges against Sam Bankman-Fried, the former CEO of now-bankrupt crypto exchange FTX.

13.12 / 14:57

regulation Congress Bankruptcy SBF planned to blame everyone but himself, shows leaked Congress testimony

Former FTX CEO Sam Bankman-Fried, also known as SBF, was arrested on Dec 12, a day before he was set to testify before Congress remotely. A copy of his testimony, obtained by Forbes, highlights that the disgraced CEO planned to blame the spectral downfall of his $32 billion empire on everyone but himself.

13.12 / 12:13

regulation SEC Thai SEC to tighten up rules for crypto, focus on investor protection

Thailand joins the growing list of countries that are seeking to revise their crypto regulation in the aftermath of the FTX collapse. And, as most of these countries do, it intends to tighten the guidelines for the industry and focus on investor protection.

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.

13.12 / 09:15

business regulation Senate Retirement Sen. Lummis still 'very comfortable' with Bitcoin in retirement plans

Pro-crypto United States senator Cynthia Lummis has remained steadfast in her support for Bitcoin (BTC) as part of diversified retirement plans, despite calls from her senator peers otherwise.

13.12 / 09:15

regulation SEC Court It's stacking up: SEC to file separate charges against FTX's SBF

The worst isn’t yet over for the disgraced founder of crypto exchange FTX, Sam Bankman-Fried.

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