Regulation Financial News

22.11 / 13:45

CBDC regulation RBI retail CBDC Reserve The Reserve Bank of India to launch a retail CBDC pilot in December

Having tested the wholesale usage of its central bank digital currency (CBDC), the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.” The pilot should launch within a month.

22.11 / 11:07

Ethereum regulation Investments Bitcoin the bahamas SBF, FTX execs reportedly spend millions on properties in the Bahamas

The latest revelation from the FTX case reveals that Bahamian properties worth millions were bought in the company name. FTX, at the time operated by Sam Bankman-Fried (SBF), his parents and other high-level executives of the company, reportedly purchased at least 19 properties in the Bahamas over the last two years.

22.11 / 01:43

Digital regulation Nov banking committee compliance Senate Banking Committee Democrats warn SoFi about meeting its compliance deadline

Chairman of the United States Senate Banking Committee Sherrod Brown and three other Democratic committee members sent letters Nov. 21 to federal officials and to Anthony Noto, president of SoFi Technology. They expressed concern about the online bank’s efforts to conform to Federal Reserve Board requirements and nonbank digital asset trading activities conducted through SoFi Digital Assets.

22.11 / 01:05

regulation FTX Bank of England BOE’s Cunliffe says regulation can save crypto from itself, and it’s worth the effort

Bank of England Deputy Governor Sir Jon Cunliffe shared thoughts on cryptocurrency regulation and decentralized finance (DeFi) in a talk on Nov. 21. He intended to speak about stablecoins and central bank digital currency (CBDC), Cunliffe said at a conference in Coventry, but the collapse of FTX as he wrote his draft speech led him to some more general observations as well.

22.11 / 01:05

CFTC regulation Senate hearing committee US Senate committee schedules FTX hearing for Dec. 1, CFTC head to testify

The United States Senate Agriculture Committee has announced that Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam will be one of the witnesses in a hearing exploring the collapse of crypto exchange FTX.

21.11 / 23:19

CBDC regulation Fried Sam The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21

As much as we all would want last week to be about something else, it was still all about FTX. The Supreme Court of the Bahamas has approved two provisional liquidators from PricewaterhouseCoopers to oversee the assets of the crypto exchange, which is headquartered in the country. Several days later, The Securities Commission of the Bahamas ordered the transfer of FTX Digital Markets’ digital assets to a digital wallet owned by the commission to protect “the interests of clients and creditors.”

21.11 / 22:07

regulation Africa Taxes Kenyan legislation establishes crypto taxation, creates consumer protections

An amendment was introduced to the Kenyan law in capital markets on Nov. 21 that would require those who own or deal in cryptocurrencies to provide the country’s Capital Markets Authority with information on their activities for tax purposes, local media report. This is the first time Kenya has extended financial regulation to cryptocurrency.

21.11 / 13:43

business Government regulation US court Celsius bankruptcy Celsius bankruptcy victims get proof-of-claim deadline from US court

The ongoing case of the Celsius bankruptcy continues as the United States Bankruptcy Court in the southern district of New York State approved a new filing deadline.

21.11 / 07:13

business Blockchain regulation Bankruptcy accounting Celsius had 'insufficient' accounting and operational controls, says examiner

The independent examiner in crypto lender Celsius’ bankruptcy case has alleged that the company failed to set up “sufficient” accounting and operational controls in its handling of customer funds.

20.11 / 14:51

business regulation South Korea investigates crypto exchanges for listing native tokens

Native cryptocurrencies turned out to be the biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea's financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe into crypto exchanges in relation to listing their in-house, self-issued tokens.

20.11 / 11:03

business regulation Fraud Bankruptcy Bankrupt crypto Bankrupt crypto exchange FTX begins strategic review of global assets

As part of the recent bankruptcy filing, the defunct crypto exchange FTX, along with 101 of the 130 affiliated companies, announced the launch of a strategic review of their global assets. The review is an attempt to maximize recoverable value for stakeholders.

19.11 / 23:27

Law regulation Banks FTX illustrated why banks need to take over cryptocurrency

FTX — the three letters on everyone’s lips in recent days. For those active in the crypto space, it has been a shattering blow as a tumultuous year for crypto nears an end.

19.11 / 20:33

regulation FTX Police Phishing scams Singapore police warn investors against FTX phishing scams: Report

The Singapore Police Force has warned investors to be weary of fake websites claiming they can help them recover funds from the now-bankrupt cryptocurrency exchange FTX.

19.11 / 20:33

Blockchain regulation Miami's next big Web3 summit announces packed agenda featuring high-profile speakers

The leading institutional Web3 summit will kick off in Miami soon — and has attracted high-profile speakers from across TradFi and Web3.

19.11 / 08:05

business regulation Court investigation Terraform Labs South Korea seizes $104M from Terra co-founder suspecting unfair profits

While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits.

19.11 / 00:33

regulation FTX FTX collapse could trigger ‘appetite' for harsher regulation, says Andrew Yang

Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang said isn’t conducive to making America a hotbed for blockchain innovation.

18.11 / 23:53

CFTC regulation SEC Time CFTC Commissioner Mersinger says the time has come for action on crypto regulation

United States Commodity Futures Trading Commission (CFTC) commissioner Summer Mersinger suggested that the time to act on cryptocurrency regulation may have arrived. Speaking at the Texas Blockchain Summit on Nov. 18, Mersinger considered what it may take for effective crypto regulation in the United States.

18.11 / 20:59

Mining regulation Russian bill would legalize crypto mining, sales under ‘experimental legal regime’

A bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 that would legalize cryptocurrency mining and the sale of the cryptocurrency mined. Cryptocurrency cannot currently be used for settlements in Russia.

18.11 / 13:59

Blockchain regulation us government advertisement FINRA FTX meltdown triggers FINRA into probing crypto comms

The Financial Industry Regulatory Authority (FINRA), the American self-regulatory organization, has launched an examination into the firm’s retail communications concerning crypto products and services offered by them.

18.11 / 07:17

business Government Blockchain regulation Bahamian securities regulator ordered the transfer of FTX’s digital assets

The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov. 12.

18.11 / 07:17

business Facebook regulation Apple FTX names Kroll as claims agent, to update users on bankruptcy developments

Bankrupt crypto exchange FTX has appointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure interested parties are notified of developments throughout its Chapter 11 bankruptcy case.

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