Regulation Financial News

26.10 / 12:55

business Blockchain regulation SEC security Bitcoin Gary Gensler teases details of SEC's $5 billion take from enforcement actions, shades crypto

The United States Securities and Exchange Commission (SEC) chief Gary Gensler’s speech before the 2023 Securities Enforcement Forum shed light on the regulatory body’s enforcement actions that led to $5 billion in judgments and orders. However, Gensler’s dig at the cryptocurrency market became a talking point for the crypto community on social media, where Gensler noted, “Don’t get me started on crypto. I won’t even name all the individuals we’ve charged in this highly noncompliant field.”

26.10 / 12:55

Technology Law regulation Meta faces legal scrutiny as AI advancements raise concerns over child safety

A group of 34 United States states are filing a lawsuit against Facebook and Instagram owner Meta, accusing the company of engaging in improper manipulation of minors who use the platforms. This development comes amid rapid artificial intelligence (AI) advancements involving both text and generative AI.

26.10 / 12:55

Law regulation crimes FTX Sam Bankman-Fried’s testimony to challenge government claims, lawyer tells judge

The possible contents of Former FTX CEO Sam Bankman-Fried upcoming testimony have been outlined in a letter to Judge Kaplan by his lawyer, Mark Cohen.

26.10 / 10:37

CBDC Adoption regulation Central Bank Bitcoin Mexican Senator Kempis Faces Opposition Over Bitcoin Bill

Long-time tech and blockchain advocate Mexican Senator Indira Kempis said that her Bitcoin (BTC) bill is seeing more positive attention but is also facing increasing opposition.

26.10 / 08:51

Ripple regulation SEC Pro-Ripple lawyer predicts prolonged legal battle, hints at settlement factors

Pro-Ripple lawyer John Deaton has said he expects a lengthy legal process for the Securities Exchange Commission (SEC) v Ripple case, possibly lasting a year. Deaton suggests that a settlement may only be considered if Coinbase's motion to dismiss (MTD) the SEC's case against it is successful.

26.10 / 02:41

business regulation marketing Crypto firms have already breached new UK promo rules 221 times, says FCA

Crypto-promoting firms have breached the United Kingdom’s new crypto marketing rules at least 221 times since coming into force in early October, says the country’s financial regulator.

26.10 / 02:41

business regulation Senate Crowdfunding Elliptic Bitcoin crypto donations Crypto donations raised by Hamas ‘remain tiny,’ says Elliptic

Blockchain forensic firm Elliptic says there’s “no evidence” that Hamas is receiving a significant volume of cryptocurrency donations to fund its attacks against Israel.

25.10 / 20:27

Government regulation Congress US lawmakers US lawmakers discuss digital assets and the House gets a new Speaker

Members of the United States House of Representatives have chosen Mike Johnson to be the body’s next speaker — the second in line to the U.S. presidency and a very powerful figure in Congress.

25.10 / 19:27

Law regulation crimes Opinion Court Will Sam Bankman-Fried fix his case when he takes the stand?

Sam Bankman-Fried (SBF) had a lot going against him well before the start of his criminal trial: the ire of many in the crypto space, suspicion from United States policymakers, and negative attention from some in the media looking for clickbait angles to associate with the former FTX CEO.

25.10 / 16:47

regulation crypto regulation FCA Financial UK Financial Watchdog Flags “Common” Failures in Crypto Marketing

The Financial Conduct Authority (FCA) has identified some recurring issues in the marketing of cryptoassets following the implementation of new regulations on October 8.

25.10 / 15:05

Law regulation crimes FTX Court Sam Bankman-Fried will testify at criminal trial, say defense lawyers

Former FTX CEO Sam “SBF” Bankman-Fried will testify as part of his defense case, said his attorney Mark Cohen.

25.10 / 12:37

business regulation compliance UK’s FinProm a welcome change, but challenge persists: Transak compliance head

On Oct. 8, the United Kingdom’s Financial Conduct Authority (FCA) imposed new marketing rules compelling cryptocurrency firms to promote their products and services clearly, fairly and transparently.

25.10 / 11:19

CBDC Adoption regulation Europe European Union Euro Bank of Spain Bank of Spain embraces ‘digital euro,’ explains its benefits

Banco de España, Spain’s central bank, has joined a chorus of European banking institutions preparing their customers for the potential benefits of a digital euro. The central bank published a short text on Oct. 19 explaining the nature and uses of the European Union’s potential central bank digital currency (CBDC).

25.10 / 10:03

business Blockchain regulation SEC Bitcoin Regulation Asset management Bitcoin BlackRock fined $2.5M by SEC for incorrect investment disclosure

The United States Securities and Exchange Commission has fined investment adviser BlackRock Advisors $2.5 million, accusing it of failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it managed.

25.10 / 08:41

regulation IRS Taxes IRS extends comments period for new crypto tax rule to mid-November

The United States Internal Revenue Service (IRS) has extended the commentaries period for crypto tax reporting rules proposed in August 2023. The public consultation will last until Nov. 13.

25.10 / 07:47

regulation UK CMS FCA removes cap on bankers' bonuses to mixed reactions

Originally the rules placed limits on bonuses for employees to two times base salary in an attempt by the EU to deter the risky behaviour that led to the 2008 Global Financial Crisis.

25.10 / 06:53

business Law regulation Altcoin SEC coinbase security Coinbase disputes SEC’s crypto authority in final bid to toss regulator’s suit

The United States Securities and Exchange Commission overstepped its authority when it classified Coinbase-listed cryptocurrencies as securities, the exchange has argued in its final bid to dismiss a lawsuit by the securities regulator.

25.10 / 02:11

regulation Analysis Opinion Congress Senate Middle east Elizabeth Warren uses Hamas as her newest scapegoat in war on crypto

Massachusetts Sen. Elizabeth Warren is at it again. With mainstream press outlets including Germany’s Deutsche Welle running sensationalist headlines — “How cryptocurrency fueled Hamas’ terrorist attack” — Warren is using Hamas’ attack on Israel to fuel her own war on cryptocurrency.

25.10 / 02:11

Stablecoin regulation Bitcoin Dollar regulatory Stablecoin market escaping US regulatory oversight: Chainalysis

The United States government may be losing regulatory oversight of the stablecoin market, according to a new report by blockchain research firm Chainalysis.

25.10 / 02:11

Government regulation Congress Pro-crypto lawmaker Tom Emmer ends hours-long speaker campaign: Report

Tom Emmer, the current majority whip and a crypto proponent, has reportedly dropped his bid to become the next speaker of the United States House of Representatives — a position second in line to the U.S. presidency.

25.10 / 02:11

business regulation lending FTX Withdrawals BlockFi emerges from bankruptcy and opens wallet withdrawals

Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an October 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the post stated, adding that Blockfi Interest Account (BIA) and Loan customers will be able to withdraw some assets in early 2024.

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