Regulation Financial News

03.10 / 06:49

business regulation Banks Federal Reserve banking Silvergate Fed inspector blames crypto focus, nepotism for Silvergate Bank collapse

Crypto-friendly Silvergate Bank ultimately collapsed this year due to over-dependence on risky crypto deposits and nepotism that led to ineffective management, according to inspectors at the Federal Reserve.

03.10 / 06:49

regulation Bankruptcy end court approval Customers Celsius seeks court approval to start repaying customers by year-end

Embattled crypto lender Celsius Network has told a judge it plans to start paying back its customers by year’s end, amid an Oct. 2 hearing seeking approval for its reorganization plan.

02.10 / 22:27

business Ethereum ETF regulation Futures Volatility Shares cancels ETH futures ETF launch, ‘didn’t see the opportunity at this point in time’

Volatility Shares, a financial firm offering a range of exchange-traded fund (ETF) products, canceled its plans to launch an Ether (ETH) futures ETF on Oct. 2, citing changes in the market.

02.10 / 22:27

Law regulation Investments Court Terra Investors drop class-action lawsuit against Terraform Labs and Do Kwon

A group of investors behind a class-action lawsuit against Terraform Labs and its co-founder Do Kwon over fraud allegations have dropped the case.

02.10 / 22:27

Binance regulation Banks FTX Court FTX Token Class-action suit filed against Binance for alleged harm to FTX before its collapse

A class-action suit was filed against Binance.US and Binance CEO Changpeng Zhao on Oct. 2 in the District Court of Northern California alleging various violations of federal and California law on unfair competition for attempting to monopolize the cryptocurrency market by harming its competitor FTX. The suit was brought by Nir Lahav, who is identified only as a California resident.

02.10 / 19:51

regulation crimes FTX Court Sam Book describes Sam Bankman-Fried with little attention span or respect for appointments

Michael Lewis, author of The Big Short, has painted an interesting picture of Sam Bankman-Fried (SBF) in his soon-to-be released book on the former FTX CEO.

02.10 / 19:51

CFTC regulation Trading SEC Commodities Investment place One-third of all CFTC crypto enforcement actions took place this year: Chair Behnam

United States Commodity Futures Trading Commission (CFTC) chair Rostin Behnam highlighted his agency’s activity in the crypto sphere and the need for up-to-date legislation at the Financial Industry Association Expo 2023 event in Chicago. He described the CFTC Enforcement Division’s efforts as a “nonstop drumbeat.”

02.10 / 18:39

Stablecoin regulation Circle Despite Government Shutdown Worries, Stablecoin Legislation Pushed by McHenry

The US House of Representatives’ Financial Services Committee Chair Patrick McHenry on Friday reaffirmed his commitment to regulating stablecoins, despite a potential government shutdown looming at the time.

02.10 / 16:27

regulation Matrix IMF IMF Proposes Crypto Risk Assessment Matrix for Macrofinancial Impact on Countries

The International Monetary Fund (IMF) published a working paper that highlights risk management strategies and policy changes for regulators.

02.10 / 16:03

regulation privacy Africa Worldcoin Parliamentary Committee committee Parliamentary committee calls for shutdown of Worldcoin in Kenya

A parliamentary committee in Kenya’s government tasked with investigating Worldcoin has recommended that regulators shut down the project’s operations in the country.

02.10 / 14:21

regulation financial conduct authority FCA letter FCA raises concerns over platform fees in Dear CEO letter

The FCA said that fees and charges may not represent fair value, especially when looking at customers with different size investment pots.

02.10 / 13:25

Ethereum Adoption regulation SEC Ether price Grayscale spot ETF Grayscale submits SEC filing to convert Ethereum Trust to spot ETF

Following the approval of the first Ether (ETH) futures exchange-traded fund (ETF), Grayscale Investments is looking to convert its Grayscale Ethereum Trust to a spot Ether exchange-traded fund (ETF).

02.10 / 11:49

Blockchain regulation Department Of Justice Court Trial Bitcoin Sam Sam Bankman-Fried FTX trial — five things you need to know

Sam Bankman-Fried will face his first day in court over a litany of charges less than a year after the calamitous collapse of cryptocurrency exchange FTX.

02.10 / 11:49

Adoption regulation IMF IMF working paper proposes country-level assessment matrix for crypto risks

A working paper published by the International Monetary Fund (IMF) proposed a count vulnerabilities and potential policy responses for the crypto sector.

02.10 / 10:19

regulation coinbase Bitcoin Coinbase crypto exchange obtains payment license in Singapore

United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore after securing major regulatory approval from the country’s central bank.

02.10 / 08:12

regulation ICO Bank of England financial conduct authority FCA found to have breached GDPR rules - reports

The policy was signed off in 2016 by the office of then CEO and current governor of the Bank of England, Andrew Bailey.

02.10 / 05:53

business Law regulation FTX Court Bankruptcy Effective altruism fueled SBF’s ‘ridiculous’ actions at FTX: Ex-Alameda engineer

Effective altruism was used to justify “increasingly risky and ridiculous” actions at crypto exchange FTX prior to its ultimate collapse in November 2022, says a former software engineer at Alameda Research.

02.10 / 05:53

regulation FTX Trial NOT FTX founder mulled giving Trump $5B not to run for president, says author

Former FTX CEO Sam Bankman-Fried once looked into paying Donald Trump not to run for United States president, according to Michael Lewis, the author of a new book documenting the rise and fall of SBF.

01.10 / 16:23

regulation Shuts Down Us government shutdown Congress Passes Funding Bill to Avoid US Government Shutdown

The United States Senate passed a bipartisan bill on Saturday evening, just three hours before the midnight deadline, to prevent a government shutdown.

01.10 / 07:35

Law regulation Fraud FTX DOJ readies witnesses in Bankman-Fried trial, spotlight on FTX assets

The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company.

01.10 / 03:29

Law regulation FTX Court SEC initiates legal action against FTX's auditor

The United States Securities and Exchange Commission (SEC) has commenced legal proceedings against an accounting firm that had provided services to cryptocurrency exchange FTX prior to its bankruptcy declaration.

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