Politics, Legal & Regulation

January 2, 2023 @ 8:47 pm By Omar Faridi  |  

Recently, Paxos, the regulated blockchain and tokenization infrastructure platform, submitted recommendations to the Financial Stability Board (FSB) on how best “to safely oversee a global, fiat-backed stablecoin and its issuer.” Paxos welcomed the opportunity “to provide comments to the Financial Stability Board and agreed with… Read More

January 2, 2023 @ 8:49 am By Omar Faridi  |  

In 2022, several notable federal indictments, sentences, and seizures related to cryptocurrency were “made public in the United States,” the CertiK team noted. To understand the extent and nature of government activity in Web3, CertiK has conducted research and analysis “on the state of federal… Read More

January 2, 2023 @ 8:40 am By Omar Faridi  |  

Circle has submitted comments to the Financial Stability Board’s (FSB) proposed framework for the international regulation of crypto-asset activities and the regulation and supervision of “Global Stablecoin” Arrangements. Circle appreciates the critical role that the FSB plays in “promoting international financial stability, particularly in developing… Read More

December 31, 2022 @ 11:20 am By Omar Faridi  |  

China’s securities regulator stated on Friday (December 29, 2022) that online brokerage platforms Futu Holding and UP Fintech Holding have allegedly carried out unlawful securities businesses/transactions, and will now be banned from opening new accounts from mainland China investors. The penalty comes after over a… Read More

December 30, 2022 @ 11:00 am By Omar Faridi  |  

In 2022, Binance claims it ramped up its regulatory compliance and user protection initiatives. By working collaboratively with regulators worldwide, Binance reveals it has “secured registrations and licenses in 14 jurisdictions as of the end of 2022.” To further reinforce their commitment to fight against… Read More

December 30, 2022 @ 9:15 am By JD Alois  |  

  The Securities Commission of The Bahamas has announced that it took $3.5 billion in crypto from FTX for safekeeping, according to a statement distributed by the Commission yesterday (December 29, 2022). The Commission stated that based on information provided by former FTX CEO Sam… Read More

December 28, 2022 @ 9:59 am By JD Alois  |  

American CryptoFed DAO, LLC’s forthcoming administrative hearing, as demanded by the Securities and Exchange Commission (SEC), is scheduled to take place on January 18, 2023. The Hearing Day 4 is labeled as public on the SEC’s event page. It was previously reported that hearings were… Read More

December 27, 2022 @ 10:23 am By JD Alois  |  

The Autorité des Marchés Financiers (AMF) in France has posted an update on the number of bogus websites attempting to solicit investors with sketchy offerings.  The AMF reports that since the beginning of 2021, 20 websites have been added to the list while cautioning the… Read More

December 26, 2022 @ 8:34 am By Omar Faridi  |  

A joint research effort between the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology into the technical feasibility of a potential central bank digital currency “is now complete.” The Boston Fed’s work on CBDC with MIT’s Digital Currency Initiative is known as… Read More

December 23, 2022 @ 6:12 pm By JD Alois  |  

Former CEO of Alameda Research Carolyn Ellison has apologized for her misdeeds pertaining to the collapse of FTX as well as Alameda. Gary Wang, FTX co-founder and former CTO, has also acknowledged his errors, according to multiple reports. Both Ellison and Wang have pleaded guilty… Read More

December 23, 2022 @ 10:22 am By JD Alois  |  

Yesterday, the Brazilian President signed into law a framework for regulated crypto. Law 14,478/22 determines the guidelines for regulating the provision of virtual asset services. Digital assets deemed to be securities will be regulated by the Brazilian Securities and Exchange Commission. Another entity will regulate… Read More

December 22, 2022 @ 11:27 pm By Omar Faridi  |  

2022 has been a “meaningful” year for Coinbase’s (NASDAQ:COIN) international expansion, and before they draw it to a close, they want to share some additional updates. Coinbase has been “granted approval by the Central Bank of Ireland to operate as a Virtual Asset Service Provider… Read More

December 22, 2022 @ 2:54 pm By Omar Faridi  |  

Following the news that British lender TSB Bank was fined $48.65m ($59.07m) by the Financial Conduct Authority and the Prudential Regulation Authority over “a botched IT platform migration that left two million customers locked out of their accounts in 2018,” Chris Dinga, Payments Analyst at… Read More

December 22, 2022 @ 2:30 pm By JD Alois  |  

Sam Bankman-Fried, extradited to the US last night, will be released on $250 million, according to multiple reports. The former FTX CEO will be restricted to his parents’ home as part of the deal. Charges against Bankman-Fried were revealed last week. The indictment claims that… Read More

December 22, 2022 @ 10:38 am By JD Alois  |  

Retiring Senator Pat Toomey has introduced his stablecoin legislation just prior to his exit from the Senate and his ranking position on the Senate Banking Committee. Toomey is currently one of the most effective and knowledgeable policymakers engaged in financial services legislation, and his presence… Read More

December 21, 2022 @ 11:54 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has joined both the SEC and US Department of Justice in filing fraud charges against Caroline Ellison, former Alameda CEO, and Gary Wang, FTX co-founder and former CTO. The CFTC initially filed the fraud action on December 13 against… Read More

December 21, 2022 @ 11:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against former Alameda Research CEO Caroline Ellison and FTX co-founder and former CTO Gary Wang. The enforcement action was due to the pair’s role in the failure of FTX and their roles in a “multiyear scheme to… Read More

December 21, 2022 @ 11:26 pm By JD Alois  |  

U.S. Attorney Damian Williams has announced additional charges in the ongoing criminal case against FTX. According to a Tweet, the US District Court, Southern District New York, has filed charges against former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang. Williams said the charges… Read More

December 21, 2022 @ 5:53 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Thor Technologies, Inc., David Chin, and Matthew Moravec with conducting an unregistered securities offering. Chin is a co-founder and CEO of Thor, and Moravec is a co-founder and former CTO. According to the SEC, in 2018, the… Read More

December 21, 2022 @ 12:03 pm By Omar Faridi  |  

The team at Binance is pleased to announce that they have joined the Chamber of Digital Commerce, a blockchain and cryptocurrency trade association. Binance has joined the Chamber’s Executive Committee in order “to move the blockchain industry forward alongside other industry players.” Binance VP of… Read More