Regulation

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

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.  The proposed law reads, “Digital currency obtained as a result of mining can be disposed of by

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. The regulatory body, in an official notice, announced that it is launching a targeted exam on firms on how they handled retail communications between July 1 and the end of

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.  In a Nov. 17 statement, the SCB said it exercised its power as a regulator acting under the authority of a Supreme

Members of the United States House Financial Services Committee have scheduled a December hearing aimed at exploring the collapse of crypto exchange FTX and “broader consequences for the digital asset ecosystem.” In a Nov. 16 announcement, the House committee said it expected to hear from individuals and companies involved in the events that led to

The former CEO of FTX Sam Bankman-Fried has expressed deep regret over filing for Chapter 11 bankruptcy last week, calling it his “biggest single fuckup.”  In a wide-ranging interview with VOX which was published on Nov. 16, Bankman-Fried reportedly answered questions on a number of topics such as the Nov. 11 Chapter 11 bankruptcy filing,

California Representative Brad Sherman, who repeatedly called for a ban on U.S. residents buying crypto, accused leaders at several financial agencies of parroting former FTX CEO Sam Bankman-Fried’s ideas on regulating digital assets. In a Nov. 16 hearing before the House Financial Services Committee, Sherman directed his remarks to Federal Reserve vice chair of supervision

The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes.  During her speech under the headline “Digital asset regulation: The state perspective,”

Australia’s financial markets regulator has suspended FTX Australia’s financial license following the appointment of a voluntary administrator to help nearly 30,000 Australians and 132 Australian companies get their funds back from FTX. The announcement was made by the Australian Securities and Investments Commission (ASIC) on Nov. 16 local time, which suspended the Australian Financial Services

Almost 4,000 people have used a CryptoLaw petition app to demand that Congress investigate United States Securities and Exchange Commission head Gary Gensler’s “actions in the FTX fraud,” the organization claimed in a tweet on the morning of Nov. 14.  The CryptoLaw website is run by lawyer John Deaton, who is representing Ripple against the

Last week was tough — the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react. United States Senator Cynthia Lummis, famous for her openly pro-crypto position, promised deliberate with her colleagues on whether

United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term. In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011

Prosecutors with the United States attorney’s office in the Manhattan district of New York have reportedly begun investigating the fall of crypto exchange FTX. According to a Nov. 14 report from Reuters, a source with knowledge of the investigations said authorities in New York were looking into the collapse of the major crypto exchange following

United States congressman Brad Sherman, a known crypto skeptic, has pointed the finger at “billionaire crypto bros” for slowing down much-needed cryptocurrency regulation.  In a Nov. 13 statement addressing the collapse of crypto exchange FTX, Sherman said the exchange’s implosion has demonstrated the need for regulators to take immediate and aggressive action: “The sudden collapse

Just days after Binance CEO Changpeng “CZ” Zhao warned about the onset of greater regulatory scrutiny amid the FTX collapse, the Financial Secretary of Hong Kong called for a stronger focus on transparency and proper supervision when dealing with virtual assets. Financial Secretary Paul Chan highlighted the importance of being “steady and cautious” when promoting

An investigation of possible criminal misconduct over the insolvency of cryptocurrency exchange FTX is underway by financial investigators and the Bahamas securities regulators, according to a statement by the Royal Bahamas Police Force sent to Reuters on Nov 13.  The Royal Bahamas Police stated: “In light of the collapse of FTX globally and the provisional