A Switzerland-based organization that sets international banking standards released new proposed guidance for banks to manage exposure to digital assets that retracts previous draft rules for stableco...
Tag: Policy
OneCoin co-founder Karl Sebastian Greenwood pleads guilty: DOJ
Karl Sebastian Greenwood pled guilty to wire fraud and money laundering connected to the fraudulent OneCoin scheme, the Department of Justice announced. Greenwood co-founded OneCoin along with s...
Key financial regulators call for stronger licensing of crypto firms
Several key financial regulators in the U.S. cited issues with cryptocurrency firms and called for stricter licensing at a Friday meeting of the Financial Stability Oversight Council, a committee of U...
FTX, Bahamas liquidators remain at loggerheads over system access
FTX, the Bahamas government, and lawyers hired to liquidate the failed crypto empire’s Bahamian operations remain at loggerheads over granting access to FTX’s Bahamian computers to review what assets ...
FTX bankruptcy case inches closer to potentially naming creditors
Lawyers for beleaguered crypto exchange FTX did not object to media arguing in the firm’s bankruptcy case, taking a step toward potentially identifying customers tied up in the collapse. Media o...
Bolthouse Farms Adopts Less Restrictive NDA Policy To Protect Employees
BAKERSFIELD, CALIFORNIA – MAY 26 : Massive carrot harvesters gather carrots from the ground and into … [+] waiting truck for drive to Bolthouse Farms processing facility, May 26, 2004 in B...
G20 to Establish Policy Consensus Regarding Harmonized Regulation of Crypto Assets
The G20 is working to create a global crypto policy consensus for better asset regulation and accountability. The G20 governments are reportedly working on developing a unified crypto policy. If succ...
Australian regulator sues Finder Wallet for ‘unlicensed’ financial services
Australia’s financial watchdog sued Finder Wallet, a subsidiary of comparison website Finder.com, over a crypto-linked yield product. The Australian Securities and Investment Commission (ASIC) s...
Key Republican presses Yellen to issue digital asset reporting rules
Rep. Patrick McHenry is urging the Treasury Department to issue clearer digital asset reporting rules as part of last year’s infrastructure bill and delay compliance requirements for the new rules. &...
Committee to represent creditors formed in FTX bankruptcy case
A committee to represent unsecured creditors and serve as the voice for most FTX customers in court was established in the U.S. bankruptcy case of FTX and its affiliated companies. The formation...
G20 looks to develop a global crypto policy consensus: Reuters
Representatives at the G20 are looking to develop a streamlined policy agreement for crypto assets to inform global regulation. “One of the priorities which have been put on the table is to help...
Bankman-Fried lieutenant alerted regulators to misuse of customer funds
One of Sam Bankman-Fried’s top lieutenants told Bahamian authorities that customer funds from the firm were used to plug holes in the balance sheet of his investment fund, Alameda Research. In a...
Next UK financial regulator calls for tougher crypto rules: FT
Ashley Alder, the UK’s next Financial Conduct Authority chair, had harsh words for crypto platforms as he addressed members of parliament, the Financial Times first reported. Speaking at a cross...
CFPB not planning crypto crackdown, says Bureau Director Chopra
The Consumer Financial Protection Bureau is not planning an immediate crypto crackdown, its director said today, while choosing his words carefully. “Crypto is not a product. Certain electronic ...
G20 member countries seek to build ‘a policy consensus on crypto’
Member countries of the Group of 20 (G20) have revealed a plan to build a cryptocurrency policy consensus that will likely inform the global digital assets sector regulation. The member states fronte...
Senators voice broader concerns around crypto, including Binance
Senate lawmakers are taking a closer look at Binance in the wake of FTX’s collapse, with a hearing today frequently touching on the off-shore exchange while senators also expressed broader conce...
OECD calls for ‘urgent policy action’ following series of crypto firm implosions
As the crypto industry becomes more closely linked to traditional finance, the next crypto collapse could cause broader financial instability, according to a new report from the Organisation for Econo...
Legal fight escalates around ‘collusion’ between Bankman-Fried and Bahamian government
A federal bankruptcy judge will hear evidence about the potentially criminal movement of assets out of FTX and its affiliated companies, in what is the latest escalation of a heated legal struggle bet...
Atlas Trading founders targeted by SEC for alleged fraud via Twitter and Discord
Known on Twitter as Zack Morris and PJ Matlock, the founders of Atlas Trading and several alleged co-conspirators have been accused of stock manipulation by the U.S. Securities and Exchange Commission...
Venezuelans Propelled To U.S. By Crisis, Not Immigration Policy
A man from Venezuela seeking asylum in the United States holds his daughter at the entrance to the … [+] Paso del Norte International Bridge on February 28, 2020, in Ciudad Juárez. (Photo by PAU...
New York regulator and BitLicense proponent gets seat on federal counsel of agency leaders
Adrienne Harris, the leader of New York’s state banking and financial regulatory agency that oversees the state’s BitLicense, has been named to a non-voting seat on the Financial Stability...
Bankman-Fried denied bail, remanded to custody in the Bahamas: Reuters
Sam Bankman-Fried is headed to jail after a magistrate judge in the Bahamas denied his bail application and remanded him to the Department of Corrections, Reuters said. The disgraced former CEO of FT...
FTX execs had ‘free rein’ over exchange, Alameda, CEO Ray says
Sam Bankman-Fried and his top lieutenants had “free rein” over failed crypto exchange FTX and its sister trading firm, Alameda Research, the new FTX CEO said in a congressional hearing. Testify...
Sam Bankman-Fried charged with fraud over FTX collapse
Sam Bankman-Fried was charged with fraud by the U.S. Securities and Exchange Commission over the collapse of FTX, the crypto exchange he founded. The former CEO was charged with “orchestr...
Waters ‘disappointed’ Bankman-Fried will no longer testify before Congress
House Financial Services Committee Chair Maxine Waters, D-Calif., says she’s “disappointed” and “surprised” at the timing of Sam Bankman-Fried’s arrest, due to his scheduled appearance before her comm...
Bankman-Fried ‘unwilling’ to accept subpoena, escalating Senate standoff
Senate lawmakers blasted former FTX CEO Sam Bankman-Fried for declining to appear at a hearing this week, calling his decision an “unprecedented abdication of accountability.” The Senate Banking...
Ex-Goldman Sachs Executive Says Bitcoin and Ethereum Flashing Historic Signal As Central Banks Prepare to Reverse Policy
Macro guru Raoul Pal says that Bitcoin (BTC) and Ethereum (ETH) are displaying historic signals as both crypto assets rest on critical support levels. The former Goldman Sachs executive tells his 991,...
FTX CEO Ray details firm’s lack of controls, sophistication under SBF in testimony to Congress
FTX CEO John Ray refuted Sam Bankman-Fried’s contention that FTX US has enough segregated funds on hand to re-open user withdrawals. The CEO laid out the core structural flaws that led to ...