The bipartisan authors of Senate legislation that would increase oversight of cryptocurrencies considered to be digital commodities in the U.S., like bitcoin, plan to move forward with the bill. ...
Tag: Policy
Romance scams and ‘pig butchering’ play key role in growing crypto complaints
The lovelorn among us are prime candidates for crypto scammers, a new bulletin from the U.S. Consumer Financial Protection Bureau (CFPB) shows. CFPB data show that fraud and scams were the focus...
Bahamas securities regulator freezes FTX assets
The Securities Commission of the the Bahamas said it has taken action to freeze assets of FTX Digital Markets and related parties. “The Commission is aware of public statements suggesting that c...
Climate Booster And Foreign Policy Tool
EVERETT, MA – October 31: Everett LNG Marine Terminal on October 31, 2022 in Everett, … [+] Massachusetts. (Photo by Matt Stone/MediaNews Group/Boston Herald via Getty Images) MediaNews Gr...
European G20 leaders call for urgent regulation of ‘crypto conglomerates’
Central bankers and financial regulators making up the Financial Stability Board’s European arm discussed the urgent need to regulate crypto given “recent developments,” and endorsed their October rep...
White House is monitoring FTX implosion, calls for more crypto regulation
The Biden administration has renewed its call for more rules around cryptocurrencies in the U.S. “The administration has consistently maintained that without proper oversight cryptocurrencies ri...
Bahamian regulator investigating problems at FTX: Tribune
A Bahamian regulator is investigating problems at crypto exchange operator FTX, local newspaper The Tribune reported citing unnamed sources. FTX Digital Markets, an FTX unit, is licensed in the...
Wall Street sees tightening of regulatory screws after FTX crypto catastrophe
Wall Street may not have seen the FTX debacle coming, but veterans of traditional finance recognize that once the dust settles there will be a new crypto paradigm. “Wall Street is clearly spook...
‘Urgent need for legislation’ after FTX collapse, says Maxine Waters
There is an “urgent need for legislation” after the sudden collapse of crypto exchange FTX, Rep. Maxine Waters, D-Calif., said in a statement. Waters, the chair of the House Financia...
Fed officials welcome inflation news but still see tighter policy ahead
Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Federal Reserve officials welcomed Thursday’s news showing that inflat...
In An Age Of Innovation, Big Defense May Be The Closest Thing Washington Has To A Real Industrial Policy
The bloom is off the rose that was Big Tech. Share prices have fallen. Workers are being laid off. Anger at the sector is widespread in both political parties. The biggest tech companies in China are ...
Gensler pressed on FTX failure, warns investors to ‘be careful, beware.’
Securities and Exchange Commission Chair Gary Gensler continued to raise red flags about the crypto industry, and responded to questions about whether his agency has failed to go after large actors in...
Grayscale Bitcoin Trust trading at discount of more than 40% amid market tumult
The Grayscale Bitcoin Trust (GBTC), which has been trading at a discount since the beginning of 2021, hit a record low on Wednesday. GBTC is currently trading at a discount of -40.7%, its lowes...
Justice Department joins SEC in FTX probe: WSJ
For collapsed cryptocurrency exchange FTX, legal troubles are mounting. The Department of Justice (DoJ) and the Securities and Exchange Commission (SEC) are working together to investigate FTX’s...
Current crypto legislation ‘undermines’ the SEC, Gensler says
Current legislation undermines the authority of the Securities and Exchange Commission, Chairman Gary Gensler said in an address to the Healthy Markets Association today. “As Congress loo...
Gensler says FTX collapse is ‘part of a pattern’ in crypto markets
Gary Gensler, chairman of the Securities and Exchange Commission, said that Tuesday’s sudden FTX collapse is part of a wider trend in digital assets. “What we’ve seen in the last tw...
The Block: EU crypto legislation will mitigate events like FTX collapse: policy experts
The proposed acquisition of the FTX crypto exchange by rival Binance is bringing European regulators and experts forward — and they’re commenting that the bloc’s new digital asset legislation wi...
Bettors doubting big time that Binance, FTX deal will close, prediction platform shows
A blockchain-based predictions market is showing increasing skepticism that Binance will complete its non-binding deal to acquire the non-U.S. assets of rival exchange FTX as due diligence gets underw...
Binance CEO says he didn’t ‘master plan’ FTX’s collapse
One day after news broke that Binance might acquire the non-U.S. assets of FTX amid a liquidity crunch, CEO Changpeng Zhao told staff that the near collapse wasn’t planned and would likely trigg...
House, Senate control unclear as vote counting continues
It wasn’t clear which party will control the Senate after polls closed on Tuesday night, with vote counts in multiple states still too close to call early into Wednesday morning, and a runoff election...
Sen. Lummis points to FTX-Binance as catalyst for her crypto legislation
At least one senator is calling on Congress to reconsider crypto legislation following Binance’s bailout of FTX earlier today. “Market manipulation, lending activity, and whether cus...
The Block: Bitcoin mining stock report: Tuesday November 8
Most bitcoin mining stocks tracked by The Block declined on Tuesday after news that crypto exchange Binance will acquire FTX rocked the markets. According to data from TradingView, Bitcoin was t...
Bankman-Fried’s priority crypto bill ‘dead’ after FTX sells to Binance
FTX CEO Sam Bankman-Fried poured millions of dollars into political races and lobbying costs this year, becoming crypto’s best-known voice in the world of Washington policymaking. But minutes a...
New Treasury sanctions link Tornado Cash to North Korea’s nuclear weapons program
Despite industry pushback, the U.S. Treasury is not giving an inch in the fight over its sanctions on Tornado Cash. The Treasury’s Office of Foreign Asset Control has in fact added a desi...
FTX implosion has U.S. regulators on watch
U.S. regulators are monitoring the implosion of crypto exchange giant FTX, which announced earlier today that it is selling FTX.com to rival exchange Binance. The Commodity Futures Trading Commi...
Russia’s Central Bank promotes crypto as means of internationalizing embattled economy
The Central Bank of Russia is working on integrating crypto assets into the local financial system. The CBR released a report on digital assets, focusing on integrating them into financial systems. Ma...
SEC wins suit against LBRY in major blow to crypto token issuance
The Securities and Exchange Commission has prevailed in a courtroom battle with decentralized publishing platform LBRY after arguing that its token was subject to regulatory oversight. The court...
Ex-House Speaker, Former Justice Official Join US Policy Crew Assembled by Paradigm
Ryan, who’d joined Gov. Mitt Romney’s ticket as the vice presidential candidate in 2012, will serve on the council with Steve Israel, a former Democratic congressman from New York who ran his party’s ...