The Australian government plans to establish a framework for licensing and regulating crypto service providers in 2023. Specifically, the Albanese government aims to define what digital assets s...
Tag: Regulation
SBF Wanted To Keep SEC Out Of Crypto Regulation: FTX Hearing
FTX Hearing News: The Congressional hearing on the FTX crisis is turning out to be very interesting with the comments from CEO John J. Ray III. As Sam Bankman-Fried continues to be in police custody i...
US Lawmaker Calls on SEC Chair Gensler to Testify About His Crypto Regulatory Failures – Regulation Bitcoin News
U.S. Congressman Tom Emmer has called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to testify before Congress and “answer questions about the cost of his regulatory f...
Stringent Crypto Regulation Incoming After FTX Collapse: Warns Thai SEC
The FTX collapse spurred action from yet another financial watchdog. The Thailand Securities and Exchange Commission (SEC) is gearing up to impose more stringent regulations on crypto assets similar t...
FSB to lay down recommendations for crypto regulation in early 2023
FSB is preparing to lay down recommendations for regulating the crypto industry in early 2023. The board’s members met in Basel last week to discuss the collapse of the now-bankrupt crypto exchange, F...
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...
Vanguard sees a recession in 2023 — and one ‘silver lining’ for investors
The last 12 months was a year of fast-rising inflation, fast-rising interest rates and fast-rising questions about a future recession. Prices went up while stock markets and savings account balances w...
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...
Thai SEC about to apply stricter regulation for crypto
In what it says is an effort to protect investors and maintain market integrity, the SEC of Thailand is preparing to implement stricter regulations for digital assets. Regulation at a difficult time ...
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...
FSB to lay out global standards for crypto regulation: Reports
The FTX collapse spurred action from a global financial watchdog to give recommendations to regulate the crypto industry early in 2023. The Financial Stability Board (FSB), an international organizat...
Crypto Problems Grow: Binance Might Face Money-Laundering Charges
The end of the year is proving very eventful, even tumultuous, for the crypto industry. The fledgling blockchain-powered financial-services industry is still wondering what and who will be the collate...
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 ...
Binance and Its CEO at Risk of Criminal Charges Over AML Rules: Report
The cryptocurrency exchange Binance and executives including CEO Changpeng Zhao are at risk of U.S. criminal charges over compliance with U.S. money-laundering laws and sanctions, according to a repor...
Crypto Regulation Will Make People Believe it’s Real, says US Senator
Cryptocurrencies have their sides divided when it comes to perception of people towards the burgeoning asset class. Many financial authorities and people on authoritative designations also have differ...
U.S. Justice Department weighs charging Binance and its executives: Reuters
The U.S. Justice Department is continuing to weigh up charging crypto exchange giant Binance for possible money laundering and criminal sanctions violations, according to Reuters. It is also l...
China’s regulator sees FTX’s bankruptcy as a reason for tighter regulation
The China Securities Regulatory Commission (CSRC) believes FTX’s bankruptcy filing had far-reaching ramifications for the broader cryptocurrency ecology and showed the need to enact more stringent reg...
More Penalties, Industry Bans Come From Wells Fargo Scandal
Over the last few years, it seems like Wells Fargo (WFC) – Get Free Report has come under investigation for no small number of regulatory infractions or discrimination practices. Just under a ...
Gas prices are now lower than at this time last year. Could they fall below $3 a gallon in the months ahead?
Gas prices on Thursday were slightly less on average than they did one year ago — with a slim one-cent margin — but experts say there could be cheaper gas in the weeks and month to come. Thursday’s na...
Hong Kong SCMP Editorial says crypto needs stricter regulation
Despite the fact that Hong Kong is a reasonably free environment regarding cryptocurrencies at the moment, recent occurrences have called for legislators to have clearer laws and regulations on this i...
Full Ban on Crypto in Russia Would Be Counterproductive, Rosfinmonitoring Says – Regulation Bitcoin News
Russian citizens and businesses already own cryptocurrencies, which is why a complete crypto ban would be counterproductive, according to a top executive of Rosfinmonitoring, Russia’s financial intell...
FTX Co-Founder Sam Bankman-Fried Agrees to Testify Before US Congress – Regulation Bitcoin News
The co-founder of collapsed crypto exchange FTX, Sam Bankman-Fried (SBF), has agreed to testify at one of the two congressional hearings set for next week. “I had thought of myself as a model CEO, who...
UK Plans to Establish Regulation for Stablecoin Payments
The United Kingdom HM treasury is committed to establishing a safe framework for the use of stablecoins. The FSM Bill plans to regulate crypto assets. This Friday, the HM treasury of the United Kingdo...
European Union to Put a 10,000-Euro Limit on Cash Payments; Transactions Over €1,000 in Crypto Will Be Scrutinized – Regulation Bitcoin News
The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency transactions. On Nov. 6 the bloc agreed to put a limit of €10...
Some Simple Ways To Improve Regulation And Boost Economic Growth
Stressed out African American female freelancer working from home using her laptop and encountering … [+] some problems concerning her business getty Nearly halfway through his first term, Presi...
Legal Pressure Grows on FTX’s Sam Bankman-Fried
Legal difficulties are mounting for Sam Bankman-Fried, the founder and former CEO of FTX—and it doesn’t seem to be limited to the crypto exchange’s collapse last month. FTX filed for bankruptcy on Nov...
Paraguayan Cryptocurrency Law Shelved After Presidential Veto – Regulation Bitcoin News
The cryptocurrency and mining law that the Paraguayan Congress passed in June was finally shelved on Dec. 5. The document, which sought to bring order to crypto mining and exchange activities in Parag...
Legislators propose federal reports of gas emissions for crypto miners
Three U.S. lawmakers introduced a bill that would ask the Environmental Protection Agency to study crypto mining activity and require that miners that use more than 5 megawatts of power submit informa...
Opinion: Opinion: The Fed should pause rate hikes since inflation has slowed — it won’t
The Federal Reserve should declare an immediate cease fire in its war against inflation and hold its benchmark interest rate steady instead of raising the federal funds by a half percentage point to a...