“Given the magnitude, urgency, and international implications of the unfolding events with regard to FTX, the Commission recognized that it had to, and moved swiftly to use its regulatory powers...
Tag: Regulation
Dear Tax Guy: ‘What happens if I sell my existing house to pay off the loan on my new home? How much tax will I owe?’
Greeting, readers. I’m Andrew Keshner and I’m the tax reporter for MarketWatch. I write about the controversies, open questions and best strategies about taxes. For the purposes of this new column, th...
Biden nominates Gruenberg for full FDIC chairmanship
President Joe Biden nominated Martin Gruenberg to chair the Federal Deposit Insurance Corporation, one of the U.S. banking regulators. Gruenberg has occupied the role in an acting capacity sinc...
FTX’s CFTC application to offer direct trading is dead
FTX is pulling the plug on its application to offer its automated margin in the U.S. The bankrupt crypto exchange withdrew its application, made through a subsidiary, to offer a novel structure ...
The FAA Limits Seats On Airplanes — Seat Sizes Don’t Need Regulation
This 3-3-3 seating configuration is common in the coach cabins of many wide-body airplanes today. getty There has been a lot of noise recently about regulating the size of airline seats. As a nation w...
Antitrust battle over Apple’s app store goes to appeals court
SAN FRANCISCO — Apple is heading into a courtroom faceoff against the company behind the popular Fortnite video game, reviving a high-stakes antitrust battle over whether the digital fortress shieldin...
As Pandemic Aid Dries Up, Businesses Chase Covid Tax Credit
A temporary tax break for small businesses has spawned a cottage industry of advisory firms tapping into federal pandemic aid, raising alarms at the Internal Revenue Service that some claims are going...
Manhattan District Attorney Freezes $1.3 Million in Crypto — Seeks to Return Funds to Fraud Victims – Regulation Bitcoin News
Manhattan District Attorney (DA)’s Office has frozen more than $1.3 million in cryptocurrency “during fraud investigations conducted over the past ten months.” The authority said: “We are returning th...
Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes – Regulation Bitcoin News
The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. SEC Chairman Gary ...
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto – Regulation Bitcoin News
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now work...
Rep. Brad Sherman asks for increased regulation, calls out ‘billionaire crypto bros’
Congressman Brad Sherman, D-Calif., is the latest politician to call for increased regulation of the cryptocurrency market in the wake of FTX’s multibillion-dollar downfall. “The sud...
Bahamas regulator contradicts FTX claim that it was required to process local withdrawals
The Securities Commission of the Bahamas (SCB) did not require failed crypto exchange FTX to allow withdrawals for users in the country, according to a statement shared on the financial regulator̵...
FTX bankruptcy: Can account holders expect to get their money back?
FTX, the unraveling cryptocurrency exchange, has plummeted from its high-profile perch straight into bankruptcy court. On Friday morning, FTX and related entities including Alameda Research, its affil...
US Treasury Secretary and Indian Finance Minister Discuss Crypto Regulation – Regulation Bitcoin News
U.S. Treasury Secretary Janet Yellen and Indian Finance Minister Nirmala Sitharaman discussed crypto regulation during the ninth India-U.S. Economic and Financial Partnership meeting. They stressed th...
Former US Treasury Secretary Larry Summers Compares FTX Collapse to Enron Fraud – Regulation Bitcoin News
Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said th...
Crypto Insider Says FTX-Backed US Politicians Face Difficult Decision on Upcoming DeFi Regulation – Here’s Why
Politicians backed by the embattled digital asset exchange FTX have a difficult decision ahead, according to Ron Hammond, the director of government relations for crypto lobbying group Blockchain Asso...
Should I do a Roth conversion to offset stock losses?
Q.: Dear Dan, We have roughly $45,000 in short-term & long-term losses this year from our brokerage accounts. Is the best move to sell some of our positive stock positions in our brokerage account...
Sen. Pat Toomey slams Congress’s failure to produce crypto regulation in good time
Sen. Pat Toomey criticized the the slow process of passing U.S. crypto trading regulations. Hostility and a lack of transparency by the SEC, alongside a failure to pass regulatory guardrails, ha...
SEC Chairman Gensler Discusses Crypto Regulation Following FTX Drops
2 hours ago | 2 mins read Editors News A U.S. congressman is looking into whether Gensler helped the FTX CEO . According to Gensler, Platforms for crypto trading and lending should “come in, talk to ...
Japanese Regulator Slaps FTX Japan With Business Suspension Order – Regulation Bitcoin News
Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order to FTX Japan, the Japanese subsidiary of FTX.com. The financial watchdog has also ordered t...
White House, US Senators Call for Proper Crypto Oversight – Regulation Bitcoin News
The White House and members of the U.S. Senate Banking Committee have called for proper cryptocurrency regulation following the collapse of crypto exchange FTX. “Without proper oversight of cryptocurr...
SEC Chair Gensler Discusses Crypto Regulation Following FTX Collapse — Says This Field Is ‘Significantly Non-Compliant’ – Regulation Bitcoin News
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined two paths the agency is taking to regulate the crypto industry. Meanwhile, a U.S. congressman is investiga...
‘Bitcoin will be the winner because bitcoin is a digital commodity and it’s the least controversial of everything’: MicroStrategy’s Michael Saylor
“‘Bitcoin will be the winner because bitcoin is a digital commodity and it’s the least controversial of everything.’” — Michael Saylor, MicroStrategy In an interview Thursday morning on CNBC, MicroStr...
FTX’s Collapse Could Finally Be ‘Catalyst’ for Regulation
Peirce did not state which agency should be responsible for regulating the crypto industry, and added that “having one regulator devoted to crypto could be problematic.” She did, however, suggest that...
Alameda promised ‘high returns with no risk’ in 2018 pitch
Regulatory red flags tied to Sam Bankman-Fried’s crypto trading firm Alameda Research may date all the way back to 2018. The quantitative crypto trading firm — which served as the liquidit...
California moves to suspend BlockFi’s lending license in state
California’s Department of Financial Protection and Innovation issued a notice to suspend crypto lender BlockFi’s license in the state for 30 days pending an investigation into the company...
You need to understand the FTX debacle even if you have no investments in crypto
The sudden collapse of FTX, the world’s third-largest cryptocurrency exchange, underlines how important it is for any investor to learn about the risks they take when they park their money with a ligh...