U.S. authorities plan to announce an enforcement action against an international crypto entity at noon ET today. Representatives from the FBI, the Office of Foreign Asset Control (OFAC), the Fi...
Tag: U.S. Policymaking
Bitcoin above $18,000 as US inflation slows in December
Inflation in the U.S. increased by 6.5% year-on-year in December and decreased by 0.1% month-on-month. Cryptocurrencies and traditional stock markets were buoyed as CPI data met estimates. Bitc...
Senators voice concerns over law firm’s role in FTX bankruptcy
Four lawmakers lambasted a prominent law firm’s role in FTX’s bankruptcy proceedings and called for an independent examiner to oversee the investigation into the crypto exchange’s collapse. Sen...
CFTC files its own case against Mango Markets exploiter
The Commodity Futures Trading Commission is suing Avraham Eisenberg, aka Mango Avi, over alleged manipulation of swaps on Mango Markets, a decentralized exchange on the Solana blockchain. The n...
Senator who spearheaded SBF-backed crypto bill to retire
Sen. Debbie Stabenow, D-Mich., will not seek reelection in 2024. “Inspired by a new generation of leaders, I have decided to pass the torch,” she said in an announcement, with plans to se...
U.S. regulators issue post-FTX collapse crypto warning to banks
U.S. banking regulators remain skeptical of banks holding digital assets. The Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. put out a jo...
Binance.US deal with Voyager may fall under federal committee review
An agreement between Binance.US and bankrupt crypto lender Voyager Digital may be subject to review by the Committee on Foreign Investment in the United States (CFIUS), court filings showed. The...
IRS to delay $600 payment platform reporting threshold, calls 2022 “transition period”
The Internal Revenue Service is delaying new requirements that require third-party settlement organizations like PayPal and Venmo to report transactions that exceed a minimum threshold of $600 in aggr...
Democrats split on Gensler’s crypto approach post-FTX
As Congress weighs the FTX collapse, Democrats appear split on how much more the Securities and Exchange Commission and its chair, Gary Gensler, could have done to stave off what the agency now calls ...
Retiring Sen. Toomey introduces new stablecoin bill
Sen. Pat Toomey, R-Pa., introduced a bill that would establish a federal framework for stablecoins and aims to “guide Congress” toward future crypto regulation, less than two weeks before the Republic...
Incoming House chairman wants regulators to form offices of innovation
The incoming chair of the House Financial Services Committee wants regulators to “to modernize and streamline how innovators interact with regulators,” and grant offices of innovation the ...
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...
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 ...
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...
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...
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...
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...
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 ...
‘Overbooked’ Sam Bankman-Fried to testify before Congress virtually
Former FTX CEO Sam Bankman-Fried will testify virtually before Congress on Tuesday, saying he can’t travel to Washington, D.C. due to his busy schedule and security concerns about paparazzi. “I&...
Grayscale says SEC filed first legal brief in ongoing bitcoin futures ETF lawsuit
Grayscale Investments said the U.S. Securities Exchange Commission has filed its first legal brief in the lawsuit the crypto asset manager filed over the rejection of its application for a spot bitcoi...
Congressional committee confirms SBF as FTX hearing witness
Disgraced FTX founder Sam Bankman-Fried is slated to testify in a congressional hearing on the collapse of the company, the U.S. House of Representatives Committee on Financial Services confirmed. &#...
Sam Bankman-Fried ghosts Senate for testimony on FTX collapse
Former FTX CEO Sam Bankman-Fried and his attorney did not respond to the Senate Banking Committee’s demand that he testify or otherwise cooperate with an investigation into his failed corporate ...
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...
Senators question U.S. banking regulators on crypto exposure
Two U.S senators have written to agencies tasked with supervising the financial sector to seek details about banks’ exposure to cryptocurrencies. Sens. Elizabeth Warren, D-Mass., and Tina ...