Judge Lewis Kaplan reportedly targeted Sam Bankman-Fried’s internet usage in a hearing aimed at reviewing the former FTX chief executive officer use of a virtual private network, or VPN. According to a Feb. 16 tweet from NPR correspondent David Gura, Judge Kaplan may have suggested that Bankman-Fried be denied access to any electronic device and
Regulation
GBBC Digital Finance announced on Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities. IOSCO’s members include 35 national securities regulators and over 200 affiliated organizations. In addition, the IOSCO has an Affiliate
Debtors for crypto lender Celsius Network have the authority to sell coupons for mining firm Bitmain coupons worth roughly $7.4 million following a ruling from a bankruptcy judge. In a Feb. 16 court filing, United States Bankruptcy Judge Martin Glenn said it was in the “best interests of the Debtors’ estates, their creditors, and other
The Financial Stability Board (FSB), the financial regulator funded by the Bank for International Settlements (BIS), is pushing international regulations for decentralized finance (DeFi). The FSB on Feb. 16 issued a report on the financial stability risks of DeFi, highlighting major vulnerabilities, transmission channels and the evolution of DeFi. Despite providing many “novel” services, DeFi
The European Union is famous for its ambivalent relationship with privacy — on the one hand, it was the first place in the world to apply strict data protection regulations. On the other, its central bank digital currency (CBDC) project lacks the anonymity standards of private cryptocurrencies. Nevertheless, last week the EU lawmakers made a
Wyoming lawmakers have passed a bill that will prohibit courts in the state from forcing someone to disclose their digital asset private keys, with one minor exception. The bill was passed through the Wyoming House of Representatives in the state’s 67th general session of 2023 on Feb. 15. If the bill is approved by Wyoming
The former dean of Stanford Law School who co-signed Sam Bankman-Fried’s bail said he considered Bankman-Fried’s parents “the truest of friends” who helped his family through a “harrowing battle with cancer.” In an emailed statement to Cointelegraph on Feb. 16, Larry Kramer said he co-signed Bankman-Fried’s bail as a way to return the favor. “Joe
The world’s largest digital asset exchange, Binance, is preparing to face fines and penalties in order to settle outstanding regulatory and law-enforcement investigations in the United States. According to a Feb. 15 WSJ report citing the firm’s chief strategy officer Patrick Hillmann, Binance has been working with regulators to remedy past compliance issues. Hillmann stated
A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future. The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule”
Sam Bankman-Fried, the former CEO of crypto exchange FTX, may no longer be able to play League of Legends and other video games if newly proposed changes to his bail conditions from United States prosecutors are approved. In a Feb. 15 letter to United States District Judge Lewis Kaplan, U.S. Attorney Damian Williams asked the
The settlement between Kraken (Payward Ventures) and the United States Securities and Exchange Commission set off alarm bells in the crypto community this month. Apparently, Kraken — one of the most compliance-minded crypto exchanges in existence — decided to buy its peace rather than fight with the SEC for years over whether it was offering
Alabama Senator Tommy Tuberville has reintroduced legislation aiming to allow United States 401(k) retirement plans to include exposure to cryptocurrencies. In a Feb. 15 announcement, Tuberville said the Financial Freedom Act — which he first introduced to the U.S. Senate in May 2022 — aimed to reverse policy from the Department of Labor directing what
The United States Federal Deposit Insurance Corporation (FDIC) has sent a letter to executives of cryptocurrency exchange CEX.IO warning them that they are potentially in violation of federal law due to false and misleading statements about the exchange’s insurance status. The agency has given the exchange 15 days to make corrections. The statement in question
A federal judge has allowed identities of guarantors who signed on sureties for former FTX CEO Sam Bankman-Fried’s $250 million bond to be made public following a request from several news outlets. Court documents released on Feb. 15 showed that the two previously unidentified individuals were Andreas Paepcke, a senior research scientist at Stanford University
The European Commission announced the launch of the European Blockchain Regulatory Sandbox on Feb. 15. The sandbox will provide a space for regulatory dialog for 20 projects per year through 2026. The sandbox was first announced in 2020 and is being facilitated by a number of private firms that won tenders in 2022. Funding will
Lawmakers in the Kansas House of Representatives have introduced a bill proposing to amend the legislature’s rules on political campaign donations. According to the bill, no person would be allowed to make or accept crypto contributions of more than $100 for any political candidate in the state’s primary or general election. For donations under $100,
Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a motion appointing an independent examiner for FTX. In a Feb. 15 hearing, Judge Dorsey said he had some discretion under the law to choose whether to appoint an examiner in the FTX bankruptcy case despite some of the
South Korean prosecutors have requested an arrest warrant for the former CEO of Tmon, a Korean e-commerce platform, after taking billions of South Korean won in Terra (LUNA), now known as Terra Classic (LUNC), for promoting Terra as a simple payment gateway. Seoul prosecutors requested an arrest warrant on the former CEO of ecommerce giant
As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists: The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission (SEC) and Kraken are
Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)” and two of his entities, FTX and Alameda Research, in a newly proposed class action lawsuit. The proposed class-action lawsuit was filed in the United States District Court of the Northern District