Regulation

A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently-operated subsidiaries, arguing that they should be privy to the sales process to ensure customer interests are represented.  It has also shared concerns that “misappropriated customer funds” may have been used to acquire, or keep these firms running. The

Francois Villeroy de Galhau, the Bank of France’s governor, has urged for more stringent licensing requirements for crypto companies in France, citing the current turmoil in the crypto markets. During a speech in Paris on Jan. 5, the central bank governor said France shouldn’t wait for upcoming EU crypto laws to enact obligatory licensing for

After a one-year hiatus, Our Man in Shanghai returns, but he’s no longer based in Shanghai (the crypto crackdown was a factor in the column’s retirement), so a rebranding is in order. This space is now called “Asia Express,” and it’s a weekly roundup of news from mainland China and Taiwan and the rest of

The United States Securities and Exchange Commission and Commodity Futures Trading Commission and prosecutors are reportedly investigating former FTX engineering director Nishad Singh for potentially having a role in defrauding investors and users. According to a Jan. 5 report from Bloomberg, U.S. officials are looking at individuals in former FTX CEO Sam Bankman-Fried’s inner circle as

Fourteen years after Bitcoin’s Genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies’ future and economic impact. On Dec. 14, the Financial Accounting Standards Board (FASB) discussed new accounting and disclosure requirements for entities holding crypto assets

European Central Bank (ECB) executive board member Fabio Panetta has been a vocal supporter of central bank digital currency (CBDC) and cryptocurrency sceptic, and he presented his latest argument for CBDC on Jan. 5. Writing on the official ECB blog, he said that, by developing CBDCs, central banks “will safeguard the trust on which private

Michigan Senator Debbie Stabenow, chair of the United States Senate Agriculture Committee, has announced that she will be leaving office in 2025. In a Jan. 5 announcement, Stabenow said she would finish the remainder of her 6-year term in the Senate, then “pass[ing] the torch” to other U.S. lawmakers. The senator was one of the

Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies were subpoenaed on Twitter on Jan. 5, after the liquidators granted permission from Singapore authorities following a United States bankruptcy court order, according to information given to Cointelegraph by advisory firm Teneo. As reported by Cointelegraph, liquidators’ lawyers have repeatedly failed to engage with the

New York Attorney General Letitia James has filed a lawsuit against Alex Mashinsky, alleging the Celsius founder and CEO made numerous “false and misleading statements” which led to investors losing billions.  In a Jan. 5 announcement, the New York Attorney General’s office announced the lawsuit, which allegedly involved defrauding more than 26,000 residents of the

Daniel Friedberg, controversial lawyer who served as top compliance chief at now-defunkt exchange FTX, has reportedly cooperated with United States’ prosecutors investigating FTX collapse. Friedberg provided details about FTX in a meeting with two dozen investigators hold by the U.S. Attorney for the Southern District of New York’s (SDNY) office on Nov. 22, Reuters reported.

Hong Kong authorities are looking for new designs for a central bank digital currency (CDBC), now proposing to issue a CBDC in the form of a stablecoin backed by the government. Wu Jiezhuang, a member of the Legislative Council of the Hong Kong Special Administrative Region, believes that turning the Hong Kong digital dollar (e-HKD)

200 million Twitter users’ private information, including their email addresses, was put for sale after a breach exposed 400M users’ private information in the last week of December 2022. The hacker behind the December breach has earlier demanded $200,000 from Twitter in a bid to return the stolen data and warned if the demand is

The United States Securities and Exchange Commission (SEC) has filed a “limited objection” to crypto exchange Binance.US’s proposed $1 billion takeover of bankrupt crypto lender Voyager Digital, citing a lack of “necessary information.” The limited objection was filed on Jan. 4, with the SEC pointing to a lack of detail regarding Binance.US’s ability to fund

Celebrities had a shaky year promoting crypto firms and projects throughout 2022.  Many found themselves named in lawsuits over their alleged promotion of since-failed projects, while others have been relentlessly mocked on social media for their involvement in the first place. From movie stars to television actors, sports stars to musicians, many celebrities may be

The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange. According to a Jan. 4 report from Reuters, U.S. officials told a judge they were in the process of

At the time of publication, the United States House of Representatives was at a historic standstill in its process of choosing a Speaker for the 118th Congress — a quagmire that could lead to lawmakers delaying committee hearings. As of Jan. 4, California Representative Kevin McCarthy lost the fifth round of votes to become the

Effective regulations are one of the key gateways to cryptocurrency’s mainstream adoption. Due to greater compliance, crypto businesses saw broader acceptance from regulators worldwide. While the crypto ecosystem was awarded countless operational licenses and exposure to new markets, the fall of Terraform Labs, FTX and Celsius, among others, had a negative impact on the industry’s

The New York State Department of Financial Services, or NYDFS, has reached an agreement with Coinbase following an investigation into the cryptocurrency exchange’s compliance program. In a Jan. 4 announcement, the NYDFS said Coinbase will pay a $50-million fine in response to violations of New York’s financial services and banking laws, as well as invest

The United Kingdom’s National Crime Agency (NCA) is taking measures to increase its focus on cryptocurrency crimes and combat criminals. NCA’s cyber-focused command, the National Cyber Crime Unit (NCCU), is launching a dedicated cryptocurrency unit to investigate U.K. cyber incidents involving the use of cryptocurrencies like Bitcoin (BTC). Called “NCCU Crypto Cell,” the crypto-focused unit

The Israeli Securities Authority (ISA) proposes a framework for regulating digital assets as an increasing number of Israeli investors are exposed to digital assets, and over 150 companies operate in Israel, according to the regulator. The regulator released a proposal in January 2023, outlining its purpose to achieve the “double value” of responding to the