Regulation

The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan. Bankruptcy Judge Michael A. Kaplan approved BlockFi’s third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the same day shows. Sept.

The United States Securities and Exchange Commission (SEC) is taking the maximum time allowed for the regulator to reach a decision on a spot Bitcoin (BTC) exchange-traded fund, or ETF, offering from ARK 21Shares.  In a Sept. 26 notice, the SEC said it would designate a longer period on whether to approve or disapprove of

Four members of the United States Congress are requesting Securities and Exchange Commission Chair Gary Gensler “immediately” approve the listing of spot Bitcoin (BTC) exchange-traded funds, or ETFs. In a Sept. 26 letter to Gensler, U.S. Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres claimed the SEC was “discriminat[ing] against spot bitcoin exchange

Lauren Belive, a former official with the White House’s Office of Legislative Affairs and policy director with the United States House Committee on Rules, has joined crypto firm Ripple as its head of U.S. public policy and government. In a Sept. 26 announcement on LinkedIn, Belive said she had accepted the policy position at Ripple

Bitwise Asset Management has filed an amended application for a spot Bitcoin exchange-traded fund (ETF), beefing it up with 40 pages of new text responding to the United States Securities and Exchange Commission’s (SEC) objections to the product. It still might not be enough to satisfy regulatory requirements, though, a company executive warned. Bitwise is

The Federal Reserve Banks of Boston and New York published a staff report on Sep. 26 comparing stablecoins, such as USDT and USDC, to money market funds. Key findings in the report include the observation that stablecoins and money market funds follow similar patterns during runs and that stablecoins could inject instability into the broader

The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has added a crypto wallet allegedly connected to a major international crime syndicate as part of its list of Specially Designated Nationals. In a Sept. 26 announcement, the U.S. Treasury said it had sanctioned 10 individuals, including many tied to

Chase Bank, a digital bank owned by the investment bank JPMorgan, will restrict all cryptocurrency-related transactions for its customers in the United Kingdom. Starting from Oct. 16, customers of Chase Bank in the U.K. will no longer be able to make crypto transactions using their debit cards or through outgoing bank transfer, a spokesperson for

The Shanghai Second Intermediate People’s Court in China has reportedly recognized  Bitcoin as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value. The Chinese court released a report on Sept. 25 discussing the development of internet technologies. The report noted that with the development of Internet technology, digital currencies such as Bitcoin stand

A number of cryptocurrency platforms reporting billions of dollars in daily trades on CoinMarketCap appear to have been misleading their customers about holding certain crypto licenses, an investigation by Cointelegraph has found. Bitspay, a crypto exchange that reports a $1.4 billion daily trading volume on CoinMarketCap, claimed it held a license in Estonia, and is

Venezuela was one of the first Latin American countries to establish its own crypto oversight body, launching the Superintendencia Nacional de Criptoactivos (Sunacrip) in 2018. However, the government now says it will take six extra months to “reorganize” the entity, which it closed in March 2023.  According to a presidential decree published on Sept. 19, President

Hours after the crypto exchange HTX (rebranded from Huobi) reported a hack that resulted in a loss of $8 million, Changpeng ‘CZ’ Zhao offered the help of the Binance security team in investigating the attack.  Timely intervention is key to tracking down and retrieving stolen cryptocurrencies as hackers attempt to hide their tracks using mixers

As Taiwan regulators prepare to lay out a crypto regulation framework in September, Taiwan’s digital asset platforms have announced the establishment of an industry association.  MaiCoin Group, BitoGroup and Ace Exchange became the first three founders of the Taiwan Virtual Asset Platform and Transaction Business Association. The preparatory group for the association was formed in early

The creditors involved in the Celsius bankruptcy case have voted in favor of a plan that will see funds returned to them as well as distributing equity through a new company. According to a Sept. 25 filing from bankruptcy firm Stretto, most of the classes voted in favor of the plan by more than 98%.

The United States government could be shut down in the next 7 days with House Speaker Kevin McCarthy facing political pressure from members of his own party on how to handle spending plans — a decision that could adversely affect how lawmakers move forward with crypto bills awaiting a vote. In July, U.S. lawmakers with

Hong Kong regulators are looking to tighten the noose around the crypto market after arresting six individuals following allegations of fraud around an unlicensed crypto exchange, JPEX. The government intends to increase its efforts to inform investors and remind them only to utilize platforms granted Securities and Futures Commission licenses.  Meanwhile, Thailand’s Revenue Department plans

The United States Securities and Exchange Commission (SEC) has filed an objection to Celsius Network’s reorganization plan based in part on the regulator’s own ongoing lawsuit with crypto exchange Coinbase. In a Sept. 22 filing in U.S. Bankruptcy Court for the Southern District of New York, the SEC filed a limited objection and reservation of

China is looking to build artificial intelligence (AI) chip factories for creating particle accelerators to help bypass sanctions affecting the local industry, according to a report from the South China Morning Post (SCMP).  Using particle accelerators will help create new ways to produce a novel laser source. The SCMP reported that the electron beam of

Tether, the largest stablecoin issuer behind USDT, has reportedly changed its terms of services (ToS) in Singapore. An email shared by the decentralized finance protocol Cake CEO on Sept. 25 shows the changes to Tether’s ToS prohibiting certain customer base from redeeming USDT. The CEO of Cake Group Dr. Julian Hosp took to social media platform

Hong Kong’s financial regulator, the Securities and Futures Commission (SFC) has vowed to step up its efforts to combat unregulated cryptocurrency trading platforms in its jurisdiction According to a Sept. 25 announcement, the SFC said it will publish a list of all licensed, deemed licensed, closing down and application-pending virtual asset trading platforms (VATPs) to