Regulation

During the financial crisis of 2007–2008, many people lost trust in traditional financial institutions and turned to alternative forms of currency, such as cryptocurrencies. It was a way for people to maintain their financial freedom and privacy in a system that had let them down. However, the rise of central bank digital currencies (CBDCs) raises

The debtors for defunct crypto exchange FTX have approved an agreement that would sell its preferred stock in Mysten Labs, the company behind the Sui blockchain. In a March 22 filing in United States Bankruptcy Court in the District of Delaware, FTX debtors proposed a deal in which Mysten Labs and the company would agree

Algorand Foundation CEO Stacy Waden took to Twitter to confirm rumors about Coinbase’s decision to discontinue Algorand (ALGO) staking rewards for retail customers. Coinbase and Algorand, however, cite different reasons for the move. According to Waden’s tweet, Coinbase informed Algorand about the sudden termination of rewards for ALGO tokens on March 22, as the crypto

Centralized finance (CeFi) will continue to be an important avenue to drive the adoption of decentralized finance (DeFi) services in the future, but regulatory considerations remain a significant part of the process. This was a key theme that emerged during a panel titled ‘How to Do CeFi Right – the Balance Between TradFi & DeFi?’

The ongoing crisis and uncertainty around the global banking system could push the cryptocurrency market into a more gray area in terms of regulation, Circle chief executive believes. Jeremy Allaire, CEO of the USD Coin (USDC) issuer Circle, took to Twitter on March 23 to share his reflections regarding the market dynamics in the aftermath

On the evening of Jan. 7, Anatoly Legkodymov, founder of the cryptocurrency exchange Bitzlato, was arrested in Miami. The following day, the United States Department of Justice (DOJ) unsealed a complaint in federal court charging him with “conducting a money transmitting business that transported and transmitted illicit funds.” According to the DOJ, Bitzlato failed to

In the United States, crypto reform legislation isn’t the province of a single political party, and that’s why a former U.S. Congressman, who also played a prominent role in the Trump administration, believes that passage of a federal “digital assets” law this year is a real possibility. “Democrats aren’t all on one side; Republicans aren’t

Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong, as the city continues efforts to become a cryptocurrency hub.  Set to take effect in June, the Hong Kong Securities and Futures Commission (SFC) released a proposed licensing regime for cryptocurrency exchanges on Feb. 20 in line with its

Brian Armstrong, the CEO and co-founder of crypto exchange Coinbase has compared the Securities and Exchange Commission (SEC) to “soccer refs” in a game of pickleball, criticizing U.S. regulators for not being able to “agree on the rules” of “this new game.” The comments came after Armstrong revealed that his firm had been issued a

The United States commodities regulator has gotten a crash course on decentralized finance (DeFi) today, with crypto executives briefing the regulator on key issues affecting the space, including exploits, decentralization and digital identities. As part of a scheduled first meeting of the CFTC’s Technology Advisory Committee (TAC) in Washington D.C., members from the crypto space

United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch. In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for

Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year. As previously reported, FTX’s sister trading firm, Alameda Research was understood to have invested around $400 million in Modulo in 2022 — one

Crypto exchange Coinbase said it received a ‘Wells Notice’ from the United States Securities and Exchange Commission recommending the regulator take enforcement action. In a March 22 blog post, Coinbase said the “legal threat” could potentially target the exchange’s staking program Coinbase Earn, listed digital assets, its wallet, or Coinbase Prime services. A Wells Notice

The United States Securities and Exchange Commission, or SEC, has called for a jury trial against Tron founder Justin Sun for the “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.” In a March 22 filing in U.S. District Court for the Southern District of New York, the

United States Senators Elizabeth Warren and Ron Wyden have cited the recent collapse of three major banks to call on the Public Company Accounting Oversight Board to “rein in” audits of crypto firms. In a March 21 letter to Public Company Accounting Oversight Board chair Erica Williams, Warren and Wyden reiterated concerns over “shady audits”

The metaverse continues to be a hot topic in the Web3 space, as a group of industry professionals took to the Venus de Milo stage at Paris Blockchain Week 2023 to discuss the future of digital reality.  In the panel “Metaverse Regulation: Dos and Don’ts,” the group discussed how regulators around the world might interpret

The first day of Paris Blockchain Week (PBW) is bringing more thoughts on the ongoing crisis in the global banking system, with industry executives comparing the collapses of major cryptocurrency firms like FTX with the fall of banks like Silicon Valley Bank (SVB). On March 22, PBW hosted a panel discussion titled “FTX, Luna, Celsius,

Russia-linked cryptocurrency exchange Bitzlato has partially restored access to user funds despite being officially seized by European authorities. Bitzlato has enabled its users to withdraw up to 50% of assets stuck on the platform due to enforcement from the United States and Europol, the firm announced on its Telegram channel on March 20. According to

Lawyers representing a class-action lawsuit against “BitBoy Crypto” YouTuber Ben Armstrong and other crypto influencers for allegedly promoting crypto exchange FTX claimed Armstrong has made multiple threats against them. A March 20 court filing by the class action’s lawyers in a Florida District Court claimed Armstrong “began harassing” the lawyers after the suit was filed

Republican Senator Ted Cruz has introduced a bill to block the United States Federal Reserve from launching a “direct-to-consumer” central bank digital currency (CBDC). In a March 21 statement, Cruz said he introduced the bill to prevent the Fed from developing a retail CBDC “which could be used as a financial surveillance tool by the