Regulation

Gary Gensler, the United States Securities Exchange Commission (SEC) chair, recently appeared before the U.S. House of Representatives Financial Services Committee for a hearing regarding his leadership of the regulatory agency.  The hearing, with Gensler as the only witness, promised to be unpleasant for the SEC chair, with the federal agency’s actions during Gensler’s leadership

The American banking giant JP Morgan Ch is set to acquire all the assets of First Republic Bank (FRC) after early efforts to rescue it failed. JPMorgan, along with multiple other banks, submitted a bid to acquire the assets of troubled FRC on April 29. The California Department of Financial Protection and Innovation closed FRC

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa and Coinbase – to “self-correct” and “appropriately address” weaknesses in its lending activities. On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, alleging that

The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse. Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy and strengthen public confidence

An executive at JPMorgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Bank (FHLB) emergency lending programs expire – warning that the possible collapse of First Republic Bank may cause a domino effect. In an April 27 Bloomberg television

Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains. The paper, dubbed simply “Crypto

At the intersection of tech and cryptocurrency news, the Google for Startups Cloud Program has expanded to include 11 blockchain firms. Together, the entities will provide grants, expertise and services to emerging Web3 entrepreneurs. Meanwhile, the United Kingdom government has allocated $125 million in funding for a task force aimed at accelerating the country’s artificial intelligence

Patrick McHenry, the Chairman of the House Financial Services Committee, has announced a series of joint hearings in May that will focus on addressing the market structure around digital assets in the U.S. The move was revealed via a joint announcement on April 27 from Congressman McHenry, Glenn Thompson, Chairman of the House Agriculture Committee,

Bank regulators in the United States have turned from introspection to confession after the high-profile bank failures in March. The New York Department of Financial Services (NYDFS) published its internal review of Signature Bank supervision on April 28, the same day the U.S. Federal Reserve Board released its review of the handling of Silicon Valley

As cryptocurrencies continue to become a bigger part of the global economy, more and more governments are exploring ways to regulate the industry and construct rules for firms operating in the space. There have been some significant regulatory developments in recent weeks, with the European Parliament approving the Markets in Crypto-Assets (MiCA) regulations on April 20,

The former CFO of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million that was used to trade cryptocurrencies and “meme stocks.” An April 27 press release from the Department of Justice (DOJ) said Cooper Morgenthau, the ex-CFO of African Gold Acquisition Corp. (AGAC), embezzled more than

Executives of cryptocurrency exchange Coinbase took their company’s regulatory issues to the public on April 27, with chief legal officer Paul Grewal speaking at Consensus 2023 and appearing with CEO Brian Armstrong in a video released on YouTube. The appeal was in response to a Wells notice received by the firm, a notification by the

Whatever happened to EOS? After the biggest ICO in history, the former top 10 token now languishes around number 53. But the community has since taken back control and is determined to restore the smart contract platform to its former glory. If you’re a newcomer to the crypto industry, you may not even be familiar

The Hong Kong Securities Futures Commission (SFC) is reportedly set to release cryptocurrency exchange licensing guidelines next month. The plans were reported by Bloomberg on April 27, which cited comments from the SFC’s chief executive Julia Leung on Thursday. The incoming guidelines will provide support to crypto trading platforms that will be able to offer

In 2022, Massachusetts Senator Elizabeth Warren authored a bill that would require cryptocurrency wallet providers to comply with bank Anti-Money Laundering rules. No crypto exchanges, mind you, but the wallets themselves. Kansas Senator Roger Marshall joined her on the proposal as a co-sponsor. Sadly, Marshall betrayed the populist principles he ran on as a candidate.

Name: Gabriel Haines Anonymous: No Twitter followers: 45,300Known for: satirical ranting, shiting posting, and comedic content Who is Gabriel Haines anyway?  Gabriel Haines is a content creator, podcaster and Crypto Twitter shitposter who has a proclivity for ripping off his shirt in videos and ranting about the market in a goofy and comedic fashion.  His entertainment value

The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The video came from a “Blockchain and Money” class in the Fall Semester of 2018

Roughly 100 people answered the call from the crypto advocacy groups Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council to show Texas lawmakers they were against legislation targeting crypto mining firms. Gathering at the Texas Capitol in Austin on April 25, crypto enthusiasts, state lawmakers, industry leaders, and even a few members

Troubled digital currency company Genesis Capital saw its settlement disrupted by creditors in two months after the initial agreement, raising concerns about the timing of the process. Genesis’ parent company, Digital Currency Group (DCG), took to Twitter on April 25 to issue a statement on Genesis filing a motion for mediation. The firm said that

A “fast track” option for licensed crypto firms in France to get regulated under the upcoming Markets in Crypto-Assets (MiCA) laws has been mulled by the country’s financial regulator. In a statement published on April 21, the French Financial Markets Authority (AMF) welcomed the approval of MiCA and outlined how French regulation will proceed during