Regulation

United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term. In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011
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United States congressman Brad Sherman, a known crypto skeptic, has pointed the finger at “billionaire crypto bros” for slowing down much-needed cryptocurrency regulation.  In a Nov. 13 statement addressing the collapse of crypto exchange FTX, Sherman said the exchange’s implosion has demonstrated the need for regulators to take immediate and aggressive action: “The sudden collapse
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Just days after Binance CEO Changpeng “CZ” Zhao warned about the onset of greater regulatory scrutiny amid the FTX collapse, the Financial Secretary of Hong Kong called for a stronger focus on transparency and proper supervision when dealing with virtual assets. Financial Secretary Paul Chan highlighted the importance of being “steady and cautious” when promoting
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To counter the rising mistrust among crypto investors following the FTX collapse, crypto exchanges unanimously decided to share proof of reserve with the public as a way to showcase legitimacy. However, certain anomalies found during on-chain investigations suggest foul play and market manipulation. Just two days after Crypto.com made its cold storage information public, investigators
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FTX former CEO Sam Bankman-Fried, co-founder Gary Wang and director of engineering Nishad Singh are understood to be in the Bahamas and are “under supervision” by the local authorities.  The source familiar with the matter told Cointelegraph that the three former FTX executives, as well as Alameda Research CEO Caroline Ellison, are looking for ways
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The White House said the administration of United States President Joseph Biden is monitoring the situation with the recent crypto market crash but deferred to independent regulators for any potential enforcement actions. In a Nov. 10 press briefing, White House Press Secretary Karine Jean-Pierre said Biden was aware of the ongoing situation with the crypto market,
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The Bahamas Securities Commission (BSC) — the country’s securities regulator — froze the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10 and suspended FTX’s registration in the country. In a statement the BSC said it was aware of “public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda
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Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection amid FTX facing liquidity issues. In a Nov. 10 statement, Waters cited FTX’s difficulties as the latest example of incidents “involving the collapse of cryptocurrency companies” and how such events
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Results from many election races for seats in the United States Senate and House of Representatives are still coming in, but a number of candidates who have expressed staunch views on digital asset regulation won on Nov. 8. Some of crypto’s most outspoken supporters at the local and federal level, including Wyoming Senator Cynthia Lummis
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European Parliament economics committee member Stefan Berger has compared the current situation with FTX to the 2008 financial crisis, using “such Lehman Brothers moments” in justifying the need for regulating crypto. In a Nov. 9 tweet, Berger said proper regulation was needed to avoid issues which “cost enormous trust” in the crypto space, amid FTX
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A new blockchain and cryptocurrency-focused association has been launched within Abu Dhabi’s free economic zone that aims to further the development of blockchain and crypto ecosystems across the Middle Eastern, North Africa, and Asian regions. The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) was officially launched on Nov. 8 in the Abu
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