Regulation

The Inspector General’s Office (OIG) of the Federal Deposit Insurance Corporation (FDIC), the independent United States government body that provides deposit insurance to commercial and savings banks, has published an evaluation report on the corporation’s crypto asset risk strategy. A redacted version of the report has been released to the public.  The FDIC adopted a

The Bank for International Settlements’ (BIS) Project Atlas report offers yet another indication that the worlds of crypto and traditional finance may be converging. On the surface, this proof-of-concept project backed by some of Europe’s biggest central banks — like German central bank Deutsche Bundesbank and Dutch central bank De Nederlandsche Bank — seems modest

The use of cryptocurrency by Hamas militants to fund recent attacks on Israel may have set back Coinbase’s crypto lobbying efforts in the United States, says a new investment report from Berenberg Capital Markets.  In an Oct. 18 research note, Berenberg lead analyst Mark Palmer said the primary driver of his “cautious stance” towards Coinbase

North Carolina Representative Patrick McHenry, chair of the United States House Financial Services Committee and crypto proponent in Congress, is still temporarily in the third most powerful role in government after one of his Republican colleagues failed to secure enough votes. In a vote conducted with members of the U.S. House of Representatives on Oct.

British citizens that hope to access legal assistance through the proposed ‘Help with Fees’ (HwF) scheme will not have cryptocurrency holdings classified as disposable income. The Ministry of Justice published its response following public consultation over its proposed legal aid scheme aimed at providing equal access to the justice system. HwF is aimed at providing

Customers of bankrupt crypto exchange FTX and FTX US could see over 90% of assets returned to them by the end of the second quarter of 2024 after a proposed settlement was reached between FTX creditors and debtors. On Oct. 17, FTX debtors said they reached a “major milestone” in their Chapter 11 case after

Nishad Singh, the former engineering director at now-defunct crypto exchange FTX, has reportedly said he “hopes for no jail time” as part of an agreement with prosecutors. According to reports from the criminal trial of Sam “SBF” Bankman-Fried on Oct. 16, Singh revealed details about his deal with the United States Justice Department which had

The Reserve Bank of Australia (RBA) is open to using a central bank digital currency (CBDC) as the future of money, where state-issued digital money would represent a tokenized form of central bank reserves. In a speech titled “A Tokenised Future for the Australian Financial System,” Brad Jones, assistant governor (financial system) of the RBA, talked about

Australian crypto exchanges have praised plans from the Australian Treasury to regulate cryptocurrency exchanges under pre-existing financial services licensing measures. In an Oct. 16 consultation paper, the Treasury outlined a new suite of proposed regulations, that suggested regulating cryptocurrency exchanges under existing financial services rules as well as introducing a wealth of new guidelines for

A new hook available on an open-source directory for Uniswap V4 hooks is sparking controversy within the crypto community. The hook enables users to be checked for Know Your Customer (KYC) before they can trade on a pool. Criticizing the hook, a user at X (formerly Twitter) noted that the hook opens up the possibility

California Governor Gavin Newsom has approved a cryptocurrency bill that enforces stricter regulations on businesses conducting crypto operations set to begin in 18 months.  In a statement published on October 13, Newsom declared that the bill titled the ‘Digital Financial Assets Law,’ would make it mandatory for both individuals and firms to obtain a Department

China has released draft security regulations for companies providing generative artificial intelligence (AI) services, encompassing restrictions on data sources used for AI model training. On Wednesday, Oct. 11, the proposed regulations were released by the National Information Security Standardization Committee, comprising representatives from the Cyberspace Administration of China (CAC), the Ministry of Industry and Information

Coinbase has doubled down on its push for a court order compelling the United States Securities and Exchange Commission (SEC) to act on the firm’s crypto rulemaking petition. Coinbase wants a mandamus issued within 30 days to compel the SEC to give an official answer on whether it will accept or deny the petition. The

A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX.  The full-length recording, obtained by Cointelegraph, provides fresh insights into the palpable tension felt by Ellison and Alameda staff in the lead-up to FTX’s collapse.

Lawyers representing former FTX CEO Sam “SBF” Bankman-Fried are seeking to bring up certain information from the crypto exchange’s terms of service during witness testimonies. In an Oct. 12 filing in United States District Court for the Southern District of New York, SBF’s legal team said the motion was aimed at addressing “address certain evidentiary issues”

On Oct. 12, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), part of the French Central Bank, published a summary of its public consultation on a regulatory framework for decentralized finance (DeFi). The public consultation lasted two months, from April to May 2023, in response to the initial paper discussing possible regulations for DeFi

James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not

Anonymous hackers of the now-defunct exchange FTX have been moving large amounts of assets stolen from the platform, with new transactions occurring just as the ongoing trial of FTX founder Sam Bankman-Fried gets underway. As much as 72,500 Ether (ETH) of stolen assets from FTX has awakened for the first time since the exchange was hacked

BarnBridge decentralized autonomous organization’s (DAO) members have conducted their voting on how to react to the United States Securities Exchange Commission’s (SEC) potential demands.  The voting ended on Oct. 12 with an unanimous decision to comply with the SEC’s potential demands and pay fines if necessary. Tyler Ward and Troy Murray were nominated as DAO’s

Seven members of the United States Senate have called on the Treasury Department and Internal Revenue Service (IRS) to advance a rule imposing certain tax reporting requirements for crypto brokers “as swiftly as possible”. In an Oct. 10 letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, a group of U.S. senators including