Regulation

Yaya Fanusie, a cryptocurrency researcher and former CIA analyst, believes the United States government’s relatively slow start on central bank digital currency (CBDC) development may result in it losing its grip on the global financial system. Fanusie, the policy head at crypto advocacy group, the Crypto Council for Innovation, explained in a Feb. 28 Bloomberg interview,

Coinbase has launched a grassroots political campaign to promote pro-crypto policies, according to a Feb. 28 Twitter thread from the company. The company said that the #Crypto435 campaign is intended to “grow the crypto advocacy community and share tools and resources,” so that crypto users can make their voices heard in all 435 congressional districts.

According to a deputy governor, the United Kingdom is not ready to issue a central bank digital currency (CBDC) just yet, as the Bank of England (BoE) doesn’t have enough expertise. There is more than a 50% chance that the central bank of the United Kingdom would issue a CBDC, but the regulator doesn’t have

The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial

Robinhood Markets has confirmed that it had received an investigative subpoena from the United States Securities Exchange Commission (SEC) over its digital asset business’ crypto listings, custody and platform operations. In a 10-K filing, the brokerage said it received the investigative subpoena in December shortly after crypto exchange FTX filed for bankruptcy in November, and after

Binance branded stablecoin, Binance USD (BUSD), is a dollar-backed stablecoin issued by blockchain infrastructure platform Paxos Trust Company, and is the third largest stablecoin after Tether’s (USDT) and Circle’s USD Coin (USDC). Paxos has claimed in the past that BUSD is fully backed by reserves held in either fiat cash or United States Treasury bills.

Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm.  Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and

The Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) will deliver papers and recommendations establishing standards for a global crypto regulatory framework, announced on Feb. 25 the group of the 20 biggest economies of the world, collectively known as G20.  According to a document summarizing the outcomes

While FTX customers worldwide patiently await a conclusion to the FTX and Sam Bankman-Fried (SBF) litigation, users of FTX Japan have started withdrawing all of their funds. On Nov. 7, 2022, crypto exchange FTX and its subsidiaries slowed fund withdrawals after Changpeng Zhao, the CEO of Binance, announced the crypto exchange would liquidate its substantial holdings of

Grayscale Investments’ CEO Michael Sonnenshein stated he “can’t imagine” why the United States Securities and Exchange Commission (SEC) “wouldn’t want” to protect Grayscale investors and return the true asset value to them, in a recent podcast interview. In an interview with What Bitcoin Did, a popular podcast hosted by Peter McCormack, on Feb. 25, Sonnenshein

Top Stories This Week Unsealed superseding indictment against Sam Bankman-Fried includes 12 criminal charges Former FTX CEO Sam Bankman-Fried (SBF) was charged on four new criminal counts by a federal judge presiding over his case. According to a superseding indictment, there are now 12 criminal charges against Bankman-Fried, including eight conspiracy charges related to fraud

In a joint statement released by three United States federal agencies, the banking sector was advised against creating new risk management principles to counter liquidity risks resulting from crypto-asset market vulnerabilities. The Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC)

Lawyers representing former FTX CEO Sam Bankman-Fried in federal court have requested an extension to file a proposal related to his bail conditions. In a Feb. 24 filing with the United States District Court for the Southern District of New York, Mark Cohen of Cohen & Gressler said the legal team wanted until March 3

The Financial Action Task Force, or FATF, reported its delegates had come to an agreement on an action plan “to drive timely global implementation” of global standards on cryptocurrencies. In a Feb. 24 publication, the FATF said the plenary for the financial watchdog — consisting of delegates from more than 200 jurisdictions — met in

A United States District Court judge for the Southern District of New York ruled that emojis like the rocket ship, stock chart and money bags mean “a financial return on investment, ” according to a recent court filing.  In a tweet, former United States Securities and Exchange Commission (SEC) branch chief Lisa Braganca warned users of

Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong moves bullish On Feb. 20, the Securities and Futures Commission (SFC) of Hong Kong launched a consultation on its proposed regulatory requirements for digital asset trading platforms. The SFC requires the licensing by June of all cryptocurrency exchanges operating