Regulation

The U.S. House Financial Services Committee will hear how the Securities and Exchange Commission (SEC) is changing its oversight and rules to keep pace with technological advancements including cryptocurrencies and artificial intelligence. SEC chair Gary Gensler is set to outline how the U.S. securities regulator is updating its rules to align with “technology and business

The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan. Bankruptcy Judge Michael A. Kaplan approved BlockFi’s third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the same day shows. Sept.

The Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury has added a crypto wallet allegedly connected to a major international crime syndicate as part of its list of Specially Designated Nationals. In a Sept. 26 announcement, the U.S. Treasury said it had sanctioned 10 individuals, including many tied to

Hours after the crypto exchange HTX (rebranded from Huobi) reported a hack that resulted in a loss of $8 million, Changpeng ‘CZ’ Zhao offered the help of the Binance security team in investigating the attack.  Timely intervention is key to tracking down and retrieving stolen cryptocurrencies as hackers attempt to hide their tracks using mixers

The United States government could be shut down in the next 7 days with House Speaker Kevin McCarthy facing political pressure from members of his own party on how to handle spending plans — a decision that could adversely affect how lawmakers move forward with crypto bills awaiting a vote. In July, U.S. lawmakers with

China is looking to build artificial intelligence (AI) chip factories for creating particle accelerators to help bypass sanctions affecting the local industry, according to a report from the South China Morning Post (SCMP).  Using particle accelerators will help create new ways to produce a novel laser source. The SCMP reported that the electron beam of

Hong Kong’s financial regulator, the Securities and Futures Commission (SFC) has vowed to step up its efforts to combat unregulated cryptocurrency trading platforms in its jurisdiction According to a Sept. 25 announcement, the SFC said it will publish a list of all licensed, deemed licensed, closing down and application-pending virtual asset trading platforms (VATPs) to

Dubai-headquartered cryptocurrency exchange Bybit has announced the suspension of services to the United Kingdom in response to pending rules from the country’s Financial Conduct Authority, or FCA. In a Sept. 22 announcement, Bybit said it will start suspending services to U.K. residents on Oct. 1 by no longer allowing new account applications. This move will

Cryptocurrency exchange Coinbase has secured an Anti-Money Laundering (AML) compliance registration from Spain’s central bank, as part of its ongoing expansion across Europe. According to a Sept. 22 statement, the registration with the Bank of Spain now means that users in Spain will be able to retain custody of their crypto assets on Coinbase, as

A law firm that previously provided services to the now-defunct cryptocurrency exchange FTX has refuted a class-action lawsuit brought against them claiming that it assisted in the exchange’s alleged fraudulent activities.  According to a Sept. 21 court filing, Fenwick & West, a United States law firm, denies all accusations of misconduct related to the provision

Top Stories This Week SEC sees temporary setback in request to access Binance.US software The United States Securities and Exchange Commission has failed to win immediate access to Binance.US’s software, with the judge saying he isn’t “inclined to allow the inspection at this time.” The hearing was held on Sept. 18 to discuss the SEC’s

Brian Armstrong, the CEO of crypto exchange Coinbase, expressed his stance on artificial intelligence (AI) regulation in a recent post on the social media platform X (formerly Twitter).  On Sept. 23, Armstrong explained that he believes that AI should not be regulated. According to the Coinbase CEO, the AI space needs to develop as soon

Architect Financial Technologies, the startup founded by former FTX US president Brett Harrison, will provide derivatives brokerage services following its Architect Financial Derivatives subsidiary receiving approval from the National Futures Association (NFA) to operate as an independent introducing broker. The company is eyeing both the cryptocurrency derivatives market and the traditional market, Harrison said. An

United States regulators including the Securities and Exchange Commission (SEC) have ongoing civil cases against major cryptocurrency firms including Binance, Coinbase, and Ripple, but not every company has been subject to the same treatment. Gary Gensler, serving as SEC chair since 2021, has been widely criticized by many lawmakers and industry leaders for a “regulation

The bankruptcy claims market has been growing bullish on the debts of the collapsed cryptocurrency exchange FTX as major credit investors have been rushing to buy FTX debts. Investors like Silver Point Capital, Diameter Capital Partners and Attestor Capital have purchased more than $250 million worth of FTX debts so far in 2023, Bloomberg reported

Binance CEO Changpeng “CZ” Zhao have filed a petition requesting that the lawsuit made against him and his cryptocurrency exchange by the United States Securities and Exchange Commission (SEC) be dismissed.  According to a Sept. 21 filing to the United States District Court, both Binance Holdings and Zhao claimed that the financial regulatory had overstepped its authority in

A federal judge has sided with the United States Department of Justice in motions aimed at precluding the testimony of 7 witnesses on behalf of former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 21 filing with U.S. District Court for the Southern District of New York, Judge Lewis Kaplan granted in limine motions

An executive at the cryptocurrency exchange Binance said in a public hearing with the European Banking Authority (EBA) that it plans to delist stablecoins for the European market by June 2024.  Marina Parthuisot, the head of legal at Binance France, said that since no project has yet to receive approval, “we are heading to a

The Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings against Bit Trade, the provider of the Kraken crypto exchange in Australia, for failing to comply with design and distribution obligations for one of its trading products.  According to a Sept. 21 media release from ASIC, the Australian financial regulator alleged that Bit Trade

Debate in the United States House Financial Services Committee during the markup of the CBDC Anti-Surveillance State Act on Sept. 20 occasionally wandered beyond strictly financial and technical issues. Star Wars and anarchists were mentioned in the discussion at various points, as were crypto bros. Beneath the rhetoric, the value of research, U.S. citizens’ privacy