Regulation

Terraform Labs and its founder, Do Kwon, are in the sights of the United States Securities and Exchange Commission (SEC), which has sparked various reactions from lawyers within the crypto community.  On Feb. 16, the SEC accused and charged Kwon and Terraform Labs for allegedly selling a “suite of crypto asset securities.” While community members

Former FTX CEO Sam Bankman-Fried could “conceivably” have his bail revoked after a federal judge said there was “probable cause” to believe he may have engaged in attempted witness tampering.  In the Feb. 16 hearing on Bankman-Fried’s bail conditions, Judge Lewis Kaplan said there was “probable cause to believe that he [Bankman-Fried] has committed or

Debtors for crypto lender Celsius Network have the authority to sell coupons for mining firm Bitmain coupons worth roughly $7.4 million following a ruling from a bankruptcy judge. In a Feb. 16 court filing, United States Bankruptcy Judge Martin Glenn said it was in the “best interests of the Debtors’ estates, their creditors, and other

The Financial Stability Board (FSB), the financial regulator funded by the Bank for International Settlements (BIS), is pushing international regulations for decentralized finance (DeFi). The FSB on Feb. 16 issued a report on the financial stability risks of DeFi, highlighting major vulnerabilities, transmission channels and the evolution of DeFi. Despite providing many “novel” services, DeFi

A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future. The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule”

A federal judge has allowed identities of guarantors who signed on sureties for former FTX CEO Sam Bankman-Fried’s $250 million bond to be made public following a request from several news outlets. Court documents released on Feb. 15 showed that the two previously unidentified individuals were Andreas Paepcke, a senior research scientist at Stanford University

As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists: The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission (SEC) and Kraken are

The decentralized autonomous organization (DAO) behind Lido — the largest Ethereum staking pool — is deliberating whether it should sell or stake the $30 million in Ether (ETH) from its treasury. A proposal was submitted on Feb. 14 by the DAO’s financial unit, Steakhouse Financial that considers four choices, one of which contemplates staking part

United States Federal Reserve Board Vice Chair Lael Brainard has been chosen to be the director of the National Economic Council, making her President Joe Biden’s top economic adviser, according to media reports. In her new position, Brainard will oversee the implementation of the Biden administration’s multibillion-dollar economic agenda, which includes the Bipartisan Infrastructure Law and

Indian authorities once again demonstrated their tough stance on cryptocurrencies with a preemptive ban on crypto advertising and sponsorships in the local women’s cricket league.  As reported by Planet Sport on Feb. 14, the Board of Control for Cricket in India (BCCI) sent a 68-page advisory to the Women’s Premier League teams, specifying the activities

A New York judge has granted a request from prosecutors to defer civil proceedings from the Commodities Futures Trading Commision (CFTC) and the Securities Exchange Commision (SEC) until after Sam Bankman-Fried’s criminal trial in October. U.S. District Judge of Manhattan Kevin Castel on Feb. 13 granted the motions to stay the civil proceedings “without prejudice,”

The European Parliament has released a report on a draft bill proposing that banks holding cryptocurrencies set aside a large amount of capital in an effort to address potential risk. In a Feb. 9 notice, European Union lawmakers said any framework applied to crypto assets should “adequately mitigate the risks of these instruments for the

The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program.  In a recent announcement, the CBUAE introduced the FIT program and highlighted its aim to support the country’s financial

The United States Securities and Exchange Commission (SEC) has reportedly told stablecoin issuer Paxos Trust Co. it’s planning to sue the firm for violation of investor protection laws in relation to Binance USD (BUSD).  According to a Feb. 12 report in The Wall Street Journal citing people familiar with the matter, the SEC issued a

What is monetary policy? Monetary policy refers to the actions taken by a central bank or monetary authority to manage the supply of money and interest rates in an economy, with the aim of promoting economic growth and stability. To affect the price and accessibility of credit, this may entail altering the money supply, setting

The Consumer Federation of California (CFC), a nonprofit advocacy organization working for consumer rights, sponsored a bill that seeks to license and regulate the activities of cryptocurrency exchanges. The legislation demanding regulatory oversight of crypto businesses — the Digital Financial Assets Law — was introduced by Assemblymember Timothy Grayson with the aim of protecting Californians

Rumors of an impending crypto ban came to fruition on Feb. 9 with the Securities and Exchange Commission’s enforcement action against Kraken, which resulted in a settlement where the exchange agreed to end its staking services for American users. The action will likely extend to all companies based in the United States. Reactions were predictable

The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — have released a report on the company’s physical assets in the island nation. According to an affidavit filed by a PricewaterhouseCoopers partner with the Bahamas’ supreme court on Feb. 8, FTX’s joint provisional liquidators, or JPLs, said the company

Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining hubs, announced plans to introduce new crypto regulations to reduce tax fraud and unlawful business operations. A new law signed by Kazakh President Kassym-Jomart Tokayev on Feb. 6 reinstated the nation’s stand against the unlawful mining operations and issuance of crypto assets. Out of the two distinct

The parts that make up the cryptocurrency ecosystem are not all equal, United States Federal Reserve Board governor Christopher Waller told a conference audience on Feb. 10. He had clear preferences among the three elements of the ecosystem that he identified. Waller was hosted by the Global Interdependence Center at its “Digital Money, Decentralized Finance,