Regulation

Francois Villeroy de Galhau, the Bank of France’s governor, has urged for more stringent licensing requirements for crypto companies in France, citing the current turmoil in the crypto markets. During a speech in Paris on Jan. 5, the central bank governor said France shouldn’t wait for upcoming EU crypto laws to enact obligatory licensing for

Daniel Friedberg, controversial lawyer who served as top compliance chief at now-defunkt exchange FTX, has reportedly cooperated with United States’ prosecutors investigating FTX collapse. Friedberg provided details about FTX in a meeting with two dozen investigators hold by the U.S. Attorney for the Southern District of New York’s (SDNY) office on Nov. 22, Reuters reported.

The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange. According to a Jan. 4 report from Reuters, U.S. officials told a judge they were in the process of

The United Kingdom’s National Crime Agency (NCA) is taking measures to increase its focus on cryptocurrency crimes and combat criminals. NCA’s cyber-focused command, the National Cyber Crime Unit (NCCU), is launching a dedicated cryptocurrency unit to investigate U.K. cyber incidents involving the use of cryptocurrencies like Bitcoin (BTC). Called “NCCU Crypto Cell,” the crypto-focused unit

United States federal bank regulatory agencies started off the new year with a statement on crypto assets looking back at the troubles of the crypto sector in 2022. The Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint statement on Jan. 3 on past

Business intelligence firm MicroStrategy made headlines ahead of New Year’s Eve as the sale of a portion of its Bitcoin (BTC) holdings drew the attention of industry experts and critics. A regulatory filing with the United States Securities and Exchange Commission (SEC) on Dec. 28 detailed the first time the firm sold some of its

Although having been granted the opportunity to enjoy Christmas and the New Year with his family, former FTX CEO Sam Bankman-Fried has very few reasons for optimism in 2023. The United States Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from FTX and its U.S.-based

The United States economy could be in for an upset. Data from a Wall Street Journal survey revealed financial experts expect the country to face an economic downturn this year. Over two-thirds of economists at 23 major financial institutions that do business with the Federal Reserve believe the U.S. will have a “shallow” or “mild”

Former FTX CEO Sam Bankman-Fried may not be able to offset the two counts of wire fraud and six counts of conspiracy he faces with the credits to be received if he enters a guilty plea instead of going to trial.  Set to appear in court in the first days of January to enter a

Proof of reserves (PoR) has gone from a buzzword to a roar in recent weeks as the crypto world tries to recover from the shock and losses of the current crypto winter. After a flurry of discussion and work, criteria and rankings for adequate PoR are beginning to appear, but the fine points of how

Legislators in the United States seem to be reevaluating the crypto industry and its regulatory needs in light of FTX’s collapse. According to the Wall Street Journal, since the crypto exchange filed for bankruptcy in November, lawmakers have been under pressure to set a new regulatory framework for cryptocurrencies.  Several proposals are in the works

Former FTX CEO Sam Bankman-Fried (SBF), currently free on a $250 million bail bond, will reportedly plead not guilty to the alleged FTX and Alameda-related financial frauds in court on Jan. 3. SBF was arrested in the Bahamas at the request of the U.S. government under suspicion of defrauding investors and misappropriation of funds held

The Central Bank of the Republic of Turkey (CBRT) has completed the first trial of its central bank digital currency (CBDC), the Digital Turkish Lira, and has signaled plans to continue testing throughout 2023.  According to a statement released by the CBRT on Dec. 29, the central bank authority said it successfully executed its “first

Former FTX CEO Sam Bankman-Fried met with government officials at the White House on at least four separate occasions in 2022, one of which reportedly occurred just two months before the fall of his crypto empire. Most of the meetings were disclosed in visitor logs that are posted by the White House every month, with

Avraham Eisenberg was arrested in Puerto Rico on Dec. 26 on commodities fraud and manipulation charges relating to the $110 million exploit of the decentralized Mango Markets exchange. Eisenberg had self-identified as the actor behind what he called a “highly profitable trading strategy” and insisted that he had taken “legal open market actions, using the

A newly elected pro-Bitcoin Prime Minister has taken office in the Pacific Islands of Fiji. The new leader, Sitiveni Rabuka, took the Fijian office on Dec. 24.  Lord Fusitu’a, a Tongan noble and a former member of the Tongan parliament, took to Twitter to share the news from his neighboring nation. Fusitu’a stated that he

With the FTX collapse leaving many users yearning for the return of lost funds, scammers are using the opportunity to take advantage of already injured victims by posing as government officials.  In a press release, the Oregon Division of Financial Regulation (DFR) warned crypto investors that fake applications and websites put up by scammers are

While the government agencies are queuing to sue the FTX and its founder Sam Bankman-Fried, the group of former customers made an effort to get their money back first. A class lawsuit initiated by four individuals demands priority access to frozen funds of the company for its customers, not investors.  The lawsuit was filed on

According to a Dec. 27 Bloomberg report, the United States Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from now-defunct cryptocurrency exchange FTX and FTX US. On Nov. 12, amid its bankruptcy and internal collapse, FTX warned customers of abnormal wallet activity regarding at least 228,523

After the height of the FTX collapse, the Philippine government warned investors within the country about using unlicensed crypto exchanges.  The Securities and Exchanges Commission (SEC) in the Philippines issued an advisory to the public against using unregistered cryptocurrency exchanges that are operating within the country. Within the warning, the SEC did not directly mention