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Fed policy to align bank oversight could limit crypto activities by state banks
27.1.2023
The new policy would align the allowable activities for insured and uninsured state banks and OCC-supervised national banks by making rules for state banks more restrictive
CFTC's Johnson urges Congress for expanded powers in crypto oversight
27.1.2023
Johnson wants to protect customers in a way that reduces the risk of crises, and proposes a number of amendments to existing crypto regulation
Sens. Warren, Wyden question quality of auditors’ oversight in light of FTX debacle
26.1.2023
The senators coauthored a letter to the Public Company Accounting Oversight Board chair asking how FTX and other crypto firms were audited and why the audits failed so badly
Japan Urges Regulators Worldwide to Subject Crypto Exchanges to Bank-Level Oversight
19.1.2023
Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal...
Bank of France Governor Calls for Mandatory Licensing for Crypto Companies
8.1.2023
France has to adopt a licensing regime for crypto service providers, the head of the country’s central bank has suggested. According to the executive, the need to tighten regulatory oversight stems from the “disorder” in the industry throughout the past year. Licensing Should Replace Registration...
Israel’s Securities Watchdog Seeks to Regulate Crypto Assets
6.1.2023
The body overseeing the securities market in Israel is taking steps to incorporate rules for digital assets into the existing legislation. The regulator released a draft proposal to introduce the changes that would define the legal status of cryptocurrencies in the country. Amendments to Israel’s...
FTX collapse calls for 'prudent regulation' in the UK
26.12.2022
The United Kingdom is taking cautionary lessons from the collapse of FTX as calls for greater regulation come from public and private sector institutions
SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries
19.12.2022
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC)...
US Financial Stability Oversight Council urges congressional action on crypto
16.12.2022
According to the FSOC, issues at FTX had “precipitated price decreases in Bitcoin and other crypto-assets” but “had a limited impact on the broader U.S. financial system.”
FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF’s Bail
14.12.2022
On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was...
Canadian Securities Regulators to Strengthen Crypto Oversight After FTX Collapse
13.12.2022
The country's securities regulatory body will consider enforcement action if crypto companies do not comply
European Union to Put a 10,000-Euro Limit on Cash Payments; Transactions Over €1,000 in Crypto Will Be Scrutinized
10.12.2022
The states of the European Union have convened to establish a new limit on cash purchases and to strengthen the controls on cryptocurrency transactions. On Nov. 6 the bloc agreed to put a limit of €10,000 ($10,557) on cash payments and to exert stronger oversight on crypto transactions of over...
UK Regulator Is Firming Up Its Approach to Crypto Oversight
7.12.2022
The Payment Systems Regulator will be looking at what happens if a crypto payment system goes wrong and the measures needed to protect consumers against fraud, Nick Davey, a Payment Specialist, told CoinDesk in an interview
Uzbekistan Approves Rules for Issuance and Circulation of Crypto Assets
3.12.2022
The authority responsible for crypto oversight in Uzbekistan has determined the order of issuing and circulating digital assets in the country. The main reason behind the move is to establish a mechanism that would allow local companies to attract capital through coins and tokens. Uzbekistan...
SEC chair's crypto oversight strategy in question as ecosystems collapse
26.11.2022
Congressman Tom Emmer showed concerns about the oversight strategy implemented by Gary Gensler, the chair of the U.S. Securities and Exchange Commission for the crypto ecosystem
Russia Prepares to Create Government-Controlled Crypto Exchange
24.11.2022
Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in the billions of rubles, pointed out one of...
Proof-of-reserves: Can reserve audits avoid another FTX-like moment?
19.11.2022
Crypto exchanges are actively releasing proof-of-reserves audits in order to build transparency but experts believe it would take more than that to regain investor trust
Regulator Halts Trading of FTX Tokens in Indonesia
17.11.2022
The agency overseeing Indonesia’s crypto market has stopped the trading of FTX tokens on domestic platforms. The announcement comes after FTX, the exchange that issued the FTT token, filed for bankruptcy in the United States and was subjected to investigations by regulatory bodies around the world....
US Treasury Secretary Janet Yellen Says Crypto Markets Need More ‘Effective Oversight’ Following FTX Implosion
17.11.2022
As the collapse of major exchange FTX continues to fuel a bearish mood throughout the cryptosphere, US Treasury Secretary Janet Yellen has called for the introduction of tighter regulations for the crypto market.
“The recent failure of a major cryptocurrency exchange and the unfortunate impact...
Health of FTX’s US Derivatives Arm Owed to Oversight, Says CFTC Chief Behnam
14.11.2022
FTX’s U.S. derivatives-trading subsidiary – the former LedgerX – remains standing while other parts of Sam Bankman-Fried’s empire crumble, and that should be credited to its government oversight, said Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC)