4 Reasons Why Lawmakers Shouldn’t Back Sen. Warren’s Latest Crypto Bill
The Digital Asset Anti-Money Laundering Act is unworkable and assuredly unconstitutional.
Former SEC Chief Counsel Says Agency Needs to Make Clear Its Crypto Compliance Rules
TuongVy Le, a partner and head of regulatory & policy at investment firm Bain Capital, says the agency is refraining from passing a rules-based framework and has to make it clear what digital assets it would deem compliant under its jurisdiction.
US lawmakers and experts debate SEC’s role in crypto regulation
Senator Tim Scott questioned whether the SEC had been “asleep at the wheel” amid major bankruptcies in the crypto space causing the loss of millions in user funds.
Bitcoin price clings to $22K as investors digest the recent SEC actions and CPI report
Bitcoin price recaptured the $22,000 level, but pending regulatory action against stablecoins and today’s CPI report are front of mind for many investors.
Sam Bankman-Fried’s use of a VPN on Super Bowl Sunday ‘raised concerns’, say prosecutors
Lawyers representing the former FTX CEO and U.S. prosecutors requested until Feb. 17 to discuss the impact using a VPN could have on Bankman-Fried’s bail conditions.
SEC to Make it Harder for Hedge Funds to Work With Crypto Firms: Bloomberg
The rule change would make it harder for crypto firms to become “qualified custodians,” according to the report.
Morgan Stanley: Falling Stablecoin Issuance Is Negative Sign for Crypto Trading
U.S. regulatory efforts are likely to focus on stablecoin regulation, the report said.
Circle blew the whistle on Binance reserves to NYDFS: Report
The company’s complaint to the New York regulator reportedly came before the SEC’s lawsuit against Paxos over BUSD and NYDFS ordering the firm to “cease minting” the stablecoin.
Algorand Foundation CEO: SEC’s Crypto Crackdown Highlights Lack of Regulatory Clarity
Staci Warden says crypto-native firms are being punished rather than given guidance.
Proposed EU parliament rule could have banks apply 1,250% risk weight to crypto exposure
The proposed rule change, putting crypto at one of the highest risk ratings at financial institutions, could go into effect until December 2024.
FTX liquidators report exchange held $2.4M ‘fleet of vehicles’ in the Bahamas
The liquidators said they would “commence disposals” of certain FTX Digital physical assets following approval from the Bahamas’ supreme court.
SEC enforcement against Kraken opens doors for Lido, Frax and Rocket Pool
Kraken has put an end to staking as a service and Coinbse could eventually be forced to follow suit. Will this create opportunities for LDO, FXS and RPL?
US lawmakers question SEC chair on timing of Sam Bankman-Fried’s arrest
“The timing of the charges and his arrest raise serious questions about the SEC’s process and cooperation with the Department of Justice,” said Representatives McHenry and Huizenga.
SEC chair issues warning to crypto firms after action on Kraken staking
“Don’t have your hand in the customer’s pocket, using their funds for your own platform,” Gary Gensler said to companies that needed to register with the SEC.
Bitcoin price taps 3-week lows as SEC fears liquidate $250M of crypto longs
Panic over regulatory enforcement sees Bitcoin and altcoins give up recent gains, costing long traders over a quarter of a billion dollars in a single day.
Kraken reaches $30M settlement with SEC over staking as IRS seeks user information
“Kraken not only offered investors outsized returns untethered to any economic realities, but also retained the right to pay them no returns at all,” said Gurbir Grewal.
Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors
“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing.
Judge extends Sam Bankman-Fried’s bail restrictions on messaging apps: Report
The former FTX CEO’s bail restrictions will remain in place until Feb. 21 following the judge’s ruling to extend a ban on using certain messaging apps.
New Hampshire could become an alternative for crypto firms moving to the Bahamas
A state commission recommended that New Hampshire eliminate the gray area in which cryptocurrency companies currently operate.