Search results: CFTC

Survey reveals popularity of crypto ownership among voters, their hopes for the industry’s growing potential and the need for regulation to protect consumers.

There’s a power struggle over who regulates crypto in the US – and it could all depend on how the midterm elections go this year.

Web3 communities need to join forces with policymakers to draft rules for the next iteration of the online world, says Haun Ventures’ Tomicah Tillemann

Panelists at Forkast’s live-streamed event ‘Crypto Rising: The Role of Law: An International Debate post Tornado Cash’ co-hosted by the Crypto Council for Innovation (CCI) said attempting to regulate DAOs highlights the shortcomings of international enforcement.

Ooki DAO – you’ve probably never heard of it, but it could become one of the most important decentralized autonomous organizations – because of the rules it’s accused of breaking.

When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.

U.S. Congressman Brad Sherman, who chairs a House subcommittee on investor protection and a leading crypto skeptic in Washington, is seeking more stringent cryptocurrency regulation, if not all-out bans, according to a report by the LA Times. See related article:  CFTC, SEC seek input on hedge fund crypto reporting rules Fast facts In an interview […]

CME Group — the world’s largest operator of financial derivatives markets, including the Chicago Mercantile Exchange — has launched euro-denominated futures on Bitcoin and Ether. See related article: New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog Fast facts See related article: Here comes the crypto derivatives boom

Bitcoin gained along with most other top 10 tokens by market capitalization in early morning trading in Asia, though Ether was the pace leader with the larger climb. U.S. equities were little changed overnight. See related article: Markets: Bitcoin edges up, Ether posts biggest gain among top 10 tokens Fast facts Bitcoin added 0.6% to […]

CME Group – the world’s biggest operator of financial derivative markets, including the Chicago Mercantile Exchange –  on Wednesday said it will offer options on Ether futures starting Sept. 12, pending regulatory review. See related article: New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog Fast facts See related article: ETH futures […]

The Federal Deposit Insurance Corporation (FDIC), one of the two federal agencies insuring savings in American depository institutions, may be asking banks to refrain from providing services or extending credit to cryptocurrency companies, Republican Senator Pat Toomey alleged. See related article: New US bill to give CFTC oversight of cryptocurrencies may speed up crypto legislation […]

Something of a sea change? Financial institutions that once turned up their noses at cryptocurrencies are now figuring out ways to get access for their clients.

Nasdaq-listed Coinbase Global is under investigation by the U.S. Securities and Exchange Commission (SEC) for its token listing processes and its staking programs and yield-generating products, according to the company’s most recent quarterly report. See related article: Former Coinbase manager arrested on insider trading charges Fast facts “[Coinbase] has received investigative subpoenas and requests from […]

Bitcoin and Ethereum led broad gains among the top 10 cryptocurrencies by market capitalization on Tuesday morning in Asia. Bitcoin touched US$24,203 at one point overnight, its highest since July 31. Ethereum rallied to US$1,806, its highest since early June. See related article: Markets: Bitcoin, Ethereum rise in broad gains; Solana jumps; BNB adds to […]

US Senate proposes the CFTC takes responsibility of Bitcoin and Ethereum. Meanwhile, Philippine authorities warn against Binance

The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler Friday reiterated the agency’s attempt to bring cryptocurrency exchanges under oversight and “register where appropriate as securities.” See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts See related article: SEC fails to block XRP holders from aiding in Ripple case

U.S.-based crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department’s Office of Foreign Control for allegedly violating economic sanctions against Iran, according to the New York Times. See related article: US charges two Europeans with helping N.Korea evade sanctions with crypto Fast facts Kraken allegedly allowed users in Iran and elsewhere to […]

The U.S. Department of Justice (DOJ) arrested former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, on allegations of wire fraud in a first-ever cryptocurrency insider trading scheme, the agency said in a statement on Thursday.  See related article: Former OpenSea employee arrested amid insider trading allegations Fast facts The Wahi brothers are […]

As a world leader, the US now offers a regulatory template for crypto that others are sure to follow, writes Michael Shing of XREX. Here are the key provisions.

Fresh claims that emerged over the weekend about the status of Circle’s USDC reserves cast doubts on the ability of the so-called stablecoin to maintain its peg. In a deep dive, Forkast examined the allegations and reached out to the company for its version of events.

The failure of a crypto market player may have spillover effects on traditional finance such as short-term funding markets, says the Basel-based international body.

The U.S. Office of Government Ethics (OGE) said federal employees of the executive branch owning cryptocurrencies or mutual funds investing in the sector need to recuse themselves from any matter related to the industry. See related article: CFTC Commissioner Pham suggests regulators stay tech-neutral on stablecoins Fast facts The July 5 memo clarified that the […]

In an exclusive interview with Forkast Editor-in-Chief Angie Lau, Circle Chief Financial Officer Jeremy Fox-Geen said reserves backing the so-called USDC stablecoin are ring-fenced from any potential fallout from the contagion engulfing crypto markets.

The recently proposed U.S. cryptocurrency bill could undermine the existing regulatory framework for broader capital markets, Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Tuesday. See related article: Hold onto your crypto bags, the regulators are coming Fast facts Speaking at the Wall Street Journal’s CFO Network Summit, Gensler said many crypto companies […]

A proposed US crypto bill may place crypto under the CFTC’s primary oversight, but that won’t exclude the SEC from the industry, Sidley Austin’s Lilya Tessler says.

In a special op-ed, 2 former CFTC chiefs and a crypto executive make the case for why the US must prioritize policies that support the new Web3 economy.

A developmental shift in the cryptocurrency industry is ushering in geographical shifts among crypto companies, with a number of businesses abandoning locations once hailed as crypto hubs in favor of jurisdictions with regulatory regimes more to their liking.  Forkast sat down with two of the crypto industry’s rainmakers who are among those spearheading this trend […]

As decentralized finance redefines the way money moves, a do-or-die moment is approaching for traditional finance sector businesses, says Anthony Scaramucci.

Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.

Crypto regulations are lagging the market’s needs, and the industry should help create order to gain greater public trust, writes Imgesu Cetin of Defy Trends.

The U.S. Federal Reserve’s report on central bank digital currencies (CBDCs) released on Thursday did not contain policy recommendations or decisions on digital dollar issuance. Fast facts The paper acknowledged that the Fed will not proceed in creating a digital dollar without clear support from lawmakers, ideally through a specific authorizing law. The Fed said […]

Perianne Boring of the Chamber of Digital Commerce sees agencies elbowing each other to oversee the crypto industry while investors start to pay big taxes.

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?

Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.

Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from […]

Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.

The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?

Ethereum’s sprawling Web 3.0 ecosystem — which includes the majority of the decentralized finance (DeFi), stablecoins, non-fungible tokens (NFTs) and blockchain gaming worlds — continues to expand and draw users, with 3.4 million Ethereum addresses interacting with DeFi protocols, according to ConsenSys’ Web 3 Q3 2021 report published this week. Led by Ethereum co-founder Joseph […]

FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.

Top blockchain and crypto news: Stablecoins at regulatory crossroads. Squid Game crypto players suffer shocking fate. Are metaverses China’s new national insecurity?

The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.

Tether Operations, the company behind Tether (USDT) — the largest stablecoin by market capitalization — today announced that it will be trialing Notabene’s crypto travel rule compliance product for cross-border stablecoin transfers. Fast facts USDT has a market capitalization of over US$70 billion and over US$64 billion in 24-hour trading volume, according to CoinGecko data. […]

Just three months after closing a record US$1 billion series B, the two-year-old cryptocurrency exchange is now valued at US$25 billion. Fast facts The US$420,690,000 Series B-1 funding round saw the participation of 69 investors, with prominent names the lineup, including Ontario Teachers’ Pension Plan Board, via its Teachers’ Innovation Platform, Singapore’s state-owned investment firm […]

New York state Attorney General Letitia James has ordered two “unregistered crypto lending platforms” — one of which has appeared to be Nexo — to cease operations in New York, and requested another three platforms to provide information about their activities. Fast facts James said in a press release published on Monday: “Cryptocurrency platforms must […]

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies. Fast facts The CFTC said in a Friday statement that from at least June 1, 2016 to […]

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Following similar moves in Singapore, embattled crypto exchange Binance — the largest in the world by trading volume — is ending its derivatives trading in Australia by year’s end, according to a company blog post on Tuesday. Fast facts Aussie traders will have 90 days to reduce or close their positions on options, futures and […]

Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly now under investigation for possible insider trading and market manipulation by the United States Commodity Futures Trading Commission (CFTC). Fast facts According to a Bloomberg report that cited unnamed sources, investigators from the CFTC — the agency that regulates the U.S. derivatives markets — […]

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?

Too small to fight as individuals, Binance users are now banding together to take on the world’s largest crypto exchange in arbitration. David Kay of Liti Capital explains how it’s done.

FTX US, the affiliate of Hong Kong-based crypto derivatives exchange FTX, on Tuesday announced that it was acquiring Ledger Holdings Inc., parent company of LedgerX, a digital currency futures and options exchange regulated by the Commodity Futures Trading Commission (CFTC). Fast facts LedgerX is a CFTC-regulated designated contract market (DCM), swap execution facility (SEF) and […]

What is DeFi, why it’s poised to enable financial inclusion, and how the showdown between decentralized finance and regulators is taking shape.

After nearly a year under investigation, crypto exchange and derivatives trading platform Bitmex has agreed to pay as much as US$100 million to settle charges brought by the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, according to a company blog post. Fast facts Alex Höptner, BitMEX’s CEO, told Forkast.News in a […]

Hinting at a potential future crackdown on stablecoins, Gary Gensler — the chair of the U.S. Securities and Exchange Commission — told the American Bar Association this week that cryptocurrencies whose prices are based on traditional assets could be subject to securities law enforcement. Fast facts Gensler’s remarks followed those of U.S. Treasury Secretary Janet […]

After Tether’s legal settlement with New York, USDT’s growth is exploding—dispelling concerns over Tether’s reserves, says Bitfinex CTO Paolo Ardoino.

Around US$1.5 billion of Bitcoin long positions were liquidated today across some of the world’s top crypto exchanges, including Binance and FTX, according to Bybt data.

The Asian crypto industry reacts to the US Department of Justice and Internal Revenue Service money laundering probe into Binance. In South Korea, the nation’s largest internet company plans to join Bank of Korea’s CBDC ventures. Over in Singapore, Southeast Asia’s largest lender DBS Bank expands its crypto services for its private bank clients by […]

Yet another U.S. regulatory probe of leading crypto exchange Binance is underway, but CEO Changpeng Zhao isn’t impressed with news headlines.

Binance, the world’s biggest cryptocurrency exchange, is being investigated by the U.S. Department of Justice and Internal Revenue Service over alleged illegal activities. Officials responsible for investigating money laundering and tax breaches have interviewed individuals familiar with Binance’s activities, according to a report by Bloomberg. In March, the U.S. Commodity Futures Trading Commission said it […]

In new court filings, the SEC says allowing XRP holders’ to join SEC v. Ripple lawsuit as third-party defendant would cause delays and ‘sow chaos.’

XRP investors and users ask to join SEC’s lawsuit against Ripple as third-party defendant. ‘Without our intervention, we are without a voice in the debate.’

The former MIT blockchain professor and CFTC chair now sits atop a key regulator over crypto. How might his leadership affect SEC v. Ripple, or Bitcoin ETFs?

As Ripple and SEC intensify their legal battles, attorney John Deaton and his clients are trying to jump into the fray. Will XRP investors get their day in court?

HashKey Group’s Angelina Kwan, a former regulator who helped write laws relevant to the crypto industry, also explains why Hong Kong leads the world in fintech regulations.

Intensifying its legal warfare against XRP, SEC takes aims at the heart of Ripple’s defense. But Ripple scores wins in Tetragon and YouTube lawsuits.

Blockchain association leader Perianne Boring explains the controversial rule and how the industry pulled together to force FinCEN to consider public input.

Ripple and SEC face off in a pretrial conference as MoneyGram, the world’s second largest money transfer provider, suspends trading on Ripple’s platform.

Blockchain Research Institute’s Don Tapscott outlines how Biden administration can lead technology policy for US to stay ahead in the innovation race.

The Blockchain Research Institute-led report for Biden’s administration also outlines recommendations for crypto regulations and a national blockchain strategy.