Head of crypto, FX trading platform EminiFX pleads guilty to US$248 million fraud charges
Mastermind of the EminiFX fraud has pleaded guilty to soliciting investments worth more than US$248 million from tens of thousands of investors, says US DOJ.
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Weekly Market Wrap: Bitcoin retreats below US$22,000 after a record January. Is the strong start to 2023 reversing?
After the strongest January price increase since 2013, Bitcoin gave up some of its gains this week to dip below the US$22,000 support line on Friday. The crypto market was buffeted by bearish comments on interest rates by U.S. Federal Reserve officials this week, along with concerns about a regulatory crackdown. Is this the start…
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Why DeFi remains niche and what might get it out of its market rut
DeFi is still a Wild West, and many would-be users are wary of its lawlessness and anonymity. Could decentralized IDs foster greater trust and growth in the sector?
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Why the cloud will be critical to US competitiveness in world finance
The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.
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Hong Kong to mandate stablecoin licensing as early as this year
The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.
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What we must learn from FTX so that history does not repeat itself
Tighter regulations are necessary but not enough. The industry also needs to address its issues with custody and transparency, writes Chen Zhuling of RockX.
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Biden administration urges U.S. congress to pursue crypto regulation
Four senior officials in U.S. President Joe Biden’s administration called for Congress to “step up its efforts” in regulating the cryptocurrency market.
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World Economic Forum’s digital asset head expects real-world blockchain adoption in 2023
Cryptocurrencies post the Terra-Luna, FTX failures were a debated topic at the World Economic Forum meeting in Davos in the week through Jan. 20, with some authorities calling for a doubling down on regulations. Others had a more nuanced view.
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Will Genesis meet its maker amid creditors closing in?
Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.
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Japan’s financial regulator aims to lift ban on foreign stablecoins by June this year
Japan plans to introduce regulations by June this year that will allow domestic investors to trade certain stablecoins from overseas.