The Lummis-Gillibrand bill could reshape global crypto regulations
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.
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Will Mt. Gox Bitcoin eruption smother hopes of rapid crypto recovery?
Top blockchain and crypto news: Payback time for Mt. Gox investors. USDC issuer strikes back as critics circle. Chinese bank fiasco hits a nerve.
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Court gives liquidators green light to claim 3AC assets
U.S. Bankruptcy Judge Martin Glenn gave liquidators authority to subpoena and lay claim to bankrupt crypto firm Three Arrows Capital (3AC)’s U.S-based assets on Tuesday. See related article: 3AC crypto contagion spreads to Blockchain.com: report Fast facts Liquidators can subpoena two dozen banks and crypto exchanges to obtain information about the bankrupt crypto hedge fund’s…
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Vitalik Buterin defends Ethereum ahead of merge; ‘not a security’
Ethereum co-founder Vitalik Buterin tweeted a defense of the network’s transition to proof of stake (PoS) on Tuesday, responding to arguments suggesting assets secured by such consensus mechanisms are a security. See related article: Ethereum one step closer to Eth2 with Ropsten testnet merger Fast facts “The fact that you can vote on something to…
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Financial Stability Board calls for high regulatory standards for stablecoins
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.
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Why Singapore needs to rethink its approach to regulating crypto
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
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Circle says customers could redeem all of USDC in one day
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.
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South Korea may team up with US to investigate crypto crimes
South Korea’s Justice Minister Han Dong-hoon met with U.S. investigative agencies in New York on Tuesday amid the countries’ separate investigations into Terra and its cofounder Do Kwon. See related article: South Korean authorities cite LUNA debacle to call for speedier crypto oversight Fast facts The minister met with Andrea M. Griswold, co-chief of the…
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South Korea’s Uprise said to have lost US$20 mln in client funds on LUNA short
The South Korean fintech startup that operates digital asset management and trading services reportedly had over US$20 million, or 99% of its client funds, liquidated amid the Terra-LUNA collapse in May. See related article: What lessons can we learn from Terra’s LUNA/UST meltdown? Fast facts The startup’s trading unit had placed client funds on a…
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Three Arrows Capital collapse sends tremors through crypto industry
Top blockchain and crypto news: Three Arrows target bankruptcy protection. Polium’s Web3 game plan pilloried. China’s tech giants get hands-on with NFTs.