Articles filed under

Regulatory

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January 2023

Ripples’ ripple?

The battle for who gets to regulate cryptocurrencies continues as SEC v. Ripple Labs carry on larger implications for the crypto world.

Digital Currency Group in spotlight over suspicious fund transfers

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

Ripple Decision Soon?

Ripple expects a SEC ruling on a two-year-old suit and what regulations it could bring about.

Will crypto’s real-world impact become more evident in 2023?

Crypto Council’s Sheila Warren hopes to see more of crypto’s real-world use cases emerging in the media next year.

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

Ripple expects SEC ruling in first half, clearer global regulations for digital assets in 2023 

Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.

Happy birthday to Bitcoin! What will it become when it’s all grown up?

It takes a village to raise a child, and Bitcoin is no different — we must support its growth but also set firm boundaries, writes Justin d’Anethan of Amber Group.

FastForkast headlines

El Salvador establishes legal framework for all cryptocurrencies

Shanghai Two Sessions: metaverse development requires stronger supervision

Hong Kong crypto exchanges to follow same laws as traditional finance

Hong Kong pushes ahead with crypto hub plans as tech firms, startups show interest: financial secretary

Crypto P2E game investments not protected by law, China court says

January 2023

A year to remember, a year to forget: Crypto highs and lows of 2022

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Why digital assets need regulations now more than ever

In times of market volatility, regulation can restore confidence and public trust in crypto, writes Albert Isola, Gibraltar’s minister for digital and financial services.

14 years on, why Bitcoin will survive its growing pains

Like an awkward teen, Bitcoin is facing a crisis of confidence, writes Eddie Hui of MetaComp. What lies in store for the original cryptocurrency in 2023?

Regulation shaping up?

A year of scandals in the crypto industry has led to questions about the viability of regulation.

US bill set to demand know-your-customer from crypto companies

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

A year of scams

Crypto proved to be breeding ground for scams in 2022. Will next year be different?

US Senator Elizabeth Warren submits crypto know-your-customer bill in wake of FTX collapse

As U.S. prosecutors line up charges against Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, Senator Elizabeth Warren is seeking to pass bipartisan regulation to rein in the “dark underbelly” of the crypto industry.

Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

Coniferous crypto: What the industry must do next to weather this winter

Crypto is weathering this year’s extreme turbulence so far. But its long-term health will require the sector’s urgent attention to regulation, education and security, writes Oliver Linch, CEO of Bittrex Global.

Bankman-Fried may face subpoenas if he does not testify

The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.

Demanding data privacy is a feminist fight: Opinion

Personal information privacy matters more than ever in a post-Roe world, writes Kayla Kroot of Koii Network. Can data from menstrual cycle tracking apps be used to prosecute women and girls for abortions?

AAX’s future in doubt amid staff exodus and FTX contagion

Top blockchain and crypto news: AAX teeters on the brink. SBF hints at Congressional hearing no-show. Chinese court boosts NFT legitimacy.

DeFi regulation: it’s not a matter of if, but when

The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.

Innovation vs Regulation

Innovation and regulation are mutually exclusive in the world of crypto – and in the aftermath of the FTX collapse, getting the balance right is key.

Will the next wave of FTX victims be unwitting tax cheats?

When a crypto exchange fails, will your transaction records vanish, too? Here’s why investors should take responsibility over their own trading data.

Sam Bankman-Fried points blame for FTX collapse to Alameda, says he was blindsided

Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
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FastForkast headlines

Crypto P2E game investments not protected by law, China court says

Retiring U.S. Senator Pat Toomey introduces bill for regulating stablecoins

Hong Kong’s SFC appoints new chief who calls for stronger crypto regulation

Japan ruling party lawmaker calls for regulatory clarity after FTX debacle

New FTX CEO says he found ‘utter failure of corporate controls’ at the exchange

U.S. Justice Department mulls charging Binance over potential money laundering violations: report

Hong Kong mulls regulatory requirements for local licensed crypto exchanges: report

S.Korea discusses control over crypto listings after WEMIX delisting

Sam Bankman-Fried misses deadline to respond to Senate Committee hearing

U.S. considering bill to require crypto miners to report carbon emissions

December 2022

Sam Bankman-Fried could face decades in jail if convicted of law violations in FTX collapse, lawyers say

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

The crash and burn of FTX: What lessons does it teach us?

As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?

S.Korea’s top regulator says digital assets, virtual assets are different

While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.

Why digital assets need better infrastructure and risk management

Investor confidence may be shaken, but crypto is here to stay, writes Alex Manson of Standard Chartered’s SC Ventures. Here’s how to restore trust and make the sector more resilient.

FTX failed because of humans, not crypto

Human greed and deception led to FTX’s fall. That’s why the antidote is not more regulations but could be found in blockchain’s original promises, writes Marieke Flament, CEO of NEAR Foundation.

Australia to revamp cryptocurrency rules after FTX collapse

The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.

How Hong Kong and Singapore can make Asia the center of crypto’s future

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

FTX collapse leaves investors jittery over crypto contagion

Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.

FTX is crypto’s Lehman Bros. moment. What happens now?

Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?

Binance says it will set up crypto recovery fund, industry standards group

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

Binance chief says FTX bailout deal ‘didn’t make sense’

Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.

Binance set to swallow FTX as run on exchange allows CZ to swoop

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

U.S. midterms: gridlock… and progress on crypto industry regulation?

In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.
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Hong Kong needs engineering talent to reclaim role as digital asset hub

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.
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Curiosity ‘always’ fuels innovation, says blockchain co-creator Stuart Haber 

U.S. computer scientist Stuart Haber, recognized with Scott Stornetta as the co-inventor of blockchain, says he is excited to see the evolution of the technology, not only in the financial sector, but also in entertainment, business, and technology industries.

FastForkast headlines

U.S. considering bill to require crypto miners to report carbon emissions

Russia plans launch of national crypto exchange

Hex Trust bags virtual asset license from Dubai

New York Attorney General eyes ban of crypto purchases through retirement funds

China’s foreign exchange bureau urges stronger legislation to regulate crypto trade

S. Korea mulls requirement for digital asset exchanges to compensate sudden withdrawal suspension

SEC gets support from New Sports Economy Institute in XRP lawsuit against Ripple

FTX owes US$3.1 billion to top 50 unnamed creditors, court filing shows

FTX requests Chapter 15 bankruptcy case moved to Delaware, hearing on Tuesday

Ripple gets support from Blockchain Association in XRP lawsuit against SEC

Coinbase officially enters the fray in XRP lawsuit to support Ripple against SEC

Shark Tank’s Kevin O’Leary says FTX debacle will never happen again

FTX Japan ordered to suspend operations by the country’s regulators 

US regulators DoJ, SEC, CFTC probe crypto platform FTX

The fall of FTX “not good for anyone,” CZ says

Japan’s Web 3.0 lawmaker urges further easing of country’s crypto regulation

SEC gets more time to file reply briefs in XRP lawsuit against Ripple

Digital wallet Cryptillian seeks to back Ripple against SEC in XRP lawsuit