Crypto’s regulatory fate will be decided in the year ahead
Congress is set to take up a slew of legislative proposals in 2023 that will determine which regulators have chief domain over cryptocurrency. Go to Source Powered by WPeMatico
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Next House committee chair reintroduces bill on crypto innovation
Under the proposed bill, companies could apply for an “enforceable compliance agreement” with offices at federal financial agencies that would allow for a regulatory path forward. Go to Source Powered by WPeMatico
SEC was “asleep at the wheel” about FTX – US Rep. Sessions
The Texas Congressman urged lawmakers to examine the SEC’s efforts to prevent fraud at the crypto exchange. Go to Source Powered by WPeMatico
US Financial Stability Oversight Council urges congressional action on crypto
According to the FSOC, issues at FTX had “precipitated price decreases in Bitcoin and other crypto-assets” but “had a limited impact on the broader U.S. financial system.” Go to Source Powered by WPeMatico
Senate FTX hearing: calls for regulation and crypto criticisms aplenty
“Short of enacting draconian authoritarian policies, cryptocurrency cannot be stopped,” said Senator Pat T Go to Source Powered by WPeMatico
Crypto blame game back on US Senators’ menu following SBF arrest
While Congressman Brad Sherman saw SBF as the poster child of the crypto ecosystem, congressman Tom Emmer highlighted the crypto community’s contribution to uncovering the supposed FTX fraud. Go to Source Powered by WPeMatico
FTX hearing: US lawmakers criticize use of Quickbooks, creepy dough, and ‘conscientious stupidity’
Some members of the U.S. House of Representatives questioned whether Sam Bankman-Fried’s actions at FTX and Alameda may have been willful or due to gross incompetence. Go to Source Powered by WPeMatico
SBF planned to blame everyone but himself, shows leaked Congress testimony
SBF blamed the current CEO, his legal counsel, the law firm he appointed for bankruptcy, and Binance CEO CZ, without admitting any wrong on his part. Go to Source Powered by WPeMatico
Hours before his arrest, SBF denied being part of ‘Wirefraud’ chat group
SBF’s last tweet before his arrest for reportedly committing wire fraud was dispelling his involvement in a group chat purportedly called “Wirefraud.” Go to Source Powered by WPeMatico
FTX was an ‘utter failure of corporate controls at every level of an organization’, says CEO
Countering some of SBF’s claims, John Ray said that “FTX US was not operated independently of FTX.com” and a Chapter 11 filing was necessary to avoid a bank run. Go to Source Powered by WPeMatico