We could use crypto regulation after FTX — but let’s start with basic definitions
Congress should start by addressing what cryptocurrencies are securities and what are commodities. Go to Source Powered by WPeMatico
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Rostin Behnam points to CFTC-regulated LedgerX as success story amid FTX collapse
“The customer property at LedgerX — the CFTC regulated entity — has remained exactly where it should be, segregated and secure,” said Rostin Behnam in a hearing on FTX’s failures. Go to Source Powered by WPeMatico
US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse
Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin were targets of one senator’s probe into protections the firms had in place if a failure similar to FTX’s occurred again. Go to Source Powered by WPeMatico
US House committee sets Dec. 13 date for FTX hearing
The House event, titled “Investigating the Collapse of FTX,” will follow a similar hearing in the Senate Agriculture Committee scheduled for Dec. 1. Go to Source Powered by WPeMatico
SEC chair’s crypto oversight strategy in question as ecosystems collapse
Congressman Tom Emmer showed concerns about the oversight strategy implemented by Gary Gensler, the chair of the U.S. Securities and Exchange Commission for the crypto ecosystem. Go to Source Powered by WPeMatico
New York AG pushes prohibition of crypto purchases via retirement funds
The NYAG clarified that digital assets differ from blockchain technology, and it has no issues with citizens purchasing stakes in publicly traded blockchain-based businesses in retirement accounts. Go to Source Powered by WPeMatico
Brazilian Cryptocurrency Bill Resurfaces After General Ballot
The Brazilian cryptocurrency bill, sidelined several times due to the general election ballot that happened on October 30, might be discussed and voted on during the following week. According to reports, the project identified as 4.401/2021 will be on the agenda for being discussed by the Chamber of Deputies, marked as urgent, and listed to … Read more
FTX Execs Gave $70 Million to Both Democrats and Republicans Heading Into the 2022 US Midterms
After the collapse of FTX, a number of journalists reported on the fact that FTX executives deployed significant donations to political leaders in the United States. During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than $40 million to Democrats via super PACs … Read more
US Sen. Warren and Durbin demand answers from Bankman-Fried and his successor at FTX
Two crypto-unfriendly Democratic senators have sent a letter to the executives with a list of detailed and penetrating questions about the behavior of Bankman-Fried and his businesses. Go to Source Powered by WPeMatico
Crypto skeptic Brad Sherman: federal financial regulators ‘sound like Sam Bankman-Fried’
The U.S. lawmaker suggested four financial regulatory heads had done little to address “crypto billionaire bros” using digital assets for the evasion of sanctions and taxes. Go to Source Powered by WPeMatico