US senator behind efforts to pass major crypto bill won’t seek re-election
Senator Debbie Stabenow was one of the lawmakers behind introducing the Digital Commodities Consumer Protection Act in August. Go to Source Powered by WPeMatico
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NY AG files lawsuit against Alex Mashinsky, alleging he hid Celsius’ ‘dire financial condition’
Alex Mashinsky’s actions leading up to Celsius declaring bankruptcy allegedly contributed to investor losses by misrepresenting the platform’s financial condition to investors. Go to Source Powered by WPeMatico
US Bankruptcy Court Rules Celsius Deposits Belong to the Firm
A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar cases involving crypto companies like Blockfi and FTX. Celsius Obtains Ownership of … Read more
US Regulators and the Fed Jointly Issue Crypto Warnings
The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector,” the … Read more
Bahamas Regulator Disputes FTX’s Claim About Value of Seized Cryptocurrencies
The Securities Commission of the Bahamas has disputed FTX’s claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief’s “continued lack of diligence when making public statements concerning the Commission is disappointing,” the Bahamian regulator stressed. Bahamas Regulator and FTX Disagree on the … Read more
US authorities are seizing $460M in Robinhood shares tied to FTX: Report
Officials reportedly told a bankrup judge they were in the process of seizing 56 million shares of Robinhood tied to FTX and its former CEO Sam Bankman-Fried. Go to Source Powered by WPeMatico
US Congress investigations into FTX are in limbo without a House Speaker
With no leadership elected to the House of Representatives, efforts to address fraud allegations at FTX or legislate crypto may be delayed indefinitely. Go to Source Powered by WPeMatico
Coinbase reaches $100M settlement with NY regulators
Regulators stated that the company had a backlog of 100,000 alerts about potential suspicious customer transactions. Go to Source Powered by WPeMatico
Nigerian Crypto Exchange Roqqu Gets European Union Virtual Currency License
The Nigerian crypto exchange Roqqu recently announced that it obtained a virtual currency license that allows it to offer its services in 28 European countries. According to Israel Ololade, the head of product at Roqqu, the European Union license “aligns with the brand’s drive to become the number one blockchain and crypto company globally.” Crypto … Read more
Indian Government Launching Crypto Awareness Campaign
The government of India is launching a crypto awareness campaign that will educate investors about the legality of cryptocurrencies in the country while highlighting the risks of investing in crypto assets. Indian Government’s Cryptocurrency Awareness Campaign The Indian government is reportedly launching a first-of-its-kind crypto awareness campaign. It will be conducted by the Investor Protection … Read more