The network of rules, statutes, and legal procedures governing the cryptocurrency and blockchain businesses is collectively called “crypto regulation.” The legal standing of these businesses has been a hot topic of discussion ever since Bitcoin’s 2008 white paper. The issues facing legislators and regulators have completely changed. Some authorities have reacted negatively because they perceive cryptocurrency as threatening monetary authority. Others have embraced the sector due to its ability to connect distant economies and promote secure global commerce. However, the majority of the globe is still figuring out how to enact, oversee, and enforce the body of regulations governing such a new industry.
The two individuals believed to have exploited the Platypus Protocol have been taken into custody by the French National Police. The police department confirmed the arrest after it was announced (1) on the official Twitter handle of the organization. The authorities did not reveal the names of the individuals or the charges that have since … Read more
The Texas State Securities Board has expressed several concerns regarding the transaction terms and conditions in the motion they have jointly submitted.
Main Points: In the complaint, it is said that Silvergate was responsible for FTX’s downfall in some way. Joey Gonzalez filed the action in order to seek compensation for himself and for others who found themselves in a similar position. Silvergate Bank is accused of playing a substantial role in the Sam Bankman-FTX Fried’s and … Read more
According to research published (1) by Chainalysis, the failure of FTX led to realized losses for cryptocurrency investors totaling around $9 billion. Chainalysis observed that this loss was insignificant compared to the loss caused by Terra’s UST depeg, which was $20.5 billion. Realized losses were $33 billion due to the collapse of cryptocurrency companies … Read more
In Short In many instances, CTFC has referred to ETH, BTC, and USDT, amongst other cryptocurrencies, as commodities under the laws of the United States. Earlier, the chief executive officer of the CTFC, Rostin Behnam, stated that Bitcoin was the sole cryptocurrency that ought to be considered a commodity. The CTFC has filed a … Read more
The United States Commodities Futures Trading Commission has filed a lawsuit against the former CEO of FTX, Sam Bankman-Fried, as well as FTX and Alameda Research, alleging that they broke federal regulations governing commodities trading. According to Bloomberg (1), the regulator contends in its lawsuit with the Manhattan federal court that SBF and other FTX … Read more
Key Takeaways An investigation into possible instances of money laundering was initiated when a local bank noticed an uptick in deposits reaching more than 10 million yuan. The entire amount of money the Chinese government seized is equal to $18.6 million USD. The Chinese authorities have arrested 63 persons on suspicion of utilizing cryptocurrencies to … Read more
After involvement by the United States Federal Trade Commission, Microsoft’s plan to acquire Activision Blizzard, which was initially intended to be used in the construction of Metaverse efforts, was met with resistance and ultimately failed (FTC). In order to encourage equitable competition in the markets for high-performance gaming consoles and subscription services, the FTC attempted … Read more
On Friday, an amendment document was released in connection with the United Kingdom’s Financial Services and Markets bill (1). This paper gives the impression that the United Kingdom’s government wants to regulate cryptocurrency and prohibit unlicensed service providers. The Minister of Financial Services, Andrew Griffith, made the following statement in the amendments paper: “to clarify … Read more
Gavin Wood is stepping down from his role as chief executive officer of Parity, the blockchain infrastructure company driving the Polkadot ecosystem (1). Wood will, however, continue to hold the position of the chief architect at Parity Technologies and will continue to serve as a majority shareholder in the company. Wood’s co-founder, Bjorn Wagner (2), … Read more