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The FTX bankruptcy estate, headed by CEO John J. Ray III, has filed a lawsuit against ByBit, its investment arm Mirana, and various executives. The aim is to recover funds and digital assets that ByBit withdrew from FTX just before its collapse, with the current value close to $1 billion.The
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The Commodity Futures Trading Commission (CFTC) has unveiled its enforcement outcomes for Fiscal Year (FY) 2023. It highlights a historic surge in digital asset cases, actions to enforce regulatory obligations for registrants, manipulation and spoofing cases, and groundbreaking court decisions in intricate legal disputes.The statement released by the CFTC shows
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According to a Nov. 2 post on X, SEBA Bank has announced a new partnership with St. Galler Kantonalbank (SGKB) to offer users the chance to buy and trade cryptocurrencies like Bitcoin and Ether. SGKB is the fifth largest bank, with 35 branches in the eastern part of Switzerland. A major milestone As
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The U.S. Commodity Futures Trading Commission (CFTC) has focused its attention on how companies handle customer assets. Nevertheless, this fresh regulation does not fully encompass the innovative model of the crypto platform LedgerX, leaving key operational aspects subject to regulatory oversight.Regarding regulations, the recent CFTC proposal seeks to enhance the
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Cathie Wood of ARK Investment Management champions Bitcoin over gold and cash as a long-term hedge against deflation, in light of technological advancements. In a recent podcast with Bloomberg’s Merryn Somerset Webb, CEO of ARK Investment Management Cathie Wood shared her conviction in Bitcoin as the prime asset for potential deflation
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Rules for crypto asset promotion that came into force in the United Kingdom on Oct. 8 have led to some confusion, judging from the low level of compliance. The Financial Conduct Authority (FCA) responded with additional guidance for crypto firms to help them fall into line.The FCA released “finalized non-handbook
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The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenization.The circulars offer instructions to intermediaries participating in tokenized securities activities and outline the criteria for tokenizing investment products authorized by the SFC.The SFC considers tokenized securities as traditional securities with a tokenization layer. As
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Digital asset manager Valkyrie Investments is the latest firm to amend its spot Bitcoin (BTC) exchange-traded fund (ETF) filing with United States securities regulators.Valkyrie filed an updated spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC) on Oct. 30, according to the SEC database.The updated form S-1 registration statement
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The countries created a policymaking group to further the asset tokenization tests and help with navigating legal and compliance concerns. Government agencies in multiple countries are collaborating on asset tokenization tests with real-world assets. In a Monday announcement from the Monetary Authority of Singapore (MAS), regulators in Japan, Switzerland, Singapore, and
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The Monetary Authority of Singapore (MAS) has set up Project Guardian, a policymaker group that includes Japan's Financial Services Agency (FSA), the U.K's Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA) to advance cross-border collaboration in asset tokenization. Source
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