Gemini Creditor Committee Presents Plan to Resolve Liquidity Issues
The creditor committee expects to hear from Genesis and DCG by the end of the week. Source
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Committee
Basel Committee Finalizes Rules for Bank Exposure to Cryptocurrency Assets – Regulation Bitcoin News
The Basel Committee, the organization in charge of setting global bank standards, has finalized its new rules related to banks and cryptocurrency exposure. The document establishes two different crypto asset classes, including tokenized real assets and stablecoins in one, and other cryptocurrencies in another, discriminating on the collateral and quantity
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Next House committee chair reintroduces bill on crypto innovation
North Carolina Representative Patrick McHenry, the current ranking member of the House Financial Services Committee and chair starting in January, has reintroduced legislation aimed at creating innovation offices within government agencies dealing with financial services.In a Dec. 19 announcement, McHenry said he had reintroduced the Financial Services Innovation Act —
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Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues – Bitcoin News
Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn program’s withdrawals, Cameron
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Basel Committee Endorses Global Crypto Banking Rules be Implemented by 2025
The classification conditions the committee have set out include ensuring crypto passes a redemption risk test and basis risk test. "The redemption risk test is to ensure that the reserve assets are sufficient to enable the crypto assets to be redeemable at all times," the report said. Meanwhile, the basis
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New House Financial Services Committee chair wants to delay crypto tax changes
The incoming United States House Financial Services Committee chair Patrick McHenry wants the Treasury to delay the implementation of a section of the Infrastructure Investment and Jobs Act that deals with digital assets and tax collection.McHenry sent a letter on Dec. 14 to U.S. Treasury Secretary Janet Yellen with questions
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Incoming House Financial Services Committee Chair Asks Secretary Yellen to Delay Crypto Tax Provision
Rep. Patrick McHenry, the soon-to-be chair of the House Financial Services Committee, wrote a public letter to Treasury Secretary Janet Yellen asking her to delay the implementation of the tax provision in last year's infrastructure law. Source
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US Trustee names Wintermute on creditor committee in FTX bankruptcy case
A United States Trustee has announced nine creditors to the committee responsible for part of crypto exchange FTX’s bankruptcy proceedings.According to court documents filed Dec. 15, U.S. Trustee Andrew Vara named crypto market maker Wintermute Asia among those on the ‘Committee of Unsecured Creditors’. Other creditors included individual investors, crypto
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Wintermute, Venture Cap Octopus Given Seats on Key FTX Creditor Committee
The Department of Justice has named Venture Capital company Octopus, the Gibraltar-based Wincent Investment Fund, Coincident Capital International, GGC Information Ltd., Pulsar Global Ltd., and a number of individual investors to represent the potentially million people owed money by the collapse of the Bahamas-based firm, whose founder Sam Bankman-Fried is
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$1.6B FTX International Customers Group Hires Law Firm to Create Official Bankruptcy Committee
The non-U.S. FTX customers, led by Eversheds Sutherland attorneys Sarah Paul and Erin Broderick, had already formed the first FTX ad hoc group, and as an official committee, would be granted additional consultation and approval rights within the Chapter 11 case, including being entitled to payment of professional fees by
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