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In the wake of FTX’s demise, the Financial Stability Board official urged authorities worldwide to move beyond sectoral boundaries and agree on global norms for the industry. Original Source
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Lisa Braganca, former SEC enforcement branch chief, discusses why regulation for crypto is likely to come from the SEC or CFTC rather than Congress and why SBF’s lawyers are “apoplectic.” Source
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As CryptoX earlier reported, FTX was used as a platform for merchants, which would register an account and receive payment for their goods in crypto. Then those merchants could immediately turn it into fiat if they wanted, according to the technical lead of Ukrainian government's crypto fundraise Michael Chobanyan, CEO
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The Internal Revenue Service (IRS) is building “hundreds” of crypto cases to crack down on tax evasion, an official reportedly said. In the fiscal year 2022, the IRS Criminal Investigation Division seized about $7 billion in cryptocurrency, which was double the previous year’s total. IRS Building ‘Hundreds’ of Cases to Crack
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Ryan, who’d joined Gov. Mitt Romney’s ticket as the vice presidential candidate in 2012, will serve on the council with Steve Israel, a former Democratic congressman from New York who ran his party’s congressional campaign committee; Makan Delrahim, a former U.S. assistant attorney general for the U.S. Department of Justice’s
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Inflation has skyrocketed in Turkey as official figures from the Turkish Statistical Institute (Tüik) show the country’s inflation rate topped 85.5% year-on-year. The inflation rate in Turkey has risen for 17 consecutive months and last month it reached a 24-year high. Turkey’s Interest Rate Remains Low, While Inflation Runs Rampant Turkey, the
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With the presidency, India – which has passed what the local industry has criticized as a crippling tax regime, while the country's central bank has called for a ban on cryptocurrencies – will now have a prominent role in framing global crypto regulation. As hosts, India will set the agenda
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While, legally, the commission isn’t obliged to comply with lawmakers' wishes, “if there is a strong political indication or wish for an initiative, that may move the Commission into presenting it,” Kerstens said. “If we don't act on it, we'll have a lot of explaining to do, and I think
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Limits on stablecoins not denominated in euros were among the most controversial elements of the European Union’s Markets in Crypto Assets law. Source
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The JVCEA has cleared the backlog of assets that could have been stuck in a queue for two years. Currently less than 10 assets are in need of vetting, Oda said, adding that the association has five to eight staff members dedicated to reviewing assets. On average, they can review
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