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The Chinese government has plans for a governmental overhaul, according to a new announcement. This includes introducing a new national financial regulator.On Tuesday, March 7, the government announced that its current banking and insurance watchdog, the China Banking and Insurance Regulatory Commission (CBIRC), will be abolished. The responsibilities which previously
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Cryptocurrency firms operating multiple entities in different countries should be overseen by one consolidated “home” regulator to stop them from playing "games" aimed at skirting regulators, the acting head of the United States banking regulator has opined.Michael Hsu, the Acting Head of the Comptroller of the Currency (OCC) made the
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The stock of beleaguered crypto bank Silvergate has taken a new hit as the company weathers intense regulatory inquiries over its FTX association. Silvergate (NYSE: SI) stock plunged more than 10% in after-hours trading after the crypto-friendly bank revealed it might face regulatory inquiries. Yesterday, Silvergate Capital also announced
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The Silvergate filing continued: "There are or will be important factors that could cause the Company’s actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to ... restrictions on the Company’s business, resulting from various litigation (including private litigation) and regulatory and other
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Don’t tar all crypto with the FTX brush, the head of the Financial Market Authority told lawmakers. Source
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Finoa, which has been operating under a preliminary crypto custody license since January 2020, also closed a strategic venture round led by new investor Middlegame Ventures and including existing investors Balderton Capital, Coparion, Venture Stars, and Signature Ventures. The size of the investment was not disclosed. Original Source
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The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel
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The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire.In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent moves to clamp down on the crypto industry,
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The California Department of Financial Protection and Innovation (DFPI) has launched a cryptocurrency scam tracker to help residents “spot and avoid crypto scams.” The regulator stated: “As reports of new crypto scams emerge, the DFPI will continually update this tracker to promptly alert and protect the public.” California Regulator’s Crypto Scam
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The Californian Department of Financial Protection and Innovation (DFPI) has launched a new crypto scam tracker to help traders and investors spot possible industry threats.On Feb. 16, the DFPI launched the tracker based on user complaints. It has compiled a list of crypto-related grievances by victims that claim to have been
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