Cryptocurrency Analysis and News Portal
The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX. California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that
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The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance walked away from the acquisition of FTX. U.S. Regulators and
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Armstrong is protecting his own interests here, now that figures like Sen. Elizabeth Warren (D-Mass.) and Gensler are calling for tighter regulation of U.S. exchanges. Clearer rules are clearly needed but have to be done right. Given the inherently borderless nature of crypto, if regulators get overly burdensome, they would
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Changpeng Zhao, the chief executive officer of crypto exchange Binance also known as “CZ,” warned users its intention to acquire FTX may invite scrutiny from global regulators — but the firm is ready.In a letter to Binance staff tweeted on Nov. 9, CZ said though the deal to acquire another
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"Agencies usually impose remedies when fewer competitors are left, and when markets are not as dynamic, but antitrust agencies also need to show teeth in what they consider to be a space where consumers need their protection," Schrepel, an associate professor at Amsterdam University said, adding that the review would
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The combined company would have a more than 80% share of the global crypto market, the report said. Original Source
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Last month’s proposal from Sam Bankman-Fried, CEO of crypto exchange FTX, for regulators to establish a litany of standards for the cryptocurrency industry poses an existential threat to decentralized finance (DeFi) platforms and entrepreneurial spirit. As one of a select few with the capital and clout to move the needle
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In the aftermath of the Terra collapse last spring, South Korean legislators intend to ramp up legislation, putting specific emphasis on the protection of investors in virtual assets — i.e. digital currencies — and harshening penalties for unfair trade acts in the industry.According to local media, the Financial Services Commission
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Several Democratic members of the United States Senate and House of Representatives have requested information from top regulators and agencies in the country regarding crypto firms hiring government officials upon their departure.In letters dated Oct. 24 addressed to the heads of the Securities and Exchange Commission, Commodity Futures Trading Commission,
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U.S. Senator Elizabeth Warren ((D-Mass.) and Representative Alexandria Ocasio-Cortez (D-N.Y.) have asked regulators to clarify their rules on former employees obtaining roles in the crypto industry. Original Source
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