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Fourteen years after Bitcoin's Genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies' future and economic impact.On Dec. 14, the Financial Accounting Standards Board (FASB) discussed new accounting and disclosure requirements for
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The US Securities and Exchange Commission (SEC) is increasing its scrutiny of audits of cryptocurrency companies and warning both investors and audit firms, WSJ reported. Source
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On Dec. 21, U.S. law enforcement officials from the Southern District of New York (SDNY), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) revealed they imposed fraud charges against FTX co-founder Gary Wang and ex-Alameda Research CEO Caroline Ellison. After Wang’s and Ellison’s surrender announcement,
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With more regulators eyeing the crypto space as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved. In an email to its customers, Superhero highlighted that it will not be proceeding with its merger with the crypto exchange. According
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Short investment products, which bet on the price of an asset to drop, accounted for 75% of all inflows, a report by digital asset investment and trading group CoinShares found. Inflows for bitcoin (BTC) totaled $14 million, but considering the popularity of short-term investment vehicles, net flows added up to
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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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The Board of the International Organization of Securities Commissions (IOSCO) believes regulators on both national and international levels need more power to address increasing risks and challenges from the “digitalization of retail marketing and distribution.”In a report published on Oct. 12, IOSCO proposes measures for its member countries to consider when
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Ethereum has been seeing increased regulatory scrutiny in recent months. This comes following the network’s move to a proof of stake mechanism
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Securities and Exchange Commission (SEC) Chair Gary Gensler on Thursday said that staked cryptocurrencies may be subject to federal securities regulations, repeating a pro-oversight stance in the wake of Ethereum’s transition to just such a method. Original Source
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