Cryptocurrency Analysis and News Portal
According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house of cards on a foundation of
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This year’s events – culminating recently with the implosion of one of the global crypto giants, FTX – “have revealed that the crypto industry risk management practices are weak, that stablecoins may not be stable, and that contagion risk within the crypto industry is high,” said Hsu, who has been
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Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies.According to a Dec. 6 report from Bloomberg, FTC spokeswoman Juliana Gruenwald said the watchdog is investigating “several firms for possible misconduct concerning digital assets.” Gruenwald did
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Australia's markets regulator, ASIC, is suing the company for allegedly providing financial services that should be licensed, leaving "consumers without important protections." Source
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A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation. Advisory Board to Take On Matters Related to Cryptocurrency Taxation
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Since 2018, the international body has looked to define virtual assets and service providers in order to apply guidelines for anti-money laundering (AML) and combatting the financing of terrorism (CFT) to the crypto industry. In 2021, it published updated guidance for virtual asset service providers. Earlier this year, it said
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The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year,
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According to the National Consumer Commission, about 4,000 South Africans who invested in a bitcoin mining equipment supplier, Obelisk, may have participated in a pyramid scheme. The commission said participants in the pyramid scheme may have lost as much as over $6 million. Obelisk Used Social Media Platforms to Lure
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“I greatly admire the approach that was taken by the AMF” in setting up the system and ensuring protections for young investors seeking to get into crypto, said Barbat-Layani, who was Director-General of the French Banking Federation from 2014 to 2019. “It was a form of bet, not necessarily welcomed
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“This turmoil has once more underlined the need for a comprehensive approach to crypto-asset regulation,” Knot added, after a volatile year that saw the price of major assets like bitcoin (BTC) and ether (ETH) tumble, and the total collapse of companies like crypto lender Celsius Network. Tuesday’s reports are a
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