A 2022 trial date has been set for former NFL team owner and alleged “shadow banker” Reggie Fowler. Fowler is the accused operator of the shadow bank to the crypto sector, Crypto Capital which was at the center of controversy in the court case against IFinex Inc — the parent company of crypto exchange Bitfinex
Regulation
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Much like last week, China’s minor COVID flareups dominated the headlines as the country seeks to avoid more serious lockdowns. Cryptocurrency managed to
Chris Waller, a member of the Board of Governors of the Federal Reserve System, seems to think it’s unnecessary for the U.S. government to develop a central bank digital currency. Speaking with Michael Strain of the American Enterprise Institute today, Waller said he was “highly skeptical” of a central bank digital currency, or CBDC, addressing
Amid the United States Securities and Exchange Commission (SEC) expanding the scope of oversight of the cryptocurrency industry, a commissioner with the Commodity Futures Trading Commission (CFTC) argued that crypto regulation doesn’t fall under the SEC’s jurisdiction. CFTC commissioner Brian Quintenz took to Twitter on Wednesday to declare that cryptocurrencies like Bitcoin (BTC) should be
Lawmakers have written an amendment to an infrastructure bill in the U.S. Senate which proposes excluding certain crypto companies from the reporting requirements for brokers. In an amendment from Oregon Senator Ron Wyden on behalf of himself and Wyoming Senator Cynthia Lummis and with the support of Pennsylvania Senator Pat Toomey, the U.S. lawmakers suggested
Federal authorities in Russia are moving forward with a plan to closely monitor cryptocurrency activity for illicit transactions and deanonymize crypto users’ identities. The Russian Federal Financial Monitoring Service (Rosfinmonitoring) has selected a contractor for developing a platform for tracking cryptocurrency activity. According to data from Russia’s state procurement website, the country will allocate 14.7
A new report from Chainalysis has found that while China’s share of global criminal crypto flows has been falling since the third quarter of 2019, the country still represents a disproportionate amount of illicit cryptocurrency activity. In its August 3 Cryptocurrency and China report, Chainalysis stated that more than $2.2 billion worth of crypto had
Gary Gensler, the Chair of the United States Securities and Exchange Commission, or SEC, believes that the blockchain revolution started by Satoshi Nakamoto in 2008 is more than just a fad, but a real value proposition for the future of the internet. In an interview with the Aspen Security Forum on Tuesday, Gesler talked about
Banks in the United Kingdom continue cracking down on Binance cryptocurrency exchange, with banking giant HSBC reportedly becoming the latest bank to cut payment channels to the platform. A series of alleged HSBC clients reported on Twitter this Monday that HSBC UK had suspended credit card payments to Binance. According to an alleged announcement on
South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations. The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, local news agency The Korea Herald reported Sunday.
The lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission, or SEC, now involves major crypto exchange Binance after a recent filing on behalf of Ripple CEO Brad Garlinghouse. According to court documents filed in the Southern District of New York on Monday, Garlinghouse’s legal team has requested documents “relevant to the case
Nonfungible tokens, or NFTs, are known by the mainstream as digital assets that represent real-world objects such as art, music and fashion, among others. Yet, while most of the world may be enamored by the high selling prices of NFTs launched by celebrities, athletes and other famous individuals, nonfungible tokens are starting to pique the
Nigerian cryptocurrency adoption continues to rise in spite of government crackdown, with peer-to-peer (P2P) trade volume for Bitcoin posting its second strongest week on record last month. According to data from Google Trends, Nigeria still ranks number by search interest for the keyword “Bitcoin” as of this writing. P2P Bitcoin trading denominated in the Nigerian
BlockFi’s eventful 2021 has continued in the second half of the year as state regulators in the United States began to crack down on the company’s crypto interest-bearing accounts. The move likely marks another operational headache for the non-bank lender in a year of substantial fundraises and public listing plans interspaced by controversy and technical
Representative Ted Budd of North Carolina, a member of the House Financial Services Committee and Congressional Blockchain Caucus, has urged lawmakers to embrace decentralized innovation. In what appears to be the first occasion in which a publicly elected official has met with a decentralized autonomous organization (DAO), Budd acknowledged the increasing concern about crypto among
Beginning on August 2, 2021, German institutional funds will be able to hold up to 20% of their assets in cryptocurrencies, possibly setting the stage for wider mainstream acceptance of Bitcoin (BTC) and other crypto assets by the nation’s pension funds. As Bloomberg reports, the new law alters fixed investment rules governing Spezialfonds, also known