Regulation

An employee of FTX’s charity wing recruited by FTX co-founder Sam Bankman-Fried is trying to get paid $275,000, the remainder of his claimed 2022 salary bonus. Ross Rheingans-Yoo’s lawyers argued in a Nov. 13 court filing that only $375,000 of his $650,000 bonus was paid by FTX. They claim the remaining funds were owed when

The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC

The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem. The hearing, ‘Crypto crime in context: breaking down the illicit activity in digital assets,’ will feature prominent crypto entrepreneurs as attendees. According to the Committee’s calendar, Mr. Bill Hughes, senior

Crypto exchange Bithumb plans to become the first digital asset company to go public on the South Korean stock market.  Local news outlet Edaily reported on Nov. 12 that Bithumb is getting ready for an initial public offering (IPO) on the KOSDAQ — South Korea’s version of the United States Nasdaq — with an expected

Just under 50 national governments have issued a joint pledge to “swiftly transpose” the Crypto-Asset Reporting Framework (CARF), the new international standard on automatic exchange of information between tax authorities, into their domestic law systems. The statement was published on Nov. 10.  The Organisation for Economic Cooperation and Development (OECD) published the CARF in 2022.

Cryptocurrency exchange Binance is progressing with its exit from Russia and is preparing to terminate local currency deposits next week. Binance will stop accepting deposits in Russian rubles (RUB) starting Nov. 15, 2023, the firm officially announced on Friday. Binance also advised users to withdraw RUB from the platform as it expects to terminate RUB

Attorney John Deaton, representing XRP holders, has made a persuasive case in the Ripple vs. SEC legal saga, suggesting that the anticipated $770 million disgorgement for Ripple is improbable. He grounds his prediction on various influential factors that could sway the court’s judgment. Deaton underscores the significance of the Supreme Court’s Morrison ruling, which effectively

The Indian Supreme Court declined to consider a Public Interest Litigation (PIL) that aimed to establish regulations and a framework of guidelines for cryptocurrency trading in India. According to a report, the bench headed by the Chief Justice of India (CJI), after listening to the plea, remarked that the petitioner’s demands are more legislative in

Nonprofit ethics group Campaign for Accountability (CfA) sent a letter to U.S. Senators Elizabeth Warren and Sherrod Brown on Nov. 9 to present them with information on the alleged use of cryptocurrency in money laundering. The letter discussed the Tron blockchain and stablecoin issuer Circle in particular. In the letter signed by CfA executive director

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The exploiter behind the $116-million theft of assets from Mango Markets will face trial in April next year after the accused convinced the judge to postpone the

The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences. It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the

The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated. In a Nov. 9 press release, the parliament said the legislation passed 481 votes to 31 against. To become law, it will now need approval from the European Council

The Proof of Stake Alliance (POSA), a nonprofit organization that represents firms in the crypto staking industry, published an updated version of its “staking principles” on Nov. 9. Previous version of the POSA staking principles. Source: POSA POSA represents 15 different firms in the staking industry, including Alluvial, Ava Labs, Blockdaemon, Coinbase, Credibly Neutral, Figment,

A report issued by the Office of the Maine State Treasurer highlighted the U.S. state’s interest in officially managing the abandoned and recovered crypto assets. The program evaluation report of Maine uncovered the state’s lack of preparedness when it comes to handling cryptocurrencies. It read: “Our office does not currently handle cryptocurrency, but programs like

Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement. On Nov. 8, Emmer attached an amendment to HR 4664 — the Financial Services and General Government Appropriations Act, or federal budget. The amendment, which has passed unopposed, prohibits the

Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new