Regulation

Financial product comparison website Finder.com is being sued by Australia’s financial services regulator for allegedly offering a cryptocurrency yield-bearing product without the required license. It’s the second local provider of a crypto yield product to be targeted by the regulator, following action against Block Earner in November The Australian Securities and Investments Commission (ASIC) began

A United States Trustee has announced nine creditors to the committee responsible for part of crypto exchange FTX’s bankruptcy proceedings. According to court documents filed Dec. 15, U.S. Trustee Andrew Vara named crypto market maker Wintermute Asia among those on the ‘Committee of Unsecured Creditors’. Other creditors included individual investors, crypto hedge fund Coincident Capital,

A high-ranking executive at FTX’s Bahamian entity tipped off local regulators of potential fraud perpetrated at the cryptocurrency exchange just two days before the exchange was forced to close. According to Bahamian court records filed on Dec. 14, Ryan Salame, the former co-CEO of FTX Digital Markets (FDM), told the Securities Commission of the Bahamas

After being denied bail in a Bahamas Magistrate Court, former FTX CEO Sam Bankman-Fried could spend up to two months in the country’s Fox Hill Prison, a facility with reported cases of physical abuse against prisoners and “harsh” conditions. Authorities in the Bahamas reportedly remanded Bankman-Fried to the medical wing of Fox Hill following a

Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an “unfair” trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange. The United States Commodities Futures Trading Commission filed a complaint in the Southern District Court in New York

The arrest of the former FTX CEO Sam Bankman-Fried (SBF) by the Bahamian authorities served as a cue for anti-crypto proponents to reignite discussions around the dangers of cryptocurrencies. While some political leaders blame the crypto ecosystem for SBF’s frauds, others find no point in blaming an entire industry for one man’s action. During an FTX hearing in front of

Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests. In a press conference livestream on Dec. 13, Williams said the timing of the arrest of Bankman-Fried had been

The sudden failure of FTX has left many people questioning the impact this will have on the cryptocurrency ecosystem. For instance, it remains questionable whether or not crypto hotspots will continue to flourish or if there will be a decline in innovation.  While it may be too soon to fully understand the impact of the

Thailand joins the growing list of countries that are seeking to revise their crypto regulation in the aftermath of the FTX collapse. And, as most of these countries do, it intends to tighten the guidelines for the industry and focus on investor protection.  According to the report from the Bangkok Post, published on Dec. 13,

Sam Bankman-Fried, the former CEO of the FTX cryptocurrency exchange and founder of Alameda Research, has been arrested and taken into custody by authorities in the Bahamas. According to a letter from the Office of the Attorney General on Dec. 12, Bankman-Fried was arrested by the Royal Bahamas Police Force following formal notification from the

The United States Department of Justice (DOJ) is nearing the completion of its investigation into cryptocurrency exchange Binance, which started in 2018. A report from Reuters suggests there is a conflict among US prosecutors over whether the gathered evidence is enough to press criminal charges against the crypto exchange and its executive or not. The 2018 investigation

Minnesota Senator Tom Emmer has slammed United States Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts” and insisted Gensler should appear before Congress to explain the cost of his “regulatory failures.” Emmer’s comments came from a Dec. 10 tweet to his 67,500 Twitter followers, where he made reference to a

United States-based cryptocurrency exchange Coinbase has asked its customers to convert their Tether-issued USDT (USDT) stablecoin to USD Coin (USDC), a USD-pegged stablecoin issued by Circle and co-founded by Coinbase in 2018. The cryptocurrency exchange suggested that USDC is a much more secure alternative in the wake of the FTX collapse saga and has also exempted

To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws. It is estimated that over one million people have lost their life savings owing to the financial

Since taking over at the United States Securities and Exchange Commission (SEC), chairman Gary Gensler has repeatedly been referred to as the “bad cop” of the digital asset industry. To this point, over the past 18 months, Gensler has taken an extremely hard-nosed approach toward the crypto market, handing out numerous fines and enforcing stringent

Top Stories This Week 7 class action lawsuits have been filed against SBF so far, records show Former FTX CEO Sam Bankman-Fried has been named in seven class action lawsuits filed since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and investigations examining the crypto exchange and its