Regulation

Crypto exchange FTX joined many other fallen projects — including Terra (LUNA), 3AC, Celsius and Voyager — in filing for bankruptcy in 2022. Owing to the devastation caused by multi-billion dollar losses suffered by businesses and investors, the man running the biggest crypto exchange, Binance CEO Changpeng “CZ” Zhao, envisions an era of greater regulatory

On the night of Nov. 11, several wallet addresses linked to FTX were found transferring millions of dollars worth of cryptocurrencies without an official notice — sparking speculations ranging from the commencement of FTX’s bankruptcy proceedings to the involvement of hackers. Within hours, FTX confirmed on Telegram that the fund transfers were part of an

The world’s third-largest cryptocurrency exchange, FTX, started the year with a $400 million Series C funding round, taking its valuation to over $32 billion. Ten months later, the crypto exchange is staring down the possibility of bankruptcy after its bid to be acquired by Binance failed. FTX was seen as one of the largest global

The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its Europe arm. According to a Nov. 11 Reuters report, the CySEC said it had asked FTX Europe to “suspend its operations and to proceed

The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX.  California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that the department expects all

The Bahamas Securities Commission (BSC) — the country’s securities regulator — froze the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10 and suspended FTX’s registration in the country. In a statement the BSC said it was aware of “public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda

Maxine Waters, chair of the United States House of Representatives Financial Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection amid FTX facing liquidity issues. In a Nov. 10 statement, Waters cited FTX’s difficulties as the latest example of incidents “involving the collapse of cryptocurrency companies” and how such events

Coinbase CEO Brian Armstrong was not delighted with the news about the United States regulators looking into FTX.US along with Coinbase and Binance.US in the wake of the FTX crisis. Armstrong said that the enforcement action against U.S.-based companies for the irregularities committed by an offshore crypto exchange that fall out of the jurisdictions of

European Parliament economics committee member Stefan Berger has compared the current situation with FTX to the 2008 financial crisis, using “such Lehman Brothers moments” in justifying the need for regulating crypto. In a Nov. 9 tweet, Berger said proper regulation was needed to avoid issues which “cost enormous trust” in the crypto space, amid FTX

As countries around the world race to launch a central bank digital currency (CBDC), some jurisdictions have slowed down or dropped out of the race altogether. While many observers were pushing a narrative of urgency around CBDCs, some countries have decided that launching a CBDC isn’t currently necessary, while others have tested CBDCs only to

The feud between the CEOs of crypto exchanges FTX and Binance — Sam Bankman-Fried (SBF) and Changpeng “CZ” Zhao — not only crashed cryptocurrency prices but also reminded regulators to step in and avoid similar fallouts in the future. Ever since CZ publicly announced Binance’s intent to liquidate its FTX Token (FTT) holdings, investors anticipating

The United States Treasury Department’s Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals. In a Nov. 8 announcement, the Department of

The Federal Financial Supervisory Authority of Germany, also known as BaFin, has issued an order related to the business organization of Coinbase’s local arm in accordance with the country’s banking laws. In a Nov. 8 notice, BaFin said it had issued the order to Coinbase Germany GmbH for violations of “proper business organization” under the

Smaller cryptocurrency exchanges and start-ups could benefit from the European Union’s Markets in Crypto-assets (MiCA) regulation, according to Martin Bruncko, Binance’s executive vice president of Europe. Cointelegraph had a one-on-one interview with Martin Bruncko during the Web Summit conference in Lisbon early in November 2022. Heading up Binance’s operations across Europe, Bruncko offered unique insights

A United States District Court ruled in favor of the Securities and Exchange Commission (SEC) Nov. 7 in its case against blockchain-based file-sharing and payment network LBRY. The court granted the SEC’s request for a summary judgment filed May 5. The SEC sued developer LBRY, Inc. in March 2021 — after the agency had brought

The United States Attorney’s Office for the Southern District of New York has announced that an individual has pled guilty to wire fraud charges connected to “unlawfully obtained” Bitcoin from the Silk Road marketplace in 2012. In a Nov. 7 announcement, the U.S. Justice Department said James Zhong pled guilty to wire fraud charges related