crypto regulation
Fed's Barr: Regulators Should Use 'Range of Options' in Fintech
Federal Reserve Vice Chair for Supervision Michael Barr spoke at a DC Fintech Week event to a policy-focused crowd, noting that risk management is a key issue for regulators. “The range of options available for dealing with emerging technologies and those benefits are solid,” Barr said. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the details. Plus, insights on negotiations over Congress’ leading stablecoin bill.
OCC Chief Hsu on US Crypto Regulation Outlook
OCC Acting Comptroller of the Currency Michael Hsu shares insights into the agency's role in tackling the crypto industry's biggest regulatory challenges, and what this means for existing banking regulations. Plus, his take on Celsius' implosion.
Report: SEC Probing Bored Ape Creator Yuga Labs Over Alleged Unregistered Offerings
The U.S. Securities and Exchange Commission (SEC) is probing Yuga Labs, the creator of the Bored Ape Yacht Club non-fungible token (NFT) collection, on whether sales of its digital assets violate federal law, according to a Bloomberg report. "The Hash" hosts discuss how this might shape the future of crypto regulation.
US Crypto Regulation: 3 Bills to Watch
The U.S. lacks a clear governing body regulating the crypto industry, with analog laws policing the digital world and misconceptions among lawmakers still running rampant, says Prime Trust in its latest state of regulation report. Prime Trust VP of Regulatory Affairs Jeremy Sheridan discusses the legislation he is watching.
Judge Ordered Independent Examiner to Produce Interim Report on Celsius
U.S. bankruptcy Judge Martin Glenn ruled that the independent examiner in crypto lender Celsius Network’s bankruptcy will need to produce an interim report detailing Celsius’ financial management and handling of customer accounts. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the ruling.
BNB Smart Chain Resumes Operations After 'Potential Exploit' Drained Estimated $100M in Crypto
The BNB Smart Chain (BSC) resumed operations as chain validators adopted a software update that would close the exploit used by hackers to drain funds off-chain. Initial token movements suggested that up to two million BSC tokens, worth roughly $570 million, were targeted by an attacker late Thursday, but Binance CEO CZ Zhao estimated in a tweet that the attacker was only able to get away with $100 million of that. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the details.
Italy Has Yet to Vet a New Registry of 73 Crypto Firms
Companies entered into a new registry for crypto firms say they’ve secured regulatory approval in Italy, but they haven’t been checked for compliance yet. Italy's Organismo Agenti e Mediatori, a supervisory body which oversees its crypto exchanges, told CoinDesk it didn't plan to start collecting information until at least next year. "The Hash" team discusses the state of crypto in Italy.
Celsius’ Top Execs Cashed Out $17M in Crypto Before Bankruptcy
CORRECTION: Since publication, the reporting and headline has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million.
South Korea To Invalidate Terra Founder Do Kwon’s Passport
CORRECTION: Since publication, the reporting and headline of Celsius executives withdrawing crypto has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million. CoinDesk's Nikhilesh De also discusses the latest developments surrounding South Korean officials announcing it would invalidate Terra creator Do Kwon's passport.
South Korean Prosecutors Reportedly Froze $39.6M of Crypto Tied To Do Kwon
Prosecutors in South Korea have frozen $39.66 million of cryptocurrency assets belonging to Terraform Labs CEO Do Kwon, according to Korean media outlet News1. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the report and Do Kwon's response on Twitter.
