Regulation

The United Kingdom National Police Chiefs' Council reportedly has officers trained for crypto enforcement in police forces throughout the region. Detective chief superintendent Andrew Gould revealed this during a discussion on the U.K. Economic Crime and Corporate Transparency Bill on Oct 25.  UK Officers Equipped to Handle Crypto Crime King Charles announced the aforementioned bill in May and by September it had made its way to Parliament. The policy seeks to eradicate “dirty money” within the nation. It also aims…

Two of America’s top financial regulators may not see eye-to-eye on Ether’s legal status.  Rostin Benham – Chairman of the Commodities and Futures Trading Commission (CFTC) – reiterated on Monday that he views the asset as a commodity. However, he claims Securities and Exchange Commission (SEC) chairman Gary Gensler may think otherwise. Ether: Commodity or Security? The debate surrounding Ether will ultimately determine which agency has regulatory jurisdiction over the asset. Benham’s position aligns with what would give his agency…

Cryptocurrency becomes more attractive for investment as the Securities and Exchange Commission (SEC) becomes more strict, per a recent study. As it showed, investors are now feeling more optimistic about Bitcoin’s price outlook heading into the end of the year. The Bright Side of Regulation The survey, conducted by MLIV Pulse, garnered 544 responses from different mark participants. Nearly 60% of the investors viewed the commission’s recent legal actions as a positive for crypto as an asset class. The SEC…

Martin Gruenberg – Chairman of the Federal Deposit Insurance Corporation (FDIC) – has expressed worry over how stablecoins could affect U.S. banking.  During a speech at the Brookings Institution on Thursday, the chairman said a payment stablecoin could “fundamentally alter the landscape of banking.” “Economies of scale associated with payment stablecoins could lead to further consolidation in the banking system or disintermediation of traditional banks.”  Federal Reserve Vice chair Lael Brainard has previously noted similar risks, recommending a CBDC to…

In a recent interview with crypto journalist Laura Shin of the Unchained podcast, Terra founder Do Kwon opened up about the platform’s resounding crash. The TFL CEO took full responsibility for the collapse, apologizing for his earlier "arrogance". He also addressed the fraud allegations he is currently facing.  Fraud Allegations are Invalid, Says Do Kwon The interview lasted over 1 hour and saw Shin ask numerous questions relating to the collapse. Shin's interview bordered on the scam accusations leveled against…

Per an Oct 14 court filing, the Texas State Securities Board (TSSB) has commenced an investigation into the crypto exchange FTX. The probe aims to address possible securities violations and extends to the US division FTX.US and CEO Sam Bankman-Fried. Joseph Rotunda, the regulator’s Director of Enforcement, submitted the complaint to the bankruptcy court in charge of FTX’s acquisition of Voyager Digital’s assets. Illegal Access to FTX’s Yield Program Joseph Rotunda has accused the crypto exchange of breaching state policy…

In an official release on Thursday, stablecoin firm Tether revealed that it has completely eliminated commercial paper holdings from its reserves. This a major move for Tether as the platform has drawn several questions regarding the stability of the USDT token given the state of its reserves.  US Treasury Bills Displace Commercial Paper According to the publication, in place of commercial paper, Tether now holds US Treasury bills. The company described this accomplishment as another step toward greater transparency. Tether…

The European Union has taken a major step toward the regulation of cryptocurrencies within the region. In a recent vote, the European Parliament Committee on Economic and Monetary Affairs (ECON) showed almost unanimous support for forthcoming crypto regulation policies. 28 Members Vote in Support and 1 Against Committee member, Stefan Berger revealed in a Twitter post that the ECON has approved the Markets in Crypto-Assets framework, MiCA. Berger described the move as “good news” in a tweet announcing the vote.…

In a Friday blog post, Bitmex co-creator Arthur Hayes shared his thoughts on how fiscal authorities will respond to unfavorable economic conditions. This is after the Bank of England revealed it would buy an unlimited amount of government bonds to palliate the effect of the current inflation. Indeed, the entrepreneur believes central banks globally will soon turn to money printing as a solution to the currently worsening inflation. He is also certain this will drive up the price of digital…