Regulation

The former CFO of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million that was used to trade cryptocurrencies and “meme stocks.” An April 27 press release from the Department of Justice (DOJ) said Cooper Morgenthau, the ex-CFO of African Gold Acquisition Corp. (AGAC), embezzled more than

Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong inching close on a clear crypto regulatory pathway A few months after prominent industry players lamented the lack of registration pathways for cryptocurrency exchanges in Hong Kong, some respite may finally be on the horizon. On Apr. 27, Julia

Whatever happened to EOS? After the biggest ICO in history, the former top 10 token now languishes around number 53. But the community has since taken back control and is determined to restore the smart contract platform to its former glory. If you’re a newcomer to the crypto industry, you may not even be familiar

The Hong Kong Securities Futures Commission (SFC) is reportedly set to release cryptocurrency exchange licensing guidelines next month. The plans were reported by Bloomberg on April 27, which cited comments from the SFC’s chief executive Julia Leung on Thursday. The incoming guidelines will provide support to crypto trading platforms that will be able to offer

In 2022, Massachusetts Senator Elizabeth Warren authored a bill that would require cryptocurrency wallet providers to comply with bank Anti-Money Laundering rules. No crypto exchanges, mind you, but the wallets themselves. Kansas Senator Roger Marshall joined her on the proposal as a co-sponsor. Sadly, Marshall betrayed the populist principles he ran on as a candidate.

Name: Gabriel Haines Anonymous: No Twitter followers: 45,300Known for: satirical ranting, shiting posting, and comedic content Who is Gabriel Haines anyway?  Gabriel Haines is a content creator, podcaster and Crypto Twitter shitposter who has a proclivity for ripping off his shirt in videos and ranting about the market in a goofy and comedic fashion.  His entertainment value

The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The video came from a “Blockchain and Money” class in the Fall Semester of 2018

Roughly 100 people answered the call from the crypto advocacy groups Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council to show Texas lawmakers they were against legislation targeting crypto mining firms. Gathering at the Texas Capitol in Austin on April 25, crypto enthusiasts, state lawmakers, industry leaders, and even a few members

Troubled digital currency company Genesis Capital saw its settlement disrupted by creditors in two months after the initial agreement, raising concerns about the timing of the process. Genesis’ parent company, Digital Currency Group (DCG), took to Twitter on April 25 to issue a statement on Genesis filing a motion for mediation. The firm said that

A “fast track” option for licensed crypto firms in France to get regulated under the upcoming Markets in Crypto-Assets (MiCA) laws has been mulled by the country’s financial regulator. In a statement published on April 21, the French Financial Markets Authority (AMF) welcomed the approval of MiCA and outlined how French regulation will proceed during

Republican lawmakers with the United States House Financial Services Committee have released a draft of a bill focused on payment stablecoins rather than overseeing other aspects of digital asset markets. A senior Republican committee staffer involved in drafting the legislation told reporters on April 24 that they had narrowed the scope of a stablecoin bill

China is expanding the use cases for its central bank digital currency (CBDC) called digital yuan or e-CNY for its Belt and Road initiative and cross-border trades. The digital yuan a.k.a. digital RMB was one of the first CBDCs to be developed and widely tested. While there hasn’t been an official launch, the government has

The central bank of South Korea has been given the green light to ramp up its scrutiny of cryptocurrency service operators and issuers amid further discussions on virtual asset legislation in the country. On April 20, local media outlet The Korea Herald reported the Bank of Korea (BoK) will be given the right to investigate

United States President Joe Biden will reportedly ban his communications director from handling matters related to any crypto or technology firms he has previously worked with, while allowing him to advise on crypto regulation. According to an April 22 Bloomberg Law report, the White House communications director Ben LaBolt will be barred from “participating in

A notice issued by authorities governing the Chinese city of Changshu stated that all civil servants in its jurisdiction will be paid their full salaries in digital RMB or digital yuan from May 2023.  According to the notice issued by local Chinese authorities, Changshu Local Financial Supervision Bureau and the Changshu Municipal Bureau of Finance,

Sam Bankman-Fried’s legal team have requested a third extension on the enforcement of his revised bail conditions, citing difficulties in installing monitoring software on his parents cell phones to capture a photo of the user “every five minutes.” In an April 19 court filing in the Southern District of New York, Sam Bankman-Fried’s lawyers, Mark