Regulation

The judge in charge of overseeing the FTX bankruptcy proceedings has given the embattled crypto exchange the approval to sell some of its assets to aid its efforts in repaying its creditors.  According to a filing in Delaware Bankruptcy Court, Judge John Dorsey has approved the sale of four key units of FTX. The assets

Grayscale filed a reply brief in its appeal of the United States Securities and Exchange Commission (SEC) denial of its application to convert its $12-billion Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF). The brief, filed in the District of Columbia Circuit Court, addressed points made in the SEC reply brief

Less than 48 hours after a raid on cryptocurrency lender Nexo’s offices in the Bulgarian capital of Sofia, prosecutors have reportedly charged four people. According to a Jan. 13 report by Bloomberg, authorities charged four Bulgarian nationals with forming an organized crime group, which may have included activities related to money laundering and unlicensed banking.

The United Arab Emirates (UAE) Cabinet has decided to pass a new law that governs virtual assets, setting up the country’s initial regulatory regime for the cryptocurrency space at the federal level.  Before the federal-level regulation, the UAE already introduced several supervisory initiatives for digital assets in financial free zones like the Abu Dhabi Global

A group of crypto fraud victims of the BitConnect investment scheme will see some respite from the multi-billion dollar fraud scheme after a court ordered they receive a share in a $17 million restitution. The United States District Court for the Southern District of California ordered the restitution for the “massive” scheme on Jan. 12

Joseph Bankman, the father of former FTX chief executive officer Sam Bankman-Fried, has reportedly hired an attorney as the criminal case against his son moves forward. According to a Jan. 12 report from Reuters, Bankman retained Sean Hecker of New York-based law firm Kaplan Hecker & Fink LLP. Bankman-Fried’s father reportedly advised and assisted his

Setting aside the criminal investigations of failed crypto businesses like FTX, Celsius, 3AC, Terra and others, 2022 set the record in illicit on-chain transactions. According to a yearly report published by Chainalysis on Jan. 12, the total cryptocurrency value received by illicit addresses reached $20.1 billion in the last year. The numbers aren’t final, as the

The names of up to nine million FTX customers are set to remain confidential for at least three more months following the latest ruling in FTX bankruptcy proceedings.  The decision was reportedly made by Judge John Dorsey in the Delaware-based bankruptcy court on Jan. 11 in response to a 168-page filing by FTX on Jan.

The City of London has teamed up with a variety of trade associations to form the UK Forum for Digital Currencies, an alliance that will advocate for “better policies, practice and regulation around digital currencies,” according to a statement released by the five members.  Besides the City of London Corporation, the city’s municipal governing body,

When the new licensing program that is scheduled to take off in June arrives, retail traders in Hong Kong will be limited to “highly-liquid” digital assets, according to the new CEO of Hong Kong’s Securities and Futures Commission (SFC), Julia Leung Fung-yee. At the recent Asia Financial Forum, Leung reportedly pointed out that many digital

Bankrupt crypto lender Voyager Digital has received initial court approval for its proposal to sell its assets to Binance.US for $1.02 billion. The approval comes amid a national security probe concerning Binance.US that Voyager is seeking to speed up. On Jan. 10, Judge Michael Wiles of the United States Bankruptcy Court for the Southern District

A group of four United States senators have criticized one of the law firms involved in the bankruptcy case of crypto exchange FTX for conflicts of interest. In a Jan. 9 letter to Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware, Senators John Hickenlooper, Thom Tillis, Elizabeth Warren, and Cynthia

As one of the world’s pioneers in adopting its own central bank digital currency (CBDC), Nigeria declares its readiness to accept the existence of private stablecoins as well. The necessity to create a legal framework for stablecoins is marked in the latest central bank strategy paper.  Published under the headline “Nigeria Payments System Vision 2025”,

The United States Commodity Futures Trading Commission (CFTC) filed suit against self-described digital artist Avraham Eisenberg on Jan. 9, charging him with two counts of market manipulation in connection with an exploit of decentralized finance platform Mango Markets. Eisenberg was arrested on related charges on Dec. 27 and is currently in custody. The CFTC claimed

Xiao Yi, the former Chinese Communist Party secretary of Fuzhou, has confessed to “acting recklessly” in support of crypto mining during a state-run television broadcast.  In an interview released by state-run media on Jan. 8, Xiao seemed to speak with a very subdued voice from what appeared to be prison, apologizing for being a “sinner”

Australian crypto exchange Swyftx is set to shutter its crypto-interest product this week, citing a “constantly changing regulatory landscape” for crypto products in the country.  From Jan. 10, the crypto exchange will cease to operate the “Earn” program, with users having their entire Earn balances returned to their trade wallets. Swyftx said while the decision might