Russia Delays Crypto Mining Bill, What Does It Mean for Miners?
The future of cryptocurrency mining in Russia is uncertain as the government delays its new bill regulating the industry.
Category: Regulations
SEC Sounds Alarm on Crypto Proof-of-Reserve Audits: Don’t Be Fooled
In an interview with The Wall Street Journal, SEC acting chief accountant Paul Munter stated that these audits "lack" sufficient information for stakeholders to determine whether a company has enough assets to meet its liabilities.
Bankman-Fried Free on $250 Million Bail
Sam Bankman-Fried, the founder of crypto exchange FTX, has been granted a $250 million bail bond by a judge in New York. Bankman-Fried will be under house arrest and required to wear an electronic monitoring bracelet while awaiting trial.
SEC Could Ban Crypto Exchanges Following FTX Case
The Securities and Exchange Commission (SEC) could potentially ban crypto exchanges following its recent charges against Caroline Ellison and Gary Wang, former CEO and co-founder of FTX respectively. The agency referred to FTX's native token FTT as an "illiquid crypto asset security," implying that the SEC views all crypto assets…
FTX Allocates $1 Billion in Assets to Resolve Financial Shortcomings Following Bankruptcy
Despite facing bankruptcy and the arrest of its CEO, Sam Bankman-Fried, FTX has announced the allocation of $1 billion in assets, including $720 million in cash, in an effort to resolve the financial shortcomings of the platform. Keep reading for more information on this development and the actions being taken…
FSCO 2022 Annual Report: Spot Market Under Fire
The Financial Stability Oversight Council has released its annual report for 2022, which touches on the rise and potential risks of spot trading crypto assets. Find out what you need to know before entering the volatile world of crypto trading.
US Crypto Ban Proposed by Senate Banking Chairman – Is This the End of Cryptocurrency in America?
The suggestion of a ban on cryptocurrency in the United States has been raised by Senate banking chairman Sherrod Brown, who has been actively working with Senator Elizabeth Warren to quash the crypto sector in the country. But is a ban on crypto really the solution? Find out more in…
Insurers Deny Coverage to Crypto Firms with Exposure to Bankrupt FTX Exchange
Insurance companies are denying coverage to crypto firms with exposure to bankrupt FTX exchange, leaving digital currency traders and exchanges uninsured for any losses from hacks, theft, or lawsuits.
Is Binance the Next FTX?
Binance faces legal investigation, heavy withdrawals, and customer concerns over fund safety. Legal experts say a "proof of reserves" report from accounting firm Mazars was insufficient in reassuring customers. Binance CEO Changpeng Zhao has assured customers they can withdraw "100% of the assets they have on Binance."
Senator Pat Toomey Debunks Misconceptions about Cryptocurrency Following FTX Collapse
U.S. Senator Pat Toomey stresses importance of proper regulation in wake of FTX crypto exchange collapse. Toomey argues that banning crypto would be "profoundly misguided" and calls for regulatory clarity to ensure well-regulated exchanges can operate and provide benefits to consumers.
