Last week’s biggest news was the CFTC’s (Commodity Futures Trading Commission) lawsuit against crypto exchange Binance. The agency accused the company of unregistered derivatives trading. The accusations don’t end there; CFTC also claims that Binance failed to adopt effective know-your-customer and anti-money…
Popular YouTubers Graham Stephan and Bitboy_Crypto face another billion-dollar lawsuit for allegedly promoting Binance, a cryptocurrency exchange, on their social media platforms. The lawsuit seeks $1 billion in damages and names NBA star Jimmy Butler and Binance CEO Changpeng Zhao as co-defendants….
In a shocking turn, Seychelles-based virtual currency exchange OKX has recently unearthed $157 million in online holdings owned by prominent firms FTX and Alameda Research. As a result of the discovery, OKX has pledged to transfer the assets to the insolvency estates…
The United States Commodity Futures Trading Commission (CFTC) has lodged litigation against Binance, a crypto exchange, and its creator, Changpeng Zhao, accusing them of violating the law by offering cryptocurrency derivatives to customers in the U.S. without being registered. Based on the…
Despite the crypto rally slowing down this week, some leading cryptocurrencies have still increased by double-digit percentages. Credit Suisse’s crisis largely triggered the upward price movement. Initially, the financial institution had requested a $54 billion loan from the Swiss National Bank to…
On March 22, the FTX team agreed to start the recovery of $460 million invested by Sam Bankman Fried in a venture capital Modulo Group. The funds were wired by the FTX affiliate company Alameda research in 2022. Based on the FTX…
A report from the Financial Supervisory Commission of Taiwan (FSC) issued on March 20 revealed that the formulation of the crypto regulatory framework is at its preliminary stage. The report stated that the FSC is tasked to oversee the operation of Taiwan’s…
A class-action legal case proposes that a significant role has been played by Silvergate in the alleged scam that took place at FTX (the crypto exchange of Sam Bankman-Fried). The petitioners assert that the crypto bank has also been responsible for the…
As criticism grows, Gensler’s perspective on cryptocurrencies appears distorted. Upon entering the U. S. Gary Gensler, the chairman of the SEC, has frequently been mentioned as the prohibition tool of electronic possessions and the related sector. The Gensler has taken a very…
Many local news outlets in India reported that the community of the country is taking less interest in its digital rupee. As reported by the Hindu Business, the currency does not show any distinction from internet-based banking, and the consumers were in…
If Tornado Cash had been left alone, Treasury authorities should have promoted the state safety measures more. More than just compromising national security interests is done by Tornado Cash. The need for safety and anonymity When someone first transfers a huge sum…
The former CEO of FTX was ordering calls for court legal proceedings and confounded the cryptocurrency users. The governmental contributions and strong relations with the political parties in the US made Bankman Freed one of the biggest crypto traders. But later all…
Visa, a worldwide provider of payment services, has expressed ambitions to start providing services related to digital wallets. The fintech company has submitted trademark applications to utilize its name in software to access, store and view NFTs and crypto assets. Visa Moves…
On November 21, the government of Kenya introduced changes to the Kenyan Capital Markets Law. The Kenyan government’s approach is to make sure that the taxation on cryptocurrencies is streamlined. The Amendments The amendments suggest that any individual or entity that is…
Nayib Bukele, the El Salvador President recently made a statement showing what a real Bitcoin (BTC) pro sounds like. He is a strong supporter and advocate of Bitcoin and he is proving that with his ambitions. According to him, the current downfall…
Top law enforcement agencies along with the judicial authorities in Turkey and Russia have agreed to the need for Mutual Legal Assistance (MLA) agreement for preventing cybercrimes in the digital industry. Further collaboration will be made between the two countries for stopping…
A press release was published by the Securities Commission of the Bahamas (SCB) on November 14th, 2022 that explained that they had chosen the provisional liquidator for dealing with the FTX situation. According to the SCB, they have opted to hire one…
The financial markets regulator of Australia has taken an action against the FTX branch operating in Australia. The reports coming in have confirmed that the regulator has suspended the exchange’s license. Australia Takes Action against FTX Australia The FTX-backed entity currently operating…
Markets were more than shaken up by the collapse of one of the leading crypto exchanges in the world. The FTX implosion caught the attention of many lawmakers in the United States They used the resulting fiasco as leverage to claim that…
Elizabeth Warren, the US Senator, said that the collapse of the FTX crypto exchange shows that ‘more aggressive enforcement’ is needed for the crypto industry. She added that she would continue pushing the Securities and Exchange Commission (SEC) to implement the law…
