Regulation

The commission in charge of regulating registered charities in England and Wales has announced it had begun investigating Effective Ventures Foundation, an organization tied to bankrupt crypto exchange FTX. In a Jan. 30 announcement, the Charity Commission said it had launched the inquiry due to FTX being a “significant funder” of Effective Ventures. According to

USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation. Circle’s December 2022 reserve report, which was reviewed by GrantThornton accountancy group, breaks down the current make-up of the stablecoin issuer’s reserve vault. According to Circle, 44,553,543,212 USDC is

Panama’s crypto bill saga has reached a new chapter, with the country’s Supreme Court set to decide the future of the local crypto industry. Panamanian President Laurentino Cortizo on Jan. 26 sent the crypto legislation passed last year to the high court for review, claiming the so-called “crypto bill” violates the constitution’s core principles and is unenforceable.

With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms,

The Ministry of Justice in South Korea announced plans to introduce a crypto tracking system to counter money laundering initiatives and recover funds linked to criminal activities. The ‘Virtual Currency Tracking System’ will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according

Top Stories This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a wide range of global companies. Among the potential creditors are airlines, hotels, charities, banks, venture capital companies, media outlets and crypto

Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter

The White House released a statement on Jan. 27 that provided the United States President Joe Biden administration a roadmap for mitigating risks associated with cryptocurrencies. Much of the document was addressed to the U.S. Congress with the administration’s legislative guidance. The authors of the statement outlined a two-pronged path forward. They wrote: “We have

The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the

According to a new report, the controversial law firm Sullivan & Cromwell is on track to reap a fortune from its work on the FTX cryptocurrency exchange’s bankruptcy case. Sullivan & Cromwell’s costs in the FTX case are estimated to reach hundreds of millions of dollars before the firm’s bankruptcy investigation is over, Bloomberg Law

The United States Securities and Exchange Commission (SEC) has been probing traditional Wall Street investment advisors that may be offering digital asset custody to its clients without the proper qualifications. A Jan. 26 Reuters report citing “three sources with knowledge of the inquiry” said the SEC’s investigation has been going on for several months already

The SEC has once again rejected a proposal to list the ARK 21 Shares Bitcoin ETF on equities exchange Cboe BZX, according to Jan. 26 statement from the SEC. The SEC rejected a similar proposal in April, 2022. The SEC has just now once again rejected ARK’s and 21Shares spot bitcoin, $BTC ETF listing. —

Authorities in the United States might have discovered yet another possible component of Sam Bankman-Fried’s cryptocurrency empire. U.S. federal prosecutors have alleged that Bankman-Fried has used money from FTX exchange to invest in the venture capital (VC) firm Modulo Capital, according to The New York Times. As previously reported, SBF’s hedge fund and FTX’s sister firm,

United States senator and crypto skeptic Elizabeth Warren wants the Securities Exchange Commission (SEC) to “double down” on its crypto enforcement efforts, highlighting that the cryptocurrency industry is running “scared” for what’s to come next. Warren’s comments came during an interview with the American Economic Liberties Projects on Jan. 25. The senator opined that since

Gabriel Makhlouf, the governor of the Central Bank of Ireland, reportedly supports legislation which would ban advertising crypto projects to young people. According to a Jan. 25 report from Bloomberg, Makhlouf said before the Committee on Finance, Public Expenditure and Reform, and Taoiseach there was an “uncomfortable” level of crypto advertisements targeting young adults. The

Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.  GGC International, a part of the bankrupt crypto lender, filed the suit against Ver in the New York State Supreme Court on Jan. 23, claiming that the BCH proponent has failed to