Policy & regulation

Liquidators of South African Bitcoin Trading Club Request Greater Probe Powers

Provisional liquidators are seeking greater powers to investigate a defunct cryptocurrency trading firm after it was allegedly discovered to be lying to investors and operating illegally. According to a report by Bloomberg on Friday, Mirror Trading International (MTI) is set to be put under the microscope by four liquidators following an investigation from South Africa’s …

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What Crypto Can Expect From Gary Gensler at the SEC

This week, reports emerged that Gary Gensler, the former chairman of the Commodity Future Trading Commission (CFTC) is set to be President-elect Joe Biden’s choice to take over the Securities and Exchange Commission (SEC). This is good news for the digital assets industry. From my experience with Gensler, whether the subject is digital assets, swaps …

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‘Was This Correct?’ Twitter’s Dorsey Asks About Banning Trump and Then Says ‘Yes’

Twitter CEO Jack Dorsey took to (where else?) Twitter to ask the question “Was this correct?” regarding his company’s decision to ban U.S. President Donald Trump from the platform following last week’s attack on the Capitol. After that opening expression of doubt, he proceeded to answer that yes, it was. UPDATE (Jan. 14, 02:00 UTC): …

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OCC Chief Brian Brooks Is Stepping Down Thursday

Brian Brooks, who was named the temporary head of the Office of the Comptroller of the Currency (OCC) last summer, made the announcement official a day after he was rumored to be departing. His departure will come a day after the federal banking regulator granted crypto custodian Anchorage a conditional trust charter, making it the …

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How the OCC Is Building Crypto America (and Saving Banks From Extinction)

Over the last 12 years, $1 trillion of value has appreciated into existence. It may be a little more or a little less tomorrow, give a few $100 billion. It may one day reach $10 trillion or $100 trillion or stay at $1 trillion forever. It may even go to $0. But regardless of all …

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GemCoin Founder Sentenced to 10 Years for $147M Crypto Scheme

Gemcoin founder Steve Chen was sentenced Monday to 10 years in federal prison for defrauding tens of thousands of investors in one of the largest early cryptocurrency investment schemes. Chen, 63, admitted last February to running U.S. Fine Investment Arts (USFIA) and peddling $147 million in “gem coins” (crypto purportedly backed by gems) to over …

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Donald Trump Banned From Twitter in Final Days of Presidency

U.S. President Donald Trump has been permanently banned from Twitter, less than two weeks before he is set to leave office. Twitter announced the move late Friday, saying it had conducted a “close review” of the President’s recent tweets and how they were being received, and concluding that two tweets on Friday might lead to …

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Kyrgyzstan Has Proposed Its First Regulatory Framework for Crypto

The National Bank of Kyrgyzstan has published draft legislation that would legally define cryptocurrency and how it may be used in the Central Asian nation. With the proposed legislation, the central bank is following the call of the Financial Action Task Force (FATF) to regulate cryptocurrencies and prevent related money laundering and terrorism financing risks, …

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Ripple ‘Tried’ to Settle With SEC Ahead of XRP Suit, CEO Says

Ripple tried to settle charges of conducting unregistered securities transactions with the U.S. Securities and Exchange Commission (SEC) before the federal regulator sued it in December, CEO Brad Garlinghouse said Wednesday. In a Twitter thread, Garlinghouse addressed what he described as five “key questions” about the SEC’s suit against Ripple, though he warned that he …

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Former Bakkt CEO Kelly Loeffler Loses Senate Seat

Former Bakkt CEO Kelly Loeffler (R-Ga.) will not return for a full term as a U.S. Senator, AP projected Wednesday. Loeffler, who ran against Democrat Raphael Warnock, left the crypto warehousing company late in December 2019 to fill former Sen. Johnny Isakson’s seat, after Isakson (R-Ga.) stepped down due to health concerns. Tuesday’s special election …

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