Regulation News

The chief economist said the Supervisor of Financial Service Providers and the Israel Securities Authority should be granted more powers to oversee the industry.

The FTX saga has made some crypto executives, researchers, analysts, and politicians more aligned on regulation than ever.

The payments will exclude former FTX CEO Sam Bankman-Fried, and certain former execs including Gary Wang, Nishad Singh, and Alameda's Caroline Ellison.

In June, Christine Lagarde said a potential MiCA II framework “should regulate the activities of crypto-asset staking and lending, which are definitely increasing.”

The House event, titled "Investigating the Collapse of FTX," will follow a similar hearing in the Senate Agriculture Committee scheduled for Dec. 1.

The U.S.-based crypto exchange agreed to pay more than $362,000 as part of a deal “to settle its potential civil liability” related to violating sanctions against Iran.

The opposition party MPs has questioned the credibility over its failure to protect retail investors from FTX collapse and had demanded data on the extent of losses incurred by the investors.

Ripple’s APAC policy director said the collapse of FTX is exactly why crypto needs to move away from “hype cycles” and toward “real utility.”

The EU moved in the right direction by passing a law requiring influencers to disclose the risks associated with crypto. More countries should follow their lead.

Adams said New York is still focused on becoming a crypto hub, but statewide efforts to reduce emissions can be combined with this goal.

The first and the last major attempt to encourage a comprehensive crypto framework was buried in the House of Commons on Nov. 23.

Congressman Tom Emmer showed concerns about the oversight strategy implemented by Gary Gensler, the chair of the U.S. Securities and Exchange Commission for the crypto ecosystem.

The last week of November remained turbulent for the crypto market as majority of the DeFi tokens struggled with the market volatility.

Following FTX’s downfall, experts believe that centralized exchanges will be faced with increased regulatory scrutiny, potentially eliminating a lot of players from the fray.

Turkey’s Financial Crimes Investigation Board has seized assets belonging to Sam Bankman-Fried after launching an investigation into FTX’s affairs in the country.