Crypto Regulation News and Insights

The latest crypto regulation news and insights to help you become an expert

Latest News

Binance.US Gains Initial Approval For Voyager Acquisition Deal

Judge Michael Wiles approved the disclosure statements regarding Binance.US’ plans to acquire Voyager Digital for $1.022B.

US Regulators Probe Digital Currency Group Over Internal Financial Transfers

The US Securities and Exchange Commission and the Department of Justice have launched investigations into Digital Currency Group over internal financial transfers between the firm and Genesis.

Judge Rules Celsius Owns Assets Held In Earn Accounts

Martin Glenn, the federal judge presiding over the Celsius bankruptcy case, ruled that the interest-bearing Earn accounts belong to Celsius.

SEC Opposes Binance.US’ $1B Deal For Acquiring Voyager Digital

The US Securities and Exchange Commission (SEC) has filed a limited objection to Binance.US’ ongoing discussions with Voyager Digital to purchase its assets for $1.022B.

Coinbase Reaches $100M Settlement With NYDFS Over Shortcomings In Compliance Program

Coinbase has agreed to pay a $50M penalty to New York regulators. The exchange will invest another $50M in its compliance program over the next two years.

CFIUS To Review Transactions Made By Voyager

The Committee on Foreign Investment in the United States announced it will evaluate transactions involving purchase, merger, or acquisition of Voyager Digital by foreign companies.

Two Former FTX Executives Plead Guilty To Fraud

Former FTX executives Caroline Ellison and Gary Wang pleaded guilty to charges of committing fraud as the exchange’s former CEO, Sam Bankman-Fried, was extradited to the US.

DFPI Orders MyConstant To Refrain From Offering Crypto-Related Services

The California Department of Financial Protection and Innovation (DFPI) ordered MyConstant to cease providing crypto-related services to its Californian clients.

Coinbase CEO Proposes Guidelines For Regulation Of Crypto Industry

Brian Armstrong outlined a blueprint for regulating centralized actors and stablecoin issuers in the wake of FTX’s collapse.

Australian Government Set To Release Regulatory Framework For Cryptocurrencies in 2023

Australia’s government looking to roll out a regulatory framework for the crypto industry in 2023.

CFTC Declares Bitcoin, Ethereum And Tether As Commodities

The Commodity Futures Trading Commission labeled Bitcoin, Ethereum and Tether as commodities in its lawsuit against FTX and Alameda Research.

Coinbase Reports 66% Increase In Law Enforcement Requests Since Last Year

In its latest transparency report, Coinbase reported a significant increase in law enforcement requests between October 2021 and September 2022.

Bahamian Authorities Arrest FTX Founder Sam Bankman-Fried

Sam Bankman Fried, the Founder and Ex CEO of FTX, was arrested by the Royal Bahamas Police Force after US lawmakers filed criminal charges against him.

Court Approves The Issuance Of Subpoenas To 3AC Co-Founders

The court has authorized the issuance of subpoenas to 3AC co-founders. Liquidators now have permission to demand documents, communications, financial records, or any information related to the hedge fund since 2012.

FTX Reportedly Secured Its Australian License Through A Loophole

FTX Australia acquired the AFSL by purchasing IFS Markets in December 2021. This allowed FTX Australia to operate without undergoing any regulatory tests. 

Liquidators Seize $35.6M From Three Arrows Capital

Teneo seized $35.6M from Three Arrows Capital’s bank accounts in Singapore following a lack of cooperation from its founders.

US Trustee Requests Court To Appoint External Examiner In FTX Bankruptcy Case

US Trustee Andrew R. Vara filed a motion with the Delaware Bankruptcy Court to hire an independent examiner to investigate FTX’s collapse.

US Senator Requests Major Crypto Exchanges To Disclose Consumer Protection Safeguards

Ron Wyden, the Chairman of the Senate Finance Committee, sent letters to the CEOs of six crypto exchanges asking them to reveal the measures they use to protect clients' funds.

Alabama State Regulator Begins Investigations On Genesis

Alabama Securities Commission is investigating Genesis Global for violation of security laws. The regulator aims to ascertain if Genesis enticed residents to invest without proper registration.‍

Attorney Claims Substantial Amount Of FTX’s Assets Are Stolen Or Missing

James Bromley reported that a large portion of FTX’s assets remain unaccounted for. He claimed that FTX has begun adding measures to safeguard its clients’ assets under the leadership of John J. Ray III.

Singapore Police Investigates Binance For Disobeying Local Payment Service Rules

Binance is on the radar of the Singapore police for a possible breach of local payment services rules. The exchange has been accused of actively soliciting its Singapore users, regardless of not being licensed in the country.

Court Orders FTX To Reimburse Bahamas Regulators For Holding Its Assets

The Supreme Court of Bahamas ordered FTX to pay reimbursement fees to the Securities Commission of the Bahamas for holding the firm’s digital assets since November 11.

Chairman Of House Subcommittee Seeks Documents On FTX’s Collapse

The Chair of the Subcommittee on Economic and Consumer Policy has issued a letter to FTX’s former and current CEOs requesting more details on FTX’s collapse.

Bahamian Regulator Claims It Ordered Sam Bankman-Fried To Move FTX Assets To Government Wallets

The Securities Commission of the Bahamas (SCB) revealed that the agency instructed FTX to transfer assets to government wallets on November 12.

FBI Seeks To Extradite Sam Bankman-Fried For Questioning

The FBI is reportedly in talks with Bahamian authorities to extradite Sam Bankman-Fried to the US for interrogation on FTX's downfall.

Bahamas Supreme Court Authorizes Liquidators For FTX Assets

The Bahamian Supreme Court has approved two insolvency experts from Pricewaterhouse Coopers (PwC) to act as joint provisional liquidators overseeing FTX assets. The Commission continues its investigation and is ready to help the police if needed.

Bahamian Financial Regulator Freezes Certain FTX Assets

The Bahamas Securities Commission has frozen FTX Digital Markets’ assets following allegations against the crypto exchange. As a result, FDM directors cannot make any transaction without the Commission’s approval.

Aggrieved TerraUSD Investors Sue Do Kwon For $57 Million in Fresh Fraud Lawsuit

Do Kwon, and Terra’s founding member, Nicholas Platias, are currently facing a new $57 million lawsuit filed by 359 aggrieved investors in Singapore. This is an addition to the numerous legal battles he is facing.

Singapore Moves to Make Borrowing for Crypto Purchases Illegal

Singapore wants to ban retail investors from borrowing funds to trade cryptocurrency and generating returns from lending and staking. But it does not seek to prohibit crypto services outrightly.

UK Legislators Vote In Favor Of Regulating Crypto Assets As Financial Instruments

The House of Commons voted to recognize crypto assets as financial instruments. This will allow the authorities to regulate crypto assets under the Financial Services and Markets Bill.

SBF Prefers Censorship?

Sam Bankman Fried releases a controversial "industry guide" that reveals his stance on major issues in the crypto industry.

SEC Chairman Warns About Centralization In The Crypto Market

In his recent speech, Gary Gensler, the SEC Chairman, revealed his opinions on the increasing centralization in the crypto ecosystem.

Hong Kong Seeks To Legalize Crypto Trading

Hong Kong regulators aim to reconsider their stance on crypto by allowing retail investors to directly invest in crypto assets.

Japan To Ease Screening Process For Listing Virtual Tokens

Japanese regulators plan to ease regulations to allow registered crypto exchanges to list digital tokens without undergoing a long screening process.

EU’s Draft Law Urges Member Nations To Be Ready To Halt Crypto Mining

The European Union seeks to curb the energy consumed by mining operations with its latest draft law. 

SEC And CFTC Probe 3AC Over Allegations Of Investor Conduct Violations

SEC and CFTC investigate Three Arrows Capital (3AC) for potentially misleading its investors.

Texas Regulators To Investigate FTX And Sam Bankman-Fried

The Texas State Securities Board will launch probes into crypto exchange FTX and its founder, Sam Bankman-Fried, over violation of the Securities Law.

India To Develop Standard Operating Procedures For Crypto During G20 Presidency

According to the Finance Minister of India, the nation will focus on creating a regulatory framework for cryptocurrency during its G20 presidency next year.

CFTC’s Chairman Claims FTX’s Proposal Can Cause “Evolution” Of Financial Markets

CFTC's chairman voiced his opinions on FTX's proposal of eliminating the middleman in crypto derivative trading, and claimed it can potentially cause an evolution in the market structure.

EU's MiCA Crypto Law Receives Loud Support in Lawmakers' Committee Vote

Lawmakers in the European Union have voted in favor of the Markets in Crypto Assets Regulation Bill (MiCA). This moves the bill ensuring stricter rules for crypto companies one step closer to becoming law.

South Korean Authorities Order Do Kwon To Surrender His Passport

South Korean Foreign Affairs Ministry ordered Do Kwon and five other Terra staff to return their Korean passports. They might face a passport freeze and new passport denial if they fail to comply within two weeks.

EU Imposes Complete Sanction On Crypto Services To Russia

The EU imposed restrictions on all crypto-related services for Russia-based investors as part of its eighth round of sanctions against Russia.

EU Mandates Wallet Providers To Verify Users' Identities

The European Union signed the regulatory framework of MiCA, a bill that seeks to establish licensing requirements for crypto platforms.

Tennessee Court Renders Crypto Tax Dispute Moot

A Tennessee Court dismissed the complaint filed against the IRS by a pair of plaintiffs seeking refunds for the income tax on their Tezos tokens.

SEC Sues Another Crypto Project and Its "Market Maker" For Alleged Market Manipulation

Hydrogen Technology and Moonwalkers Trading have come under the SEC's hammer for selling tokens using airdrops and bounty programs while funding its project in 2018.

XRP Price Surges By 11% As Court Overrules SEC's Objections

XRP witnessed an uptrend in its pricing after Analisa Torres overruled the SEC's objections in its ongoing case against Ripple Labs.

State Regulators Object To Celsius' Plan Of Selling Stablecoin Holdings

The Texas and Vermont regulators raised concerns over Celsius' request to sell its $23M worth of stablecoin assets to generate liquidity for its operations.

Court Appoints Shoba Pillay To Examine Celsius’ Chapter 11 Bankruptcy Case

The U.S. Bankruptcy Court in the Southern District of New York has approved the appointment of a third-party examiner to look into Celsius’ finances.

Thai SEC Files Lawsuit Against Bitkub Over Wash Trading Allegations

Thailand’s SEC filed civil sanctions against Bitkub and sought fines worth $634K for artificially pumping asset volumes on the exchange.

South Korea Moves to Freeze Bitcoin Transferred from LFG Amid Search for Do Kwon

3313 BTC have been moved from Luna Foundation Guard (LFG) to Kucoin and OKX following the issuance of the arrest warrant for Do Kwon. The prosecutors requested both exchanges freeze the assets.

U.S. Regulators Sue Nexo For Failing To Register Yield Product

Regulators from eight states, including California, filed a lawsuit against Nexo for not registering its “Earn Interest Product,” citing that Nexo’s offerings need to be treated as securities. 

Chinese Authorities Arrest Criminal Group Suspected Of Laundering $5.6B

Authorities from China’s Hengyang County Public Security arrested members of a major criminal organization as part of the “Hundred-day Action” campaign.

Governor Gavin Newsom Vetoes California "BitLicense" Bill

Governor Gavin Newson vetoed a crypto licensing and regulation bill, citing forthcoming federal regulations and findings from ongoing research. This decision has also earned him praise in the community.

CFTC Sues bZeroX Over Illegal Trading Of Digital Assets

The Commodity Futures Trading Commission (CFTC) imposed a $250k penalty against bZeroX and its founders Tom Bean and Kyle Kistner over the platform’s illegal operations.

New UK Bill to Give Law Enforcement Agencies More Power on Crypto-Crime Clampdown

The UK has introduced a new bill to give enforcement agencies greater power to "seize, freeze, and recover" cryptocurrencies. The bill seeks to strengthen anti-money laundering measures and make the UK business-friendly.

Ethereum Coin Mixer Tornado Cash Is Finally Unbanned On GitHub

Tornado Cash is finally back up on GitHub after its ban by OFAC. While GitHub is yet to make an official statement, many Ethereum developers have lauded this move.

Court Orders Stablecoin Issuer Tether To Prove USDT Backing

US Judge has ordered Tether to provide financial records on the backing of USDT as part of a bitcoin inflation conspiracy case. The Judge also dismissed Tether’s motion to block the release as the information is vital.

Draft US Bill Seeks To Ban Algorithmic Stablecoins For 2 Years

The US House of Representatives drafted a bill that intends to place a temporary 2-year ban on algorithmic stablecoins such as TerraUSD.

Sparkster Settles with SEC, Agrees to Compensate Investors with $35 Million

The SEC filed charges against Sparkster Ltd, CEO Daya, and crypto influencer, Balina over an unregistered 2018 SPRK ICO. While Sparkster has agreed to pay a total of $35 million, Balina’s charges may take longer.

SEC Charges Ian Balina Over Promotion And Sale Of Unregistered ICO

The US Securities and Exchange Commission filed a complaint against crypto promoter Ian Balina over violations of the Federal Securities law.

FCA Warns Citizens Over FTX’s Lack of Authorization to Operate in the UK

UK’s FCA says crypto exchange FTX is not authorized to operate in the country. It warns citizens of the risks of investing in unregistered companies.

Ripple CEO Claims SEC Is Not Interested In Applying The Law

Ripple Labs Inc. filed the motion for a summary judgment earlier today, with Brad Garlinghouse slamming the SEC by claiming it is only concerned with expanding its jurisdiction beyond securities.

CZ Binance Supports Biden’s Regulatory Policy

In light of the new crypto regulations by the US Presidency, CZ Binance has shown his support for the policy. Zhao stated the new policy's positive effects would help drastically eliminate illicit activities.

SEC Sues Crypto Companies for Fund Mismanagement

The SEC has been going after bad crypto actors recently. In their recent action, they sued two crypto firms and their owner for using their investors’ funds in Ponzi-like schemes.

White House Releases Framework For the Development of Crypto Assets

The White House has issued a framework for developing and regulating digital assets in the US. This recommendation will address the risks and maximize the potential benefits of crypto assets and their technologies.

Ethereum’s New Staking Model May Draw SEC Attention

Ethereum’s transition to the staking model might draw the SEC’s attention. This is so because SEC expects crypto platforms offering staking services to take the Howey test to determine whether its asset is a security.

Chinese Court Authorizes Crypto Trading But Only as Virtual Assets

Beijing Court has permitted interested Chinese citizens to trade cryptocurrencies only as virtual currencies amidst China’s ban on crypto-related services.

Thai SEC Prohibits Crypto Operators From Providing Staking and Lending Services

Thai SEC has banned crypto operators from providing or advertising crypto depository services that pay returns to depositors. They claim this move will protect the public from the business risks of these services.

US Treasury Sanctions Iranian Hackers And Blacklists Their Bitcoin Addresses

US Treasury Department has blacklisted Bitcoin addresses belonging to Iranian hackers while sanctioning their owners. The hackers have been encrypting their victims' devices, forcing them to pay ransoms in Bitcoin.

South Korean Prosecutors Issue Arrest Warrant Against Terraform Labs CEO

Investigation teams from the Seoul Southern District Prosecutor's Office issued an arrest warrant against Do Kwon, co-founder, and CEO of Terraform Labs, over violation of the Capital Markets Act.

Uruguayan Authorities Submit A Bill To Grant Regulatory Powers To BCU

The Uruguayan Executive Branch introduced a bill that proposes changes to the Securities Market Law and seeks to establish the Central Bank of Uruguay (BCU) as a regulatory body for virtual assets.

Brazilian CVM Demands Changes In The Pending Crypto Bill

Brazil’s Securities and Exchange Commission (CVM) pressed for changes in the pending cryptocurrency bill to fix a loophole concerning the regulation of digital assets.