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Regulation

IMF Recommends 5-Point Crypto Regulation Scheme

As global influencers rubbed elbows at Davos, the IMF issued recommendations for crypto to global regulators. Depending on who you ask, crypto regulation could hurt the industry or open up vast new markets for normie investors. In a note published over the week, the International Monetary Fund wrote: “During times of stress, we’ve seen market failures of stablecoins, crypto-focused hedge funds, and crypto exchanges, which in turn raised serious concerns about market integrity...

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Lack of Regulations Will Trigger More Crypto Meltdowns, Predicts Kevin O’Leary

Kevin O’Leary – a popular Canadian investor and host of the TV show Shark Tank – believes the unregulated cryptocurrency environment will cause the collapse of other companies. However, he remains a proponent of the industry, admitting that he invested 5% of his wealth in bitcoin. Future Trouble Seems Inevitable In a recent interview for Kitco News, O’Leary forecasted that the FTX demise will certainly not be the last such event in the cryptocurrency space. He claimed some of...

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Crypto Exchanges Should be Supervised as Banks, Urges Japan’s Financial Regulator

Mamoru Yanase – Deputy Director-General of Japan’s Financial Services Agency (FSA) – urged global watchdogs to impose tougher regulations on the cryptocurrency industry. He believes digital asset exchanges should be treated the same way as banks. It’s All Because of FTX According to Yanase, one way to prevent another collapse of a cryptocurrency platform is if regulators treat such entities as traditional financial institutions. The Japanese referred to the demise of FTX,...

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Andy Yen Is in Favor of Crypto Regulation

Andy Yen is the CEO and co-founder of Proton, a privacy-centered organization that seeks to provide a whole new (autonomous) version of the Internet. Yen Wants to See Change in the Crypto Space In a recent interview, he gave his thoughts on bitcoin, crypto, and what traders can expect in terms of legislation and what the space will hold. In the past, Yen has gone on record about being a bitcoin and crypto supporter. Right now, bitcoin is only accepted as a form of...

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The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

The scale of the financial damage to crypto investors last year was colossal. Not just from FTX International going under but also the rest of them: Three Arrow Capital, Celsius, Genesis, Gemini, Voyager Digital, and BlockFi. The Bitcoin price still hasn’t recovered from the ongoing streak of crypto bankruptcies, although it deleted some of the losses from the FTX fiasco. Over crypto exchanges, BTC kept taking steep discounts all year. Every new bankruptcy headline plunged...

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SEC Chair Gensler Advises US Troops to Stay Away From Crypto

The Chairman of the United States Securities and Exchange Commission (SEC) – Gary Gensler – told members of the US Army to refrain from investing in cryptocurrencies.  He believes the sector lacks proper regulation and most digital assets will collapse in the future. Another Wave of Scepticism One of crypto’s keenest critics – Gary Gensler – launched another bashing manifest against the industry. In a recent Twitter Space, he pointed out that an increasing number of US...

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CryptoCom To Delist USDT in Canada Due To Regulatory Pressures

On January 9, Crypto.com announced the delisting of USDT —the most important stablecoin in the crypto ecosystem— in Canada to comply with the country’s regulations. Several users on Reddit and Twitter reported that Crypto.com sent an email informing Canadian users of the decision. Source: RedditCanadians Must Get Rid of Their USDT Before January 31 According to the statement, users will have until January 31 to withdraw or exchange USDT for any other currency. Failure to do...

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Opinion: Has the FTX Crash Exposed a Government Conspiracy?

FTX is likely to go down as one of the biggest embarrassments in the history of crypto. More than that, as additional layers get stripped away to reveal what happened, one can’t help but put a few pieces of the puzzle together and be horrified by the final image. Was the FTX Collapse Part of Something Bigger? This may sound like something of a conspiracy theory, yet when one really considers everything and puts multiple ideas in place, one can find a thread of common...

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Huobi Korea to Break Away from Huobi Global With Shares Buyback

On January 9, reports circulated that the cryptocurrency exchange Huobi Korea announced plans to sever its relationship with its parent company Huobi Global. According to the statement shared by News1, Huobi Korea will change its name to divorce itself from Huobi Global, as they have been facing a lot of problems due to domestic regulations. Huobi Global is a cryptocurrency exchange founded in 2013 by Du Jun and Leon Li, the company’s current CEO. At the time, Huobi was one...

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