Regulation

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...

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...

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...

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...

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...

The Gemini Exchange in New York – headed by the Winklevoss Twins – has halted all withdrawals, sparking rumors that the company could be next in a long line of crypto firms to file bankruptcy. Gemini Exchange Halts All Withdrawals The move is a direct result of the collapse of FTX, which came crashing down in mid-November. Michael Barr, an official with the Federal Reserve, is calling upon Congress to regulate crypto once and for all due to the company’s failure. In a...

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The state of Oregon has put out a notice to all its residents warning them that investing in crypto could be a costly mistake. Oregon to Investors: Avoid Crypto The warning stems from the Oregon Division of Financial Regulation (DFR) and comes fresh off the heels of the FTX collapse, which arguably sent ripples throughout the space and caused many analysts, traders, and industry heads alike to be stunned with surprise. Nobody expected what has been labeled the industry’s...

The FTX collapse is going to go down as one of the biggest flops to ever occur in crypto. The event has caused several politicians to enter the regulatory call factory, one of which is Joe Biden. Joe Biden Wants the Crypto Space Regulated Thinking he can somehow make a difference, Biden recently voiced support for newfound digital currency regulation to ensure that what happened with FTX never happens again. Biden initially sought to get the ball rolling on such a...

Treasury Secretary Janet Yellen – who despite being a renowned economist couldn’t predict that the U.S. was headed for its worst inflationary period in over 40 years – has stated that the fall of the FTX exchange is exactly why the country needs to focus on crypto regulation. Janet Yellen Discusses Crypto Regulation In a recent interview, Yellen mentioned: The recent failure of a major cryptocurrency exchange and the unfortunate impact that has resulted for holders and...