Silvergate and SVB bite the dust: Law Decoded, March 6–13.
Last week, another major quake shook crypto markets. Silvergate Bank — a crypto-fiat gateway network for financial institutions and a...
Regulation
U.S. authorities preparing ‘material action’ to curb SVB contagion
United States authorities are working on "material action" over the weekend in an attempt to limit the ripple effect across...
India Brings Crypto Transactions Under Prevention of Money Laundering Act – Regulation Bitcoin News
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA)....
Founders of Multimillion-Dollar Global Crypto Ponzi Scheme ‘Airbit Club’ Plead Guilty – Regulation Bitcoin News
The founders and promoters of multimillion-dollar cryptocurrency Ponzi scheme Airbit Club have pleaded guilty to various criminal charges. Airbit Club...
Hong Kong Residents Lost More Than $216 Million to Crypto Scams in 2022 – Regulation Bitcoin News
According to Hong Kong police, in 2022 there were 2,336 reported crypto scam-related cases in which more than $216.6 million...
Russian Crypto Industry Association Asks Putin to Help With Regulations – Regulation Bitcoin News
The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the...
SEC Files Emergency Action Against Bkcoin in $100 Million Crypto Fraud Scheme – Regulation Bitcoin News
The U.S. Securities and Exchange Commission (SEC) has filed an emergency action against Miami-based investment adviser Bkcoin and one of...
Ripple CEO Warns of Harm to Crypto Industry if SEC Wins Lawsuit Over XRP – Regulation Bitcoin News
The CEO of Ripple Labs has warned of the harm to the crypto industry if the U.S. Securities and Exchange...
Binance tried to hire Gary Gensler in 2018 for closer ties with U.S. regulators: Report
Update (March 5, 9:22 p.m. UTC): This article has been updated to include Binance's response. Crypto exchange Binance sought to hire...
Fears over Silvergate, $8B hole at FTX, senators seek Binance’s numbers: Hodler’s Digest, Feb. 26 – March 4
Delay in Silvergate’s financials sparks fears over bankruptcy, FTX reports $8.6B deficit and Binance’s balance sheet sought by U.S. senators....
US Senators Probe Crypto Exchange Binance About ‘Potentially Illegal Business Practices’ – Regulation Bitcoin News
Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and answers pertaining to “potentially illegal business...
UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report
United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They...
Puerto Rico Defines Act 60 Tax Exemptions for Blockchain Companies – Regulation Bitcoin News
The Economic and Commerce Development Department of Puerto Rico (DDEC) has issued a document in which it defines the rules...
G20 Finance Chiefs Widely Recognize Crypto Poses Major Financial Stability Risks, Says Indian Central Bank Governor – Regulation Bitcoin News
The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and...
Janet Yellen Says ‘Critical’ to Establish Strong Crypto Regulation — ‘We Haven’t Suggested Outright Banning’ – Regulation Bitcoin News
U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on...
India Asks IMF and FSB for Joint Paper to Help Formulate ‘Comprehensive’ Crypto Policy – Regulation Bitcoin News
India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto...
IMF Board Offers Guidance for Developing Effective Crypto Policies – Regulation Bitcoin News
The executive board of the International Monetary Fund (IMF) has provided guidance for member countries to develop effective crypto policies....
US Lawmaker Launches CBDC Anti-Surveillance State Act to Protect Americans’ Right to Financial Privacy – Regulation Bitcoin News
U.S. Congressman Tom Emmer has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act “to halt efforts of unelected...
New York Attorney General Sues Crypto Exchange Coinex — Claims Trading Platform Offers Unregistered Securities – Regulation Bitcoin News
New York Attorney General Letitia James has sued cryptocurrency exchange Coinex “for failing to register as a securities and commodities...
Regulators Let Bad Guys Get Big and Blow Up to Serve Their Agenda – Regulation Bitcoin News
The CEO of crypto exchange Kraken, Jesse Powell, says U.S. regulators “let the bad guys get big and blow up...
Proof of Stake Alliance publishes white papers on legal aspects of liquidity staking
The Proof of Stake Alliance (POSA), a nonprofit industry alliance, has published two white papers examining on the status of...
The fate of dollar-pegged stablecoins in question: Law Decoded, Feb. 13–20
New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange...
