REGULATION
Cryptocurrencies are not issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market.
Prime Minister of Japan Fumio Kishida Comes Out in Support
On Feb. 1, Prime Minister Fumio Kishida addressed the House Budget Committee on DAOs, NFTs, and Web3.
Randall Crater, Founder of "My Big Coin" Sentenced
A U.S. Federal Court Judge sentenced Randall Crater to 100 months in prison. Crater defrauded 55 investors with $7.6 million.
BankProv Stops Offering Loans Secured by Crypto Mining Rigs
BankProv said in an SEC filing that it would no longer lend against crypto mining machines.
Hopes Dashed for India's Crypto Community
The Indian crypto community was upset that the budget did not address crypto, hoping for a 30% tax decrease.
U.K. Treasury Proposes Ambitious Crypto Regulations
The UK Treasury labelled algorithmic stablecoins "unbacked crypto assets" rather than banning them.
Tether Denies Receiving Any Loans From Celsius
Tether's chief technical officer Paolo Ardoino denied borrowing from Celsius in response to Celsius' examiner report.
FTX and Affected Parties Request Subpoenas for Information from close relatives
FTX subpoenas Sam Bankman-Fried and colleagues for bankruptcy proceedings.
Former FTX CEO ordered not to contact current or former employees
Sam Bankman-Fried cannot contact FTX or Alameda personnel or utilise Signal as part of his bail terms.
Kazakhstan Seeks to Improve Cryptocurrency Trading Framework
DATF framework supports "AFSA's Strategy for 2022," which includes crypto framework development as one of three regulatory goals.
HKMA Stablecoin Regulations to Demand Backing by Underlying Assets
The main financial regulator will require stablecoin issuers to always back their values with reserve assets.
SEC Loses Appeal in LBRY Vs. SEC
The crypto community hailed the LBRY ruling that LBC tokens sold on the secondary market are not securities.
Yuga Labs Facing More Lawsuits Over NFTs
Rosen, a global legal firm, has encouraged BAYC and APE investors to join a class action lawsuit against Yuga Labs for securities law violations.
US senators write to Silvergate Capital for answers on FTX collapse
Senators Elizabeth Warren, Roger Marshall, and John Kennedy stated Silvergate had not adequately addressed its improper management of FTX customer cash.
The Philippines SEC seeks to bring cryptocurrencies under its scope
The Philippines Securities and Exchange Commission (SEC) has suggested new cryptocurrency regulations to improve its control.
USDC issuer Circle releases accountant-verified report
Circle's newest reserve report shows $44.5 billion USDC stablecoin assets.
