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Policy

Prosecutors Praise Nishad Singh's Cooperation in FTX Investigation, Citing 'Significant Help'

In a recent court submission, government lawyers have requested that the judge consider Nishad Singh's 'substantial assistance' and 'exemplary cooperation' in the investigation into FTX. According to the document, Singh approached his cooperation with genuine remorse and a strong desire to help. He assisted the government in understanding how FTX's code allowed for the misuse of customer funds an…

Oct. 24, 2024, 9:28 a.m.

Policy

Ripple CEO Reveals Citibank Terminated His Account Due to Crypto Involvement

During a recent appearance at DC Fintech Week, Ripple CEO Brad Garlinghouse disclosed that he had been severed from a long-standing banking relationship with Citibank due to his prominent role in the crypto industry. Garlinghouse stated that he was given a five-day notice to transfer his funds, with the bank citing increased scrutiny from federal regulators as the reason for their decision. He cr…

Oct. 23, 2024, 9:37 p.m.

Policy

Partisia Blockchain: A Unique Solution to the Data Privacy Conundrum

According to Adrienne Youngman, CEO of the Partisia Blockchain Foundation, the platform's unparalleled depth of experience and provenance make it uniquely positioned to tackle the issue of data privacy in public blockchains. For years, public blockchains have been vulnerable to privacy breaches, causing institutions to hesitate in adopting the technology to solve real-world problems due to the ex…

Oct. 23, 2024, 10:02 a.m.

Policy

Don Wilson: Unfazed by SEC's Gary Gensler, Trader Who Outsmarted Regulator Before

Don Wilson is experiencing a sense of déjà vu. This month, the US Securities and Exchange Commission sued Cumberland DRW, a division of DRW, the Chicago-based trading giant Wilson founded and runs, for trading at least $2 billion in cryptocurrencies without permission. The case hinges on the SEC deeming those assets securities. Wilson recalls a similar situation in 2013 when Gary Gensler, then le…

Oct. 23, 2024, 10 a.m.

Policy

Tether CEO Expects US to Catch Up in Crypto Regulation

Tether CEO Paolo Ardoino expressed his confidence that the US will soon introduce sensible crypto regulations, which will have a positive impact on the industry. Speaking at DC Fintech Week in Washington via video link, Ardoino stated that the US has a crucial role to play in shaping crypto regulations, particularly for stablecoins. He believes that these regulations will not only protect end-use…

Oct. 22, 2024, 6:23 p.m.

Policy

FSB and BIS Warn of Potential Risks in Tokenization to the Financial System

The Financial Stability Board and the Bank for International Settlements have expressed concerns over the potential risks associated with tokenization, emphasizing the need for increased regulation. Tokenization, which involves the digital representation of real-world assets using distributed ledger technology, has been highlighted as a priority area for monitoring. The FSB has pinpointed three p…

Oct. 22, 2024, 3:36 p.m.

Policy

Indonesia Pushes Back Crypto License Deadline Following Latest Regulatory Revisions

The deadline for cryptocurrency exchanges to comply with the necessary licensing requirements and become authorized Physical Crypto Asset Traders has been extended by Indonesia's Commodity Futures Trading Regulatory Agency, Bappebti, to the end of November. This move follows regulatory updates announced on October 18, which mandate that exchanges form alliances with local government entities and …

Oct. 22, 2024, 5:42 a.m.

Policy

Ripple Co-Founder Chris Larsen Bolsters Kamala Harris' Election Bid With Significant XRP Donation

Chris Larsen, co-founder and Executive Chairman of Ripple, has pledged an additional $10 million in XRP to support Vice President Kamala Harris in her upcoming election, as she faces off against former President Donald Trump. This donation is part of Larsen's effort to promote Harris as the Democratic candidate. In a recent posting, Larsen expressed his support for Harris, stating that it is time…

Oct. 21, 2024, 7:59 p.m.

Policy

Sui Introduces Dubai-Based Incubation Hub for Rapid Solution Development

In a significant move, the Sui blockchain has established a presence in Dubai with the launch of an incubation hub designed to support blockchain developers and entrepreneurs. This initiative is spearheaded by Kostas Chalkias, co-founder and chief cryptographer at Mysten Labs, the developer of the Sui network. Originally from Greece and having relocated from California to Dubai, Chalkias envision…

Oct. 21, 2024, 11:19 a.m.

Policy

Uncovering Fake Trading Volumes with a Decoy Token

The US Department of Justice has announced charges against multiple individuals and entities for allegedly engaging in wash trading and defrauding investors. Among those named was a company familiar to long-time CoinDesk readers. The indictment revealed that the accused parties used fake trading volumes to deceive investors and manipulate the market. One of the key players, Alexey Andryunin, had …

Oct. 18, 2024, 11:30 p.m.