Regulation

Lawyers representing former FTX CEO Sam “SBF” Sam Bankman-Fried conducted their cross-examination of Nishad Singh, pressing the former engineering director on events leading to Alameda Research using funds from the crypto exchange. According to reports from the courtroom on Oct. 17, Singh admitted “there was a lot” he didn’t remember from June to July 2022

Nonfungible token (NFT) artist Ryder Ripps’ most recent attempt to dismiss the Bored Ape Yacht Club-related lawsuit against him appears to have fallen on skeptical ears. In an Oct. 17 hearing, three judges from the United States Court of Appeals for the Ninth District appeared largely unpersuaded by the arguments from the attorney representing Ripps

The administration of New York City Mayor Eric Adams released a plan for the adoption and regulation of artificial intelligence (AI) within the local government, along with a new integration into city applications.  On Oct. 16, the administration released an update saying it is developing a framework through which city agencies can “carefully” evaluate AI

The Reserve Bank of Australia (RBA) is open to using a central bank digital currency (CBDC) as the future of money, where state-issued digital money would represent a tokenized form of central bank reserves. In a speech titled “A Tokenised Future for the Australian Financial System,” Brad Jones, assistant governor (financial system) of the RBA, talked about

Australian crypto exchanges have praised plans from the Australian Treasury to regulate cryptocurrency exchanges under pre-existing financial services licensing measures. In an Oct. 16 consultation paper, the Treasury outlined a new suite of proposed regulations, that suggested regulating cryptocurrency exchanges under existing financial services rules as well as introducing a wealth of new guidelines for

The Australian federal government may soon require cryptocurrency exchanges to hold a financial services license issued by the local financial regulator, the Australian Securities and Investment Commission (ASIC).  In the newly-unveiled “Regulating digital asset platforms” consultation paper, released on Oct. 16, the Australian Treasury said that the new regulatory framework aims to address consumer harms

California Governor Gavin Newsom has approved a cryptocurrency bill that enforces stricter regulations on businesses conducting crypto operations set to begin in 18 months.  In a statement published on October 13, Newsom declared that the bill titled the ‘Digital Financial Assets Law,’ would make it mandatory for both individuals and firms to obtain a Department

Top Stories This Week Caroline Ellison wanted to step down but feared a bank run on FTX Caroline Ellison, former CEO of Alameda Research, testified for over 10 hours this week at Sam Bankman-Fried’s trial, offering deeper details on the events that anticipated the FTX debacle in November 2022. From Ellison’s testimony, jurors learned that

China has released draft security regulations for companies providing generative artificial intelligence (AI) services, encompassing restrictions on data sources used for AI model training. On Wednesday, Oct. 11, the proposed regulations were released by the National Information Security Standardization Committee, comprising representatives from the Cyberspace Administration of China (CAC), the Ministry of Industry and Information

Coinbase has doubled down on its push for a court order compelling the United States Securities and Exchange Commission (SEC) to act on the firm’s crypto rulemaking petition. Coinbase wants a mandamus issued within 30 days to compel the SEC to give an official answer on whether it will accept or deny the petition. The

Lawyers representing former FTX CEO Sam “SBF” Bankman-Fried are seeking to bring up certain information from the crypto exchange’s terms of service during witness testimonies. In an Oct. 12 filing in United States District Court for the Southern District of New York, SBF’s legal team said the motion was aimed at addressing “address certain evidentiary issues”

Our weekly roundup of news from East Asia curates the industry’s most important developments. SBF’s Chinese bribe scandal worsens According to October 11 testimony from Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, her colleague — disgraced FTX founder Sam Bankman-Fried — allegedly paid $150 million in bribes to Chinese government officials in 2021, higher

A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX.  The full-length recording, obtained by Cointelegraph, provides fresh insights into the palpable tension felt by Ellison and Alameda staff in the lead-up to FTX’s collapse.

James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not

United States District Judge Amy Berman Jackson of the District Court for the District of Columbia has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchange Binance ahead of a crucial hearing. Among the key orders, Jackson cleared an amicus brief

FTX’s sister hedge fund, Alameda Research, lost at least $190 million of its trading funds due to arguably avoidable scams, according to a former engineer at the firm. In an Oct. 12 post to X titled “The Hacks,” former Alameda Research engineer turned whistleblower Aditya Baradwaj claims that the firm’s “breathtaking” agility led to “major