Circle, the US-based company behind the stablecoin USDC, has appointed Heath Tarbert, the former Commodity Futures Trading Commission (CFTC) chair, as its new Chief Legal Officer. Tarbert will officially join Circle in July, and his role will involve building a bridge between traditional finance (TradFi) and web3. Pushing for Regulatory Clarity Circle aims to push
Blockchain
In a landmark ruling, a US district judge has favored the US Commodity Futures Trading Commission (CFTC) in its litigation against Ooki DAO for running an illegal trading platform and failing to comply with the Bank Secrecy Act. The CFTC charged Ooki DAO in late 2022 with operating an illegal trading platform, registration violations and
According to a new filing made by the Securities and Exchange Commission (SEC), Binance’s US branch, Binance.US, lost as much as $181 million in 2022, despite receiving $132 million from its parent company BAM Management. The auditor hired by Binance.US, FGMK, attributed the loss to challenging market conditions in the crypto industry. The news of
According to Bloomberg News, Cathie Wood’s Ark Investment Management LLC has increased its stake in Coinbase after the US Securities and Exchange Commission (SEC) accused the exchange of operating unlawfully. The Ark Innovation ETF and two other funds bought 419,324 shares of Coinbase on Tuesday. Ark Invest has been bullish on Coinbase, purchasing an additional
Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has criticized the cryptocurrency industry for its lack of compliance. Speaking at the Piper Sandler Global Exchange & Fintech Conference on Thursday, Gensler argued that crypto exchanges can register with the agency, despite platforms’ claims that they have tried to do so. He stated
Luxembourg, a small country in Western Europe, has initiated a market study on Web3 and blockchain-based firms. The study aims to explore the relationship between blockchain-based products and services and existing digital companies (Web2 firms). The regulator, Autorité de la Concurrence, recognizes the potential of blockchain technology in the future economy and wants to ensure
According to the Brazilian media outlet Livecoins, the adoption of crypto credit cards is on the rise in Brazil. It has been reported that more Latin Americans than ever before are buying and spending tokens, with Brazilians using coins to pay in stores instead of fiat. Binance’s Brazilian head, Guilherme Nazar, stated that cards such
US Bankruptcy Judge Sean Lane has ruled that FTX will not be allowed to participate in the mediation between Genesis Global, a now-bankrupt crypto lender, and its parent company, Digital Currency Group (DCG), owned by Barry Silbert. Genesis and its major creditors, along with DCG, aim to create a revised payout proposal that will serve
Rostin Behnam, Chair of the US Commodity Futures Trading Commission (CFTC), has refuted claims that his agency would be a “light touch regulator” for cryptocurrency. Speaking at a House Agriculture Committee hearing, Behnam was asked about opinions that the CFTC is seen as taking a lighter touch when it comes to regulating the crypto industry.
The House Agriculture Committee met on Tuesday to discuss legislation concerning the regulation of cryptocurrencies. The hearing will provide clarity for digital asset spot markets and will hear from a range of individuals, including the Chair of the US Commodity Futures Trading Commission, Rostin Behnam, Coinbase’s Chief Legal Officer, Paul Grewal, and former CFTC Chair