The US Securities and Exchange Commission (SEC) has launched an investigation into the conduct of Terraform Labs and its algorithmic Stablecoin Terra Classic UST (USTC), according to a Bloomberg report on Thursday. UST lost its dollar peg in early May, which triggered a market-wide meltdown leading to the collapse of Luna Classic (LUNC). Both USTC […]
Binance has come under regulatory scrutiny again, this time with the SEC. The United States Securities and Exchange Commission (SEC) recently launched an investigation on the behemoth cryptocurrency exchange to ascertain whether it violated securities laws with its BNB token initial coin offering (ICO) five years ago. The latest regulatory report was published by Bloomberg […]
The US Federal Trade Commission (FTC) recently revealed that over 46,000 people fell victim to numerous cryptocurrency scams since the beginning of 2021, resulting in the loss of over $1 billion to bad actors. This was according to the FTC “Data Spotlight” publication on Friday. According to its website, the FTC is the only federal […]
Giant cryptocurrency exchange Gemini has attracted a lawsuit from the Commodity Futures Trading Commission (CFTC) for allegedly providing false data when applying for approval for a Bitcoin futures product with the agency in 2017. The CFTC filed a complaint with a New York court, noting that Gemini Trust Company, LLC (Gemini) provided “false or misleading […]
In a recent interview with CNBC, Securities and Exchange Commission (SEC) Commissioner Hester Peirce noted that the US has “dropped the ball” on cryptocurrency regulation. The Commissioner is known for her support of the industry, which has earned her the nickname “crypto mom.” Peirce talked about the regulatory challenges in the crypto industry in the […]
Speaking at an interview with CNBC, Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, clarified the regulatory jurisdictions of the CFTC and the Securities and Exchange Commission (SEC). Behnam was quizzed about a bill in Congress that limited the regulatory jurisdiction of the SEC to security tokens and the CFTC to commodity tokens. […]
President of Panama Laurentino Cortizo has asserted that the recently approved cryptocurrency bill might be ineffective in curbing illegal crypto activities like money laundering. The President of the Central American nation made the comments at the Bloomberg New Economy Gateway Latin America conference in Panama City, where he noted: “If I’m going to answer you […]
As crypto adoption continues to grow globally, the Reserve Bank of India (RBI) has warned that cryptocurrencies have the potential to dollarize sections of the Indian economy, according to a report from PTI on Monday. The report detailed that top RBI officials, including Governor Shaktikanta Das, “clearly expressed their apprehensions about cryptocurrencies” at a briefing […]
Recent reports show that the Treasury Department of the UK, HM Treasury, will see through its plans to regulate payment Stablecoins undeterred by the recent market crash. The revelation came after Terra suffered a breakdown, which triggered a death spiral for its algorithmic Stablecoin UST and its native token LUNA. At press time, UST trades […]
