Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between…
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The “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets” hearing will come two months after senators met to discuss the collapse of FTX. United States lawmakers with the Senate Banking Committee have scheduled a second hearing exploring the impact of a crypto market crash. In a Feb. 3 announcement, Senate Banking Committee…
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Following a request from FTX lawyers to subpoena FTX co-founder Sam Bankman-Fried (SBF) and members of his family, the U.S. Trustee appointed by the Department of Justice has filed an opposition to the request. The U.S. Trustee explained that the motion would duplicate the efforts of the federally appointed independent examiner. U.S. Trustee Argues for…
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Senator Tim Scott, who became the committee ranking member following the departure of Pat Toomey, reportedly plans to make a crypto regulatory framework a priority in 2023. Senator Tim Scott, the Republican ranking member on the United States Senate Banking Committee, reportedly plans to develop “a bipartisan regulatory framework” for cryptocurrencies. According to a Feb.…
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On Wednesday, 60 organizations involved in cryptocurrencies, open-source and free software, and human rights and privacy-preserving projects launched a new campaign calling on the 118th U.S. Congress to protect privacy. The groups, including Fight for the Future, Electric Coin Co., and the Tor Project, insist that Congress needs to deliver policies dedicated to standing up…
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The White House has published a roadmap asking authorities to increase enforcement and ramp up efforts to regulate the crypto sector. In an official blog on Friday, the Biden Administration detailed its plans to address potential risks from cryptocurrencies in a roadmap that calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up…
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The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized. US Lawmaker Shares Priorities on Crypto…
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The Biden administration touted its comprehensive framework and encouraged regulators and Congress to tighten the screws on crypto in a new statement. The White House released a statement on Jan. 27 that provided United States President Joe Biden’s administration a roadmap for mitigating risks associated with cryptocurrencies. The administration’s legislative guidance addressed much of the…
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According to court documents in the FTX bankruptcy case, the company’s attorneys seek to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, and his parents, Joseph Bankman and Barbara Fried. Additionally, the attorneys intend to question some of Bankman-Fried’s top deputies, including FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief…
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A newly introduced resolution could potentially see lawmakers buying sodas and chips using crypto-supporting vending machines. Texas Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on — food. Cruz introduced a concurrent resolution dated Jan. 25 that would only allow…
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