Nishad Singh’s testimony was seemingly part of prosecutors’ strategy to establish Sam Bankman-Fried had been behind Alameda Research using FTX user funds. Nishad Singh, the former engineering director at now-defunct crypto exchange FTX, has reportedly said he “hopes for no jail time” as part of an agreement with prosecutors. According to reports from the criminal…
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The G20 finance ministers and central bank governors have adopted the roadmap on crypto assets proposed by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). “We call for swift and coordinated implementation of the G20 Roadmap,” the finance chiefs announced at their latest meeting. G20 Finance Chiefs’ Communique on Crypto Assets The…
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Ripple’s chief legal officer says the U.S. needs to ”stop elevating politics over sound policy.” Noting that countries and regions outside of the U.S., such as Singapore, the U.K., the EU, and Japan, welcome crypto businesses, he emphasized: “I think we need a rational regulatory framework.” Moreover, he stressed that certain regulatory agencies in the…
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The UK House of Commons Culture, Media, and Sport Committee has released a report warning soccer clubs against the use of fan tokens. In a 30-page report, the committee explored the intricacies and challenges presented by non-fungible tokens (NFTs) in both the arts and sports sectors…. Read More: UK Parliament Committee Cautions Against Soccer Clubs’ Fan…
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India’s central bank, the Reserve Bank of India (RBI), has initiated a pilot for a second use case of its wholesale central bank digital currency (CBDC), focusing on the call money market. The Indian central bank reportedly plans to expand its e-rupee testing to cover the entire wholesale segment, including asset tokenization and repo transactions.…
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Lawyers petitioned the court to allow them to question witnesses for the prosecution based on FTX’s terms of service, as well as preclude testimony from “lay fact witnesses.” 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.…
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Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.” The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.” Senators Want Crypto Tax Reporting Rule Implemented Swiftly Senators Elizabeth Warren, Angus King,…
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Coinbase’s chief legal officer has called on U.S. Congress to pass sensible crypto legislation following reports that Hamas has amassed millions in cryptocurrency amid the escalating Middle East conflict. “We need this industry flourishing in nations committed to the rule of law, not driven to places where human rights and public safety mean much less,”…
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The legal action followed reports staff at the CFTC had completed an investigation concluding Stephen Ehrlich violated U.S. derivatives regulations. The United States Commodity Futures Trading Commission (CFTC) and Federal Trade Commission (FTC) have filed parallel lawsuits against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. In an Oct. 12 announcement, the…
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