Topic: Cryptocurrency

FTX failure bolsters “same risk, same regulation” argument, UK regulator says

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while giving details on the central bank’s plans for a systemic payment systems regulatory regime and a digital pound.

22 November 2022

New FTX chief describes litany of control failures

New information from FTX’s chapter 11 petition have shown how unseriously the management of the world’s second-largest crypto exchange took basic controls, after its former CEO revealed his true feelings towards regulators in a late-night interview.

21 November 2022

Revolving door pays off as Binance gains ADGM custody licence

The world’s largest crypto exchange has obtained its third licence in the Gulf region, after a distressing few weeks for the digital assets space following the implosion of its major rival FTX.

17 November 2022

Regulators brace for FTX fallout

The fall of FTX – the world’s second-biggest crypto exchange and the second major crypto collapse of 2022 – will “embolden” supporters of a more restrictive crypto regulatory regime, practitioners say, while the US Commodity Futures Trading Commission has come in for criticism over its supervision of the company.

15 November 2022

FMLC champions common law to develop “third category of property” for digital assets

The Financial Markets Law Committee, an influential City body, has urged the Law Commission to go the common law route to create a “third category of property” to cover digital assets, rather than relying on a statutory creation.

10 November 2022

MAS releases first report on potential purpose-bound CBDC

Singapore’s financial regulator has weighed in against the potential use case for a purpose-bound digital Singapore dollar.

10 November 2022

Hong Kong Fintech Week sheds light on virtual asset ETFs and CBDCs

Hong Kong’s government used its first in-person Fintech Week since the pandemic to issue a policy declaration on the development of virtual assets, as other leading lights in the city’s bank regulatory scene spoke out about the future of crypto asset regulation, including a review of the SFC’s “professional investor only” requirement.

09 November 2022

Singapore’s proposed crypto measures evoke mixed reactions

The Monetary Authority of Singapore (MAS) has proposed measures to regulate crypto trading to protect consumers from stablecoin-related risks.

01 November 2022

“The heart of the regulatory system needs to be independent”: Regulators address plans for government “call-in” power

Undermining the operational independence of financial regulators could have adverse implications for “international standing” and “competitiveness”, warned Victoria Saporta, the UK’s Prudential Regulation Authority’s executive director of prudential policy, in an appearance before MPs as they consider the Financial Services and Markets Bill.

24 October 2022

“Sovereign, but within the context of a global industry”: former City minister opens GBRR Live London

Opening the first-ever “GBRR Live,” former City minister and architect of the Financial Services and Markets Bill John Glen MP spoke about how he had sought to balance “alignment with global norms” with an independent approach to regulation. Emma Siponmaa reports from London.

20 October 2022

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