JPMorgan Chase CEO Jamie Dimon says crypto tokens are like pet rocks. The executive also believes crypto regulation should be strengthened, stating: “The regulators who beat up on banks should maybe focus a little more on crypto.” JPMorgan Chase’s Jamie Dimon Compares Crypto to Pet Rocks The chairman and CEO of global investment bank JPMorgan … Read more
Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) to attend a congressional hearing on the collapse of his cryptocurrency exchange. Bankman-Fried says he will testify when he has finished “learning and reviewing what happened.” Bankman-Fried Responds to Rep. Waters’ Invitation The U.S. House … Read more
Congresswoman Maxine Waters has been heavily criticized for saying that she appreciates former FTX CEO Sam Bankman-Fried (SBF) being candid in his discussions about the collapse of his crypto exchange, FTX. “SBF has not, in fact, been candid in his discussions. He committed fraud, full stop,” one critic stressed. Maxine Waters Slammed for Appreciating Sam … Read more
Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.” Congressmen Say Any US CBDC Must Be Open, Permissionless, and Private U.S. Congressman Tom Emmer (R-MN) announced Thursday that he has … Read more
According to the South African government, crypto entities — or businesses whose activities include the exchange or transfer of crypto assets — are set to be included in the list of so-called accountable institutions starting Dec. 19. Businesses that convert one crypto asset to another or that conduct transactions where a crypto asset is transferred … Read more
U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.” Treasury Secretary Janet Yellen on FTX Implosion and the Need for … Read more
The U.S. Securities and Exchange Commission (SEC) has revealed some initiatives involving crypto assets in its Strategic Plan for the fiscal years 2022-2026. The initiatives are intended to address the SEC’s top priorities over the next four years. SEC’s Strategic Plan for FY 2022-26 The U.S. Securities and Exchange Commission (SEC) published its “Strategic Plan” … Read more
State securities regulators are reportedly investigating Genesis Global Capital in a broad range probe into the “interconnectedness of crypto firms,” Barron’s reported on Friday. The report notes that the Alabama Securities Commission is looking into whether or not cryptocurrency firms have violated securities laws without filing the proper registrations. Report Says Financial Regulators Are Investigating … Read more
The Monetary Authority of Singapore (MAS), the regulator overseeing the crypto sector, has defended the action it took against crypto exchange Binance and not the collapsed crypto platform FTX. The central bank also warned that cryptocurrencies are “highly volatile and many of them have lost all value.” Singapore’s Central Bank Clarifies Its Stance on Binance … Read more
New York Attorney General Letitia James has urged Congress to pass a law prohibiting crypto investments in retirement accounts. “Hardworking Americans should not have to worry about their retirement savings being wiped out due to risky bets on unstable assets like cryptocurrencies,” she stressed. NYAG Letitia James Urges Congress to Prohibit Crypto Investments in Retirement … Read more
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