The White House has released the framework for cryptocurrency regulation based on the earlier executive order from President Biden. The framework — a combined effort of several federal agencies — offers several recommendations on regulating cryptocurrency, cracking down on crypto fraud, and bringing the financial services industry up to standard. CNBC reported that a statement…
The White House has proposed that the crypto mining industry have some standards to mitigate its environmental effects. In a report titled Climate and Energy Implications of Crypto-assets in the United States, the White House called for standards like miners using clean energy and the need for low energy intensities. The report is a result…
Voyager Digital creditors have opposed its move to pay employees “retention awards,” according to an August 19 court filing. Bonuses worth $1.9M Voyager had asked the bankruptcy court to approve a $1.9 million “Key Employee Retention Plan” (KERP) in an August 2 filing. The bankrupt lender wanted to pay 38 employees bonuses because they were…
South Korea’s Financial Services Commission (FSC) reported 16 foreign crypto exchanges to investigative agencies for violating the Specific Financial Information Act, news1 reported on August 18. According to the report, the law prevents unregistered crypto exchanges from operating without a license, but the 16 firms have been providing crypto services for Koreans and hosting events…
Popular email service provider Mailchimp has suspended several crypto-focused media outlets and firms using its platform, including Decrypt and Messari. Reports of the account suspensions by Mailchimp started earlier this week with custody crypto wallet Edge. When the platform’s community manager Joelly Garcia tried to log in to their Mailchimp account, he discovered it had…
US regulators are considering asking hedge funds to disclose their crypto exposure, The Wall Street Journal reported on Aug. 10. The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) would likely issue a joint proposal asking large hedge funds to use Form PF to report their crypto investments. The form would give…
Voyager’s CEO Stephen Ehrlich made over $30 million when he sold the company shares when it was trading at its peak in 2021, CNBC reported Aug. 3. According to CNBC’s report, Ehrlich sold 1.9 million shares between Feb. 9, 2021, and March 31, 2021, in eleven transactions. The transactions were worth $31 million. It is…
New York’s Attorney General Letitia James has urged victims of the recent crypto market crash to contact her office. The investor alert asked those who believe they have been deceived or locked out of their accounts by various crypto projects impacted by the recent market crash to contact the NYAG Investor Protection Bureau. James also…
Crypto thieves from North Korea are impersonating experts using fake resumes and identities, Bloomberg News reported Aug. 1. According to Bloomberg, interviews with cybersecurity experts showed that these fraudsters actively plagiarize information from legitimate profiles to apply for jobs on Indeed and LinkedIn. North Korean thieves targeting crypto jobs Cybersecurity company Mandiant reported that a…
The South Korean government on July 21 reportedly postponed the implementation of its 20% crypto tax to 2025, according to South Korean news outlet hankyung. Crypto tax delayed According to the report, the government cited the lack of a proper investor protection system alongside the current unfavorable market condition as why it decided to defer…