Regulation

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. 12 filing in United States District Court for the Southern District of New York, SBF’s legal team said the motion was aimed at addressing “address certain evidentiary issues”

Our weekly roundup of news from East Asia curates the industry’s most important developments. SBF’s Chinese bribe scandal worsens According to October 11 testimony from Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, her colleague — disgraced FTX founder Sam Bankman-Fried — allegedly paid $150 million in bribes to Chinese government officials in 2021, higher

A commissioner for the United States Commodity Futures Trading Commission has slammed Voyager Digital for its mistakes that eventually led to the loss of billions of dollars in customer funds. Statement of @CFTCjohnson regarding @cftc‘s charges against Voyager’s chief executive officer. Learn more: https://t.co/OiBvOoCuV6 — CFTC (@CFTC) October 12, 2023 In an Oct. 12 statement,

China has released draft security regulations for companies providing generative artificial intelligence (AI) services, encompassing restrictions on data sources used for AI model training. On Wednesday, Oct. 11, the proposed regulations were released by the National Information Security Standardization Committee, comprising representatives from the Cyberspace Administration of China (CAC), the Ministry of Industry and Information

On Oct. 13, the Group of Twenty (G20) — an intergovernmental forum comprising 19 sovereign countries, the European Union and the African Union — unanimously adopted the “G20 Finance Ministers and Central Bank Governors Communique” during its meeting in Marrakesh, Morocco. G20 members accepted the crypto regulatory roadmap proposed in a joint report by the International

The United States government is considering additional measures to curb Chinese developers from gaining access to artificial intelligence (AI) semiconductor chips made in the U.S. via third parties.  According to a report from Reuters on Oct. 13, people close to the matter have said that the Biden administration is targeting a loophole that has allowed

On Oct. 12, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), part of the French Central Bank, published a summary of its public consultation on a regulatory framework for decentralized finance (DeFi). The public consultation lasted two months, from April to May 2023, in response to the initial paper discussing possible regulations for DeFi

The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts

A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX.  The full-length recording, obtained by Cointelegraph, provides fresh insights into the palpable tension felt by Ellison and Alameda staff in the lead-up to FTX’s collapse.

Do Kwon-founded Terraform Labs has again pointed the finger at market maker Citadel Securities for its role in an alleged “concerted, intentional effort” to cause the depeg of its stablecoin in 2022. On Oct. 10, Terraform Labs filed a motion in the United States District Court in the Southern District of Florida to compel Citadel

The former CEO of a Miami-based investment firm has pled guilty to a conspiracy to commit commodities fraud involving crypto futures contracts and now faces up to five years in prison.  In an Oct. 12 statement, the United States Department of Justice said that Peter Kambolin, the former CEO of Systematic Alpha Management (SAM) LLC,

Unauthorized artificial intelligence-powered recreations of people’s voices and images would be banned under a proposed bill by a bipartisan group of United States senators. In an Oct. 11 press release, Democratic Senators Chris Coons and Amy Klobuchar, along with Republican Senators Marsha Blackburn and Thom Tillis, released a discussion draft of the Nurture Originals, Foster

According to former Alameda Research CEO Caroline Ellison, a single tweet from Binance CEO Changpeng “CZ” Zhao contributed to the failure of cryptocurrency exchange FTX. Testifying in Sam “SBF” Bankman-Fried’s criminal trial on Oct. 12, Ellison reportedly placed part of the blame for the collapse of FTX on CZ’s social media activity. In the now

James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not

Lawyers representing United States supermarket chain Trader Joe’s have filed a complaint in California against decentralized exchange Trader Joe. In an Oct. 5 filing in U.S. District Court for the Central District of California, Trader Joe’s sued Trader Joe and its co-founder Cheng Chieh Liu over federal trademark infringement and dilution claims. According to the

China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY. The industrial park is located in the Luohu district of Shenzhen adjacent to

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 CFTC said it had filed a lawsuit in U.S. District Court for the Southern District of New York against Ehrlich

Evidence presented in court as a part of the ongoing criminal trial against Sam “SBF” Bankman-Fried, former CEO of crypto exchange FTX, reveals SBF believed Binance leaked an Alameda balance sheet to the media in 2022. On Oct. 11, Caroline Ellison, former CEO of Alameda Research, said SBF created a memo that dates back to

Anonymous hackers of the now-defunct exchange FTX have been moving large amounts of assets stolen from the platform, with new transactions occurring just as the ongoing trial of FTX founder Sam Bankman-Fried gets underway. As much as 72,500 Ether (ETH) of stolen assets from FTX has awakened for the first time since the exchange was hacked

United States District Judge Amy Berman Jackson of the District Court for the District of Columbia has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchange Binance ahead of a crucial hearing. Among the key orders, Jackson cleared an amicus brief