MIT Technology Review: “Last month’s sudden implosion of the popular cryptocurrency exchange FTX has intensified a political war for the soul of crypto that was already raging. In the coming year, we are likely to see that fight come to a head in US courtrooms and in Congress. The future of finance hangs in the… Continue Reading
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Category Archives: Cryptocurrency
The Stable in Stable Coins
Federal Reserve Borad, December 16, 2022 – The stable in stablecoins – Garth Baughman, Francesca Carapella, Jacob Gerszten, and David Mills: “Stablecoins have garnered much attention as a key part of the emerging decentralized finance (or “DeFi”) ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges,… Continue Reading
Pete Recommends – Weekly highlights on cyber security issues, December 17, 2022
Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, December 17, 2022 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly… Continue Reading
New York financial regulator issues cryptocurrency guidance for banks
“Today, New York Department of Financial Services (DFS) Superintendent Adrienne A. Harris released Guidance to banking organizations that wish to engage in virtual currency-related activities. The Guidance is applicable to all New York regulated banking organizations, as well as branches and agencies of foreign banking organizations licensed by the Department (“Covered Institutions”). Covered Institutions are… Continue Reading
What Happened at FTX and What Does It Mean for Crypto?
CRS Insight – What Happened at FTX and What Does It Mean for Crypto? – Updated November 29, 2022: “On Friday, November 11, FTX Trading Ltd. (FTX)—one of the world’s largest and most well-known cryptocurrency exchanges—announced that it had “commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code” in Delaware. Included in… Continue Reading
CFPB Publishes New Bulletin Analyzing Rise in Crypto-Asset Complaints
“Today, the Consumer Financial Protection Bureau (CFPB) released a new complaint bulletin that highlights complaints the CFPB received related to crypto-assets. Consumers most commonly reported being victimized by frauds, theft, account hacks, and scams. Consumers also had issues with executing transactions and transferring assets between exchanges. Many consumers had issues with accessing funds in their… Continue Reading
DOJ and SEC Investigating FTX Collapse as Entire Crypto Market Plunges
Gizmodo: “The Department of Justice and Securities and Exchange Commission are investigating FTX, a crypto platform that halted withdrawals on Tuesday, according to a new report from the Wall Street Journal. And while the SEC’s investigation has reportedly been going “for months,” the agency’s scrutiny has only expanded this week following the liquidity crisis at… Continue Reading
The Crypto Story
Bloomberg BusinessWeek: Where it came from, what it all means, and why it still matters. “There was a moment not so long ago when I thought, “What if I’ve had this crypto thing all wrong?” I’m a doubting normie who, if I’m being honest, hasn’t always understood this alternate universe that’s been percolating and expanding… Continue Reading
A new definition of crypto comes from the IRS
Coin Telegraph: “…No matter how much attention the United States Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission gets in the crypto industry, for individual traders and investors, it often comes down to the Internal Revenue Service’s (IRS) position — and how much tax one owes. Last week, the IRS last week released… Continue Reading
Pete Recommends – Weekly highlights on cybersecurity issues – October 15, 2022
Via LLRX – Pete Recommends – Weekly highlights on cybersecurity issues – October 15, 2022 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the increasingly… Continue Reading
Hackers have stolen record $3 billion in cryptocurrency this year
CBSNews: “Hackers have stolen more than $3 billion in cryptocurrency so far this year, shattering the previous record of $2.1 billion set in 2021, according to blockchain analytics firm Chainalysis. A big chunk of that $3 billion, around $718 million, was taken this month in 11 different hacks, Chainalysis said in a series of tweets… Continue Reading
Financial Stability Oversight Council Releases Report on Digital Asset Financial Stability Risks and Regulation
“The Financial Stability Oversight Council (Council) today released its Report on Digital Asset Financial Stability Risks and Regulation. The Council voted to approve the report in response to Section 6 of President Biden’s Executive Order 14067, “Ensuring Responsible Development of Digital Assets.As called for by the Executive Order, the report reviews financial stability risks and… Continue Reading
