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Policy
U.S. Accounting Board Seeks Crypto Standards Requiring Firms to Report Price Shifts
The existing approach, accounting for crypto as so-called indefinite-lived intangible assets, only focuses on the assets dropping in value. According to the board’s proposal, it “does not reflect the underlying economics of those assets…
UAE Unveils CBDC Strategy, First Phase to Be Completed By Mid-2024
The first pillar is the soft launch of the ongoing project mBridge, a collaboration between the Bank for International Settlements (BIS) and the central banks of Hong Kong, the Chinese mainland, the United Arab Emirates and Thailand to…
Binance Users in China, Elsewhere, Evade KYC Controls With Help of 'Angels': CNBC
Some Binance employees and volunteers shared tips on forging bank documents, falsifying addresses or hiding the country of origin to get a Binance debit card, CNBC reported, citing Chinese-language chatroom messages it translated.…
Is This Finally an Atomic Bomb From the SEC?
The U.S. Securities and Exchange Commission’s notice to Coinbase (COIN) that it’s likely to be accused of breaking securities laws could foreshadow an agency effort to break the back of the crypto sector as it now operates, but it also…
Do Kwon Now Faces Criminal Fraud Charges From U.S. Prosecutors
Federal prosecutors in New York charged Terraform Labs founder Do Kwon with fraud hours after he was arrested by police in Montenegro.
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Crypto Advocate Sees ‘Silver Lining’ for the Industry in SEC’s Warning to Coinbase
“The silver lining, to the extent there is one of this type of development, is that it will force the establishment of case law that will inform how crypto is regulated and it will set some rules of the road for crypto to comply with,”…
Crypto Isn’t the Reason Why Signature Bank Was Closed
Nonetheless, the timing by regulators is significant, Vullo said. By quickly dealing with SVB and Signature, bank regulators were able to “send a very strong message to the public that the system is OK and that we're going to take care…
Genesis Requests Timetable for Sale, Creditor Claims
The company wants to sell off its business after filing for bankruptcy on Jan. 19.
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FDIC Denies Report Signature Bank Purchaser Must Divest Crypto
The acquirer will tell the FDIC “what assets and liabilities from the failed bank it is willing to take,” the spokesperson said, citing the agency’s resolution handbook. The spokesperson also referred CoinDesk to two joint statements…
Is Ether a Security?
Last Thursday morning, I wondered whether I needed to write a follow-up piece about Silvergate Bank. On Thursday evening, I wondered whether my main topic should instead be about ether potentially being a security. And then, obviously,…
