Cointime

Download App
iOS & Android

policy

ALL From policy

US Seizes Domains Used in 'Pig Butchering' Crypto Scam

U.S. authorities have seized seven domains used in “pig butchering” cryptocurrency schemes. “Once the money is sent to the fake investment app, the scammer vanishes, taking all the money with them, often resulting in significant losses for the victim,” the Department of Justice warned. (Bitcoin.com)

US Senators Call for Holding FTX Executives Accountable to Fullest Extent of the Law

U.S. Senators Elizabeth Warren (D-Mass.) and Sheldon Whitehouse (D-R.I.) wrote to the U.S. Justice Department on Nov. 23 to call for holding former FTX CEO Sam-Bankman Fried “and any complicit FTX executives” to the fullest extent of the law. The senators added FTX’s collapse was not a result of sloppy business practices but appears to have been caused by intentional and fraudulent tactics employed by SBF and other executives to enrich themselves. (forkast)

Consensys Updated its Privacy Policy

Consensys, the company that owns MetaMask, just updated its Privacy Policy to state that they are collecting users' IP addresses and ETH ADDRESS when users send a transaction. When users use Infura as their default RPC provider in MetaMask, Infura will collect their IP address and their Ethereum wallet address when they send a transaction.

Japan Kicks Off Central Bank Digital Currency Experiment

Japan’s central bank has started planning a central bank digital currency (CBDC) experiment with the country’s major financial players, according to a major newspaper report today. The Bank of Japan is working with three megabanks as well as regional banks in the Asian nation—and next year will trial a digital yen, Nikkei reported Wednesday. If all goes according to plan, the newspaper added, the BOJ may go ahead and release a CBDC in 2026. (Decrypt)

Bitcoin, Ethereum and Dogecoin Jump on Release of Fed Minutes

Bitcoin jumped slightly on the release of the Federal Reserve’s minutes from its November meeting, the captured discussion suggesting that the central bank may make smaller interest rate increases going forward. The stock market similarly ticked up as traders digested the news. Trader Ryan Scott told&nbsp;<i>Decrypt</i>&nbsp;the uptick was expected.&nbsp;“It seems like this is in line with market expectations. Short term traders aggressively positioned behind the release driving both crypto and equity index futures briefly,” he said.&nbsp;&nbsp;(Decrypt)

Ripple CTO Says One Important Lesson From FTX Meltdown 'Will Not Be Learned'

A Ripple executive says there is one important lesson from the meltdown of crypto exchange FTX that he “can say with total confidence will not be learned.” The executive added: “Regulation that punishes after the fact won’t catch it. Investor due diligence won’t either.” (Bitcoin.com)

South Korea To Change Its Legal Framework To Better Control Crypto Projects

According to local media outlet News 1, Chang-Hyun is proposing to grant more authority to the country’s Financial Services Commission and Financial Supervisory Service “in lieu of self-regulation” of cryptocurrency exchanges. “Rep. Yoon Chang-Hyun of the People Power Party plans to propose a revision of the secure digital asset transactions bill at the first legislative review subcommittee of the National Assembly’s Political Affairs Committee held on the same day.” (cryptopotato)

Block Earner CEO Calls for Licensing Clarity After Being Sued for Crypto Products

The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the country’s financial services regulator for providing unlicensed crypto-based investment products. The Australian Securities and Investment Commission (ASIC) announced on Nov. 23 local time that it started civil legal proceedings against the company because it offered three crypto-linked fixed-yield earning products without an Australian Financial Services (AFS) license. (Cointelegraph)

CFTC Commissioner: Too Soon To Say if FTX Crisis Was Intentional

As mounting damage from FTX’s failures percolates, Commissioner Kristin Johnson said if regulators determine there was wrongdoing, it would still be another question entirely of whether they were intentional in nature. “We’re in the early days and beginning to peel back the layers of what’s happened, so I would feel remiss to begin to describe what I think are regulatory missteps or even risk management failures,” Johnson said during an appearance before lawmakers and industry members at the Blockchain Association Policy Summit in Washington. (Blockworks)

Top House Committee to Hold Hearing Into FTX Collapse Next Month

The House Financial Services Committee will hold a hearing into FTX next month, the committee announced Wednesday.