US lawmaker warns of ‘major consequences’ for users of unregulated crypto fir...
“FTX’s FTT tokens are now worthless, and even worse, FTX.com customers are completely unable to access their funds,” said Maxine Waters. Maxine Waters, chair of the United States House of Representatives Financial Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection amid FTX facing liquidity issues.In a Nov. 10 statement, Waters cited FTX’s difficulties as the latest example of incidents “involving the collapse of cryptocurrency companies” and how such events could potentially impact consumers in the United States. The committee....
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Hong Kong’s Securities and Futures Commission (SFC) has issued a warning about unregulated cryptocurrency trading platforms, particularly Binance. The regulator said that the crypto exchange is offering the trading of “stock tokens.” The SFC issued a statement Friday warning the public about unregulated crypto trading platforms. The regulator addressed Binance in particular, stating that the global crypto exchange may be offering trading services in “stock tokens” to Hong Kong investors. The SFC detailed: The SFC wishes to make it clear that no entity in the....
A U.S. lawmaker has demanded answers from Apple CEO Tim Cook and Google CEO Sundar Pichai about their measures against fake cryptocurrency apps appearing in the Apple App Store and the Google Play store. “Millions of Americans use mobile apps to invest in unregulated digital assets,” said Senator Sherrod Brown. “Reports have emerged of fake crypto apps that have scammed hundreds of investors.”
U.S. Senator Questions Chief Executives of Apple and Google on Fake Crypto Apps
Senator Sherrod Brown (D-OH), chairman of the Senate Committee on Banking,....
A survey by German financial industry consulting firm Confinpro AG has revealed that 68% of finance experts believe that blockchain technology will have “negative or very negative consequences” for traditional banks. The firm’s leading consultant adds that now is the “time to act, rather than waiting for the technology to threaten major aspects of....
The National Bank of Hungary (MNB) has issued a public statement warning citizens who use or invest in cryptocurrencies such as bitcoin, citing their unregulated nature amid increasing instances of high-return investment schemes abusing the cryptocurrency. Roughly translated, the warning read: The so-called cryptocurrency issuers typically operate via the web with extensive marketing tools and the promise of high yields, targeting uninformed users into the system (scheme). Published yesterday, the MNB warned users looking to invest in virtual currencies that they are outside the purview of....
U.S. Senator Pat Toomey says that crypto assets are here to stay and “a thoroughly diversified portfolio should have some.” The lawmaker added that he has a “very simple” investing strategy — diversify. US Lawmaker Says Crypto Is Here to Stay U.S. Senator Pat Toomey talked about cryptocurrency on CNBC Wednesday. The....