Law Decoded, Nov. 7–14: How regulators reacted to the FTX crash
While some lawmakers expressed their eagerness to quick up the regulatory progress, others blamed the SEC in FTX’s monopoly. Last week was tough — the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry’s very own “Lehman Brothers moment” pushed regulators to react. United States Senator Cynthia Lummis, famous for her openly pro-crypto position, promised deliberate with her colleagues on whether there was market manipulation, while Maxine Waters, chair of the United States House of Representatives Financial....
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The final Law Decoded moves away from specific news to reflect on the biggest legal issues facing crypto. Editor’s noteLadies and gentlemen, it is bittersweet to welcome you to the final installment of Law Decoded, at least with yours truly at the helm. Though someone may pick this newsletter back up at some point, there are no plans to do so now.Taking advantage of the rose-tinted glasses or maybe the graduation goggles that are in effect for this final newsletter, I will be shaking up the format. As last week’s Law Decoded focused on a few long-standing stories in crypto, this week, I....
Determining the future of who can and cannot custody crypto and how much you need to know about them remains a central topic of discussion. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.Editor’s noteLast week’s Law Decoded sounded the alarm on threats to self-custodial wallets in the U.S. in particular. While such concerns have continued to take shape, nothing concrete has emerged from the U.S. Treasury, which was at the heart of last week’s conversation.Though I don’t like to recycle themes, it seems a reasonable....
Larger investors, or whales look to have reacted differently than retail investors amid this week's bitcoin price drop.
In the U.S., all eyes are on Joe Biden's planned appointees, while Europe is seeing progress under a new AML regime. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.Editor's noteIn the United States, as President Donald Trump stonewalls any efforts at transitioning to a new administration, all eyes are on Joe Biden’s potential team and any hints as to candidates for major appointed positions. Further complicating the set up of a presidential roster is that most presidential appointments require Senate approval. The....
Rep. Yoon Chang-Hyeon noted that Korean exchanges each reacted differently to the crash and he wanted to invite both Do Kwon and the exchanges involved to learn more details. The dramatic fall of Terra (LUNA) along with the algorithmic stablecoin UST has been a major talking point among the crypto industry. And now South Korean conservative party has requested a parliamentary hearing on the matter.Korea's conservative party requested to have a hearing about the Terra incident. The politician noted Korean exchanges each reacted differently to the crash. He wanted to invite both Do and....