Regulators

🚨 REPRESENTATIVE OF BETTING CONTRACTS 🚨

🇺🇲Representative Ritchie Torres Offers to Help #CFTC in Regulating Election Betting Contracts in the United States

The #CryptoFriendly democrat argued that instead of outright bans, US #regulators should focus on regulating these contracts to prevent bad actors from gaining #MarketShare .

Ex-Blockchain Global Director Is Sued Over $ACX Collapse

Key Takeaways:
*An ex-Blockchain Global director is in legal trouble for wrongdoing.
*The collapse of the exchange had left millions of users' funds locked up, attracting regulatory attention.
*The director departed Australia after restrictions were removed, amidst mounting probes.

A significant crypto shake-up is happening as a one-time director of a defunct exchange is currently under intense legal fire. 

He faces accusations of mismanagement, deception, and failing to safeguard client funds. These charges place him at the center of a significant global crypto collapse.

Allegations Tied to Missing Customer Funds

The exchange suddenly stopped doing business, stranding millions of dollars' worth of customer assets. Users were trapped, and the growing complaints prompted an increasing scrutiny of the company's internal workings. 

The former director is facing charges for inadequate record-keeping. They are also accused of deceptive maneuvers that may have led to disruption and financial losses.

Director Leaves as Case Builds

After being prevented from departing the country for several months, the director departed a few days after travel bans were eased. His departure has not interrupted the call for accountability, with regulators now proceeding with court action. 

Regulators are ramping up scrutiny on crypto, pushing for stricter oversight. The case also serves as a stark warning to executives who think they can ignore the rules.

#ACX #ACXCoin #LegalUpdate #crypto #Regulators

🚨EXCLUSIVE🔥

🇺🇸 Bank of America #CEO says US banking industry will embrace cryptocurrencies for #Payments if #Regulators allow it💪

#BankOfAmerica #Banking

Regulators Can’t Keep Up? Coinbase CEO Urges Crypto Approval Overhaul

Approximately one million new tokens are created weekly according to Coinbase CEO Brian Armstrong.

As the digital asset explosion unfolds, Armstrong is sounding the alarm on outdated listing processes and hurdles in crypto regulation.

On January 26, Armstrong took to X (formerly Twitter) to propose a more efficient method for listing cryptocurrencies on exchanges like Coinbase. His message?

The current approval system isn’t cutting it anymore.

Too Many Tokens, Too Little Time
Armstrong said,
“Evaluating each one by one is no longer feasible.”
With 1 million new tokens entering the market every week, crypto exchanges face an increasingly overwhelming challenge in evaluating and listing them all.

The sheer volume has created a “high-quality problem” but also one that can no longer be addressed with the current, labor-intensive process.

According to Armstrong, for exchanges like Coinbase, the traditional “allow list” system—where tokens are manually reviewed and approved—is quickly becoming outdated.

Armstrong’s call for a rethink on how tokens are listed highlights the logistical difficulties of keeping pace with the rapid growth of the market.

But it’s not just the exchanges that are struggling. Regulators are feeling the pressure too.

Armstrong noted that regulators are not equipped to approve each new token individually, especially with 1 million tokens being created every week.

He recommends a shift from the “allow list” to a more efficient “block list” system. This approach would focus on blocking problematic tokens while allowing others to enter the market freely.

Armstrong wrote,
“Regulators need to understand that applying for approval for each one is totally infeasible at this point.”

The current method, he argued, isn’t scalable. Instead, he argues that regulators could use data-driven tools—like customer reviews and on-chain scanning—to assess tokens more

#CoinbaseCEO #coinbase #Regulators #CryptoMarket #CryptoNews

#Regulators

BlackRock, State Street and Vanguard Accused by US Government of Colluding To Drive Up Energy Prices

US government authorities are accusing the asset management giants BlackRock, State Street and Vanguard of colluding against the coal industry.
In November of last year, 11 state attorneys general, led by Texas AG Ken Paxton, accused the three financial firms of engaging in an anticompetitive conspiracy to drive down coal production.
The attorneys general allege the firms tapped their influence as shareholders in competing coal companies to reduce industrywide coal output, illegally sharing competitively sensitive information in the process.
Now, the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ) have filed a “Statement of Interest” in support of the AGs’ case.
The federal officials argue that BlackRock, State Street and Vanguard’s alleged conduct increased energy prices for consumers and businesses.
“This case is not about ordinary activity by asset managers such as passive index investing or even pro-competitive activism. As alleged, the holders of large quantities of stock in competing companies agreed to use those shareholdings to reduce the output of US coal to increase profits at the expense of American consumers and businesses. This case is about precisely the sort of conduct, including concerted efforts to reduce output, which have long been condemned under the antitrust laws.” 

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📉 Trump DIDN'T Repeal Biden’s CRYPTO Order!!!

On his first day back in the White House, President Donald Trump trashed 78 of Joe Biden’s executive orders, but strangely left Executive Order 14067 untouched. That’s the order known for tightening the screws on crypto by fueling “Operation Choke Point 2.0.” Basically, critics say it gave U.S. regulators the green light to restrict crypto firms’ access to banks—leading to shutdowns like Silvergate Bank and Signature Bank.

Crypto watchers are scratching their heads. Trump once slammed “Choke Point 2.0” at the 2024 Bitcoin conference, promising to junk it as soon as he got back in office. Yet, he didn’t. Some folks, like analyst Adam Cochran, are outraged that the president never mentioned the order while campaigning or on day one. They fear the SEC, FDIC, and other agencies still have too much power to clamp down on crypto under the current rules.

Regulators say they’re just safeguarding the banking system. But many in the crypto world see a targeted crackdown—especially after banks friendly to digital assets mysteriously disappeared or faced serious regulatory heat. So for now, America’s crypto players are left wondering: Will Trump actually keep his anti-“Choke Point 2.0” promise? Or is he backing off in favor of other agendas? Until the president acts, the digital asset industry might stay stuck in legal limbo—right where it’s been since Biden signed 14067. At least he kept his promise and pardoned Ulbricht (Silk Road founder), so we see that he didn't forget about crypto altogether.

Let's see how this evolves - follow @Professor Mende - Bonuz Ecosystem Founder and I'll keep you updated! #DonaldTrump #Trump #CryptoMarketNews #Order14067 #Regulators $TRUMP