Happy Thanksgiving to my fellow Yankees! For the rest of you, I’m counting on you to keep an eye on Twitter in case someone else files for bankruptcy. But today, we’re looking at FTX’s first bankruptcy hearing.
As campaign mega-donor Sam Bankman-Fried and his FTX compatriots vanish from U.S. policy circles, their absence left a void in the crypto industry’s political involvement. Part of that may be filled by the U.S. arm of rival Binance.
FTX creditors concerned about their names and other personal information being disclosed as part of the crypto exchange’s bankruptcy proceedings can breathe a sigh of relief – at least temporarily.
"The ill-advised, deceptive, and potentially illegal actions of a few have a direct impact on the valuation of Bitcoin and other digital assets," the letter read.
Member of Parliament Lisa Cameron’s cross-party group for digital assets is working to ensure crypto regulations remain apolitical amid all the changes in leadership.
EU approval processes of 18 months can be sped up if there are concerns that FTX might topple, CoinDesk was told.
Crypto companies say the city’s Virtual Assets Regulatory Authority has promised a regulatory framework before year end.
Finance ministers from across the world are due to examine crypto regulations next week – but they may shy away from exploring DeFi.
The time it takes to register a firm depends on the quality of the information provided to the Financial Conduct Authority, the regulator told CoinDesk.