International Bodies
Philippines SEC Teams Up with U.S. Counterpart to Combat Crypto Fraud: The Philippines SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime. More here.
United States
Coinbase Receives Regulatory Approval to List Perpetual Futures Trading to Users Outside US: Coinbase International Exchange has acquired regulatory approval from Bermuda’s financial regulator to enable eligible non-US retail customers to trade perpetual futures. More here.
CFTC Commissioner Plans to Modernize Investor Protection with Technology: To minimize the damages caused by financial fraud, Romero proposed the formation of the National Financial Fraud Registry, a centralized record of all crimes and fines related to financial fraud. More here.
SEC’s Gensler Throws More Crypto Punches in Congressional Hearing: Gary Gensler, while avoiding answers on bitcoin ETFs, argues in testimony that crypto firms dangerously mix assets in a way outlawed in other corners of the financial system. More here.
SEC’s Gensler Taken to Task Over Crypto Custody Guidance Again in House Hearing: Representative Mike Flood questioned Gensler about the SEC’s Staff Accounting Bulletin (SAB) 121, issued in March 2022. The SAB concerned accounting and disclosing crypto assets in the custody of public companies such as banks and platforms like Robinhood and Coinbase. More here.
U.S. House Committee Leadership Threatens to Subpoena SEC Over FTX Docs: Representative Patrick McHenry (R-NC) led efforts starting in February to obtain communication records between SEC and Justice Department staff over the arrest of Sam Bankman-Fried. More here.
SEC Extends Ark, Global X ETF Deadlines as Government Shutdown Looms: The U.S. Securities and Exchange Commission moved earlier than required to extend a couple of deadlines in the pile of spot bitcoin ETF applications awaiting responses. More here.
New U.S. Bill to Require Firms to Report Off-Chain Transactions to CFTC: The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occurring off-chain. More here.