Legal
Regulation
FDIC Inspector General finds glaring gaps in its crypto oversight efforts
An independent watchdog found the Federal Deposit Insurance Corporation to be ill-prepared to advise member banks on crypto activities and their associated risks.
Technology
Taproot Assets launches on Bitcoin, introducing tokenized asset capabilities to the network
Lightning Labs's Ryan Gentry wrote in the announcement that the upgrade was the way to "bitcoinize the dollar."
Investments
‘Yeah, it’s gonna get approved’: Mike Novogratz predicts 2023 approval for spot Bitcoin ETFs
The Galaxy Digital CEO said the SEC's declination to appeal in its case against Grayscale could signal a decisive shift in its approach.
Tokenization
Reddit ends blockchain Community Points; says there’s ‘no path to scaling it’
The team also cited an uncertain regulatory environment as reason for pulling back on the project.
CBDCs
Fed Governor Michelle Bowman expresses central bank’s skepticism of CBDCs
Fears of a U.S. CBDC may be unfounded, as the central bank itself hardly seems persuaded of the benefits.
Regulation
SEC publishes 2024 assessment metrics for crypto industry registrants
Written and published by the SEC's Division of Examinations, the standards are meant to prioritize risk areas that pose emerging threats to investors or market integrity.
Exchanges
Binance stops accepting new UK customers effective today
The exchange announced shortly before end of business in the UK that it would cease accepting new customers from the country.
Regulation
SEC will not appeal Grayscale decision, bringing spot Bitcoin ETFs closer to reality
The SEC's decision not to challenge an August ruling means that it will be required to revisit Grayscale's application.
Investments
‘I liked him; I trusted him’: Anthony Scaramucci describes being taken in by Sam Bankman-Fried
The once-revered FTX founder won admiration and trust of countless peers with a facade of virtue signaling and projected altruism before the illusion was shattered.
Legal
Secret recording of all-hands Alameda meeting played in court leaks online
Caroline Ellison briefed employees in November of 2022 on the seriousness of the company's position and admitted to serious wrongdoing by executives.
Crime
SBF Trial: Judge reprimands defense counsel in Ellison cross-examination
Judge Kaplan expressed surprise at defense counsel Mark Cohen's tactics, saying: "Mr. Cohen, I've never seen the cross of a cooperator done like this."
Regulation
Fed foresees slowdown in GDP growth but remains committed to 2% inflation target
The Federal Open Market Committee's September meeting posted some optimistic data, but target inflation remains elusive.