{"id":510516,"date":"2022-11-15T13:17:32","date_gmt":"2022-11-15T10:17:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\/"},"modified":"2022-11-15T13:17:32","modified_gmt":"2022-11-15T10:17:32","slug":"law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\/","title":{"rendered":"# Law Decoded, Nov. 7\u201314: How regulators reacted to the FTX crash"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3846869dfa7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3846869dfa7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\/#%E2%80%9D_Law_Decoded_Nov_7%E2%80%9314_How_regulators_reacted_to_the_FTX_crash_%E2%80%9C\" >&#8221; Law Decoded, Nov. 7\u201314: How regulators reacted to the FTX crash  &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\/#The_pro-_and_anti-crypto_winners_and_losers_from_the_US_midterms\" >The pro- and anti-crypto winners and losers from the U.S. midterms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\/#Middle_East_Asia_and_Africa_blockchain_association_launches_in_Abu_Dhabi\" >Middle East, Asia and Africa blockchain association launches in Abu Dhabi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\/#The_Clearing_House_opposes_CBDC_in_comments_for_US_Treasury\" >The Clearing House opposes CBDC in comments for U.S. Treasury<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Law_Decoded_Nov_7%E2%80%9314_How_regulators_reacted_to_the_FTX_crash_%E2%80%9C\"><\/span>&#8221; Law Decoded, Nov. 7\u201314: How regulators reacted to the FTX crash  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmZiZDgzOTctMmViNi00YWExLWE5ODEtYzVhYjYyYWM4MGIzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>Last week was tough \u2014 the alarming <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry\u2019s very own \u201cLehman Brothers moment\u201d 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 Services Committee, pushed for additional federal oversight of crypto trading platforms and consumer protection.\u00a0<\/p>\n<p>European Parliament economics committee member Stefan Berger has compared the current situation with FTX to the 2008 financial crisis and said that the Market in Crypto Assets (MiCA) framework should prevent such crises in Europe. United States senators Debbie Stabenow and John Boozman have doubled down on their commitment to publishing a final version of the Digital Commodities Consumer Protection Act 2022.<\/p>\n<p>Tom Emmer, the recently reelected Republican representative representing Minnesota\u2019s 6th district in the United States House of Representatives, shocked the public with allegations that the Securities Exchange Commission (SEC) helped the FTX to obtain a \u201cmonopoly\u201d in the U.S. Specifically, Emmer believes the SEC Chair Gary Gensler to be the one who was helping Sam Bankman-Fried and FTX \u201cwork on legal loopholes.\u201d However, the lawmaker did not provide any evidence, claiming that his office is working on it. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_pro-_and_anti-crypto_winners_and_losers_from_the_US_midterms\"><\/span>The pro- and anti-crypto winners and losers from the U.S. midterms<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Results from many election races for seats in the United States Senate and House of Representatives are still coming in, but a number of candidates who have expressed staunch views on digital asset regulation won on Nov. 8. Pro-crypto House incumbents including Minnesota Representative Tom Emmer and North Carolina Representative Patrick McHenry won re-election, as did crypto skeptic Brad Sherman in California. Democrat Tim Ryan lost on Nov. 8 to Republican J.D. Vance, who got more than 53% of the vote. Vance previously disclosed he held up to $250,000 in Bitcoin, while Ryan supported legislation aimed at simplifying digital asset tax reporting requirements.<\/p>\n<p>Continue reading<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Middle_East_Asia_and_Africa_blockchain_association_launches_in_Abu_Dhabi\"><\/span>Middle East, Asia and Africa blockchain association launches in Abu Dhabi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A new blockchain and cryptocurrency-focused association has been launched within Abu Dhabi\u2019s free economic zone to further the development of blockchain and crypto ecosystems across the Middle Eastern, North Africa and Asia regions. The Middle East, Africa &amp; Asia Crypto &amp; Blockchain Association will aim to facilitate regulatory solutions, create commercial opportunities and invest in education to support industry growth. The association will be spearheaded by board chairman Jehanzeb Awan, founder of an international risk and compliance consulting firm headquartered in Dubai.<\/p>\n<p>Continue reading<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Clearing_House_opposes_CBDC_in_comments_for_US_Treasury\"><\/span>The Clearing House opposes CBDC in comments for U.S. Treasury<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Clearing House claims a central bank digital currency (CBDC) is \u201cnot in the national interest\u201d of the U.S because the risks of the possible issuance outweigh the benefits. As the company, owned by 23 banks and payment companies, has written in its letter to a Treasury Department, \u201cthe foundational requirements in place to prevent criminal and illicit use of commercial bank money must be <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lied to a U.S. CBDC\u201d should it become a reality. The Clearing House also called for a federal prudential framework with standards for digital assets service providers that are equivalent to those for depository financial institutions engaged in functionally similar activities.<\/p>\n<p>Continue reading<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/law-decoded-nov-7-14-how-regulators-reacted-to-the-ftx-crash\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Law Decoded, Nov. 7\u201314: How regulators reacted to the FTX crash &#8220; Last week was tough \u2014 the alarming series of crypto meltdowns continued with the failure of FTX, one of the biggest exchanges on the market. The crypto industry\u2019s very own \u201cLehman Brothers moment\u201d pushed regulators to react. United States Senator Cynthia Lummis,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMmZiZDgzOTctMmViNi00YWExLWE5ODEtYzVhYjYyYWM4MGIzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,77146,70288,25460,70934,8575],"class_list":["post-510516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-uae","tag-elections","tag-middle-east","tag-regulation","tag-usa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510516"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510517"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}