Bitcoin News and Finance: What You Need to Know

Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order to FTX Japan, the Japanese subsidiary of FTX.com. The financial watchdog has also ordered the crypto exchange to submit a business improvement plan by Nov. 16. Japanese Regulator Takes Action Against FTX Japan Japan’s Financial Services Agency (FSA) announced Thursday that the Kanto Local Finance Bureau has taken action against FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s embattled crypto exchange FTX.com. Three orders have been issued against the crypto exchange: a business suspension order, an order to hold assets domestically, and a business improvement order. FTX Japan must suspend operations from Nov. 10 to Dec. 9 and the exchange cannot accept new assets from clients during that time. The regulator has also ordered the company to submit a business improvement plan by Nov. 16. The FSA announcement explains that FTX Japan’s decision to halt customer withdra...

The White House and members of the U.S. Senate Banking Committee have called for proper cryptocurrency regulation following the collapse of crypto exchange FTX. “Without proper oversight of cryptocurrencies, they risk harming everyday Americans, and this is something that clearly we monitor and we see as an important issue,” said White House press secretary Karine Jean-Pierre. White House on Crypto Regulation Following the collapse of cryptocurrency exchange FTX, the White House and several U.S. lawmakers have called for stricter crypto regulation. White House press secretary Karine Jean-Pierre said at a press briefing Thursday in response to the FTX crisis: The administration has consistently maintained that without proper oversight of cryptocurrencies, they risk harming everyday Americans, and this is something that clearly we monitor and we see as an important issue. She added: “The most recent news further underscores these concerns and highlights why prudent regulation of ...

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined two paths the agency is taking to regulate the crypto industry. Meanwhile, a U.S. congressman is investigating whether Gensler helped FTX CEO Sam Bankman-Fried and his bankrupt crypto exchange on legal loopholes to obtain a regulatory monopoly. SEC Chair Gensler on FTX’s Undoing The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about crypto regulation and the undoing of cryptocurrency exchange FTX in an interview with CNBC Thursday. Without confirming whether the SEC is investigating FTX, the chairman explained that when crypto exchanges “mix together a bunch of customer money” without disclosure and “leverage borrowing against it,” investors get hurt. He was also asked about the watchdog going after Kim Kardashian which, on a relative basis, is a much smaller case than FTX. Gensler replied: Look, I think that investors need better protection in t...

Lionel Messi, one of the biggest Argentine soccer superstars, has announced his participation as an investor and brand ambassador in Sorare, an NFT (non-fungible token) game. Sorare hopes that Messi’s presence will improve the way in which the company relates to users, setting new standards in this regard. The economic details of the deal were not disclosed. Lionel Messi Partners With NFT Game Sorare Lionel Messi, one of the biggest soccer superstars and current player on the PSG soccer club, is now a brand ambassador and investor in the NFT card trading game Sorare. The presence of the player is directed to grow Sorare’s brand and improve the quality of the interactions the brand has with its users. As part of this partnership, Sorare announced that Messi took a stake in the company, without disclosing the numbers behind this transaction. To Sorare, Messi’s partnership is a milestone for the company, which had previously seen interest from another Spanish soccer player, Gerard Piq...