The settlement between the crypto lending firm and the FTC was first announced in October and does not resolve former CEO Stephen Ehrlich’s pending case with the CFTC.
Is the settlement further indication that the crypto industry’s Wild West era is winding down, with a new epoch marked by regulation and taxation beginning?
The Financial Stability Board suggested the crypto industry might still require additional regulatory measures to prevent another FTX-like situation at the hands of crypto service providers.
According to Arthur Hayes, global cryptocurrency exchange Binance paid one of the largest corporate fines in history for challenging the financial and political status quo in America.
Pending a motion for review filed by the U.S. government, the former Binance CEO will not be allowed to return to his home in the United Arab Emirates as he awaits sentencing.