677:FTX's $157M Suit, MiCA's EU Impact, and Senate's Crypto Gridlock

Episode 677:

FTX Sues Salameda - FTX, now bankrupt, has filed a $157.3M lawsuit against former Salameda employees. Accusations include fraudulent withdrawals in the 90 days leading to bankruptcy. Ex-CEO Sam Bankman-Fried is in jail, awaiting trial on fraud and conspiracy charges.

Binance's EU Exit Plan - Binance is concerned about the EU's upcoming MiCA regulation, which could force the delisting of stablecoins by June 2024. The regulation leaves ambiguity around decentralized issuers and imposes a cap on stablecoin transactions.

Toomey's Crypto Reality - Ex-Senator Pat Toomey paints a grim outlook for crypto legislation in the Senate. Despite House progress, Toomey asserts that the Senate remains a roadblock. His stance aligns with SEC Chair Gary Gensler's continued crypto enforcement.

India’s Dark Net Watch - India is upping crypto surveillance with the Cryptocurrency Intelligence and Analysis Tool. The tool monitors dark net wallet activities amid rising crypto crimes. Heavy taxes and a digital rupee are also in the pipeline.

Bybit Exits UK Market - Bybit is leaving the UK due to new FCA regulations requiring clear and fair marketing. The exit reflects the UK's tightening grip on crypto and serves as a cautionary tale for other exchanges.

eToro’s Cyprus Entry - eToro secures a Crypto Asset Service Provider registration from CySEC, preparing for the EU's MiCA regulation. The move indicates eToro's readiness to adapt but raises concerns over the future of decentralized platforms in the EU.

Crypto Overnighter Podcast (9/22/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

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