• LedgerX may have placed its founders "on administrative leave," but they're still listed as the company's leaders on its website (via LedgerX).
    People,  Regulation

    LedgerX founders Paul and Juthica Chou ousted after futures debacle

    Badly embarrassed by a bungled futures launch, the derivatives exchange removed its CEO and COO the same day rival Bakkt expanded its offerings

    On Dec. 9, LedgerX derivatives exchange CEO Paul Chou and his wife Juthica, the COO, were unceremoniously removed by the board of the company they founded. While no explanation was given, the company suffered a huge and embarrassing setback over the summer.

  • Treasury Secretary Steven Mnuchin to Congress, "We don't need no stinkin' digital currency" (via C-SPAN).
    Cryptocurrencies,  Politics,  Regulation

    Treasury’s Mnuchin: no U.S.-issued digital currency before 2025

    The Federal Reserve may not be issuing a digital dollar anytime soon, but Europe is looking hard at creating an e-euro, and China’s digital yuan is coming

    While China and the European Union rush forward on creating a digital currency, the U.S. doesn’t see the need for one in at least the next five years, said Treasury Secretary Steven Mnuchin.

  • It seems Crypto Dad Chris Giancarlo has actual children.
    People,  Regulation

    Chris Giancarlo joins law firm, stays active in crypto

    At Willkie Farr & Gallagher, the ‘Crypto Dad’ says he will be at the juncture of ‘financial markets, emerging technologies and law and public policy’

    J. Christopher Giancarlo, who resigned from the CFTC earlier this year, has landed at the swanky midtown Manhattan offices of leading law firm Willkie Farr & Gallagher. From his perch as Chairman of the Commodity Futures Trading Commission, Giancarlo was a forceful advocate for American cryptocurrency and blockchain innovation.

  • The CFTC levied $205 million in fines. And focused on cryptocurrency. Not sayin' they're related, but... (Marco Verch via Flikr, CC BY 2.0).
    Regulation

    CFTC recoups $1.3 billion, calls crypto policing major goal

    The Commodity Futures Trading Commission’s Enforcement Division assessed $205 million in fines, covering 80% of the agency’s FY 2019 budget as it focused on cryptocurrency.

    The Commodity Futures Trading Commission’s Enforcement Division paid for itself four times over in fiscal year 2019. In fact, the $205 million in fines it assessed covered 80% of the agency’s $249 million total budget. The division also said policing digital assets had become one of its main goals. While it didn’t break down how much of that came from cryptocurrency and digital assets cases...