Regulators Tighten Crypto Rules as FTX Scandal Widens, NY Sues Gemini Over $1B Fraud

Regulators like European Banking Authority, Basel Committee, and Hong Kong SFC introduced new guidelines for crypto assets.

FTX's former counsel testified he was unaware of commingling between FTX and Alameda. Accounting analysis showed $9B gap between firms.

Pennsylvania House dropped proposed 2-year crypto mining ban due to pressure from trade unions.

New York AG sued Gemini, Genesis and DCG for allegedly defrauding $1B from investors through Gemini Earn program.

Investigation found Gemini misled investors about risks of Genesis' lending operations behind Earn program.