Page 4 - Regulating Crypto News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Abolishing the IRS; crypto as foreign asset; how to lead a firm; and other highlights from our favorite tax bloggers.

Sheets, it became clear about a month ago that the money was no longer there, and it all unravelled. it has been described as one of the biggest financial frauds in us history, so what has the impact on the victims and those that have suffered in this, and essentially where does it leave them now? the victims are basically in a position where they don't know where they are because it's unclear how many assets the combined ftx—alameda group still has to distribute to the people who thought that their money was safe with the exchange. what we know for sure is that we won't be seeing money anyt...

Because these bankruptcy proceedings take a long time. mount cox, which was another crypto exchange failed many years ago and it is still distributing assets. estimate no doubt a — distributing assets. estimate no doubt a lot _ distributing assets. estimate no doubt a lot of— distributing assets. estimate no doubt a lot of uncertainty| no doubt a lot of uncertainty and frustration, so where does this leave regulators in regulating crypto in the future? . , , future? that is the big question. _ future? that is the big question, what - future? that is the big question, what do - future? that...

Regulating crypto. this is obviously a pretty complicated story. so let's get into it with our very best. joining me now is tom winter and to explain ftx and crypto, cnbc's senior analyst, ron, and senior financial reporter, gretchen morganson. so, tom, walk us through the indictment. >> reporter: so basically what the u.s. attorney's office and the sec are alleging here today is that sam bankman-fried conducted what would be a classic fraud scheme of taking money from others and instead of putting it where they thought it was going to go, he used for it own private hedge fund called alameda. ...

A U.S. senator has called on the SEC to issue crypto regulations now "through a transparent notice-and-comment regulatory process."