Binance, Coinbase navigate challenges; FTX drama takes new turn; sustained regulatory efforts | Weekly Recap
Hong Kong, Australia, and Venezuela took center stage as regulatory actions rocked the scene. Meanwhile, Sam Bankman-Fried’s parents face lawsuits while Binance and Coinbase navigate challenges . Hong Kong ramps up efforts During the Shanghai Blockchain International Week, Duncan Chiu, a member of Hong Kong’s Legislative Council, announced the forthcoming implementation of stablecoin regulations in Hong Kong by mid-2024. This endeavor stands in stark contrast to China’s rigorous cryptocurrency policies. Authorities in Hong Kong previously apprehended 11 individuals linked to a cryptocurrency fraud case associated with the JPEX platform. This decisive response was prompted by complaints of illicit activities amounting to 1 billion Hong Kong dollars ($127.8 million). The Securities and Futures Commission (SFC) underscored its vigilant oversight of the unfolding events. A few days later, subsequent reports suggested that the number of arrested individuals ...