The U.S. Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, with orchestrating a “scheme to defraud equity investors” in the collapsed cryptocurrency exchange.
Cryptocurrency platforms applying for registration in Canada will now have to agree to tighter rules, including a ban on margin and leverage trading. Firms will also have to hold the assets of their clients separately from their proprietary business.
The founder and CEO of leading cryptocurrency exchange Binance, Changpeng Zhao, has welcomed the “stress test” the platform is enduring as users move to withdraw their funds from the platform.
Top stories in the Crypto Roundup today:
- SEC Charges Sam Bankman-Fried With Defrauding FTX Investors
- Canada to Ban Crypto Leveraged Trading
- Binance Welcomes ‘Stress Test’ As Withdrawals Top $3 Billion
- BTC Netflows Record Largest Outflows from Exchanges