The main news from financial regulators for the week

Well-known crypto-journalist Colin Wu told the main news from the world of cryptocurrencies over the past 7 days from December 9 to December 15, 2023. Among them, he noted several news stories related to financial regulators. During the reporting period, interesting statements and actions of supervisory authorities were recorded.

For example, the head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, said on CNBC's Squawk Box: “under the law, most cryptocurrencies are considered commodities.”. In addition, he admitted that a “turf war” is ongoing between the leading financial regulators of the United States.

Stablecoin issuer Tether (USDT) has frozen 41 wallets associated with individuals on the US Treasury Department's (OFAC) Specially Designated Nationals (SDN) list.. In a blog post, company officials said the actions were «preventive measures.»

Data shows that several wallet owners used the Tornado Cash service. Tether CEO Paolo Ardoino noted that the company will continue to contribute to the formation of a secure stablecoin ecosystem for all users. A few days later, Tether blocked another 161 addresses on the Ethereum network.. A ZachXBT analyst said that some of them are related to an attack on the Stake protocol.

In addition, representatives of the Securities and Exchange Commission (SEC) emphasized that they will consider statements made by representatives of Binance and its former CEO Changpeng Zhao during the settlement agreement with financial regulators and US authorities.

Finally, the IRS is asking FTX to pay $24 billion in taxes.. The exchange's lawyers argue that the IRS must substantiate its claims and clarify how it assessed the amount owed.. The institution is confident that the management of the trading platform hid income from profits, employment, and also did not pay fines due to FTX and its subsidiaries for the period from 2018 to 2022.