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LONDON: The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Jean-Paul Servais said regulating crypto platforms could draw on principles from other sectors which handle conflicts of interest, such as at credit rating agencies and compilers of market benchmarks, without having to start from scratch. Cryptoassets like bitcoin have been around for years but regulators have resisted jumping in to write new rules. But the implosion at FTX, which left an estimated one million creditors facing losses totalling billions of dollars, will help change that, Servais told Reuters. "The sense of urgency was not the same even two or three years ago. There are some dissenting opinions about whether crypto is a real issue at the international level because some people think that it's still not a...

The US securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported. The agency has been scrutinizing whether the former top executives failed to adequately disclose those privacy issues to shareholders or put in place proper controls, according to the report, which cited people familiar with the matter. At the time, the company was being led by Jack Dorsey with Ned Segal as CFO and Parag Agrawal as the chief Technology officer. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said. The company and the SEC did not immediately respond to Reuters requests for comment. Musk renamed the social media platform as X following the acquisition. Source: https://thefoxposts.com/us-regulator-probes-twitter-security-l...