A U.S. District Judge has entered a default judgment order that requires Decentralized Organization Ooki DAO to permanently shut down and pay a civil monetary penalty of $643,542. Today the CFTC’s Division of Enforcement Director Ian McGinley released a statement on the Ooki DAO litigation victory. Learn more: https://t.co/MInNeKLeH5 — CFTC (@CFTC) June 9, 2023…
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Coinbase, Robinhood, and representatives from the United States commodities regulator are set to testify before Congress on June 6 to discuss a newly proposed crypto bill. The trio will be sharing their firm’s, or agency’s views on a proposed bill that could see certain crypto tokens classified as digital commodities, among other things. “Tomorrow I…
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Japanese artificial intelligence experts and researchers are urging caution over the use of illegally obtained information to train AI, which they believe could lead to “a large number of copyright infringement cases,” as well as job losses, false information and the leaking of confidential information. On May 26, a draft from the government’s AI strategy…
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Self-regulatory organization CryptoUK and crypto exchange Kraken UK has slammed a recent report from a panel of British lawmakers that suggested crypto should be regulated in a similar vein to gambling. In a May 17 report, the Treasury Committee “strongly recommended” that unbacked crypto be regulated as gambling due to concerns over the “significant” consumer…
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Defense lawyer and former federal prosecutor, James K. Filan, expects the infamous Hinman Speech documents to be released to the public by June 6, citing a previous court order. The Hinman documents relate to a 2018 speech from former Securities and Exchange Commission (SEC) corporation finance division director Bill Hinman, who essentially stated that Ether (ETH)…
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The U.S. The Securities Exchange Commission (SEC) has finally given a formal response in court in relation to Coinbase’s petition for clear crypto regulation, stating that any rulemaking may take years and that enforcement actions will suffice in the meantime. According to court documents filed on May 15, the SEC argued that it is under…
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The chair of the United States Securities and Exchange Commission (SEC) Gary Gensler has hit back at Coinbase’s petition compelling the agency to provide a clear stance on crypto regulation, arguing that there are already adequate laws in place. In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about the…
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Almost 400 Virtual Asset Service Providers (VASPS) have voluntarily shut down or had their authorizations revoked in Estonia following the government’s recently enhanced Terrorist Financing Prevention and anti-money laundering laws (AML) that came into effect in March. The amended laws expanded the defined scope of VASPs, required firms to have legitimate links to Estonia, increased licensing…
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FTX founder and former CEO Sam Bankman-Fried (SBF) is seeking to have up to 10 criminal charges against him dismissed in court, arguing for several counts that there has been a failure to state an offense. According to court documents filed in the southern district court of New York on May 8, SBF’s legal team…
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The U.S. Securities and Exchange Commission (SEC) has issued its largest-ever whistleblower award totaling $279 million. The SEC generally issues awards ranging between 10% to 30% of collected monetary sanctions that are larger than $1 million. To receive such an award, the whistleblower needs to have provided information that directly assists the SEC in successfully…
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