Cryptocurrency-related enforcement actions undertaken by the United States securities regulator significantly increased in the six months following the bankruptcy of cryptocurrency exchange FTX. An analysis of press releases from the U.S. Securities and Exchange Commission (SEC), and news reports on its actions, found that in the six months preceding FTX’s collapse, the SEC undertook approximately…
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The United States could run the risk of an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance. Sergej Kunz, co-founder of decentralized finance (DeFi) protocol 1inch Network, believes the SEC’s enforcement action against the two centralized exchanges could have a negative effect on the growth…
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The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president Ryan Wyatt and several legal experts, appeared before the committee to engage in what transpired to be a constructive dialogue. …
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On June 8, the European Consumer Organisation (BEUC) — an umbrella group for 46 independent consumer organizations from 32 countries — published a report titled: “Hype or harm? The Great Social Media Crypto Con.“ In the 20-page document, the group states that consumers are not fully aware of the risks associated with crypto. Today BEUC &…
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Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission. The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rearden in the Southern District of New…
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Commonwealth Bank (CBA), the largest bank in Australia, has said it will decline or temporarily hold certain payments to cryptocurrency exchanges, citing the risk of scammers. The move comes amid two major global exchanges facing a lawsuit from the United States securities regulator and is just a few weeks after another major bank, Westpac banned…
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Terraform Labs co-founder and CEO Do Kwon may be subject to multiple sentences in the United States and South Korea, according to a senior South Korean prosecutor heading the investigation. It is understood that Kwon is currently serving house bail in Montenegro after having his bail proposal granted by a Montenegro court on June 5. Both Kwon and…
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Celebrity defendants Kim Kardashian and Floyd Mayweather are back on the hook for a class action lawsuit that alleges their improper promotion of the now-defunct crypto token EthereumMax (EMAX). While the class action suit was brought against the pair in January 2022 for allegedly promoting a “pump and dump” scheme, it was dismissed by a…
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Messari CEO Ryan Selkis has praised a newly proposed Republican crypto bill, commenting it is a “10x improvement” on all other crypto bills introduced to the United States Congress so far. The “Digital Asset Market Structure” (DAMS) bill, introduced on June 1, proposes to establish a framework to fill the gaps in the regulatory process…
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Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May. An MPI license allows Circle to offer digital payment token services and domestic and cross-border…
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