Lawmakers have expressed their support for the U.S. SEC’s issuance of a Wells Notice to Robinhood, stating that it aligns with the SEC’s responsibility to protect investors and ensure fair markets. The move comes after Robinhood’s crypto business division received a Wells notice from the SEC. However, lawmakers have criticized SEC Chair Gary Gensler for…
According to a filing made on Tuesday, U.S. prosecutors are asking for Changpeng Zhao, the founder and former CEO of Binance, to be sentenced to 36 months in prison. U.S. prosecutors are pushing for a 36-month prison term for Changpeng Zhao, the founder and former CEO of Binance. Zhao previously pleaded guilty in the U.S….
Following a ruling against Terraform Labs and its co-founder Do Kwon in a fraud lawsuit, the company is considering the option of appealing the decision amid ongoing legal hurdles. On April 5, Terraform Labs and co-founder Do Kwon were found guilty by a Manhattan jury for defrauding investors, following SEC accusations. Terraform Labs plans to…
Terraform and its co-founder, Do Kwon, were found responsible for civil fraud charges on Friday. The case was brought against them by the Securities and Exchange Commission (SEC) last year. In February 2023, the SEC charged Terraform Labs and Kwon over the algorithmic stablecoin Terra USD, which collapsed dramatically a year earlier. Civil Fraud Verdict…
Legal proceedings in the cryptocurrency market persist as Nigerian authorities have postponed the trial of a Binance executive to April 19. The executive, along with others, was detained by Nigerian authorities following allegations. Governments worldwide are taking significant legal actions in the cryptocurrency markets, shaping the future of digital currencies. In Nigeria, the trial of…
The CFTC and SEC are at it again, this time focusing on KuCoin. Caroline Pham from the CFTC hinted that their actions might upset the SEC. Despite expectations of regulatory harmony, tensions are evident. The CFTC, overseeing commodity derivatives, hit KuCoin with numerous charges under the Commodity Exchange Act (CEA) and CFTC regulations, alongside criminal charges…
The Securities and Exchange Commission (SEC) wants a federal judge in New York to penalize Ripple Labs with a fine of nearly $2 billion. This request was revealed in court documents made available on Tuesday. The SEC accuses Ripple Labs of persisting in selling its XRP token to institutional investors despite a previous ruling by…
The highly anticipated ruling in the closely watched case has come to fruition. With the judge’s decision, Coinbase is now set to challenge the SEC’s classification of digital assets as securities. Notably, the judge has dismissed one count against Coinbase, marking a significant development in the legal proceedings. Coinbase Lawsuit Denied by Federal Judge A…
A court in Montenegro has stopped the process of sending Do Kwon, the co-founder of Terraform Labs, back to the U.S. This decision marks the third successful appeal made by Kwon to block his extradition. The Court of Appeals in Montenegro has canceled the extradition of Do Kwon to the U.S. This decision came after…
The Chinese government, through its state-sponsored media agency, Economic Daily, has once again cautioned against investing in cryptocurrencies despite the current bullish market conditions. This warning comes despite China’s purported ban on crypto trading and mining implemented in 2021. Despite the ban, China continues to be one of the largest digital asset markets globally. This…