USA US

Bill to Boost Secret Service’s Power to Tackle Crypto Crime

Two U.S. Senators have introduced a bill designed to enhance the Secret Service’s ability to tackle cryptocurrency-related crimes. The proposed legislation aims to grant the agency more authority and resources to investigate and prosecute offenses involving digital currencies. This move reflects a growing recognition of the need for specialized law enforcement capabilities in the rapidly…

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LUNC USTC TERRA CLassic

Do Kwon’s Spouse Wins Major Legal Battle Over Bitcoin and Ethereum Assets in South Korea

Do Kwon’s extradition from Montenegro is still undecided, but his wife, Ms. Lee, has recently won a big legal victory in South Korea. The court ruled that some real estate and officetel subscription rights seized from Ms. Lee should not have been taken by the state. These assets were considered to be independently acquired and…

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CFTC commodity futures trading commission

CFTC Declares 70%-80% of BTC and ETH Non-Securities: A Crypto Regulation Win?

In a surprising turn, CFTC Chairman Rostin Behnam has announced that Bitcoin (BTC), Ethereum (ETH), and about 70% to 80% of cryptocurrencies are not classified as securities. This conclusion comes from a recent ruling by the CFTC. In recent months, the cryptocurrency markets have seen numerous legal battles, including the Ripple case, which sparked speculation…

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Uniswap UNI SWAP

Uniswap Labs Challenges SEC’s Expanded Exchange Definition

Uniswap Labs is challenging the SEC’s expanded exchange definition following a Supreme Court decision affecting regulatory agency deference. The SEC’s Wells Notice to Uniswap in April signals potential legal action for unregistered securities exchange operations. Uniswap Labs Challenges SEC Over Expanded Exchange Definition Uniswap Labs recently called on the U.S. Securities and Exchange Commission (SEC)…

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Coinbase Vs Sec

Coinbase Sues SEC and FDIC for Alleged Crypto Suppression

Coinbase, a publicly traded crypto exchange, has filed two civil lawsuits against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) through an intermediary. Coinbase is asking for access to documents that might explain how the regulators decided which crypto tokens to classify as securities. Coinbase Sues SEC and FDIC…

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Binance

Binance to Pay Rs 188.2 Crore Fine in India to Resume Operations

The leading blockchain and cryptocurrency platform Binance will need to pay a fine of Rs 18.82 crore to resume operations in India. The Financial Intelligence Unit (FIU) has imposed this penalty on the company for operating in the country without complying with domestic anti-money laundering regulations. FIU Imposes Penalty on Binance for Violating AML Regulations…

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Nigeria

Nigeria Clears Binance Executives of Tax Allegations: Next Steps?

The Nigerian tax agency has dropped tax charges against two Binance executives, Gambaryan and Anjarwalla, following international pressure. However, charges against Binance itself remain. The executives still face money laundering charges, with a hearing scheduled for June 19th. However, the tax charges are now directed only at Binance itself, leaving questions about what the cryptocurrency giant…

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Bitcoin Mining

Venezuela Bans Crypto Mining Due to Power Crisis

Venezuela’s National Power Ministry has taken action against Bitcoin mining operations by disconnecting them from the country’s electricity grid and seizing more than 11,000 Bitcoin miners. This move aims to curb the high energy consumption associated with these mining farms, which has been straining Venezuela’s power resources. Venezuela’s Crackdown on Bitcoin Mining Farms Venezuela’s National…

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Robinhood robin hood

Lawmakers Criticize Gary Gensler Over Robinhood Wells Notice; Coinbase Expands Assistance

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…

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LUNC USTC TERRA CLassic

Terraform Co-Founder Do Kwon Found Responsible for Civil Fraud: Reports

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…

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Binance

Trial of Binance Executive Delayed in Nigeria

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…

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kucoin

CFTC Engages in Another Dispute with SEC Regarding KuCoin

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…

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Bitcoin’s Status in China Amid Chinese Government Crypto Warning

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…

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Chinese Authorities Warn Public About Crypto Scams amid Crackdown

Authorities in Dalian, a city in China’s Liaoning province, issued a warning to investors about fraudulent schemes posing as crypto or metaverse investment opportunities. The notice, released by Chinese financial regulators and local police, cautions investors to be cautious of “illegal fundraising activities” that promise high returns through cryptocurrency and metaverse investments. This alert comes…

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BNB Coin

Judge OKs CFTC’s $2.7B Binance Settlement: Zhao to Pay $150M Fine

In the United States, a court has officially approved an agreement between Binance, a digital asset exchange, and the Commodity Futures Trading Commission (CFTC). This comes almost a month after the former CEO, Changpeng ‘CZ’ Zhao, admitted guilt to charges linked to anti-money laundering violations. The resolution of this case holds significance as it has…

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Altcoin Altcoins

IOSCO Finalizes Policies for Crypto Regulation

IOSCO, the global securities regulator, releases key crypto rules, emphasizing investor protection and striving for a unified global regulatory framework. The International Organization of Securities Commission (IOSCO) has issued important recommendations for regulating crypto and digital asset markets. This move is a significant step towards a global framework, focusing on protecting investors and ensuring market…

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Bitcoin ETF

SEC’s Initial Opportunity to Approve 12 Spot Bitcoin ETFs Starts Today

Between November 9 and November 17, there’s an eight-day period during which the SEC could potentially approve all 12 spot Bitcoin ETF applications, as suggested by Bloomberg ETF analysts James Seyffart and Eric Balchunas. The U.S. Securities and Exchange Commission has the potential to greenlight all 12 pending spot Bitcoin ETF applications over the next…

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Senator Lummis

Republican Lawmakers Oppose SEC Crypto Accounting Rule

US House Committee Chair Patrick McHenry issued a statement criticizing the SEC’s excessive involvement in regulating cryptocurrency assets. In addition to their strong criticism of the U.S. Securities and Exchange Commission (SEC) for being too involved in regulating cryptocurrencies, leading Republican lawmakers are calling for the April 2022 rules related to cryptocurrency accounting issued by…

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Turkey

Turkey Plans Crypto Regulations by 2024

In 2022, Turkey was the second-highest globally in online searches related to crypto, as 5.5% of its population actively looked for crypto information. Turkey’s 2024 Presidential Program has revealed plans to introduce cryptocurrency regulations in the coming year. The focus is on defining crypto assets for tax purposes and legalizing crypto exchanges, although specific regulations…

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SEC SEC

Oversight Committee Warns Gensler

The US House Committee on Oversight and Accountability has issued a warning to Gary Gensler, who chairs the SEC (Securities and Exchange Commission). They have conveyed the possibility of taking disciplinary measures against him. The Committee has accused Gensler of hindering congressional oversight by not sharing specific documents. Chairman James Comer expressed his frustration with…

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Taiwan

Taiwan Issues Crypto Exchange Guidelines – Restricts Offshore Compliance

Today, Taiwan’s Financial Supervisory Commission has released important guidelines for crypto platforms. This move signals a stronger push for regulatory oversight in the cryptocurrency industry. Taiwan’s financial watchdog has unveiled guidelines aimed at safeguarding customers in the virtual asset services provider (VASP) industry. These guidelines require local crypto platforms to keep company and customer assets…

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Taiwan and El Salvador

Taiwan and El Salvador Join Forces on Crypto Regulation

The cryptocurrency group in Taiwan has asked El Salvador for help in making better rules for cryptocurrencies. The Taiwan Crypto Association talked to officials in El Salvador, like the Virtual Assets Bureau, Presidential Office, and central bank. They asked for help in making better rules for cryptocurrencies. Right now, Taiwan’s rules don’t allow trading cryptocurrency…

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Malta

Malta Adjusting Crypto Regulations in Response to MiCA Changes

Malta’s Financial Services Authority (MFSA) wants to update its rules for cryptocurrencies to match the European Union’s Markets in Crypto Assets (MiCA) regulation. The MFSA will ask the public for their opinions on the proposed changes to the rules that govern cryptocurrency companies. Right now, the MFSA is rewriting the rules for cryptocurrency exchanges, custodians…

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New York State Department of Financial Services NYDFS

NYDFS Proposes Crypto Listing and Delisting Framework – WSJ

NYDFS plans to introduce a framework to enhance transparency in cryptocurrency-related actions, such as adding or removing cryptocurrencies from exchanges. The New York State Department of Financial Services (NYDFS) has strict rules for crypto companies in the state. They are now planning to introduce a framework to make cryptocurrency activities, like adding or removing cryptocurrencies…

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