Regulation

Grayscale Investments CEO, Michael Sonnenshein, highlighted a potential negative outcome for the United States economy if the Securities and Exchange Commission (SEC) continues to take a one-by-one approach to regulating the cryptocurrency industry. During a recent interview with Fox Business, Sonnenshein expressed that the SEC could drive crypto firms out of the country by constantly

A group of six legal scholars specializing in securities law and related domains have submitted an amicus brief in favor of crypto exchange Coinbase in its legal battle against the U.S. Securities and Exchange Commission (SEC). An amicus brief is a legal instrument submitted to the court which originates from a party not directly engaged

Top Stories This Week Judge revokes Sam Bankman-Fried’s bail, remands him to custody FTX’s former CEO, Sam “SBF” Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Fried’s

Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning cryptocurrencies and precious metals trading. Rene Larralde from Melbourne, Florida, Juan Pablo Valcarce from West Melbourne, Florida, Brian Early from New Orleans, Louisiana and Alisha Ann Kingrey from Franklin,

Crypto-friendly Senator Cynthia Lummis has filed an Amicus Brief supporting Coinbase’s motion to dismiss the U.S. Securities and Exchange Commission’s lawsuit against the firm. An Amicus Brief is a document filed in court by a party that is not directly involved with the related case. They are generally used to add supporting arguments to one

A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt of court and imposed sanctions. In an Aug. 11 filing with the United States Bankruptcy Court for the Southern District of New York, Judge Martin Glenn said

The United States Securities and Exchange Commission (SEC) has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund proposed by ARK Investment Management. In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the

The United States Securities and Exchange Commission (SEC) has announced an agreement with crypto trading platform Bittrex and co-founder and former CEO William Shihara for operating an unregistered exchange. In an Aug. 10 notice, the SEC said Bittrex and Bittrex Global agreed to pay $14.4 million in disgorgement, $4 million in prejudgment interest, and $5.6

Authorities in Argentina have become the latest government officials to probe cryptocurrency project Worldcoin over privacy concerns. In an Aug. 8 announcement, Argentina’s Agency for Access to Public Information (AAIP) said it was investigating Worldcoin over its collection, storage and use of customer data to ensure it complies with security and privacy regulations. Worldcoin (WLD)

The emergence of high-level artificial intelligence (AI) technology has caused the United States and China to safeguard their resources in a race to develop the most powerful systems. A tense relationship is developing between the two world powers, as the Biden Administration announced it would limit Chinese tech investments in semiconductors, quantum computing and AI. This

The judge overseeing the civil case of the United States Securities and Exchange Commission (SEC) against Ripple Labs plans to schedule a jury trial starting in the second quarter of 2024. In an Aug. 9 filing in U.S. District Court for the Southern District of New York, Judge Analisa Torres said the court would be

The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate

Despite promises of “decentralization” and “trustless ownership,” the vast majority of crypto games today are, at best, partially decentralized. Web3 is the branding, but in reality, most are “Web2+.” Game assets live on-chain, yet the game logic, state and storage remain off-chain on centralized servers. Why? Simply put, it’s not easy to build a fully

FTX’s former primary counsel Fenwick & West LLP has been hit with a class action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud. An Aug. 7 filing by a group of FTX customers in a California District Court alleged the law firm set up several “shadowy entities” allowing FTX co-founder Sam Bankman-Fried

Ryan Salame, the former co-CEO of FTX Digital Markets, is reportedly discussing a guilty plea with authorities in the United States. According to an Aug. 8 Bloomberg report, lawyers for Salame could enter a guilty plea as early as September, in advance of former FTX CEO Sam Bankman-Fried’s criminal trial, scheduled to start on Oct.

Normally, the numerous reports published by the Financial Stability Board (FSB) don’t contain particularly bold suggestions.  The international monitoring body, comprised of financial authority representatives from the 20 largest economies of the world (G-20), the FSB limits its scope to risk analysis, not bothering itself with a global vision for economic development. However, the latest

Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank — the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) from MAS on Aug. 1 allowing it to provide what the regulator calls digital payment token services to institutional and accredited investors. The exchange’s

FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan.  FTX’s Official Committee of Unsecured Creditors (UCC) said despite its

The lower house of India’s parliament voted in approval of a bill that will ease data compliance regulations for Big Tech companies, according to a report from Bloomberg.  On Aug. 7, the legislation that was approved by the house will ease storage, processing and transfer standards for major global tech companies like Google, Meta and

CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC).  The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL)