Government policy, laws and regulation shaping digital assets and the future of money.
On April 25, 2024, Consensys, the company that created the popular MetaMask wallet, took the United States Securities and Exchange Commission (SEC) to court. This case represents a turning point in the ongoing discussion about how to regulate the Ethereum blockchain, the second-biggest platform of its sort in the world. Consensys Takes a Stand and … Read more
The company that created the popular decentralized cryptocurrency exchange Uniswap, Uniswap Labs, was notified by Wells on April 10. The United States Securities and Exchange Commission (SEC) is acting as a prelude to a possible enforcement action against the corporation with this notice. The platform’s investor services and marketing tactics are allegedly at the heart … Read more
According to reports, the U.S. Securities and Exchange Commission (SEC) intends to punish the discredited founder of the Terra ecosystem billions of dollars. As per a recent Bloomberg article, the regulatory body is pursuing Kwon and Terraform Labs, who were found guilty of fraud during a trial earlier this month, opening the door for the … Read more
The Blockchain Association and the Crypto Freedom Alliance (CFAT) of Texas, two well-known organizations in the cryptocurrency space, have sued the US Securities and Exchange Commission (SEC) to challenge a recently enacted rule that broadens the definition of a “dealer” in securities. The SEC allegedly went beyond its jurisdiction and adopted an arbitrary and capricious … Read more
A class action complaint against Binance, alleging the cryptocurrency exchange is selling unregistered crypto derivative products and breaking securities legislation, has been approved by Ontario’s higher court. Christopher Lochan and Jeremy Leeder filed the case, alleging that Binance offered goods derived from cryptocurrency to thousands of retail traders without complying with legal requirements to register … Read more
Due to the clarity provided by the EU’s implementation of the Markets in Crypto-Assets (MiCA) laws, several of the biggest banks in the EU are considering entering the cryptocurrency space. The deputy CEO of Bitpanda, Lukas Enzersdorfer-Konrad, stated as follows: “European banks are embracing tokenization technology and cryptocurrencies as an asset class because MiCA, the … Read more
The San Francisco-headquartered business Ripple has submitted its protest to the U.S. The remedy motion made by the Securities and Exchange Commission. In the Ripple case, the SEC asked for disgorgement of earnings, civil fines, and injunctive relief last month. The troubled business, which gained notoriety for its connection to the cryptocurrency XRP, may have … Read more
According to Reuters, PDVSA is attempting to increase the amount of USDT it uses as a hedge against having its foreign bank accounts seized. The biggest stablecoin based on the US dollar is called Tether. According to Reuters, PDVSA obfuscates the on-chain trace by exchanging cryptocurrency through middlemen. As a means of avoiding the dollar, … Read more
The bail request of Tigran Gambaryan, the CEO of Binance who is now being jailed at the Kuje detention center, was delayed by a Nigerian court. The commissioner for the economy and financial crimes filed an application with Justice Emeka Nwite, the head of the Federal High Court in Abuja, requesting an extension of time … Read more
In the face of increased regulatory scrutiny, Tether, the company behind the stablecoin USDT, said that it had diversified into four new business areas. In order to extend the company’s reach beyond its stablecoin roots and provide a broader range of services, the expansion introduces four initiatives, which are broken down into the data, finance, … Read more