Search Results for "Legal"
FTX's Restructuring Plan: Aiming for Full Customer Repayment Without Relaunching Exchange
FTX aims to fully reimburse its customers and creditors as part of its restructuring plan. This approach, focusing on repayment without relaunching the exchange, is based on valuations of assets as of November 2022, drawing mixed reactions from the crypto community.
Jump Crypto Enters Confidential Phase in SEC vs. Terraform Labs Case
Jump Crypto has been granted access to confidential documents in the SEC vs. Terraform Labs case, allegedly implicating them in the TerraUSD devaluation and Terra's collapse.
Two US Nationals Charged With SIM-Swap Cryptocurrency Theft
Federal prosecutors have charged two US citizens with a SIM swap and phishing scam that led to a theft of over $16,000 worth of cryptocurrency.
US SEC Charges “Bitcoiin2Gen” Executives with Defrauding Investors In $11.4 Million Crypto Scheme
Bitcoiin2Gen executives have been charged by the US SEC for allegedly securing millions from investors based on a crypto ICO scam shilled by Steven Seagal.
Ex-CEO of Investment Firm Pleads Guilty to Cryptocurrency Fraud Scheme
Peter Kambolin, the ex-CEO of Systematic Alpha Management, pleaded guilty to a conspiracy to commit commodities fraud involving cryptocurrency futures contracts, as revealed by the DOJ on October 12, 2023. The case, marking a milestone as the first of its kind, unveils a "cherry-picking" scheme where Kambolin misallocated profitable trades to his accounts, misrepresenting trading focuses to investors. With legal proceedings underway, Kambolin faces up to five years in prison, showcasing the authorities' resolve against financial fraud in the crypto sector.
Cuba's Central Bank Moves to Legalize Use of Cryptocurrencies
The Central Bank of Cuba has recently announced that it will legalize and regulate cryptocurrencies. Cuba has been rising interest in cryptocurrencies like Bitcoin partly under toughened American embargo rules on the nation.
SEC Agrees to Delay Terraform Labs Trial, Awaiting Do Kwon's Extradition
The SEC has postponed the trial of Terraform Labs and Do Kwon, pending Kwon's extradition to the US, for a $40 billion cryptocurrency fraud.
IMF Warns Countries against Adopting Cryptocurrency as Money
The global regulator has renewed its warning against the use of Bitcoin as legal tender.
El Salvador Seeks To Be The First Country To Legalize Bitcoin as Legal Tender
El Salvador President Nayib Bukele intends to introduce a bill that would make Bitcoin legal tender.
SEC's Upcoming Decision on Bitcoin ETFs and the Implications
The SEC's anticipated decision on Bitcoin ETFs, expected by January 2024, could significantly boost U.S. crypto adoption, balancing financial institutions' interests and legal challenges.
Coinbase vs SEC: Legal Battle Heats Up
The US Court of Appeals has ordered the SEC to respond to Coinbase’s writ of mandamus within 10 days. The largest US cryptocurrency exchange filed a lawsuit in April requesting regulatory clarity, but has faced increased enforcement and warnings from the SEC, leading to a downgraded rating by Citigroup.
US States Challenge CBDC as Legal Tender
Four U.S. states - Utah, South Carolina, South Dakota, and Tennessee - have filed bills to exclude Central Bank Digital Currencies (CBDCs) from their legal definitions of money, reflecting rising state-level resistance and concerns over privacy and federal overreach.
