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Coinbase Welcomes New Chief Legal Officer from Facebook's Legal Team: Introducing Paul Grewal
legal

Coinbase Welcomes New Chief Legal Officer from Facebook's Legal Team: Introducing Paul Grewal

Coinbase proudly announced in a July 8 blog post that a new addition will be made to the crypto exchange’s legal team. Paul Grewal, a former US magistrate judge in California and Deputy General Counsel for Facebook, will be joining the ranks of the digital currency exchange.

Ripple Fires Back at SEC over Its Legal Complaint of XRP as Pretrial Looms
legal

Ripple Fires Back at SEC over Its Legal Complaint of XRP as Pretrial Looms

Ripple has fought back against the Securities and Exchange Commission (SEC)’s legal complaint against XRP, hinting that the agency was overreaching.

China’s Central Bank Accelerates R&D of its Legal Digital Currency
legal

China’s Central Bank Accelerates R&D of its Legal Digital Currency

People's Bank of China, the Central Bank of China made an announcement of the acceleration of the development of its legal digital currency.

Washington DC Lawyers Can Now Accept Cryptocurrency Payments for Legal Services
legal

Washington DC Lawyers Can Now Accept Cryptocurrency Payments for Legal Services

Lawyers working within the metropolitan area of Washington DC can now accept cryptocurrency payments for legal services so long as the fee agreement is reasonable and fair, and the lawyer is able to safeguard their digital assets, the District of Columbia Bar stated in an ethics opinion.

HSBC Chief Legal Officer Stuart Levey Gets Appointed as Libra’s New CEO, Expert in Dealing with Regulatory Backlash
legal

HSBC Chief Legal Officer Stuart Levey Gets Appointed as Libra’s New CEO, Expert in Dealing with Regulatory Backlash

The Libra Association appointed its first CEO, Stuart Levey, the Chief Legal Officer at HSBC Holdings. Levey will be overseeing the Libra digital currency and payments system and holds a strong compliance track record and is expected to join Libra in the coming months. However, HSBC has not shown the same upright compliance record. Levey is also expected to “combine technology innovation with robust compliance and regulatory framework.” The Facebook-led project has invited scrutiny from global regulators, with concerns over its threat to national sovereignty with its potential launch. Many of Libra’s original members, including Vodafone, PayPal, and Visa have also chosen to leave the association.

IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work
legal

IMF Believes Central Banks Need Strong Legal Frameworks for CBDCs to Work

The issuance of CBDCs by apex global banks has become a hot topic in the crypto space, and the IMF has delved into it with some precautionary measures.

Binance Enables Support for Naira, But is Cryptocurrency Legal in Yet in Nigeria?
legal

Binance Enables Support for Naira, But is Cryptocurrency Legal in Yet in Nigeria?

Binance, one of the top cryptocurrency exchange has opened support for the Nigerian National currency (Naira) on its trading platform.

Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges
legal

Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges

The Kin Foundation has disclosed that both itself and the cryptocurrency has survived the dispute with the US SEC.

Libra Association Appoints Former Homeland Security General Counsel to Head Its Legal Services
legal

Libra Association Appoints Former Homeland Security General Counsel to Head Its Legal Services

Libra appoints Stevan Bunnell, former Homeland security department general counsel, as its own general counsel.

Indian Crypto Exchanges Seek Clarity on Legal Status and Taxability from the Reserve Bank of India
legal

Indian Crypto Exchanges Seek Clarity on Legal Status and Taxability from the Reserve Bank of India

Crypto exchanges and companies in India are still seeking regulatory clarity and tax status from the Reserve Bank of India following a Supreme Court ruling in favor of the crypto industry earlier this year. India’s Supreme Court reversed the ban placed by the central bank on financial institutions offering crypto-related banking services. It is two months after lifting the ban, crypto exchanges and firms are now seeking clarification regarding the nature of their operations.

Israeli Securities Regulator Seeks Crypto Legal Framework
legal

Israeli Securities Regulator Seeks Crypto Legal Framework

ISA proposes digital asset regulation. Over 150 firms operate in Israel, and more investors are exposed to digital assets. Over the years, the authority has formed many committees to control cryptocurrency supply and encourage digital markets. It also requires digital asset issuers to publish a prospectus-like document before issuance or trade. After Israel's top economist urged for a more comprehensive regulatory framework to align trading platforms and crypto issuers.

FTX Seeks Court Approval to Sell $175M Genesis Claim Amid Bankruptcy Proceedings
legal

FTX Seeks Court Approval to Sell $175M Genesis Claim Amid Bankruptcy Proceedings

FTX has filed a motion in Delaware court to sell a $175 million claim against bankrupt Genesis Global Capital, aiming to optimize returns from the sale. The move is part of FTX's broader strategy to manage its financial recovery post-collapse, with the proposed sales procedure designed to ensure maximum value from the claim amidst Genesis's ongoing legal and financial challenges.

FTX Bankruptcy Legal Costs Hit $118.1 Million in Three Months
legal

FTX Bankruptcy Legal Costs Hit $118.1 Million in Three Months

FTX's bankruptcy lawyers and advisers earned an average of $118.1M in fees between August and October, with Alvarez and Marshall leading the charges.

Equating Cryptocurrency Solely with Illegal Conduct Lacks Understanding
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Equating Cryptocurrency Solely with Illegal Conduct Lacks Understanding

Cryptocurrency has its benefits, but several consumers are still unaware of what they are because of security concerns and how the technology functions. In a recent interview, Coleman Watson – Managing partner Watson LLP – identified that while many people are interested in using cryptocurrency, lack of understanding remains a major hurdle.

Genesis Agrees to $21 Million SEC Settlement in Bankruptcy Resolution Effort
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Genesis Agrees to $21 Million SEC Settlement in Bankruptcy Resolution Effort

Genesis Global settles with the SEC for $21 million over unregistered securities sales allegations, aiming to mitigate legal challenges and focus on repaying customers amid bankruptcy proceedings. The agreement, pending a February 14 hearing, marks a significant step towards resolving the company's financial and legal hurdles.

SEC's XRP and Grayscale Bitcoin ETF Cases Challenged by US House Majority Whip Tom Emme
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SEC's XRP and Grayscale Bitcoin ETF Cases Challenged by US House Majority Whip Tom Emme

House Majority Whip Tom Emmer criticizes the US Securities and Exchange Commission's (SEC) approach to cryptocurrency regulation, citing legal losses against Ripple and Grayscale. Emmer questions the agency's treatment of Bitcoin futures ETFs and spot ETFs, adding to ongoing debate.

Crypto Regulatory Developments: Congressional Review Act, DOJ Charges, and More
legal

Crypto Regulatory Developments: Congressional Review Act, DOJ Charges, and More

A summary of recent regulatory actions and legal developments impacting the global crypto industry, for the period May 5 – May 20, 2024.

HK SFC: Sentencing Adjourned in Market Manipulation Case
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HK SFC: Sentencing Adjourned in Market Manipulation Case

Sentencing in a significant market manipulation case has been postponed, according to the Securities and Futures Commission.

WordSmith Enhances Legal AI Operations with LangSmith Integration
legal

WordSmith Enhances Legal AI Operations with LangSmith Integration

WordSmith leverages LangSmith for prototyping, debugging, and evaluating LLM performance, enhancing operations for in-house legal teams.

Tse Tsun Wai Convicted and Fined for Unlicensed Activity
legal

Tse Tsun Wai Convicted and Fined for Unlicensed Activity

Tse Tsun Wai has been convicted and fined for engaging in unlicensed financial activities, according to the Securities and Futures Commission.

Is Bitcoin in India about to Boom? Paxful Survey Projection
legal

Is Bitcoin in India about to Boom? Paxful Survey Projection

Paxful, the peer-to-peer bitcoin marketplace, has released a survey that indicates India’s enthusiasm for Bitcoin has been reignited following the landmark decision to lift the ban on crypto trading.

DFA Bill Passed, But Central Bank of Russia Still Thinks Cryptos Are Criminal
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DFA Bill Passed, But Central Bank of Russia Still Thinks Cryptos Are Criminal

Despite the Digital Financial Assets bill being passed by the State Duma, Russia’s Central Bank has nevertheless argued that crypto transactions are not deemed as legitimate investments.

More than 75% Salvadoran Distrust in Bitcoin as Fiat Money, Poll suggests
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More than 75% Salvadoran Distrust in Bitcoin as Fiat Money, Poll suggests

A poll shows that more than three-quarters of Salvadorans are sceptical towards the implementation of Bitcoin across the country, according to Reuters, citing a survey released Thursday.

CFTC Charges Four Individuals Behind Alleged Bitcoin Fraud Scheme "Global Trading Club"
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CFTC Charges Four Individuals Behind Alleged Bitcoin Fraud Scheme "Global Trading Club"

The Commodity Futures Trading Commission has charged four people for allegedly soliciting funds from clients to speculate in Bitcoin price movements.

Yuga Labs Legal Battle Escalates as Defendants Allegedly Thwart Court Orders
legal

Yuga Labs Legal Battle Escalates as Defendants Allegedly Thwart Court Orders

Yuga Labs' lawsuit sees non-compliance accusations against defendants, potentially impacting the NFT and cryptocurrency landscape.

Paraguay Introduces Bill to Make Bitcoin Legal Tender
legal

Paraguay Introduces Bill to Make Bitcoin Legal Tender

Paraguay lawmaker has tabled a motion in pursuing Bitcoin as legal tender, hoping that the country will become another country to use cryptocurrency after El Salvador.

Terra co-founder indicted for forging legal documents
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Terra co-founder indicted for forging legal documents

The Prosecutor’s Office of the State of Podgorica has indicted former Terraform Labs co-founder Do Kwon for allegedly forging legal documents. Kwon was arrested in March after allegedly attempting to board a flight to Dubai with fake documents. Han Chang-jun, Terraform’s former CFO, is facing similar charges.

Zimbabwe’s Government Consulting Private Sector on Adopting Crypto as Legal Tender
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Zimbabwe’s Government Consulting Private Sector on Adopting Crypto as Legal Tender

A key government official has revealed that Zimbabwe is considering legalizing cryptocurrency as a payment service.

Coinbase CLO Responds to SEC's Opposition
legal

Coinbase CLO Responds to SEC's Opposition

Coinbase's Chief Legal Officer, Paul Grewal, responded to the SEC's opposition to the company's motion to dismiss the case against it. Grewal criticized the SEC for making unsupported legal claims and emphasized that the assets listed on Coinbase are not securities. He also called for regulation that listens to the crypto community and mentioned that Coinbase will file its reply on October 24, 2023.

El Salvador Lawmakers Passes $150M Bitcoin Trust Fund into Law
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El Salvador Lawmakers Passes $150M Bitcoin Trust Fund into Law

El Salvador parliament has passed the Bitcoin Trust Fund proposal into law.

Japan Accelerates Digital Yen Plans Amidst Global CBDC Race
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Japan Accelerates Digital Yen Plans Amidst Global CBDC Race

Japan is advancing its plans for a digital yen, with the Bank of Japan set to pilot a CBDC program and the finance ministry preparing an expert panel to address legalities, signaling a significant shift in Japan's traditional cash-centric economy.

Former OpenSea Staff Asks Court to Withdraw Insider Trading Charges
legal

Former OpenSea Staff Asks Court to Withdraw Insider Trading Charges

Following the indictment of Nathaniel Chastain, a former Head of Product at the NFT marketplace OpenSea, a new petition has now been filed by his lawyers, requesting the court to dismiss the case as it lacks merit.

WhaleFin is being sued by Atletico Madrid for unpaid sponsorship
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WhaleFin is being sued by Atletico Madrid for unpaid sponsorship

Atletico Madrid is suing WhaleFin for €20 million over a terminated €40 million sponsorship deal, claiming financial losses and potential reputational damage.

Finland Tracks Monero in High-Profile Cybercrime Cas
legal

Finland Tracks Monero in High-Profile Cybercrime Cas

Finnish authorities traced Monero transactions in the Julius Aleksanteri Kivimäki trial, highlighting challenges in tracking privacy-focused digital currencies, a significant development in cryptocurrency-related cybercrime investigations.

Bitcoin will Reach $100K in 2022: Nayib Bukele Predicts
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Bitcoin will Reach $100K in 2022: Nayib Bukele Predicts

El Salvador President Nayib Bukele released on his official Twitter on January 2 his bullish forecasts for bitcoin in 2022. Among them, Nayib Bukele believes that the bitcoin price will reach a high of $100k in 2022.

Chinese Police Discover Illegal Bitcoin Mining Activity in Mysterious Graves
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Chinese Police Discover Illegal Bitcoin Mining Activity in Mysterious Graves

Police in China recently discovered illegal Bitcoin mining, which was buried underneath a local cemetery. Power losses within the area caused the initial suspicion. A Chinese oil field company submitted a tip to the local police requesting them to investigate suspicious power losses in the northern city of Daqing, Heilongjiang province. The police officers arrived at the scene and spotted mysterious two grave mounds lying in the field.

Ripple's CEO Discloses to Spend over $100m Fighting Legal Battle with SEC
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Ripple's CEO Discloses to Spend over $100m Fighting Legal Battle with SEC

Brad Garlinghouse, Ripple's CEO, has disclosed that the company will need to spend over $100 million on lawsuits with the US Securities and Exchange Commission (SEC) for regulation issues.

Andorra to Ratify Digital Assets Adoption with Crypto Law
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Andorra to Ratify Digital Assets Adoption with Crypto Law

Andorra, or 'the Principality of Andorra', is contemplating regulations of digital assets and other blockchain technologies. Its parliament is debating on relative amendments before turning them into a draft.

South Koreans transacted $4.3 billion through illegal crypto exchanges
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South Koreans transacted $4.3 billion through illegal crypto exchanges

In 2022, South Koreans transacted $4.3 billion through illegal crypto exchanges, comprising almost 70% of all illicit money traffic captured by officers. The transactions aimed to purchase foreign virtual assets to sell in the country later due to the South Korean regulatory regime isolating the local market.

El Salvador Standing by to Rollout 200 ATMs for Converting Bitcoin to Cash
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El Salvador Standing by to Rollout 200 ATMs for Converting Bitcoin to Cash

El Salvador is preparing to launch the initial 200 ATMs that will enable conversion of Bitcoin to cash. President Bukele said that the use of Bitcoin will not be mandatory.

Bankruptcy of FTX Incurs Over $200 Million in Legal Fees
legal

Bankruptcy of FTX Incurs Over $200 Million in Legal Fees

An independent auditor has examined the legal fees incurred during the initial months of FTX's bankruptcy, revealing a staggering amount exceeding $200 million. The auditor justifies these significant fees, considering the monumental nature of the task at hand.

Heather Morgan of Bitfinex Crypto Heist Cleared to Seek Proper Employment
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Heather Morgan of Bitfinex Crypto Heist Cleared to Seek Proper Employment

American rapper and entrepreneur Heather Morgan, the defendant in the crypto fraud case of Bitfinex 2016, has been permitted by a judge to seek proper employment.

US Travel Firm CWT Paid $4.5 Million in Bitcoin to Get Computer System Back from Hackers
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US Travel Firm CWT Paid $4.5 Million in Bitcoin to Get Computer System Back from Hackers

US travel management company CWT paid $4.5 million to hackers who stole sensitive corporate files. CWT has a global clientele and is the fifth-largest US travel company. The firm boasts an estimate of $1.5 billion in annual revenue and claims that it represents more than a third of companies on the S&P 500 U.S stock index.

Colombia Holds Landmark Virtual Court Trial in Metaverse
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Colombia Holds Landmark Virtual Court Trial in Metaverse

Colombia's Magdalena Administrative Court conducted a trial in the metaverse on February 15, with participants appearing as avatars in a virtual courtroom. The trial involved a traffic dispute brought by a regional transport union against the police and lasted two hours. The verdict could also be given in the metaverse. Colombia is one of the first countries to test legal proceedings in the metaverse.

Wintermute Accuses Near Foundation and Aurora Labs of Failing to Honor USN Redemptions
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Wintermute Accuses Near Foundation and Aurora Labs of Failing to Honor USN Redemptions

Wintermute criticizes Near Foundation and Aurora Labs for failing to fulfill USN redemption commitments, resulting in significant unredeemed funds. Seeking legal recourse and remaining adversarial if resolutions fail.

Ripple on the Brink of Decisive Win as SEC Legal Battle Nears End
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Ripple on the Brink of Decisive Win as SEC Legal Battle Nears End

Ripple is expected to win a legal battle with the SEC, potentially settling $20 million or less. This victory is expected due to legal perspectives and the recent Second Circuit Court ruling, impacting digital currency regulation.

Dark Web Sucks in Bitcoin Payments From Viewers Paying to See Livestream Murder
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Dark Web Sucks in Bitcoin Payments From Viewers Paying to See Livestream Murder

Two 17-year-old Italians have been detained under the Delirium operation for instigating child pornography and live torture viewings on the dark web. The two Italians paid Bitcoin (BTC) to a dark site address in order to unlock explicit footage of children being sexually abused.

US District Judge Rules in Favor of Custodial Arrangement for bZx DAO Members
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US District Judge Rules in Favor of Custodial Arrangement for bZx DAO Members

A US district judge has ruled that bZx DAO transactions are custodial due to the ability for developers to upgrade a smart contract where the key is held by a single developer, as highlighted in a class-action lawsuit against bZx DAO and others. This may impact DeFi platforms that use multisigs and require them to obtain custody licenses to comply with the law.

Legal Team Requests Temporary Release of Samuel Bankman-Fried for Upcoming Trial
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Legal Team Requests Temporary Release of Samuel Bankman-Fried for Upcoming Trial

Samuel Bankman-Fried's legal team has formally requested his temporary release for the upcoming trial, citing the need for adequate preparation due to the case's complexity. The letter outlines stringent conditions for the release and also raises concerns about Bankman-Fried's medication.

Tornado Cash's Alex Pertsev to Remain in Custody as Appeal Was Rejected
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Tornado Cash's Alex Pertsev to Remain in Custody as Appeal Was Rejected

Legal authorities in the Netherlands have rejected the appeal to release Alexei Pertsev, the chief developer of the Tornado Cash protocol was arrested and remanded by Dutch Authorities shortly after the United States Treasury Department sanctioned the protocol

Crypto.com's $10.5 Million Mistake Leads to Legal Fallout for Australian Couple
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Crypto.com's $10.5 Million Mistake Leads to Legal Fallout for Australian Couple

A Melbourne couple faces legal repercussions after Crypto.com mistakenly transferred $10.5 million AUD to their bank account. Thevamanogari Manivel and her partner, Jatinder Singh, allegedly spent the funds on property and other assets. Manivel has been sentenced to an 18-month community corrections order, while Singh is set to face a plea trial on October 23, 2023.

The IMF Urges El Salvador to Abandon Bitcoin as Legal Tender
legal

The IMF Urges El Salvador to Abandon Bitcoin as Legal Tender

The International Monetary Fund (IMF) is concerned about the risks of El Salvador's issuance of bitcoin-backed bonds, urging El Salvador to terminate bitcoin as legal tender as soon as possible.

Qatar Issues Crypto Ban, Digital Securities Still Allowed to Roam
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Qatar Issues Crypto Ban, Digital Securities Still Allowed to Roam

Qatar’s regulator has blocked all crypto asset services in the nation. The Qatar Financial Centre Authority (QFC) mentioned in a statement that all “Virtual Asset Services may not be conducted in or from the QFC at this time.”

Celsius Crypto Lender's Bankruptcy: Large Withdrawals Clawbacks
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Celsius Crypto Lender's Bankruptcy: Large Withdrawals Clawbacks

Celsius Network is imposing bankruptcy proceedings on account holders with $100,000 or more liabilities, and is taking legal action against those who withdrew large amounts pre-bankruptcy.

Celsius Network Charged Over $3M in Legal Fees
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Celsius Network Charged Over $3M in Legal Fees

Beleaguered crypto lending platform Celsius Network has incurred more than $3 million in legal fees, according to a filing.

Coinbase Facing SEC Probe over Crypto Listing: Sources
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Coinbase Facing SEC Probe over Crypto Listing: Sources

Coinbase is reportedly facing a probe from the US SEC into whether it improperly let Americans trade digital assets that should have been registered as securities.

To Criminalize or Not to Criminalize Bitcoin and Crypto? Moscow Reconsiders
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To Criminalize or Not to Criminalize Bitcoin and Crypto? Moscow Reconsiders

The State Duma is discussing its legislative plans regarding Bitcoin and cryptocurrency usage and has been reported to seemingly have a change of heart regarding digital assets adoption in Russia.

Dismissal of Lawsuit Against Tether and Bitfinex Affirmed, Plaintiff Drops Appeal
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Dismissal of Lawsuit Against Tether and Bitfinex Affirmed, Plaintiff Drops Appeal

Tether and Bitfinex have won a lawsuit against Shawn Dolifka and Matthew Anderson, despite allegations of misleading statements about USDT reserves, underscoring the importance of transparency in the cryptocurrency sector.

FTX Sam Bankman-Fried Avoids Second Trial
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FTX Sam Bankman-Fried Avoids Second Trial

Sam Bankman-Fried, convicted of fraud and money laundering in the FTX collapse, will not face a second trial, accelerating the case's resolution and victim compensation.

SEC Files Motion Against Terraform Labs and Luna Founder Do Hyeong Kwon
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SEC Files Motion Against Terraform Labs and Luna Founder Do Hyeong Kwon

The SEC has filed a motion in the United States District Court for the Southern District of New York against Terraform Labs and Do Hyeong Kwon. The commission is seeking the court's permission to notice a deposition from Kwon or to preclude the defendants from using a declaration from him. The defendants have until September 26, 2023, at 12:00 pm to respond.

China’s Supreme Court Decides to Strengthen the Protection of Cryptocurrency Property Rights
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China’s Supreme Court Decides to Strengthen the Protection of Cryptocurrency Property Rights

The Chinese Supreme Court has decided to strengthen cryptocurrency property rights. China’s Supreme Court is looking to further protect property rights, including economic property rights through different ownership systems in accordance with the law.

Social Media Site X Limits Changpeng Zhao's Account Access
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Social Media Site X Limits Changpeng Zhao's Account Access

Changpeng Zhao, former Binance CEO, faced account restriction on social media platform X amidst legal challenges, leading to widespread speculation in the crypto industry.

The Rescheduling of Changpeng 'CZ' Zhao's Sentencing Reflects Legal Complexities and Implications
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The Rescheduling of Changpeng 'CZ' Zhao's Sentencing Reflects Legal Complexities and Implications

Changpeng "CZ" Zhao, founder of Binance, faces a legal hurdle as his money laundering charges are postponed to April 30. The case highlights the ongoing struggle between cryptocurrency entities and regulatory bodies, raising questions about digital asset future.

Former Bithumb Chairman Lee Jeong-hoon Faces 8-Year Prison Sentence in Appeal
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Former Bithumb Chairman Lee Jeong-hoon Faces 8-Year Prison Sentence in Appeal

Former Bithumb Chairman Lee Jeong-hoon faces fraud charges over botched deal with BK Group Chairman Kim Byung-gun, awaiting an 8-year sentence, impacting governance and crypto industry regulatory landscape.

CFTC's Stern Warning to Crypto Exchanges Following Binance Case
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CFTC's Stern Warning to Crypto Exchanges Following Binance Case

The CFTC has significantly heightened its regulatory actions against non-U.S. crypto entities, indicating a significant shift in the U.S. cryptocurrency market's regulatory landscape.

Gala Games Assures 'Business as Usual' Despite Founders' Legal Battle
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Gala Games Assures 'Business as Usual' Despite Founders' Legal Battle

Gala Games co-founder Eric Schiermeyer has filed a derivative shareholder lawsuit against co-founder Wright Thurston and True North United Investments, LLC. The company assures transparency and accountability, stating the disputes are primarily between the founders and not involving the company.

Binance.US To Delist AMP following SEC’s Claim Token as Security
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Binance.US To Delist AMP following SEC’s Claim Token as Security

Binance.US has announced that it will delist AMP following last week’s news that the SEC mentioned the token as a security.

El Salvador Tourism Sector Surges 30%, Benefit from Adopting Bitcoin as Legal Tender
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El Salvador Tourism Sector Surges 30%, Benefit from Adopting Bitcoin as Legal Tender

El Salvador is leaping the dividends of making Bitcoin legal tender. The nation’s tourism industry has recorded a 30% surge since this milestone was attained in September 2021.

Legal Battle Intensifies as Bankman-Fried's Parents Counter FTX's Allegations
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Legal Battle Intensifies as Bankman-Fried's Parents Counter FTX's Allegations

Stanford Law professors Bankman and Fried are attempting to dismiss a lawsuit filed by FTX, alleging misappropriation of funds and knowledge of FTX's collapse.

US DOJ Launches National Crypto Enforcement Team
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US DOJ Launches National Crypto Enforcement Team

The US DOJ has unveiled establishing a National Cryptocurrency Enforcement Team (NCET), a law enforcement task force fighting crypto crime.

Coinbase Rolls Out AI-Driven ERC-20 Scam Token Detection System
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Coinbase Rolls Out AI-Driven ERC-20 Scam Token Detection System

Chief Legal Officer Paul Grewal unveils Coinbase's ERC-20 Scam Token Detection System, combining smart contract auditing with machine learning to tackle crypto scams. Disclosed on October 6, 2023, this initiative enhances security and trust in token listings on the platform.

News Industry Grapples with Financial Woes and AI Disruption
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News Industry Grapples with Financial Woes and AI Disruption

The news industry faces declining advertising revenue, declining subscriber growth, and AI-driven disruptions, necessitating strategic shifts and legal disputes to adapt to digital advertising trends.

Misuse of Facial Recognition: The $10M Macy's and Sunglass Hut Legal Battle
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Misuse of Facial Recognition: The $10M Macy's and Sunglass Hut Legal Battle

Harvey Eugene Murphy Jr. sues Macy's and Sunglass Hut for $10 million over wrongful arrest and assault, highlighting flaws in facial recognition technology and its serious consequences.

JPMorgan: El Salvador to Face multiple Obstacles on the way to Implement Bitcoin as Fiat Money
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JPMorgan: El Salvador to Face multiple Obstacles on the way to Implement Bitcoin as Fiat Money

JPMorgan Chase, citing a report, stated that El Salvador’s designation of Bitcoin as legal tender would bring various obstacles to its country, questioning the robustness of the payment mechanism.

SEC and Ripple's Next Meeting for XRP Case Set for May 21
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SEC and Ripple's Next Meeting for XRP Case Set for May 21

The next hearing between the Securities and Exchange Commission (SEC) and Ripple will be held on May 21.

Utah Passes Law Recognizing Decentralized Autonomous Organizations
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Utah Passes Law Recognizing Decentralized Autonomous Organizations

The Utah State Legislature has passed the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to DAOs, also known as "Utah LLDs". The act defines ownership, protects anonymity, and introduces quality assurance protocols.

ChatGPT in Finance: A New Era of Ethical Considerations and Solutions
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ChatGPT in Finance: A New Era of Ethical Considerations and Solutions

ChatGPT is revolutionizing the finance sector, bringing innovative applications and ethical challenges. This article explores its uses, the ethical concerns it raises, and potential solutions for a responsible future in finance.

Canadian Tax Agency Asks Coinsquare Crypto Exchange to Hand Over Clients Personal Data
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Canadian Tax Agency Asks Coinsquare Crypto Exchange to Hand Over Clients Personal Data

The Canada Revenue Agency has requested a judge of the Federal Court to force a crypto exchange to hand over information about all its customers.

Judge Kaplan Denies Bankman-Fried's Request for Sentencing Adjournment
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Judge Kaplan Denies Bankman-Fried's Request for Sentencing Adjournment

Former FTX CEO Sam Bankman-Fried's sentencing hearing, scheduled for March 28, 2024, was postponed by Judge Lewis Kaplan, ensuring the legal process remains on its original timeline.

Voyager Digital Executives Threatened by Clients, Revealed in Bankruptcy Hearing
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Voyager Digital Executives Threatened by Clients, Revealed in Bankruptcy Hearing

Senior executives of crypto broker Voyager Digital and their families were reportedly threatened by their clients, a court in Manhattan revealed.

Bittrex Faces Potential Legal Action from US SEC
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Bittrex Faces Potential Legal Action from US SEC

Bittrex, a US-based cryptocurrency exchange, may face legal action from the US Securities and Exchange Commission (SEC) over alleged violations related to investor protection, despite preparing to shut down its local operations.

Columbia Man Pleads Guilty to Bitcoin Dark Web Chemical Weapon Purchase
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Columbia Man Pleads Guilty to Bitcoin Dark Web Chemical Weapon Purchase

A 45-year-old man from Columbia, Missouri pled guilty yesterday in a US federal court to one count of aggravated identity theft and one count of attempting to acquire a chemical weapon—via the dark web using Bitcoin.

Here's Why Harvey's $80M Funding is a Game Changer in Legal AI
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Here's Why Harvey's $80M Funding is a Game Changer in Legal AI

Harvey raised $715 million in a $80 million Series B funding round, showcasing its advanced AI-powered workflow optimization technology.

Australian regulator sues Finder.com for crypto yield offering
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Australian regulator sues Finder.com for crypto yield offering

Australia's financial services authority is suing Finder.com for selling a bitcoin yield-bearing instrument without a license. Finder disputes ASIC's accusation that a registered exchange product was unlicensed, but it hasn't said whether it would contest the complaint. After Block Earner last November, it's the regulator's second domestic crypto income product supplier. ASIC sued Finder.com for selling three crypto-backed fixed-yield products without an AFS license. The regulator's third action against crypto financial products and businesses in three months. When asked whether it will fight the action, Finder declined to respond.

NAC Foudation Accuses US SEC of Misleading Court in AML BitCoin Case
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NAC Foudation Accuses US SEC of Misleading Court in AML BitCoin Case

The legal battle between The NAC Foundation and the SEC is still far from over, and the Foundation argues that the SEC misled the court in its ongoing case against AML Bitcoin.

Craig S. Wright Explores 'Code is Law' Paradigm in Digital Governance Debate
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Craig S. Wright Explores 'Code is Law' Paradigm in Digital Governance Debate

Dr. Craig Wright's blog post on "Open-Source Development" rekindles debate on "Code is Law" principle, emphasizing the need for a balanced approach balancing code precision with legal considerations.

SEC Accuses Kraken of Operating Without Registration, Alleges Mixing of Funds
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SEC Accuses Kraken of Operating Without Registration, Alleges Mixing of Funds

The SEC has accused Kraken of operating as an unregistered securities exchange, broker, dealer, and clearing agency, accusing it of commingling customer and company funds and deficient internal controls.

US Federal Court Defines Bitcoin As Money
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US Federal Court Defines Bitcoin As Money

A US Federal court has classified Bitcoin as a “money” under the Washington, D.C, Money Transmitters Act (MTA).

India Accuses WazirX of Tax Evasion, Future of Local Crypto Sector Remains Unclear
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India Accuses WazirX of Tax Evasion, Future of Local Crypto Sector Remains Unclear

India’s largest cryptocurrency trading platform, WazirX, has been accused by the country's authorities of tax evasion worth $5.4 million.

Bitcoin and Bad Guys
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Bitcoin and Bad Guys

With Bitcoin a growing number of people have been choosing to opt-out of the traditional financial system, and others have even chosen to use the cryptocurrency to circumvent regulation altogether, leading to its unfortunate connection with illegal activity and shady characters.

FTX's Restructuring Plan: Aiming for Full Customer Repayment Without Relaunching Exchange
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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
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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
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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.

Australian Business Icon Dick Smith Threatens The Guardian With Lawsuit Over Bitcoin Scam Ads
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Australian Business Icon Dick Smith Threatens The Guardian With Lawsuit Over Bitcoin Scam Ads

Australian entrepreneur Dick Smith is threatening The Guardian with legal action after it hosted ads linked to fake news of Smith supporting a Bitcoin and crypto scam.

US SEC Charges “Bitcoiin2Gen” Executives with Defrauding Investors In $11.4 Million Crypto Scheme
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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
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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
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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
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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.

Australian Judge Allows Plaintiff to Use Bitcoin as Collateral Bond
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Australian Judge Allows Plaintiff to Use Bitcoin as Collateral Bond

In Australia, a New South Wales (NSW) court has allowed a cryptocurrency exchange account to be used as a collateral bond for legal costs.

IMF Warns Countries against Adopting Cryptocurrency as Money
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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
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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
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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
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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
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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.

Malaysian Authorities Shut Down Illegal Bitcoin Miners For $600K Power Theft
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Malaysian Authorities Shut Down Illegal Bitcoin Miners For $600K Power Theft

Malaysian police have shut down two illegal Bitcoin mining operations which had been siphoning power continuously for the past three years.

Google Unveils IP Indemnity for Generative AI Users
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Google Unveils IP Indemnity for Generative AI Users

Google Cloud has introduced a two-fold IP indemnity scheme to shield users of its generative AI services from possible legal challenges regarding copyright infringements. This initiative, encompassing both the training data and generated output, reflects a proactive risk mitigation strategy to foster a secure and conducive environment for leveraging generative AI capabilities.

Ripple Labs Breathes Sigh of Relief as Federal Judge Wants XRP Token Holders to Present their Views
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Ripple Labs Breathes Sigh of Relief as Federal Judge Wants XRP Token Holders to Present their Views

US district judge Analisa Torres has finally rejected the SEC’s appeal against letting XRP holders intervene in the ongoing legal case.

Panama Looks to Legalize Bitcoin and Ethereum in Line with El Salvador
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Panama Looks to Legalize Bitcoin and Ethereum in Line with El Salvador

Panama has introduced a crypto bill with the aim to legalize Bitcoin and cryptocurrencies.

India’s Government Plans to Bring Back Law to Ban Cryptocurrencies
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India’s Government Plans to Bring Back Law to Ban Cryptocurrencies

A report revealed that the Finance Ministry is now inviting other ministries to have a discussion of its earlier draft on the crypto ban introduced a year ago.

Ripple CEO Brad Garlinghouse Criticizes Former SEC Chair Jay Clayton's Regulatory Approach
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Ripple CEO Brad Garlinghouse Criticizes Former SEC Chair Jay Clayton's Regulatory Approach

Ripple CEO Brad Garlinghouse criticizes former SEC Chair Jay Clayton for his aggressive regulatory approach, citing hypocrisy based on a 2020 lawsuit against Ripple. The ongoing legal tussle and recent developments highlight the broader regulatory uncertainties in the crypto industry.

US Court Approves Sealed Settlement in BlockFi vs. 3AC Dispute
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US Court Approves Sealed Settlement in BlockFi vs. 3AC Dispute

A US judge approved a confidential settlement between BlockFi and Three Arrows Capital, aiming to resolve financial disputes without further litigation. The details remain sealed to protect sensitive information amidst BlockFi's bankruptcy proceedings and its implications on the broader crypto market.

SEC Scholars Program Opens Applications for Fall 2023 Internship
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SEC Scholars Program Opens Applications for Fall 2023 Internship

The SEC is accepting applications for its Scholars Program for Fall 2023. The program offers internships for undergraduate and graduate students in business and legal programs. The traineeships are paid and range from $15.09 to $35.27 per hour. The SEC encourages students with an interest in blockchain, computer science, and cybersecurity to apply.

Google Sues Unknown Entities for Malware Scheme Disguised as AI Chatbot Bard
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Google Sues Unknown Entities for Malware Scheme Disguised as AI Chatbot Bard

Google is suing individuals for a malware distribution scam involving false AI chatbot ads, aiming to protect users and intellectual property amid growing digital security challenges.

SEC Chair Gensler Open to Lawful Revival of FTX
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SEC Chair Gensler Open to Lawful Revival of FTX

SEC Chair Gary Gensler emphasizes regulatory standards as FTX considers legal and compliant return, following founder Sam Bankman-Fried's conviction, marking a pivotal moment in crypto regulation.

China Identifies Cryptocurrency as a New form for Bribery and Corruption
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China Identifies Cryptocurrency as a New form for Bribery and Corruption

The Chinese Association for the Study of Integrity and Legal Systems warns of new corruption forms in the digital era, recommending strengthened legislation, expanded bribery definitions, and improved digital enforcement infrastructure.

El Salvador Embraces Virtual Currency Era, Nayib Bukele: Just Bought 200 New Bitcoins
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El Salvador Embraces Virtual Currency Era, Nayib Bukele: Just Bought 200 New Bitcoins

Central American nation El Salvador officially adopts Bitcoin as legal tender Tuesday, becoming the first country to embrace Bitcoin as another circulating fiat currency alongside the US dollar.

Robin AI and Harvey's Funding Surge Signals Legal AI Boom
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Robin AI and Harvey's Funding Surge Signals Legal AI Boom

Robin AI and Harvey AI have raised $26M and $80M respectively, indicating a strong growth phase in the legal AI sector.

Binance Faces Lawsuit Over Alleged Support for Hamas in Israel Attack
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Binance Faces Lawsuit Over Alleged Support for Hamas in Israel Attack

Three families of victims from the Hamas attack on Israel have filed a lawsuit against Binance, its former CEO Changpeng Zhao, Iran, and Syria, alleging their support for terrorism. The suit claims these parties provided substantial assistance to Hamas, spotlighting the challenges of regulating cryptocurrency in combating terrorism financing.

El Salvador Airdrops $30 for Bitcoin Handout, BTC Will Become Legal Tender in September
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El Salvador Airdrops $30 for Bitcoin Handout, BTC Will Become Legal Tender in September

El Salvador's President Nayib Bukelet announced that Bitcoin will officially become legal tender on September 7 and will airdrop $30 in Bitcoin to the public.

Ripple Executives Cleared of SEC Charges in Landmark Decision
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Ripple Executives Cleared of SEC Charges in Landmark Decision

In a major development, Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges by the U.S. Securities and Exchange Commission (SEC). This is the third legal victory for the executives and Ripple, leaving the crypto industry questioning the SEC's approach.

Binance Undergoes Leadership Shakeup Amid DOJ Investigation
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Binance Undergoes Leadership Shakeup Amid DOJ Investigation

Binance names Richard Teng as CEO amid Changpeng Zhao's departure due to legal issues, signaling a new leadership era as the company navigates a DOJ probe.

LUNA Do Kwon's Trial Postponement Request Amid Extradition Delays
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LUNA Do Kwon's Trial Postponement Request Amid Extradition Delays

Terraform Labs co-founder Do Kwon requests postponement of his U.S. trial, scheduled for January 29th, to mid-March due to extradition challenges in Montenegro. The SEC filed fraud charges against Kwon in February 2023, related to the collapse of TerraUSD and LUNA tokens.

OpenAI's ChatGPT Under GDPR Investigation in Italy: Facing 30-Day Defense Deadline
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OpenAI's ChatGPT Under GDPR Investigation in Italy: Facing 30-Day Defense Deadline

Italian Data Protection Authority, Garante, has raised concerns over potential GDPR violations by OpenAI's ChatGPT, requiring OpenAI to defend its processing of personal data for 30 days.

How the New Crypto Law in India Could Play Out
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How the New Crypto Law in India Could Play Out

After the celebration seen in India’s Supreme Court as the verdict was given against the Reserve Bank of India (RBI) in its action of restricting financial institutions from providing banking services to cryptocurrency-based businesses, interested parties are wondering how the recent news will play out.

Celsius Network Considers Legal Action Against Crypto Blogger
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Celsius Network Considers Legal Action Against Crypto Blogger

Celsius Network is considering taking legal action against crypto blogger Tiffany Fong for leaking internal information regarding the company’s bankruptcy case. Fong has been reporting on the bankruptcy case via YouTube and social media platforms, sharing leaked internal information allegedly provided to her by disgruntled former Celsius employees.

El Salvador’s Bitcoin adoption Takes Effects Soon, Possibly Boost the BTC’s price, Analysis Predict
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El Salvador’s Bitcoin adoption Takes Effects Soon, Possibly Boost the BTC’s price, Analysis Predict

The adoption of Bitcoin as legal tender in El Salvador will be effective tomorrow. The market concerns if the new measure would further stimulate the surge of Bitcoin’s price.

Lesley O'Neill was Appointed as Binance.US Chief Compliance Officer
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Lesley O'Neill was Appointed as Binance.US Chief Compliance Officer

Lesley O’Neill's appointment as Binance.US Chief Compliance Officer marks a strategic response to heightened SEC scrutiny, emphasizing the crypto industry's shift towards compliance and regulatory adherence.

FTX's Bankruptcy Plan Leaves Customers Struggling Amid Crypto Market Revival
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FTX's Bankruptcy Plan Leaves Customers Struggling Amid Crypto Market Revival

The contrast between FTX's ongoing bankruptcy proceedings and the broader crypto market's revival underscores the volatility and risks in the cryptocurrency industry.

Bored Ape Yacht Club wins legal battle, Mandala Metaverse selects Polkadot, Square Enix partners with Elixir Games, and Cricket Stars launches on Tezos
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Bored Ape Yacht Club wins legal battle, Mandala Metaverse selects Polkadot, Square Enix partners with Elixir Games, and Cricket Stars launches on Tezos

Yuga Labs, the creators of the Bored Ape Yacht Club (BAYC) NFT collection, have won a legal battle against Ryder Ripps and Jeremy Cahen, the creators of the RR/BAYC NFT collection. Mandala Metaverse has chosen Polkadot to host its first major NFT drop, called the "Cryptonauts". Square Enix has partnered with Elixir Games to bring blockchain gaming to the mainstream. Cricket Stars, a multiplayer NFT cricket strategy game, has been launched on the Tezos blockchain.

US Congressman Set to Implement the Cryptocurrency Act of 2020
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US Congressman Set to Implement the Cryptocurrency Act of 2020

Paul Gosar of the House of Representative introduced the “Crypto-Currency Act of 2020,” on March 9, a bill that is set to choreograph a wide range of digital assets to be liable to the appropriate regulatory bodies and agencies assigned to it.

Paraguay To Introduce Bitcoin law, Draft Leaks details
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Paraguay To Introduce Bitcoin law, Draft Leaks details

Reportedly, a leaked draft copy shows the detail of the proposing Bitcoin law in Paraguay. The South-American country is expected to be another country worldwide to propose Bitcoin law after El Salvador, promoting Bitcoin as Fiat Money.

Despite Regulatory Uncertainty, Ripple Is Launching Crypto Liquidity Service for Financial Firms
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Despite Regulatory Uncertainty, Ripple Is Launching Crypto Liquidity Service for Financial Firms

Ripple has announced that it is launching a liquidity hub that would allow financial services companies to provide their customers access to a range of cryptocurrencies.

Crypto Expert Explains the Fear and Excitement in CAR of Accepting Bitcoin as Legal Tender
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Crypto Expert Explains the Fear and Excitement in CAR of Accepting Bitcoin as Legal Tender

Exclusive Interview: Blockchain.News invites Marie Tatibouet, the Chief Marketing Officer, at Gate.io cryptocurrency exchange, to discuss the pros and cons of Bitcoin adoption in the Central African Republic and propose a way how crypto can be adopted in the region.

Richard Teng Signals Unchanged Core Values at Binance Amid Leadership Transition
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Richard Teng Signals Unchanged Core Values at Binance Amid Leadership Transition

Richard Teng, Binance's new CEO, prioritizes user protection and appeal amid leadership changes following Changpeng Zhao's resignation and $4.3 billion legal settlement for anti-money laundering violations.

US Officials Warn of AI's Role in Cyber Crimes
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US Officials Warn of AI's Role in Cyber Crimes

U.S. authorities are actively addressing the challenges posed by AI in cybersecurity and the legal system, balancing innovation with the need for safety, security, and ethical considerations.

Malaysia’s Financial Regulator Says Binance is Not Authorized to Operate in the Country
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Malaysia’s Financial Regulator Says Binance is Not Authorized to Operate in the Country

The Securities Commission (SC) of Malaysia, the country’s financial regulator, has announced that Binance cryptocurrency exchange is not unauthorized to operate in the country. The financial watchdog has, therefore, put the crypto exchange on the list of unlicensed companies.

Bittrex Global to End Trading on Dec 4, 2023
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Bittrex Global to End Trading on Dec 4, 2023

Bittrex Global, a Liechtenstein-based cryptocurrency exchange, will cease operations on December 4, 2023, following regulatory challenges and legal proceedings, requiring customers to convert U.S. dollar holdings.

China Revamps AML Law, Targets Crypto Crimes
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China Revamps AML Law, Targets Crypto Crimes

China is set to implement significant revisions to its Anti-Money Laundering Law by 2025, marking the first major overhaul since 2007. The amendments focus on including cryptocurrency transactions to combat rising crypto-related money laundering crimes.

Chinese Smart Courts Leveraging Blockchain and AI
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Chinese Smart Courts Leveraging Blockchain and AI

Smart courts in China are reportedly leveraging a range of innovative technologies to settle legal cases. The online judiciary courts utilize big data, cloud computing, artificial intelligence, and blockchain.

SEC Regrets Missteps in Debt Box Case: A Lesson in Legal Accountability
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SEC Regrets Missteps in Debt Box Case: A Lesson in Legal Accountability

The SEC's acknowledgement of errors in the Debt Box case highlights the significance of accuracy and candor in legal proceedings, impacting regulatory practices in the cryptocurrency sector.

European Digital Currencies Soon to Become Legal Tenders, ECB Says
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European Digital Currencies Soon to Become Legal Tenders, ECB Says

Central Bank Digital Currencies may soon become legal tenders in their jurisdictions as planned by major central banks in Europe as officials are currently studying such initiatives.

Brock Pierce and Blockchain Capital Sue Florida-Based Company for Copyright Infringement
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Brock Pierce and Blockchain Capital Sue Florida-Based Company for Copyright Infringement

Brock Pierce and his business partners are suing Blockchain Capital Management LLC (BCM) for copyright infringement.

Former Bithumb Chairman Lee Jung-Hoon Acquitted in $100M Fraud Case
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Former Bithumb Chairman Lee Jung-Hoon Acquitted in $100M Fraud Case

Lee Jung-Hoon, former chairman of Bithumb, has been acquitted in a $100 million fraud case related to the non-listing of the BXA token, highlighting challenges in crypto industry legal cases.

Sango Coin Listing Delayed in Central African Republic
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Sango Coin Listing Delayed in Central African Republic

The launch of the Central African Republic's Sango Coin has been postponed for a few weeks due to legal and regulatory obstacles. The Sango Project, which is behind the initiative, stated that the delay is necessary to ensure compliance with all relevant regulations.

Is Blockchain the Missing Piece Needed in Curbing Illegal Fishing?
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Is Blockchain the Missing Piece Needed in Curbing Illegal Fishing?

Illegal fishing is a predicament that is at times in oblivion despite it endangering marine ecosystems as it distorts their sustainability and biodiversity. Blockchain offers a distributed ledger technology (DLT) that can be helpful in fish tracking from the time it was captured to the moment it is consumed, and this approach can be instrumental in eradicating illegal fishing.

South Korea’s Crypto Market Gears up to Legitimacy, With Banks Eyeing a Share of the Cake
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South Korea’s Crypto Market Gears up to Legitimacy, With Banks Eyeing a Share of the Cake

With the incoming South Korean President, Yoon Suk-yeol, pledging the easing of crypto regulations, the market is on a solid path to being significantly legitimized.

Teenage Twitter Hacker Mastermind of Bitcoin Scam Pleads Not Guilty
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Teenage Twitter Hacker Mastermind of Bitcoin Scam Pleads Not Guilty

17-year old Graham Ivan Clark, the alleged teenage mastermind of the notorious Bitcoin hack involving high profile individuals has pleaded not guilty

More Than $400 Million in Bitcoin Withdrawn from BitMEX Following CFTC Charges
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More Than $400 Million in Bitcoin Withdrawn from BitMEX Following CFTC Charges

$400 million have been withdrawn from Bitmex in less than 24 hours after the US CFTC filed a legal enforcement action against the exchange’s owners.

Nexo Seeks $3 Billion in Damages from Bulgaria Over Investigation
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Nexo Seeks $3 Billion in Damages from Bulgaria Over Investigation

Nexo files a $3 billion claim against Bulgaria for damages caused by a dropped investigation, citing material and reputational harm and disrupted business plans.

Taiwanese Authorities Caution Against Crypto Betting for 2024 Presidential Election
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Taiwanese Authorities Caution Against Crypto Betting for 2024 Presidential Election

Taiwanese authorities warn against using cryptocurrency betting platforms for the January 2024 presidential election, amid ongoing investigations and multiple arrests.

Singapore High Court Upholds DeFiance Capital's Claim Against Three Arrows Capital
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Singapore High Court Upholds DeFiance Capital's Claim Against Three Arrows Capital

Singapore's High Court upheld DeFiance Capital founder Arthur Cheong's trust relationship over assets disputed in bankruptcy proceedings, establishing investors' rights in cryptocurrency assets and trust law.

Anthropic's Updated Terms of Service: Enhanced Copyright Protection for AI Outputs
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Anthropic's Updated Terms of Service: Enhanced Copyright Protection for AI Outputs

Anthropic revises commercial terms of service to provide enhanced copyright protection for Claude API users, addressing ongoing legal challenges in the AI industry.

Bored Ape Yacht Club wins legal battle
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Bored Ape Yacht Club wins legal battle

Bored Ape Yacht Club (BAYC) creator Yuga Labs has won a legal battle against copycat non-fungible token (NFT) project RR/BAYC. The United States District Court found that the co-creators of RR/BAYC had infringed Yuga Labs’ trademarks, and Yuga Labs is entitled to an injunction and damages. In other news, Mandala Metaverse has chosen Polkadot to host its first major NFT drop, Final Fantasy developer Square Enix has partnered with Elixir Games for blockchain gaming, and a free-to-play multiplayer NFT cricket strategy game called Cricket Stars has launched on the Tezos blockchain.

US CFTC Charges BitMEX For Operating Illegal Crypto Derivatives Exchange
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US CFTC Charges BitMEX For Operating Illegal Crypto Derivatives Exchange

The United States CFTC has charged operators of BitMEX for operating an unregistered trading platform and violating anti-money laundering procedures.

US Government Seize Bitcoin Terrorism Funding for Islamic State and Al-Qaeda
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US Government Seize Bitcoin Terrorism Funding for Islamic State and Al-Qaeda

The US Justice Department has revealed that it has seized cryptocurrency worth millions of dollars intended to fund the activities of terror groups like the military arm of Hamas, the Islamic State, and Al-Qaeda. This breakthrough is the largest clampdown on online terrorist fundraising,

Bitfinex and Tether Claim Lawsuit Allegations of Market Manipulation are Baseless
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Bitfinex and Tether Claim Lawsuit Allegations of Market Manipulation are Baseless

BitFinex and Tether have officially spoken out against what they are describing as a baseless lawsuit, designed to undermine the cryptocurrency ecosystem.

US Media Giants Block AI Crawlers to Protect Copyrights
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US Media Giants Block AI Crawlers to Protect Copyrights

A Wired report reveals that 88% of top US news outlets are blocking AI crawlers like OpenAI's GPTBot, to protect against copyright infringement and uncompensated content use.

UK Judges Receive Groundbreaking AI Usage Guidance for Legal Work
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UK Judges Receive Groundbreaking AI Usage Guidance for Legal Work

UK senior judges have issued guidance to magistrates and judges in England and Wales on the responsible use of AI in courts.

dYdX Initiates Token Migration Following Layer-1 Blockchain Inception
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dYdX Initiates Token Migration Following Layer-1 Blockchain Inception

Antonio Juliano, dYdX founder, has flagged an upcoming large-scale migration of locked $DYDX tokens to the dYdX Chain following its recent launch. This migration, strictly abiding by legal agreements, marks a significant phase in dYdX's transition to a layer-1 blockchain, amplifying the utility of DYDX tokens for staking and governance purposes.

UK Supreme Court Denies AI's Claim to Inventorship in Landmark Case
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UK Supreme Court Denies AI's Claim to Inventorship in Landmark Case

The UK Supreme Court's decision not to acknowledge AI as an inventor highlights the importance of human involvement in patent applications, setting a precedent for future AI-related patent disputes.

Terraform Labs CEO Sends Millions to Law Firm Before Collapse
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Terraform Labs CEO Sends Millions to Law Firm Before Collapse

Terraform Labs CEO, Do Kwon, sent millions to a South Korean law firm right before the company's collapse. Prosecutors believe Kwon's actions were deliberate and prove his awareness of the impending collapse and anticipated legal problems. Kwon is currently facing extradition to both the United States and South Korea, and prosecutors suspect he converted illegal funds from Terra to Bitcoin. Prosecutors have identified over $314 million in illicit assets associated with Kwon and his associates.

Law Firm Pleads with Shaquille O Neal to Acknowledge Legal Complaint
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Law Firm Pleads with Shaquille O Neal to Acknowledge Legal Complaint

The Moskowitz Law Firm has made a public plea to Shaquille O’Neal to acknowledge its legal complaint on behalf of FTX investors regarding his previous endorsement of the now-defunct crypto exchange. The firm has been standing outside TNT studios in Atlanta all week to serve him, but his security guards have not allowed them in. O’Neal is the only one among the FTX celebrities who has not yet been served.

El Salvador's Chivo Wallet Welcomes 2.1M Users in 3 Weeks
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El Salvador's Chivo Wallet Welcomes 2.1M Users in 3 Weeks

El Salvador's President Nayib Bukele said as many as 2.1 million users are now actively using the Chivo wallet.

HKPF and SFC Form Joint Working Group to Tackle Illicit Activities in VATPs
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HKPF and SFC Form Joint Working Group to Tackle Illicit Activities in VATPs

The HKPF and SFC have formed a joint working group to enhance monitoring and investigation of illegal activities related to VATPs. The group aims to facilitate information sharing, assess risks, and collaborate on investigations. The move comes amid ongoing investigations into the unlicensed operations of the Dubai-based JPEX exchange.

China Clarifies its Stance on Bitcoin: Legal if the Crypto Does Not Act as Alternative to Fiat
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China Clarifies its Stance on Bitcoin: Legal if the Crypto Does Not Act as Alternative to Fiat

China has not always been friendly towards cryptocurrencies, however, the country has not completely banned Bitcoin, according to the Beijing Arbitration Commission.

Could Brock Pierce's Presidential Campaign Damage the Crypto Industry? Tether's Legal Troubles Resume
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Could Brock Pierce's Presidential Campaign Damage the Crypto Industry? Tether's Legal Troubles Resume

Brock Pierce’s run for President of the United States may have come at the wrong time, as the New York Supreme Court today ruled that Bitfinex and Tether must face up to allegations that they concealed the loss of commingled corporate and client funds amounting to over $850 million.

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