Policy and Legal
Since the emergence of Bitcoin, policies and laws around cryptocurrencies has been controversial. Some countries have started to embrace digital currencies, while others have decided to ban digital assets altogether. Lawmakers and policymakers are beginning to evaluate the benefits of cryptocurrencies, while also raising concerns.

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.'s $10.5 Million Mistake Leads to Legal Fallout for Australian Couple
A Melbourne couple faces legal repercussions after 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.
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.
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.
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.
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.
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.
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.
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.
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.

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