Terraform Labs, the blockchain company, has achieved a partial victory in a case brought against it by the U.S. Securities and Exchange Commission (SEC). Judge Jed Rakoff issued a summary judgment in favor of Terraform Labs, stating that the firm did not engage in transactions involving security-based swaps. However, the judge also ruled that various […]
India’s regulatory body has issued compliance notices to nine cryptocurrency exchanges, including major players like Binance, Kucoin, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex and Huobi. The watchdog is seeking to block the URLs of these exchanges.This move comes as the Indian government continues to crack down on the cryptocurrency industry, aiming to regulate and […]
Republican lawmakers are calling for the removal of Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), citing bias and damage to the digital asset industry. Congressman Warren Davidson, with support from House Majority Whip Tom Emmer, has advocated for Gensler’s dismissal, alleging corruption and abuses of power. This move comes amidst […]
A United States court has ruled in favor of the Securities and Exchange Commission (SEC) in a case involving Terraform Labs and its former CEO, Do Kwon. The court granted summary judgment for the SEC on Count IV of the Amended Complaint, which pertains to the defendants’ unregistered offers and sales of LUNA and MIR […]
In a move to regulate the cryptocurrency sector, India’s Financial Intelligence Unit (FIU) has issued show cause notices to nine offshore Virtual Digital Assets (VDA) service providers for allegedly violating the Prevention of Money Laundering Act (PMLA) of 2002. The targeted firms, located in Seychelles, Cayman Islands, and Switzerland, include popular platforms such as Kucoin, […]
The United States Bankruptcy Court for the Southern District of New York has granted final approval for Celsius Mining Company’s restructuring plan. The plan involves the creation of a new public company focused on bitcoin mining, with $225 million in funding and the transfer of specific mining assets. The court also approved modifications to the […]
Grayscale, the digital asset management firm, has filed an amended S-3 filing with the United States Securities and Exchange Commission (SEC) following a recent leadership shuffle and the departure of Barry Silbert, the CEO of Grayscale’s parent company, Digital Currency Group. The filing indicates that Grayscale has reached a compromise with the SEC, agreeing to […]
In recent years, the United States Securities and Exchange Commission (SEC) has faced criticism from the crypto industry for its aggressive approach towards enforcement actions and lawsuits targeting crypto firms and leaders. Many in the industry have called for new leadership within the SEC to support innovation and enable the growth of the crypto sector.US […]
Stablecoin issuer Paxos has received regulatory approval from the New York Department of Financial Services (DFS) to extend its products to the Solana blockchain. This marks a significant milestone for Paxos as it expands beyond the Ethereum network, where it was previously the only stablecoin issuer allowed. The Pax Dollar (USDP) will be launched on […]
Hong Kong’s financial authorities, the Hong Kong Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB), have launched a public consultation to establish a regulatory framework for stablecoins. The proposed framework aims to regulate stablecoin issuers and mitigate potential risks to monetary and financial stability.The framework includes a licensing regime, requiring fiat-referenced stablecoin […]
