In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), the court has established a firm timeline for the remedies phase of the lawsuit. This phase is critical as it will determine the consequences and potential penalties for Ripple following the extensive legal proceedings that have captivated the attention of […]
The cryptocurrency industry is pushing back against proposed regulations that would require more entities to disclose digital currency transactions. The US Treasury Department released draft guidelines in August aimed at addressing challenges related to reporting and taxing cryptocurrency transactions. Critics argue that these measures would hinder the broader crypto market and decentralized finance, raising constitutional […]
A significant development has occurred in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance entities, including CEO Changpeng Zhao. The US court has approved a protective order that governs the production, use, and disclosure of information and materials related to the SEC vs. Binance lawsuit. This protective order aims […]
In the ongoing legal battle between Binance and the U.S. Securities and Exchange Commission (SEC), a joint motion for a protective order has been filed. This motion aims to establish guidelines for the treatment and disclosure of confidential information during the litigation process. The SEC’s enforcement actions in the cryptocurrency sector have increased under Chair […]
XRP experienced a sudden surge in price due to a deceptive business registration claiming to be a BlackRock XRP trust. The filing, which closely resembled genuine registrations associated with the renowned asset management firm, caused a stir in the cryptocurrency community. The value of XRP briefly increased by about 14% as a result. However, the […]
The Blockchain Association, a cryptocurrency advocacy group in the United States, has expressed opposition to proposed tax regulations by the Internal Revenue Service (IRS). In a letter submitted on November 13, the association argued that the IRS rules, which aim to regulate the sale and exchange of digital assets, exceeded the agency’s authority and demonstrated […]
Senator Rob Portman clarified on the Senate floor that brokers sell on behalf of someone else and do not just provide ancillary services. However, a proposed rule aims to expand the definition of brokers to include not only those who directly act as dealers or agents in digital-asset transactions, but also a broad category of […]
Bankrupt crypto lender Genesis has reached a settlement with defunct crypto hedge fund Three Arrows Capital (3AC) to pay $33 million in order to settle $1 billion in claims. The hedge fund’s collapse in June 2022 was a significant event in the crypto industry, and its claims against Genesis relate to transfers made before the […]
The United States Financial Services Committee (FSC) has scheduled a hearing on November 15th to delve into the issue of illicit activities within the cryptocurrency ecosystem. The hearing, titled “Crypto crime in context: breaking down the illicit activity in digital assets,” will feature prominent figures from the crypto industry as witnesses. Among them are Bill […]
FTX, a cryptocurrency exchange, has filed a lawsuit against Bybit and its affiliates, accusing them of using fraudulent tactics to withdraw $953.2 million from the FTX platform before it collapsed. The lawsuit alleges that Bybit and its affiliates had VIP privileges that allowed them to prioritize their withdrawals, leaving FTX’s non-VIP customers struggling to access […]
