Lawyers representing the United States Securities and Exchange Commission (SEC) have argued that the additional documents submitted by Dentons — the law firm representing Terraform Labs and Do Kwon — in support of its motion to dismiss the lawsuit lack adequate support for dismissing the case. The SEC’s counsel asserts that the Binance.US transcript and
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Global cryptocurrency exchange Binance has terminated its services in the Netherlands, making an exit from the Dutch market after a bid to obtain a virtual asset service provider (VASP) license failed. The termination of services is effective immediately, and no new customers from the Netherlands can open an account with the crypto exchange. From July 17
Crypto Twitter was witness to a fierce debate this wee, with billionaire investor Mark Cuban accusing SEC’s Gary Gensler of throwing crypto under the bus while a former SEC official was quick to come to the regulator’s defense. In a spirited, back-and-forth exchange on Twitter with former SEC officer John Reed Stark that started on
BlackRock’s latest filing for a spot Bitcoin (BTC) trust will drive investors’ confidence in Bitcoin and may even be “the best thing that could happen” to BTC, according to some crypto industry observers — but others warn of a hidden cost. During an interview on June 16, Galaxy Digital CEO Mike Novogratz said the approval
Crypto lending firm Abra, which once handled more than $116 million in assets, had allegedly committed securities fraud and has been insolvent since March 31, according to Texas regulators. In a June 15 enforcement action — including an emergency cease and desist order — the Texas State Securities Board accused Abra and its founder William Barhydt of
The final quarter of 2020 saw the launch of a precedent-setting lawsuit by the United States Securities and Exchange Commission against Ripple Labs, CEO Bradley Garlinghouse and co-founder Christian A. Larsen. The allegation: raising north of $1 billion in 2013 through the unregistered sale of a purported security, XRP (XRP). The implications of Ripple’s bold
Hong Kong lays out the red carpet for crypto exchanges While some jurisdictions (cough: America) have adopted a regulation-by-enforcement approach toward crypto, others are doing the opposite. According to a June 15 report from The Financial Times, the Hong Kong Monetary Authority is pressuring major financial institutions to accept crypto clients. But it’s not just
The newly released Hinman documents relevant to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) have shed light on internal divisions within the SEC and raised questions about its motives. The Hinman documents pertain to internal SEC communications regarding a speech delivered by former director William Hinman in
The European Union’s financial watchdog will launch a three-part consultation process for the recently adopted Markets in Crypto-Assets framework, or MiCA. In a notice posted to the European Securities and Markets Authority (ESMA) website on June 12, regulators said the consultation packages would cover the authorization, governance, conflicts-of-interest and complaint-handling procedures of MiCA starting in
Curve DAO’s governance token CRV dropped 12% on June15 after reports surfaced of risky loans taken by its founder, Michael Egorov, on Aave. The token recorded its lowest trading level against ether (ETH) at 0.00035010 ETH on June 15. According to on-chain analytics outlet LookOnChain, Egorov deposited 431 million CRV (worth around $246 million) across
A United States federal judge is reportedly weighing a proposal to split former FTX CEO Sam Bankman-Fried’s (SBF) criminal charges into two trials following a filing from prosecutors. According to a June 15 report from the Wall Street Journal, Judge Lewis Kaplan of the Southern District of New York was considering whether to dismiss or
Terraform Labs co-founder Do Kwon will reportedly be taken into extradition custody in Montenegro, according to a report by the regional edition of Radio Free Europe (RFE). He also faces questions about ties to a local political figure. A spokesperson for the High Court of Montenegro told RFE that Kwon was ordered into custody for
While intuitively, mining Bitcoin may appear like a highly profitable endeavor, research suggests otherwise. After discovering Bitcoin, most users go down the rabbit hole and consider whether it is better to mine or buy Bitcoin directly. They usually give up due to the cost and rigor of running ASIC miners, regulatory uncertainty, and the lack
Banco de la República, Colombia’s central bank, is partnering with Peersyst and Ripple to pilot blockchain technology on the XRP ledger. The Ministry of Information and Communications Technologies (MinTIC) in Colombia will oversee the project, which will use Ripple’s recently launched central bank digital currency (CBDC) platform. Ripple and @Peersyst are partnering with Colombia’s @BancoRepublica
The middle eastern arm of cryptocurrency exchange OKX reported Dubai’s Virtual Asset Regulatory Authority had granted the firm a minimal viable product preparatory license as part of its plans to expand into the region. In a June 15 notice, OKX said amid the regulator’s licensing approval, the exchange planned to increase its staff to 30
Bitcoin (BTC) is copying the prelude to its 2020 breakout to an “insane” extent, the co-founders of Glassnode have said. In a tweet on June 15, Yann Allemann and Jan Happel highlighted three BTC price metrics which are anything but bearish. Metrics echo Bitcoin’s “major reversals and rallies” BTC/USD reached local highs of $31,000 in
Hong Kong-based crypto exchange CoinEx has been banned from operating in New York by Attorney General Letitia James. According to an announcement on June 15, over $1.7 million worth of the exchange’s funds were seized for allegedly failing to register as a securities and commodities brokerage. The agreement resolves a previous lawsuit against CoinEx from
Blockchain payments technology company Ripple is set to partner with Colombia’s central bank, Banco de la República. They aim to research potential applications of blockchain technology within Colombia, a significant development in South America’s adoption of this technology. This collaboration will also involve the Ministry of Information and Communications, as they plan to test possible ways
Move-to-earn platform Sweat Economy is set to repurpose over 2 billion native $SWEAT tokens that were locked up in inactive user wallets. The tokens, valued at around $10 billion, were locked up in dormant user accounts following a token airdrop event in Sep. 2022. According to the platform, Sweatcoin users that opted into the Web3
Defunct crypto lender Celsius has revised its bankruptcy filing, awaiting approval from a bankruptcy court in New York after a successful acquisition deal with the Fahrenheit crypto consortium. The crypto lender filed its reorganization plan on June 15. Under the revised plan, Celsius will convert all altcoins from customers, with the exception of “Custody and Withhold