Regulation

Binance.US has asked the court to deny the securities regulator’s proposed temporary restraining order against its assets ahead of a June 13 hearing, claiming that the move would “effectively end” its business. In a June 12 filing, Binance.US slammed the SEC’s emergency motion for a temporary restraining order on its business, calling it “draconian and

A newly surfaced video featuring Gary Gensler from 2018 has made the rounds on social media, showing the now-chair of the United States securities regulator agastating that multiple cryptocurrencies are “not securities.” On June 12 multiple Twitter accounts shared the video which is understood to come from a 2018 event hosted by Bloomberg for institutional investors. “Over

The United Nations has called artificial intelligence-generated media a “serious and urgent” threat to information integrity, particularly on social media. In a June 12 report, the UN claimed the risk of disinformation online has “intensified” due to “rapid advancements in technology, such as generative artificial intelligence” and singled out deepfakes in particular. The UN said

United States-based crypto exchange Binance.US has reportedly hired a former enforcement official from the Securities and Exchange Commission (SEC) as part of the legal team to defend itself against allegations of operating as an unregistered securities exchange. According to a June 12 report from Bloomberg, Binance.US has hired former SEC enforcement co-director George Canellos with

Members of the United States House of Representatives are pushing for ways to remove Securities and Exchange Commission (SEC) Chair Gary Gensler from his position, but the legality may be more complicated than a single piece of legislation. On June 12, Ohio Rep. Warren Davidson introduced the SEC Stabilization Act with the expressed intention of

United States Congressman Warren Davidson has introduced the “SEC Stabilization Act” into the House of Representatives, announced June 12. One of the bill’s main provisions is to fire Securities and Exchange Commission (SEC) chair Gary Gensler.  Davidson said in a statement: “U.S. capital markets must be protected from a tyrannical Chairman, including the current one.

British Prime Minister Rishi Sunak recently announced that Google DeepMind, OpenAI, and Anthropic — three tech outfits widely considered the global industry leaders in generative AI technologies — have agreed to provide the United Kingdom with early access to their AI models. Sunak made the announcement during a speech opening London Tech Week, an event

The Delaware Court of Chancery in the United States has granted a motion from crypto investment firm Galaxy Digital largely dismissing digital asset custodian BitGo’s case following a dropped acquisition of the firm in 2022. According to court documents filed on June 9, Vice Chancellor J. Travis Laster dismissed BitGo’s complaint against Galaxy Digital with

United States President Joe Biden and the Democratic Party risk losing its crucial youth voters as a result of its continued “war against crypto,” according to the Winklevoss twins. On June 10, co-founder of the crypto exchange Gemini, Cameron Winklevoss, tweeted the Democrats will “alienate an entire generation” of youth voters due to its war

The Solana Foundation took to Twitter to address for the first time the U.S. Securities and Exchange Commission’s classification of its native token, Solana (SOL), as a security.  “The Solana Foundation disagrees with the characterization of SOL as a security,” reads a statement from June 10, noting that it welcomes the engagement of policymakers to

With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion.  Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a

With its progressive stance on cryptocurrencies, Hong Kong’s legislator invites Coinbase and other crypto exchanges to establish operations in the region, fostering a favorable environment for the industry’s growth. Legislative Council member Johnny Ng took to Twitter, expressing support and offering assistance to crypto trading operators like Coinbase. He also hinted at potential stock listing

Bankrupt cryptocurrency exchange FTX has been granted permission to remove individual customers from all court filings in its bankruptcy case. Meanwhile, the names of companies and institutional investors will be sealed for another 90 days. In recent times, mainstream media outlets have pushed for access to the list of FTX customers, arguing that the press

It has been a tough week for cryptocurrency exchange Binance. On June 9, Nigeria’s securities authority reportedly deemed the exchange illegal, just days after Binance was sued by the U.S. Securities and Exchange Commission.  “Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever,” Nigeria’s Securities and Exchange Commission

Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments. In an interview with Cointelegraph, Anders noted that for the

On the eve of his departure from office, May 28, former President Muhammadu Buhari signed into law the Finance Act 2023.  The Act introduced a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including

A U.S. District Judge has entered a default judgment order that requires Decentralized Organization Ooki DAO to permanently shut down and pay a civil monetary penalty of $643,542. Today the CFTC’s Division of Enforcement Director Ian McGinley released a statement on the Ooki DAO litigation victory. Learn more: https://t.co/MInNeKLeH5 — CFTC (@CFTC) June 9, 2023

The allegations against Binance and Coinbase by the U.S. Securities and Exchange Commission have substantial ramifications for the decentralized finance (DeFi) ecosystem, and they are far from positive. DeFi has developed as a promising area within the crypto industry, aiming to disrupt established financial systems and deliver financial services in a decentralized manner. However, the

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The United States Securities and Exchange Commission’s (SEC) lawsuits against two leading centralized crypto exchanges — Binance.US and Coinbase — have led to a surge in DeFi

The United States Securities and Exchange Commission (SEC) is seeking ‘alternative service’ from the U.S. District Court in Washington, D.C., to issue a legal summons to Changpeng Zhao, the CEO of cryptocurrency exchange Binance. Zhao and Binance were recently sued by the SEC over alleged unregistered securities operations. Related: SEC sues Coinbase for breaking US securities