CFTC fines Mirror Trading $1.7B for Bitcoin-related forex fraud
The United States regulators have finally taken steps to resolve an enforcement case against the collapsed Mirror Trading International (MTI).The United States District Court for the Western District of Texas has ordered MTI to pay $1.7 billion in restitution to victims for operating a fra ...
BitFlyer Implements “Travel Rule” to Enhance Security and Compliance Measures
The platform introduces the so-called "travel rule." It comes after a million-dollar fine from the U.S. Japan's largest crypto exchange BitFlyer has introduced the so-called "travel rule.". It went into effect on May 30. This means users will not be able to se ...
Attorney Faces Consequences for Using ChatGPT to Fabricate Evidence in Court Case
Now Themis doesn't know who to prosecute The neural network is to blame for falsifying the facts But it won't go to jail American attorney Stephen A.. Schwartz used ChatGPT to gather material for one of his cases. We don't know what made a lawyer w ...
SEC Indicates Cryptocurrency Regulation Will Rely on Penalties, Says Coinbase Lawsuit
In a lawsuit filed by the exchange Coinbase, representatives of the U.S. Securities and Exchange Commission (SEC) said that the development of laws to regulate cryptocurrencies will take years and while "will do" and fines. This is the first time a U.S. regulator has clea ...
Democratic Candidate Robert F. Kennedy Jr. Criticizes US Regulators for “War on Cryptocurrency”
He believes regulators have overstepped their authority And caused several financial problems This is important rhetoric from the presidential candidate Democratic candidate Robert F. Kennedy Jr. (and nephew of former President John F. Kennedy) addres ...
Hydrogen cryptocurrency project CEO found guilty of price manipulation
The Hydrogen cryptocurrency project was under investigation by the US Securities and Exchange Commission (SEC) which has now been concluded by the New York District Court. The case was initiated based on a complaint against Hydrogen for fraud. As per the ruling, the CEO of Hydrogen Technology, ...
Robinhood Financial to Pay $10.2 Million in Fines for Technical Failures
The North American Securities Association (NASAA) has recently announced that Robinhood Financial, the payment platform, has reached a settlement agreement with investors and has agreed to compensate for the damages caused by operational errors and technical failures. According to NASAA officials ...
US SEC Obtains Guilty Judgment Against Ormenus Coin Project Organizers for Investor Fraud
The US Securities and Exchange Commission has recently secured a conviction against the organizers of the Ormenus Coin cryptocurrency project, and is now seeking payment of a fine for duping investors. According to the regulator, siblings John Barksdale and Jonatina Barksdale developed and operat ...
SEC Chairman Gensler calls for $2.4B to Prosecute Unregistered Crypto Companies
Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), has urged the government to provide the agency with $2.4 billion in funding to help tackle the rise of unregistered crypto companies. Addressing the House Financial Services Subcommittee, Gensler explained that the all ...
US SEC Warns Coinbase of Possible Enforcement Action for Selling Unregistered Securities
The US Securities and Exchange Commission (SEC) has issued a warning to Coinbase, a popular cryptocurrency exchange, indicating that it could face enforcement action for selling unregistered securities. According to Coinbase management, the SEC's notice pertains to an unspecified portion of digit ...