NASAA Supports SEC in Coinbase Lawsuit, Defends Applying Securities Laws to Digital Assets Deaths Toll Rise
Bitcoin's price has been trending lower, currently trading below the $27,500 pivot level. The downward movement may be attributed to rising tensions in the Israel-Hamas conflict. The situation has escalated, with over 1,200 reported deaths on the Israeli side. Bitcoin is facing resistance near th ...
NASAA Supports SEC in Coinbase Lawsuit, Defends Applying Securities Laws to Digital Assets
The North American Securities Administrators Association (NASAA) has filed an amicus curiae in support of the U.S. Securities and Exchange Commission (SEC) in its lawsuit against Coinbase. The NASAA argued that digital assets should not be treated as "somehow special" and that the SEC's actions agai ...
Attorney John Deaton’s Involvement in LBRY Case and Ripple-SEC Lawsuit
In 2022, attorney John Deaton, known for representing XRP holders in the Ripple-SEC lawsuit, took an active role in the LBRY lawsuit as an Amicus Curiae. Additionally, he submitted a Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell in the LBRY case. He expressed unwavering commitment, ...
Investors File Lawsuit Against Shaquille O’Neal for Alleged Promotion of Unregistered NFTs
Investors have filed a class action lawsuit against basketball player Shaquille O'Neal, accusing him of promoting the Astrals' non-interchangeable tokens (NFTs) and violating securities laws. According to a complaint filed by investor Daniel Harper in the U.S. District Co ...
Malaysian Securities Commission Accuses Huobi Global of Operating Without Registration
The Securities Commission of Malaysia (SC) accused cryptocurrency exchange Huobi Global and its CEO Leon Lee of lack of registration. SC demanded that Huobi shut down its services for local users. The regulator issued a warning that Huobi Global and its CEO Leon Li are op ...
SEC Requests Reduced Fine for LBRY Due to Lack of Funds
The U.S. Securities and Exchange Commission (SEC) has asked the court to reduce the fine for decentralized platform LBRY from $22 million to $111,614 because of LBRY's lack of funds. According to a document filed by the agency in the District Court of New Hampshire, the S ...
Ripple CEO and Venture Capitalist Disagree on XRP’s Security Status
The CEO of Ripple argued with a prominent venture capitalist and entrepreneur about whether XRP can be considered a security. Brad Garlinghouse says the company has already spent about $200 million on litigation costs during its years-long fight with the U.S. Securitie ...
US SEC Chairman Gary Gensler Calls for Cryptocurrency Platforms to Register as Investment Contracts
In a recent statement, Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), emphasized that cryptocurrencies should be classified as investment contracts and hence, platforms offering them must register accordingly. Gensler tweeted that any platform offering investment c ...
Coinbase files lawsuit against SEC demanding clear regulations for cryptocurrencies
Coinbase, a cryptocurrency exchange, has taken legal action against the US Securities and Exchange Commission (SEC) after failing to receive a response to a petition it submitted in July 2022. The petition requested that the SEC adopt clear rules and regulations for the cryptocurrency industry in ...
SEC Chairman Raises Concerns Over Cryptocurrency Promotion and Potential Ethereum Regulation
U.S. Securities and Exchange Commission (SEC) Chairman, Gary Gensler, has voiced his concerns over the promotion of cryptocurrencies, indicating that Ethereum may be subjected to enhanced regulatory oversight. In a recent interview with TheBlock, Gensler emphasized that the primary objective of t ...
SEC Commissioner Esther Pierce Disagrees with Chairman Gensler’s Regulatory Policy
SEC Commissioner Esther Pierce recently expressed her opposition to the regulatory policies being implemented by SEC Chairman Gary Gensler in statements posted on the agency's website. Pierce has been critical of Gensler's handling of the SEC, stating that the agency is stifling innovation and pr ...
Founder of CryptoLaw Believes Ethereum Could Be Recognized as a Security after PoS Transition
According to John Deaton, the founder of CryptoLaw, who advocates for XRP cryptocurrency owners, the recent transition of the Ethereum network to the Proof-of-Stake (PoS) consensus algorithm may lead to Ethereum being recognized as a security by regulators. In an interview with Real Vision Crypto ...
SEC Chairman Says No Need for Additional Cryptocurrency Legislation
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler recently addressed concerns about the need for additional legislation regarding cryptocurrencies. According to Gensler, the existing securities laws already cover much of the activity that occurs in cryptocurrency markets. He ...
Terraform Labs Founder Do Kwon Accused of Fraud and Setting up Company in Serbia for Less Than $1
According to reports from various media outlets, Do Kwon, the founder of Terraform Labs, established a new company in Serbia for a remarkably low price of less than $1 just a few weeks after being placed on the international wanted list by Interpol. Kwon founded a company named "Codokoj22 d.o.o. ...
Founder of Titanium Blockchain Crypto Scam Receives 4-Year Prison Sentence
A founder of a fraudulent cryptocurrency project called Titanium Blockchain has been sentenced to 4 years in prison by a US court after his clients lost $21 million. Michael Stolleri launched the Titanium Blockchain Infrastructure Services (TBIS) project in 2017 and conducted an initial coin offe ...
SEC Warns Investors about Risks of Crypto Assets and Proof-of-Reserves
The US Securities and Exchange Commission (SEC) has issued a warning to investors regarding the potential risks associated with investing in crypto assets. The agency has specifically cautioned against relying solely on proof of reserves (PoRs) published by cryptocurrency exchanges, stating that ...