Regulation

Bankrupt crypto lender Celsius Network has posted that the company is pleased with the resolutions that it was able to reach with various United States government agencies. The announcement came after the news that the FTC has imposed a $4.7 billion fine on the company. On July 13, the United States Federal Trade Commission (FTC)

The United States Securities Exchange Commission (SEC) could be investigated for a “haphazard and heavy-handed approach to digital assets,” or, more specifically, for its “sweetheart deal” with crypto platform Prometheum.  Such requests were filed on July 13 to the SEC’s Inspector General Deborah Jeffrey and the Government Accountability Office’s Comptroller General Gene Dodaro by Congressman

Legislation aimed at regulating certain internet services in the United Kingdom should cover activities in the metaverse, according to members of the House of Lords. In a July 12 session of the U.K. parliament, members of the upper house debated whether the Online Safety Bill would cover “certain harmful content” users could come across in

Ripple (XRP) has now become the fourth largest cryptocurrency by market capitalization after Ripple Labs’ partial victory over the Securities and Exchange Commission (SEC) on July 13.  Mere hours after the ruling, XRP market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion, pushing it up from the 7th position

The United States dollar’s place as a global reserve currency will be under threat if Congress isn’t quick to regulate stablecoins, warns the CEO of Circle. On July 13, Jeremy Allaire appeared in a two-minute video by Circle, the issuer of USD Coin (USDC), targeted at lawmakers. It comes as bipartisan digital asset-specific legislation was

Ripple Labs’ split-decision victory against the United States securities regulator is being seen as a significant blow to the regulator’s “war on crypto,” however, crypto lawyers warn it isn’t a definitive victory for the industry. In a landmark ruling on July 13, Judge Torres determined that XRP (XRP) is not a security — at least

Steven Kinard, director of Bitcoin mining analytics at the Texas Blockchain Council, a crypto advocacy group, has announced that he will run for a seat in the Texas House of Representatives. In a July 11 announcement, Kinard said he planned to seek the Republican Party nomination for Texas House District 70 in the Dallas-Fort Worth

OpenAI, maker of AI chatbot ChatGPT and related products, has received a criminal investigative demand (CID) from the United States Federal Trade Commission (FTC), the Washington Post reported on July 13. The CID is reproduced on the newspaper’s website without a date. A CID is similar to a subpoena, and recipients are legally obliged to

Ripple Labs scored a victory in the United States District Court in the Southern District of New York on July 13 as Judge Analisa Torres ruled in favor of the company in a case brought forth by the Securities and Exchange Commission dating back to 2020. According to documents filed on July 13, Judge Torres has

Argentina welcomed its first Bitcoin (BTC) futures contract on July 13, just three months after the country’s securities watchdog approved the underlying index as part of a strategic innovation agenda. According to Matba Rofex, the trading platform behind the investment vehicle, it is the first Bitcoin futures contract in Latin America. In a futures contract, buyers

The United States Attorney for the Southern District of New York and Federal Bureau of Investigation have announced fraud charges against the former CEO of bankrupt crypto lender Celsius, Alex Mashinsky. In a July 13 announcement, the U.S. Justice Department said it had charged Mashinsky with securities fraud, commodities fraud and wire fraud related to

The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke out minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day. The former CEO was reportedly arrested after a probe into the company’s collapse, reported

The United States’ Securities and Exchange Commission (SEC) is reportedly taking action against Celsius Network, one of the cryptocurrency lending firms that collapsed in 2022. The securities regulator filed a lawsuit against Celsius’ former CEO Alex Mashinsky on July 13, according to a report by Bloomberg. Details of the complaint weren’t immediately available, the report

According to the legal team trying to return FTX investor funds through court actions, the failed crypto exchange spent nearly $400 million acquiring Swiss company Digital Assets AG (DAAG), which became FTX Europe. Now the plaintiffs are looking for a refund of the money spent on the acquisition by Sam Bankman-Fried (SBF) and his associates. 

The cryptocurrency payment industry continues to evolve with a new cryptocurrency payment option coming to crypto-friendly Telegram messenger. Wallet, a Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin (BTC), has launched a crypto payment solution based on The Open Network (TON) blockchain. Called Wallet Pay, the new service provides crypto payment transactions

Europe’s first spot Bitcoin (BTC) exchange-traded fund (ETF) is set to debut later this year after a year-long delay. The Bitcoin ETF by Jacobi Asset Management, a London-based multi-asset investment platform, was set to debut on the Euronext Amsterdam Exchange under the ticker BCOIN in July 2022.  However, unprecedented market conditions aided by the collapse

An alliance of industry watchdogs based in the United States has united to express opposition to a proposed draft bill on the crypto market structure by the United States House Financial Services Committee. In detailed correspondence addressed to the committee, groups, including Americans for Financial Reform and the Center for Responsible Lending, claimed that stakeholders in

Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks.  According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of hedge fund managers, crypto

A pre-motion hearing set to take place on July 13 between the Securities and Exchange Commission (SEC) and crypto exchange Coinbase should provide a sense of the litigation tone and its potential impacts on the broader crypto industry, legal sources told Cointelegraph.  Previously scheduled for August, the conference is a typical request presented by any

United States Sens. Cynthia Lummis and Kirsten Gillibrand will reintroduce legislation aimed at establishing a comprehensive regulatory framework for digital assets. The U.S. lawmakers said they would reintroduce the Responsible Financial Innovation Act to the Senate on July 12 after roughly a year of being tabled in the previous session of Congress. The bipartisan piece