Regulation

Celebrity defendants Kim Kardashian and Floyd Mayweather are back on the hook for a class action lawsuit that alleges their improper promotion of the now-defunct crypto token EthereumMax (EMAX). While the class-action suit was brought against the pair in January 2022 for allegedly promoting a “pump and dump” scheme, it was dismissed by a federal judge

Cryptocurrency-related enforcement actions undertaken by the United States securities regulator significantly increased in the six months following the bankruptcy of cryptocurrency exchange FTX. An analysis of press releases from the U.S. Securities and Exchange Commission (SEC), and news reports on its actions, found that in the six months preceding FTX’s collapse, the SEC undertook approximately

The Financial Conduct Authority (FCA) announced today June 8, that starting from October 8, advertisers of crypto services in the United Kingdom will be subjected to stricter regulations. The U.K. watchdog has mandated that crypto companies in the U.K. implement a “cooling-off period” for first-time investors. Additionally, as part of measures to enhance investor awareness

The United States could run the risk of an exodus of major Web3 and cryptocurrency service providers as the Securities and Exchange Commission (SEC) takes action against Coinbase and Binance. Sergej Kunz, co-founder of decentralized finance (DeFi) protocol 1inch Network, believes the SEC’s enforcement action against the two centralized exchanges could have a negative effect on the growth

The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president Ryan Wyatt and several legal experts, appeared before the committee to engage in what transpired to be a constructive dialogue. 

On June 8, the European Consumer Organisation (BEUC) — an umbrella group for 46 independent consumer organizations from 32 countries — published a report titled: “Hype or harm? The Great Social Media Crypto Con.“ In the 20-page document, the group states that consumers are not fully aware of the risks associated with crypto. Today BEUC &

Commonwealth Bank (CBA), the largest bank in Australia, has said it will decline or temporarily hold payments to cryptocurrency exchanges citing the risk of scammers. On June 8, CBA said it would decline or put a 24-hour hold on “certain payments to cryptocurrency exchanges.” The bank did not explain which exchanges would be impacted by

Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission. The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rearden in the Southern District of New

Terraform Labs co-founder and CEO Do Kwon may be subject to multiple sentences in the United States and South Korea, according to a senior South Korean prosecutor heading the investigation. It is understood that Kwon is currently serving house bail in Montenegro, after having his bail proposal granted by a Montenegro court on June 5. Both Kwon and

Trading volumes on centralized exchanges have fallen to their lowest levels in more than four years amid mounting regulatory pressure from United States regulators and lawmakers. According to a June 7 report from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month, marking the second consecutive

Messari CEO Ryan Selkis has praised a newly proposed Republican crypto bill, commenting it is a “10x improvement” on all other crypto bills introduced to the United States Congress so far. The “Digital Asset Market Structure” (DAMS) bill, introduced on June 1, proposes to establish a framework to fill the gaps in the regulatory process

SEC Chair Gary Gensler once offered to serve as an advisor to Binance in 2019, according to lawyers representing Binance and founder Changpeng Zhao, CNBC reports.  In documents filed by the SEC on June 7, attorneys from Gibson & Dunn and Latham & Watkins allege that Gensler offered to serve as an advisor to the exchange

Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May. An MPI license allows Circle to offer digital payment token services and domestic and cross-border

Binance.US removed trading services for several crypto tokens on June 7. The move follows a lawsuit filed earlier this week by the United States Securities and Exchange Commission against Binance entities and thei leadership.  “After careful consideration, Binance.US will remove selected Advanced Trading pairs on June 8, 2023 at 9 a.m. PDT / 12 p.m. EDT.

The United States District Court in Washington, D.C. issued a summons for Binance CEO Changpeng Zhao on June 7, just two days after the Securities and Exchange Commission (SEC) formally sued the exchange for alleged unregistered securities operations.  “A lawsuit has been filed against you,” the summons read. NEW: @binance CEO @cz_binance has been order to respond/answer

Former Binance.US CEO Catherine Coley, who is transparently known as “BAM CEO A” in the suit against Binance filed by the United States Securities and Exchange Commission (SEC) on June 5, has kept a low profile since her departure. However, she provided testimony to the SEC in 2022 when it was investigating the company for

In the latest episode of The Market Report, analyst and writer Marcel Pechman discusses the impact of the United States Securities and Exchange Commission lawsuit against the Binance exchange. Most likely, the U.S. population will be barred from using the international version of Binance, and those who opt for VPN services will be at risk

The United States Securities and Exchange Commission (SEC) has filed another document in its lawsuit against Binance.US, claiming investors’ funds are at risk. In the filing entered on June 5, the regulators claim that the defendants, including Binance CEO Changpeng “CZ” Zhao, BAM Management, BAM Trading and Binance, “have enriched themselves by billions of U.S.

Despite the wave of market failures in 2022, the Philippines’ financial regulator decided not to rush the legal framework on the crypto industry, earlier planned to be published late last year. However, the work on the guidelines is still going and the results could be made public this year.  Being cited by the local media

Professionals from various parts of the crypto sector have responded to the United States Securities and Exchange Commission’s (SEC) recent actions against some of the biggest crypto exchanges, Binance and Coinbase.  On June 5, the SEC filed a lawsuit against Binance for allegedly offering unregistered securities. Only a day after filing the Binance suit, the