Law Financial News
23.08 / 16:11
business
Blockchain
Law
Ethereum
Telegram
Scams
Multichain
Exploit
Multichain victims search for answers in $1.5B exploit as new evidence emerges
On July 14, developers of the $1.5-billion Chinese cross-chain protocol Multichain confirmed users’ worst fears. The protocol’s CEO, identified only as “Zhaojun He,” was arrested by Chinese authorities in Kunming on May 21 after months of repeated denials on official communication channels. Also allegedly arrested was Multichain’s core team, which was operating in Shanghai.
23.08 / 13:57
Law
Adoption
regulation
Europe
European Union
Smart Contracts
EU Data Act smart contract ‘kill switch’ brings uncertainty
On June 28, the European Council and Parliament achieved a political consensus on the Data Act, which moves the legislation regarding non-personal data closer to fruition.
23.08 / 06:05
business
Law
regulation
Fraud
FTX
Court
Prison
Fried
Sam
Low
Sam Bankman-Fried is low on meds, living on $3 peanut butter in prison
FTX founder Sam Bankman-Fried has seemingly been doing it tough behind bars, eating only bread with peanut butter to accommodate his vegan diet, while exhausting his supply of prescription medication.
22.08 / 22:07
Law
NFT
regulation
crimes
Court
Opensea
Prison
Fine
OpenSea manager accused of insider trading sentenced to 3 months in prison, $50K fine
A federal judge has sentenced former OpenSea product manager Nathaniel Chastain to three months in prison for wire fraud and money laundering related to insider trading on the platform.
22.08 / 13:45
Law
Adoption
regulation
education
Scams
Police
Crypto P2P scams in India show digital asset education is needed
Peer-to-peer (P2P) cryptocurrency trading has been a staple of the cryptocurrency community since the industry’s early days.
21.08 / 22:11
Law
regulation
FTX
Court
Lawyers
Fried
Sam
Sam Bankman-Fried will get one day in court to meet with lawyers
A federal judge overseeing former FTX CEO Sam Bankman-Fried’s criminal case has issued an order allowing Sam Bankman-Fried to meet with his legal team outside of jail for roughly seven hours.
20.08 / 18:09
business
Law
Mining
Court
Bitcoin
Gryphon Digital seeks court dismissal of Sphere 3D's lawsuit
Crypto miner Gryphon Digital is seeking dismissal from a lawsuit brought by its former partner Sphere 3D over a spoofing attack that resulted in 26 Bitcoins (BTC) being transferred to a fraudulent address.
19.08 / 08:29
business
Blockchain
Law
FTX
Fried
Sam
Sam Bankman-Fried requests weekday freedom for legal defense work
Seven days following the Department of Justice's bail revocation for disgraced FTX founder Sam Bankman-Fried, he is now seeking permission to spend five weekdays outside to collaborate with his legal team on his defense case.
18.08 / 05:27
business
Law
regulation
lending
Court
Crypto firm Helio Lending gets bond sentence over false license claims
Australia-based crypto lender Helio Lending has been sentenced to a non-conviction good behavior bond for a year for falsely claiming it had a local credit license.
17.08 / 15:11
business
Blockchain
Law
FTX
settlement
FTX seeks $175M settlement with Genesis entities to resolve dispute
FTX, the troubled cryptocurrency exchange, and its CEO John J. Ray III have filed a motion seeking to reach a settlement of $176 million with Genesis entities.
17.08 / 13:51
business
Law
Stablecoin
Adoption
PayPal
Tether
Usd Coin
PayPal’s stablecoin opens door for crypto adoption in traditional finance
Global payment processing giant PayPal announced its United States dollar-pegged payment stablecoin called PayPal USD (PYUSD) on Aug. 7.
17.08 / 11:01
Law
Art
NFT
Auction
Sotheby’s and Yuga Labs respond to lawsuit from Bored Ape investors
Fine arts auction house Sotheby’s has recently been named in the class-action lawsuit filed by Bored Ape Yacht Club (BAYC) investors against BAYC creators Yuga Labs. The investors allege that the auction house helped Yuga Labs “deceptively promote” the nonfungible token (NFT) collection.
16.08 / 22:49
Law
regulation
CoinSmart president says crypto taxes are a ‘little bit more favorable’ outside US
Jeremy Koven, the president of Canada-based crypto exchange CoinSmart and president at WonderFi, pointed to areas of concern for crypto firms in the United States looking for regulatory clarity and favorable tax policy.
16.08 / 19:45
Law
Binance
regulation
SEC
Court
Binance.US request for protective order against SEC goes to magistrate judge
A federal judge overseeing the civil case between the United States Securities and Exchange Commission (SEC) and cryptocurrency exchange Binance, Binance.US and Binance CEO Changpeng Zhao has ordered a motion for a protective order to go to a magistrate judge.
16.08 / 12:01
16.08 / 04:03
Law
regulation
FTX
Sam
Caroline Ellison’s list of ‘Things Sam Is Freaking Out About’ could be used in trial
Prosecutors intend to use personal notes and diary entries from former Alameda Research CEO Caroline Ellison as evidence against FTX co-founder Sam Bankman-Fried at his criminal trial.
15.08 / 13:29
Law
regulation
European Union
China’s new AI regulations begin to take effect
China’s provisional guidelines for artificial intelligence (AI) activity and management in the country are scheduled to come into effect on Aug. 15.
15.08 / 12:41
Law
regulation
Mining service provider faces $100M lawsuit over pyramid scheme allegations in China
Five executives from a Filecoin mining service are facing a lawsuit at the People's Court of Pingan County in China, over allegations that they pilfered millions of dollars and left investors in ruin.
15.08 / 02:04
business
Law
Adoption
ETF
SEC
us government
Bitcoin
Grayscale Bitcoin ETF
week
Grayscale Bitcoin ETF decision could happen this week, pundits say
Grayscale Investments, which has been seeking to convert its Bitcoin (BTC) trust into a spot Bitcoin exchange-traded fund, could be getting a decision on its lawsuit against the federal securities regulator before the week’s end.
14.08 / 15:09
Government
Law
Adoption
regulation
us government
Crypto adoption crosses party lines amid Washington’s political deadlock
Crypto’s legitimacy and adoption have increased in recent years, and along with the uptick in use, the tech has become a topic of political divisiveness, resulting in a perception of partisanship — especially in the United States.
14.08 / 02:11
Law
Adoption
regulation
SEC
Bitcoin
This scenario could spark Gary Gensler’s resignation: Former SEC official
The United States’ securities regulator could completely u-turn its approach to crypto enforcement, depending on a key election in the United States in 2024, according to former SEC official John Reed Stark.
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