Law Financial News

11.04 / 05:25

business Law FTX Lawyers FTX's bankruptcy lawyers and advisors pocket $32.5M in February

February’s round of legal expenses for bankrupt crypto exchange FTX has been published and it remains a scary figure for debtors.

10.04 / 07:39

Law Ripple XRP Altcoin SEC us government Court Lawyer NOT Lawyer lays out his reasoning on why XRP is not a security

Ripple’s XRP (XRP) is not a security because it does not fit the definition of an “investment contract,” the “only” legislative definition that it could “possibly” fit, according to Jeremy Hogan, a partner at the law firm of Hogan & Hogan.

10.04 / 02:57

Law regulation FTX Court Financial FTX financial controls were a ‘hodgepodge’ of apps, says court filings

FTX was run by three inexperienced people “not long out of college,” who relied on “a hodgepodge” of online shared documents and communications across a series of different apps to manage the multi-billion dollar empire according to FTX CEO John Ray III.

09.04 / 06:47

Law regulation Gold Senate bills lawmakers Backed Texas lawmakers propose a gold-backed state digital currency

Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC).

09.04 / 02:39

Law regulation SEC Decentralization DAO investigation Sushi’s head chef addresses community concerns amid SEC subpoena

Japan-based decentralized autonomous organization (DAO) Sushi's head chef Jared Grey and his counsel stated that as far as they know, no one associated with Sushi has violated U.S. federal security laws, while providing reassurance that he is cooperating with the United States Securities and Exchange Commission (SEC) subpoena.

07.04 / 20:49

business Law Decentralized Exchange transparency services Decentralized exchange dYdX announces 'winding down' of services for Canadian users

Cryptocurrency derivatives exchange dYdX has announced it will be restricting Canadian user accounts over the next seven days in a move to exit the market.

06.04 / 22:01

Government Law Stablecoin us government DeSantis is right — CBDCs will lead to absolute government control

Arguing over the prudence and implications of issuing a central bank digital currency (CBDC) in the United States has seemingly become one of Washington’s favorite icebreakers. As Congress considers the question, it is critical that Americans clearly understand and soberly consider the immense power a CBDC could grant governments as well as the unacceptable risk of that power’s potential abuse.

06.04 / 19:39

Law Robinhood regulation Trading settlement US state regulators announce $10M settlement with Robinhood ‘for failing investors’

The California Department of Financial Protection and Innovation said that the company behind cryptocurrency and stock trading platform Robinhood will likely pay more than $10 million in penalties “for operational and technical failures that harmed main street investors.”

06.04 / 14:13

Law Adoption regulation Religion Asia Middle east Financial Islam and crypto: How digital assets can comply with Islamic financial law

Islamic banking and finance is a system based on the principles of Shariah, or Islamic law, which, among many other things, prohibits the charging or paying of interest on loans and emphasizes ethical and equitable financial transactions.

06.04 / 07:19

business Law Adoption Binance CFTC us government Court Jane Street, Tower Research and Radix are Binance’s 'VIP' clients in CFTC suit: Report

Trading firms Jane Street Group, Tower Research Capital and Radix Trading have been reportedly identified as Binance’s three “VIP” clients that were cited anonymously in the recent lawsuit filed against Binance by the United States commodities regulator.

06.04 / 04:05

Blockchain Law Adoption coinbase Court Coinbase supports new court action to remove Tornado Cash ban

The United States Treasury faces a renewed legal challenge that aims to overturn the decision to sanction the crypto mixer Tornado Cash from six individuals backed by cryptocurrency exchange Coinbase.

05.04 / 17:27

Law regulation Europe ECB Crypto firms needs to be 'supervisable', says ECB board member

Elizabeth McCaul, a supervisory board member of the European Central Bank (ECB), has called for additional oversight of crypto firms operating in a borderless state outside typical attempts at supervision.

05.04 / 06:59

Law Twitter defi Hackers hacks Liquidity Allbridge to first begin repaying stuck bridge users after recouping funds

Users with funds stuck on the multi-chain token bridge provided by Allbridge are first in line to receive compensation under a recovery plan posted by the project following a recent exploit.

04.04 / 17:07

Law regulation SEC crimes SEC reaches 'agreement in principle' to resolve insider trading case of Coinbase product manager

The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading.

03.04 / 21:31

Law regulation crimes Terra South Korean authorities seize $160M in assets tied to Terra employees: Report

The Seoul Southern District Prosecutor's Office has reportedly confiscated roughly $160 million worth of assets from eight people connected to the collapse of Terraform Labs, including co-founder Daniel Shin.

03.04 / 13:07

Government Law Adoption CFTC SEC us government Unwinding the hyperbole: Are US-based crypto firms really being ‘choked’?

An extended market price drawdown (crypto winter) throughout 2022 has tested the crypto industry’s mettle, and more recently, a crackdown by United States regulators on some prominent entities like Coinbase, Binance and Kraken has further shaken the sector.

02.04 / 13:17

Government Law Stablecoin Adoption Tether Stress test? What Biden’s bank bailout means for stablecoins

The collapse of Silicon Valley Bank (SVB), which suffered a bank run after revealing a hole in its finances over the sale of part of its inflation-hit bond portfolio, led to a depegging event for major stablecoins in the crypto sector, leaving many to wonder whether it was a simple stress test or a sign of weakness in the system.

02.04 / 05:47

business Law Binance CFTC regulation security Court CZ, Binance, influencers face $1B lawsuit for unregistered securities promo

Just five days after Binance and its CEO Changpeng ‘CZ’ Zhao got sued by the United States Commodity Futures Trading Commission (CFTC) for alleged trading violations, a new $1 billion lawsuit was filed against the crypto exchange, CZ, and three crypto influencers for promoting unregistered securities.

01.04 / 13:47

business Government Law Binance CFTC SEC Binance vs. CFTC: Latest court battle could alter crypto landscape in US

Regulatory trouble is nothing new for Binance, and on many occasions, in the past, it has managed to overcome or bypass such roadblocks and eventually work with regulators.

01.04 / 04:47

Dogecoin Law Reuters Investments Tesla Court elon Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

Elon Musk and his lawyers reportedly requested a United States judge to dismiss the $258 billion lawsuit filed by investors who alleged that he operated a pyramid scheme to promote the cryptocurrency Dogecoin (DOGE).

31.03 / 21:19

Law CBDC regulation Central African Republic's Sango Project announces delay of token listing

The organization following the launch of the Central African Republic’s Sango Coin has announced a delay of its listing “just for a few weeks,” citing legal and regulatory obstacles.

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