Law Financial News

12.11 / 10:03

business Law FTX Bankruptcy FTX files billion-dollar lawsuit against ByBit over asset withdrawals

The FTX bankruptcy estate, headed by CEO John J. Ray III, has filed a lawsuit against ByBit, its investment arm Mirana, and various executives. The aim is to recover funds and digital assets that ByBit withdrew from FTX just before its collapse, with the current value close to $1 billion.

12.11 / 04:21

business Law Adoption FTX Bankruptcy Ex-FTX execs team up to build new crypto exchange 12 months after FTX collapse: Report

Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds.

11.11 / 13:11

Law regulation Tokens Indian Government Indian Supreme court rejects crypto petition, highlights legislative nature

The Indian Supreme Court declined to consider a Public Interest Litigation (PIL) that aimed to establish regulations and a framework of guidelines for cryptocurrency trading in India.

10.11 / 15:13

Law regulation Court Bitcoin Genesis seeks court's approval to reduce 3AC claim from $1B to $33M

Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with the imploded crypto hedge fund Three Arrows Capital (3AC).

10.11 / 01:59

Law regulation Europe European Union Smart Contracts EU backs Data Act with clause to shut off smart contracts

The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated.

10.11 / 01:33

Law regulation Scams Fraud Cryptoqueen’s OneCoin legal chief pleads guilty to fraud

The former compliance chief of OneCoin — a 2015 crypto scheme that defrauded investors out of $4 billion — has pleaded guilty to wire fraud and money laundering charges in Manhattan federal court.

09.11 / 13:13

Blockchain Technology Law regulation Tether legislation U.S. lawmakers introduce CLARITY Act to limit federal ties with Chinese blockchain

U.S. Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies.

09.11 / 04:19

business Law Binance regulation SEC Court Binance used ‘tortured’ interpretation of law in bid to toss suit, says SEC

Binance’s arguments used in its motion to dismiss a lawsuit from the United States securities regulator relies on an incorrect legal analysis and have no basis in law, the regulator has argued.

08.11 / 14:19

Law CFTC regulation ‘Premier’ crypto cop CFTC reveals record-setting digital asset enforcement in 2023

The United States Commodity Futures Trading Commission (CFTC) has unveiled its enforcement outcomes for fiscal year (FY) 2023. It highlights a historic surge in digital asset cases, actions to enforce regulatory obligations for registrants, manipulation and spoofing cases and groundbreaking court decisions in intricate legal disputes.

08.11 / 09:09

Law regulation UAE central bank to penalize unlicensed virtual asset service providers

The Central Bank of the United Arab Emirates (CBUAE), along with other regulators in the country, has recently published new joint guidance for virtual asset service providers (VASPs) operating within the country. The new guidelines include penalties for VASPs operating without proper licenses within the jurisdiction.

07.11 / 23:45

Government Law regulation Analysis us government Opinion Confiscation Expect new IRS crypto surveillance to come with a surge in confiscation

As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billion new returns, it seems the Department of Justice (DOJ) may soon have the tools it wants to start confiscating cryptocurrency at an unprecedented rate.

07.11 / 13:15

Law Adoption regulation FTX exchanges Court Multiple buyers consider purchase and relaunch of ‘irreparable’ FTX

Lawyers handling the FTX bankruptcy case are considering offers that could eventually lead to a relaunch of the troubled exchange.

07.11 / 02:27

business Law regulation SEC US lawmaker proposes to cut SEC chair Gary Gensler’s salary to $1

A United States lawmaker wants to strip the Securities and Exchange Commission chair Gary Gensler of his salary by paying him just $1 per year.

06.11 / 22:23

Law copyrights Analysis Scams Opinion ChatGPT play Scammers play a long game using bogus, AI-backed 'law firm'

A new artificial intelligence-backed scam is as multi-faceted and lengthy as it is unconvincing — at least for would-be victims who dig below the surface.

04.11 / 11:25

business Law coinbase Tokens Coinbase user agreement dispute reaches US Supreme Court

The United States Supreme Court has taken up a legal dispute concerning Coinbase and its users, specifically addressing a significant procedural matter on whether a judge or an arbitrator should decide which contract governs disputes.

04.11 / 06:19

Law defi Hackers regulation Court Trial Fraud trial of Mango Markets exploiter behind alleged $116M theft pushed to April

Lawyers representing the $116 million Mango Markets exploiter have convinced a judge to postpone the fraud trial until April 8, 2023.

02.11 / 20:37

Blockchain Law NFT regulation email This platform enables NFT creation with email: Why it’s important for legal teams

On top of the fraud and scam issues related to crypto, NFTs also require intellectual property management. Web3 platform Niftyz aims to add legal clarity to the NFT market by using blockchain-verified emails to create and protect NFTs.

02.11 / 11:49

Law regulation Tokens Digital Asset Hong Kong issues rules for asset tokenization as interest mounts

The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenization.

02.11 / 09:41

Law Ripple regulation SEC Tokens Ripple’s legal chief questions SEC case losses under Gensler

Ripple chief legal officer Stuart Alderoty has expressed reservations about the recent string of legal defeats suffered by the United States Securities and Exchange Commission during Gary Gensler’s tenure. These remarks follow another setback for the SEC in the Fifth Circuit Court after Ripple’s victory in the XRP lawsuit in July 2023.

01.11 / 07:11

business Law Google copyrights Media OpenAI AI chatbots are illegally ripping off copyrighted news, says media group

Artificial intelligence developers heavily rely on illegally scraping copyrighted material from news publications and journalists to train their models, a news industry group has claimed.

01.11 / 02:25

business Law regulation SEC crimes Court Taxes tax evasion Oyster Protocol founder gets 4 years jail for $5.5M tax evasion

Amir Bruno Elmaani, the 31-year-old founder of the now-defunct cryptocurrency scheme Oyster Protocol has been handed the maximum sentence of four years in prison for tax evasion.

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