Law Financial News

18.10 / 07:45

business Law Bankruptcy 3AC liquidators seek ‘alternative means’ to subpoena missing founders

Liquidators for Three Arrows capital (3AC) have asked a U.S. court to grant them permission to subpoena the embattled crypto hedge fund's founders through “alternative means.”

18.10 / 05:57

Law defi Hackers hacks Mango Markets exploiter said actions were ‘legal,’ but was it?

The $117 million Mango Markets exploiter has defended that their actions were ‘legal,’ but a lawyer suggests that they could still face consequences.

17.10 / 17:44

business Government Law What new EU sanctions mean for crypto exchanges and their Russian clients

Nine months into the conflict between Ukraine and Russia, sanctions against the latter have continued to grow at an aggressive pace. This time around, legislators for the European Union announced that they are introducing a complete ban on all cross-border crypto payments between Russia and its citizens.

17.10 / 05:51

Law CFTC regulation retail Fried Bankman-Fried '100%' supports knowledge tests for retail derivatives traders

The founder and CEO of cryptocurrency exchange FTX, Sam Bankman-Fried has backed the idea of knowledge tests and disclosures to protect retail investors but said it shouldn’t just be crypto-specific.

17.10 / 03:43

Government Law CFTC SEC CFTC action shows why crypto developers should get ready to leave the US

Considerable anxiety exists in the world of Web3 related to regulation and the legal status of cryptocurrency projects. It’s particularly apparent in the United States, where the Commodity Futures Trading Commission (CFTC) fueled concerns in September with an announcement that it was imposing a $250,000 fine on a decentralized autonomous organization (DAO), Ooki DAO, and its investors. The fine was particularly ominous, considering DAOs are intended to be “regulation proof.”

16.10 / 21:47

Government Law stake KYC to stake your ETH? It's probably coming to the US

Over the last few years, the cryptocurrency industry has been a primary target for regulators in the United States.

15.10 / 22:04

Government Law Time It’s time for the feds to define digital commodities

This month, the European Union (EU) agreed on the text for a unified licensing regime for cryptocurrency exchanges to operate across the EU bloc as part of its Markets in Crypto Assets Regulation (MiCA). The United States — despite being a traditional global leader in legal frameworks for technological innovation — has not provided that same regulatory clarity.

13.10 / 22:20

Law regulation SEC Congress lawmaker US lawmaker says crypto regulation from SEC is 'needed now'

John Hickenlooper, a United States Senator representing Colorado, has penned a letter to Gary Gensler urging the Securities and Exchange Commission chair to establish “clear rules” for the crypto market.

05.10 / 06:37

Law Ethereum SEC Federal regulators are preparing to pass judgment on Ethereum

Are regulators with the U.S. Securities and Exchange Commission gearing up to take down Ethereum? Given the saber-rattling by officials — including SEC Chairman Gary Gensler — it certainly seems possible.

04.10 / 22:25

Law CFTC regulation CFTC can issue summons through Ooki DAO's help chat box, says judge

The United States Commodities Futures Trading Commission can serve members of the Ooki decentralized autonomous organization, or DAO, with summons through online communications, according to a federal judge.

04.10 / 02:45

Law SEC Influencer The SEC is bullying Kim Kardashian, and it could chill the influencer economy

The Securities and Exchange Commission announced on Oct. 3 that Kim Kardashian settled an allegation that she promoted “a crypto asset security offered and sold by EthereumMax without disclosing the payment [of $250,000] she received for the promotion.” While she cooperated and closed the case with $1.26 million in penalties, the charge highlights the liability that “influencers” increasingly face as a result of an activist SEC that has failed to establish regulatory clarity.

03.10 / 19:25

Government Law regulation Japanese prime minister says gov't investment in digital transformation will include Metaverse, NFTs

Fumio Kishida, the prime minister of Japan since 2021, has said the government will be making efforts to promote Web3 services, including those dealing with nonfungible tokens, or NFTs, and the Metaverse.

02.10 / 00:25

Law CFTC Scams regulatory California fraud cases highlight the need for a regulatory crackdown on crypto

The California Department of Financial Protection and Innovation (DFPI) announced last month that it had issued desist and refrain orders to 11 entities for violating California securities laws. Some of the highlights included allegations that they offered unqualified securities as well as material misrepresentations and omissions to investors.

01.10 / 03:41

Law defi Gaming The feds are coming for the metaverse — from Axie Infinity to Bored Apes

The metaverse is a futuristic iteration of the internet, featuring a digital economy and an immersive virtual environment alongside other interactive features. This relatively nascent space has gained so much traction in recent years that conservative estimates suggest that by 2024, its total valuation could top $800 billion. Meta (the parent body behind Facebook and Instagram), Google, Microsoft, Nvidia, Nike and others have made Fortune-100-sized metaverse splashes.

30.09 / 05:01

Government Law Europe Us Crypto Regulation The 'Brussels Effect' wields real influence over US crypto regulation

The right to privacy is enshrined in many legal traditions around the world. In the United States, it’s protected by the Fourth Amendment; in the European Union, it falls under Article 8 of the European Convention for Human Rights. While definitions differ between jurisdictions, most of us have a right to a reasonable expectation of privacy for our correspondence, in our homes and about our persons.

29.09 / 09:07

Law regulation security Terra WSJ: Terraform Labs claims case against Do Kwon is ‘highly politicized’

Terraform Labs, the company behind the development of the Terra (LUNA) blockchain said South Korea’s case against its co-founder Do Kwon has become political, alleging prosecutors expanded the definition of a security in response to public pressure.

29.09 / 02:49

Government Law Framework Biden’s cryptocurrency framework is a step in the right direction

The White House released its first comprehensive framework this month for the Responsible Development of Digital Assets following President Joe Biden’s March 9 executive order. The order called for regulators to assess the industry and develop recommendations to safeguard investors while simultaneously promoting innovation. While more work is needed, the framework is a step in the right direction as it shows the willingness of regulators to provide the industry with the much-needed regulatory clarity it seeks.

29.09 / 00:27

Law regulation Cybersecurity lawmakers US lawmakers US lawmakers propose amending cybersecurity bill to include crypto firms reporting potential threats

United States Senators Marsha Blackburn and Cynthia Lummis have introduced proposed changes to a 2015 bill that would allow “voluntary information sharing of cyber threat indicators among cryptocurrency companies.”

28.09 / 01:35

Law regulation Congress lawmaker Time NOT regulatory 'Time is not on our side' to provide regulatory clarity on crypto, says US lawmaker

New Jersey Representative Josh Gottheimer said that United States lawmakers needed to pass legislation clarifying regulators’ role over crypto or risk companies taking their business abroad.

28.09 / 01:35

Law Ethereum IRS Tax on income you never earned? It’s possible after Ethereum’s Merge

After much buildup and preparation, the Ethereum Merge went smoothly this month. The next test will come during tax season. Cryptocurrency forks, such as Bitcoin Cash, have created headaches for investors and accountants alike in the past.

28.09 / 01:35

Law regulation Cybercrime Training Binance Global Law Enforcement Training Program is official after year of activities

Binance announced the existence of its Global Law Enforcement Training Program in a blogpost on Sept. 27. The creation of the program could be considered retroactive, since the company’s investigations team has been holding workshops for law enforcement for the past year.

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