Law Financial News
01.09 / 00:19
Law
regulation
South Korean authorities arrest 16 individuals connected to $2B crypto forex transactions: Report
Authorities with South Korea’s customs service have reportedly arrested 16 people involved in illegal foreign exchange transactions connected to crypto assets worth roughly $2 billion.
31.08 / 21:45
Law
regulation
Bitcoin
tax evasion
DC Attorney General sues Michael Saylor and MicroStrategy for tax evasion
Karl Racine, Attorney General for the District of Columbia in the United States, has announced that his office will be suing business intelligence firm MicroStrategy and its co-founder Michael Saylor for charges related to tax evasion.
31.08 / 21:35
Government
Law
Get ready for the feds to start indicting NFT wash traders
Studies show that most people who attempt to wash trade nonfungible tokens (NFTs) are unprofitable. But that doesn’t stop them from trying, which makes it a glaring regulatory and enforcement issue for the industry.
31.08 / 20:11
Law
Scams
Cryptoqueen
Extradition
Accomplice of 'Cryptoqueen' Ruja Ignatova faces extradition to US: Report
Christopher Hamilton, a British national allegedly connected to Cryptoqueen’ Ruja Ignatova’s cryptocurrency scheme OneCoin, reportedly faces extradition to the United States on charges related to a scam going back to 2014.
31.08 / 01:37
Government
Blockchain
Law
Adoption
President of Paraguay vetoes crypto regulation law
Paraguay's president, Mario Abdo Benítez, vetoed a bill that sought to recognize cryptocurrency mining as an industrial activity on Monday. He reasoned that mining's high electricity consumption could hinder the expansion of a sustainable national industry.
30.08 / 23:59
Government
Law
regulation
lawmaker
index
Crypto 'cannot be partisan,' says US lawmaker who scored negative on bipartisanship index: Report
United States House of Representatives member Tom Emmer has reportedly suggested that regulating and encouraging innovation in the crypto space should not be a political win for either Democrats or Republicans.
30.08 / 17:29
Government
Technology
Law
Crypto developers should work with the SEC to find common ground
Regulators are tasked with balancing between protecting consumers and creating environments where entrepreneurs and the private sector can thrive. When markets face distortions, perhaps due to an externality or information asymmetry, regulation can play an important role.
30.08 / 00:57
business
Blockchain
Law
Ava Labs
Lawyer
Lawyer Roche alleges statements he made about Ava Labs are false, the result of intoxication
Kyle Roche, the lawyer at the center of allegations made by website Cryptoleaks about a secret agreement between his firm and Ava Labs, responded Monday in a post on Medium. Like Ava Labs CEO Emin Gün Sirer, Roche denied the existence of any secret agreement between the parties.
29.08 / 17:55
business
Law
Court
Where in the world are the 3AC founders? Speculations abound
The creators of Three Arrows Capital are missing, according to reports, when court-appointed liquidators visited the firm's Singapore headquarters recently, all they discovered was a locked door and a stack of outdated mail.
29.08 / 16:37
Government
Law
Adoption
Bitcoin
Future
What the Taliban crackdown means for crypto's future in Afghanistan
With the rise of the Taliban last year in August, Afghanistan faced global sanctions that led to many international organizations and money transaction services halting operations in the country. This made room for digital currencies and stablecoins to be widely used, at least to send or receive remittances.
26.08 / 22:44
Government
Law
regulation
Regulators have a weak case against FTX on deposit insurance
In a cease-and-desist letter to fast-growing crypto exchange FTX, the Federal Deposit Insurance Corporation (FDIC) shed light on a now-deleted tweet from the exchange’s president, Brett Harrison, and issued a stark warning over the company’s messaging.
26.08 / 22:43
Law
Binance
regulation
Binance froze $1M corporate account due to law enforcement request
Major crypto exchange Binance has confirmed it restricted account access to $1 million in crypto for a Tezos tool contributor after being called out on social media.
25.08 / 07:57
business
Law
YouTube
'Atozy you've won' — Bitboy drops lawsuit after $200K defense raised
Ben Armstrong, the man behind Bitboy Crypto said that he is dropping the defamation suit against fellow Youtube content creator Erling Mengshoel Jr., who goes by the name Atozy.
24.08 / 16:29
Law
regulation
wallet
FDIC-FTX spat is another reason for investors to self-custody their funds
Searching for more evidence that self-custody of your cryptocurrency holdings beats a centralized manager? Look to the latest action by the Federal Deposit Insurance Corporation (FDIC).
24.08 / 12:59
23.08 / 23:07
Law
regulation
lending
Bankruptcy
Celsius calls out Prime Trust in court, alleging firm didn't turn over $17M in crypto
Crypto lending platform Celsius Network has filed a lawsuit claiming that custodian Prime Trust failed to turn over roughly $17 million worth of cryptocurrency.
23.08 / 19:45
Law
SEC
coinbase
security
Plaintiff in Coinbase lawsuit raises issues of account lockouts, crypto as a security
One user has filed a class-action lawsuit against crypto exchange Coinbase on behalf of account and wallet holders “who have had their accounts breached and incurred losses arising from the unauthorized transfer of assets.”
23.08 / 18:31
Law
regulation
SEC
CFPB
regulatory
Certain regulatory clarity could be 'hugely detrimental' for crypto, says former CFPB director
Kathy Kraninger, former director of the United States Consumer Financial Protection Bureau, or CFPB, said while many in crypto have complained about the lack of regulatory clarity in the country, the legal gray area has afforded the industry opportunities.
23.08 / 17:59
business
Law
Adoption
saga
Tornado Cash saga highlights legal issues affecting the crypto market
Things have not been looking too good for the crypto market in recent months, with the market seemingly being gripped by one piece of bad news after another. To this point, on Aug. 8, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued legal sanctions against digital currency mixer Tornado Cash.
22.08 / 23:09
Law
regulation
security
Prosecutors want to claim NFTs as securities, alleges legal team of former OpenSea employee
Lawyers representing Nathaniel Chastain, the former OpenSea product manager accused of insider trading, have claimed United States authorities only filed charges in an attempt to set a legal precedent that nonfungible tokens (NFTs) are securities.
19.08 / 16:57
Government
Law
us government
Biden is hiring 87,000 new IRS agents — and they're coming for you
The Inflation Reduction Act, signed into law this month by President Joe Biden, empowers the IRS with nearly $80 billion in new funds. The world’s most powerful tax collection agency is using the money to go on a hiring spree to fuel much tougher enforcement efforts.
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