Regulation & Law

Ethereum firm Consensys continues its legal battle with the SEC for clear crypto regulations, despite the regulator ending its Ethereum 2.0 probe.

Ethereum’s market value rises following SEC’s decision to end its investigation, boosting investor confidence.

David Hirsch, the SEC’s crypto unit leader, steps down amid heightened scrutiny on cryptocurrency regulation.

Ripple Labs Inc. seeks a reduced fine from the SEC, arguing for a penalty similar to Terraform Labs’ settlement.

Terraform Labs and ex-CEO Do Kwon to pay billions in SEC fraud settlement, marking one of the largest penalties in U.S. history.

Judge orders SEC to pay legal fees in dismissed DEBT Box case.

US House greenlights major crypto bill, setting stage for Senate debate.

SEC Chair Gary Gensler has expressed strong opposition to the FIT21 Act, a bill set to regulate digital assets, citing concerns over investor protection.

23-year-old Rui-Siang Lin could face life in prison for running a $100M dark web drug market

Binance CEO demands freedom for compliance officer held on illegal transaction charges in Nigeria.

Cryptocurrency figure Roger Ver faces extradition to the U.S. on tax evasion and fraud charges.

Changpeng Zhao receives a 4-month prison term and a $50 million fine for laundering violations.

Wasabi and Phoenix wallets halt US services due to increasing regulatory scrutiny.

Keonne Rodriguez, co-founder of Samourai Wallet, was released on bond after denying money laundering charges.

Consensys lawsuit unveils SEC’s internal suspicion of Ethereum as a security, challenging prior CFTC commodity designation.

Software firm Consensys seeks court ruling to stop SEC from classifying Ethereum as a security.

Samourai Wallet creators face money laundering and illegal business operation charges.

Changpeng Zhao, the former CEO of Binance, may receive a 3-year sentence and $50M fine for anti-money laundering violations.

Ripple challenges SEC’s penalty, arguing for a reduced $10 million fine in a legal dispute.

Cryptocurrency giant Binance converts $1B safety fund to USDC, signaling a strategic move to enhance transparency and re-enter the Indian market.

New legislation aims to enhance financial stability by imposing strict rules on stablecoin issuers.

City’s inaugural Bitcoin ETF approval spurs price surge, signaling crypto investment growth.

Disgraced FTX founder Sam Bankman-Fried challenges his prison term and seeks New York confinement during the appeal.

Ex-FTX leaders agree to $1.35M payout in class action settlement after founder’s sentencing.

KuCoin’s $10 million airdrop aims to retain users despite DOJ and CFTC charges.

Bankman-Fried plans to appeal the conviction and sentence.

Sam Bankman-Fried’s legal team argues for a lighter prison term, criticizing the 100-year recommendation as excessive.

“Terrorists” still prefer to use traditional finance products, according to U.S. Treasury’s Brian Nelson.

Over 1,000 crypto firms will have to complete their applications by Nov. 17 to avoid regulatory consequences.

The joint study aims to create the infrastructure for issuing regulatory-compliant stablecoins for improved cross-border settlement.

The central bank expects to release the final set of regulations by 2025.

Bankman-Fried’s sentencing hearing is scheduled for March 28, 2024.

The registration enables PayPal to advertise its crypto services to U.K. customers.

Bankman-Fried trial nears end: defense claims good faith as prosecution alleges misuse of funds.

This marked Bankman-Fried’s fourth and final day of testimony before Wednesday’s closing arguments.

Prosecutors pointed out inconsistencies in Bankman-Fried’s public statements before FTX collapsed in a four-hour grilling.

The U.K. intends to introduce rules on fiat-backed stablecoins in early 2024, according to the government’s latest cryptocurrency policy update published on Monday.  See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast Facts See related article: Blockchain tech in Thailand gets boost from new pro-crypto lead

Taiwan’s new bill mandates crypto platform permits, addressing self-regulation gaps.

The lawsuit alleges that the companies defrauded over 230,000 investors.

The new data sharing rules will go into effect 20 days after their publication in the Official Journal.

The exchange added that it will also stop releasing new products and services in the country.

The Australian Department of the Treasury said it will accept feedback on the draft bill by December.

Bahamian Prime Minister Philip Davis said the island nation will continue to be a pioneer in the digital asset space.

FTX’s collapse and the crypto winter helped regulators familiarize themselves with the rapidly evolving crypto industry, said Christina Rolle of the Bahamas Securities Commission.

The regulator said that DeFi doesn’t pose a risk to financial stability, due to its small size, but said it needs to be monitored in the future.

The congressional committee accused Changpeng Zhao and three other executives, along with 45 individuals, of running a financial pyramid scheme in the country.

The committee said fraudulent non-fungible token advertising could harm both NFT artists and investors.

Gary Wang, co-founder and former chief technology officer of cryptocurrency exchange FTX, testified on Friday that Alameda Research, the sister trading firm of the exchange, had a special line of credit of up to US$65 billion from FTX, that allowed the firm to spend US$8 billion of customer funds. See related article: Little-known FTX co-founder […]

The European Securities and Markets Authority (ESMA) is seeking feedback on the second consultation paper on the Markets in Crypto-Assets (MiCA) bill, published on Thursday.  See related article: Binance ICO raised less than US$5 mln: Forbes Fast Facts See related article: What Europe’s new spot Bitcoin ETF means for global markets

Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles

The JPEX scandal sheds light on the vulnerabilities in Hong Kong’s crypto marketplace, prompting reflection on regulatory safeguards as the city aspires to be a global digital asset hub, former SFC regulator Angelina Kwan says.

Top blockchain and crypto news: U.S. SEC steps up regulatory enforcement. Gaming giant Zynga moves into NFTs. Woes ahead for JPEX exchange after HK arrests.

Billed as Asia’s largest crypto event, Token 2049 took place over Sept. 13-14 in the Southeast Asian city-state of Singapore. Drawing over 10,000 attendees from all parts of the world, there was excitement about blockchain adoption in the region. But repeat references to one man were a reminder of the U.S. regulatory concerns weighing heavily on the crypto industry.

FTX’s former CEO, Sam Bankman-Fried, faces DOJ scrutiny with seven charges. Here are the six key figures in the coming crypto courtroom showdown.

The gates are opening for ordinary investors to buy into real-world assets like rare art and fancy real estate. But regulations and compliance hurdles remain.

The annual Korea Blockchain Week conference in Seoul is running from Sept. 4 to 10. Crypto industry leaders and advocates from around the world have gathered in the South Korean capital to discuss all things blockchain, including the growing regulatory gap between the U.S. and Asia.

The general public does not know this yet, but there is no longer any doubt that a Bitcoin spot ETF will come to the US market, writes Charlie McGlynn of XREX. It’s just a matter of when.

Blockchain innovation in the U.S. could suffer from over-regulation of the crypto industry, cybersecurity expert Carole house said.

A U.S. district court on Wednesday dismissed charges against a group of five firms for alleged securities violations on the Uniswap DeFi platform.

The Hong Kong branch of SEBA Bank has received an in-principle approval from regulators to provide virtual asset trading services in the jurisdiction.

The U.S. SEC charged Impact Theory, a Los Angeles-based media and entertainment company, on Monday with offering unregistered securities in the form of NFTs.

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

SEC seeks to appeal a court ruling in July that the programmatic sale of Ripple’s XRP cryptocurrency did not qualify as sales of financial securities.

Moves by big financial institutions into digital assets are worrisome to crypto purists, but it could be just what crypto needs to shake off its doldrums, writes Konstantin Horejsi of Blocktrade.

Officials at the U.S. Department of Justice (DOJ) are considering fraud charges against Binance, according to news site Semafor.

Shanghai plans to build a blockchain infrastructure by the end of 2025 and establish links with Hong Kong and Singapore.

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.

Judge Analisa Torres ruled on Thursday that Ripple Labs’ programmatic sales of the XRP cryptocurrency did not qualify as the offer and sale of investment contracts.

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.