7 / 23 Relevant items tagged with #LEGAL
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20-Year Prison Sentence Looms for Man Accused of Crypto Money Laundering Scheme
[Oct 18, 2024 6:30 AM] A North Carolina man has been indicted for allegedly laundering more than $380,000 in a wire fraud scheme, according to the Department of Justice. The suspect is accused of moving illicit funds through payment platforms and cryptocurrency…
US Sends Crypto Promoter to Prison for 20 Years in Multi-Million Dollar Ponzi Scheme
[Oct 17, 2024 6:30 AM] A cryptocurrency promoter was sentenced to 20 years in prison for running a Ponzi scheme that defrauded thousands of investors, particularly in Spanish-speaking U.S. communities. The scheme, disguised as a crypto mining operation, promised…
US Prosecutors Seek Reduced Sentence for Bitfinex Hacker Ilya Lichtenstein
[Oct 16, 2024 2:42 PM] U.S. prosecutors are requesting a reduced sentence for Ilya Lichtenstein, the mastermind behind the 2016 Bitfinex bitcoin heist, citing his significant cooperation in recovering stolen assets. Lichtenstein faces sentencing for stealing 120,000…
Smart Contracts Achieve Legal Breakthrough in Argentina
[Oct 14, 2024 10:30 PM] Smart contracts, the blockchain-automated programs, are now legal in Argentina after local jurisdiction recognized the enforceability of the first one. They can now be used to execute rental agreements, purchase payments, and other legal contracts…
Ripple CEO Slams SEC for Ignoring XRP Ruling, Claims Agency Oversteps Legal Authority
[Oct 14, 2024 12:30 AM] Ripple’s CEO has intensified criticism of the U.S. Securities and Exchange Commission (SEC), accusing the agency of ignoring a court ruling that XRP is not a security and overstepping its legal bounds. His remarks came after Bitnomial…
Ripple Fires Back at SEC: Cross-Appeal Seeks to Overturn Unresolved XRP Issues
[Oct 12, 2024 11:30 PM] Ripple has escalated its legal battle with the U.S. Securities and Exchange Commission (SEC), filing a cross-appeal to challenge unresolved issues around XRP sales. This comes after the SEC sought to overturn parts of the rulings that cleared…
Prosecutors Recommend 18-Month Prison Term for Heather Morgan in Bitfinex Hack Case
FTX's Salame Hoped Dog Bite Would Delay Prison, But Tucker Carlson Derailed Effort
[Oct 11, 2024 2:58 PM] Former FTX executive Ryan Salame, convicted of violating U.S. election laws in his contribution of millions of dollars in the previous congressional elections, has been rebuffed in an 11th-hour attempt to delay his prison sentence to treat a dog…
Brazilian Authorities Launch Operation Targeting Entities Facilitating Crypto Money Laundering
[Oct 10, 2024 9:34 PM] The Brazilian Federal Police launched Operation Alcacaria this Wednesday, aiming to thwart the action of a network focused on providing money laundering services using cryptocurrency. The operation involved 62 search warrants, 13 arrest warrants…
DC Circuit Court Rules Kalshi’s US Election Bets Legal
[Oct 5, 2024 8:46 PM] This week, the U.S. Court of Appeals for the District of Columbia Circuit has ruled in favor of the predictions market Kalshi, allowing the commodities exchange to offer event contracts based on the outcome of U.S. congressional elections. Circuit…
DOJ Charges 21-Year-Old in $37M Cyber Intrusion and Crypto Heist
[Oct 4, 2024 2:30 AM] A 21-year-old from Indiana has pleaded guilty to cyber intrusion and cryptocurrency theft in a massive scheme targeting hundreds of victims. His actions involved stealing personal data and cryptocurrency worth over $37 million, with law enforcement…
Swan Bitcoin Alleges Ex-Employees Conspired to Steal Mining Business
Tornado Cash Loses Motion to Dismiss
[Sep 27, 2024 1:52 PM] The judge in the Tornado Cash case delivered an oral ruling today, rejecting both the Defense’s motion to compel discovery and their motion to dismiss the charges. This represents a massive setback for the Defense, and the judge’s reasoning may not…
NY Judge Denies Tornado Cash Developer’s Motion to Dismiss, Trial Set for December
[Sep 27, 2024 12:30 PM] Roman Storm, a software developer of Tornado Cash, is headed to trial after a New York judge ruled against his motion to dismiss criminal charges. District Judge Katherine Polk Failla rejected Storm’s request to drop charges tied to money…
Court questions SEC’s ‘vacuous’ denial of Coinbase rulemaking petition
[Sep 24, 2024 5:50 AM] In 2022, Coinbase asked the SEC to propose and adopt rules to govern crypto, including clarification on which crypto assets are securities.
Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy
[Sep 19, 2024 9:10 PM] Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors…
Samourai Developers Appear Together In Court For First Time At Status Conference
[Sep 17, 2024 10:59 PM] Today, Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill appeared together in court in the Southern District of New York for a status conference. This was the first time the two made a public appearance together since the US…
UK Court Recognizes USDT as ‘Distinct Form of Property’
[Sep 15, 2024 11:15 PM] A High Court of England and Wales has ruled that stablecoin tether (USDT) is recognized as property under English law. The court clarified that cryptocurrencies, despite not being physical assets, can be treated similarly to tangible and intangible…
Indian Court Bars Police From Freezing Entire Bank Accounts in Crypto Fraud Probes
[Sep 15, 2024 4:11 PM] An Indian High Court has ruled that police cannot freeze entire bank accounts during fraud investigations. Only fraud-related amounts in bank accounts can be frozen. The decision followed a case where an account was frozen due to a cryptocurrency…
Former Alameda CEO Caroline Ellison Requests Leniency, Asks for No Prison Sentence
[Sep 14, 2024 6:30 PM] Caroline Ellison, the former CEO of Alameda Research, is seeking leniency in her sentencing for her role in the FTX fraud. Her lawyers have filed a sentencing memorandum emphasizing her extensive cooperation with authorities and personal acceptance…
Operation Niflheim: Brazilian Authorities Crack Down on $9.7 Billion Crypto Money Laundering Rings
[Sep 12, 2024 5:30 PM] The Brazilian Federal Police dismantled an operation that used crypto to launder money from criminal sources, sending it abroad. Operation Niflheim involved the issuance of eight arrest warrants and 19 search and seizure orders against these groups…
CFTC Loses Round One: Kalshi Cleared to Offer US Election Bets
[Sep 8, 2024 2:30 PM] A federal judge this week sided with the prediction market Kalshi’s motion for summary judgment in its legal battle with the U.S. Commodity Futures Trading Commission (CFTC). This decision opens the door for U.S. citizens to place bets on the…
First Seizure of Stablecoins Recorded in Argentina as Authorities Disrupt Money Laundering Operation
[Sep 6, 2024 11:30 PM] In what local media are calling the first operation of its kind, the Argentine judicial system ordered the seizure of nearly $28,600 in stablecoins from a criminal organization that used cryptocurrency to launder millions of dollars. The criminals…
US Court Imposes $209 Million Penalty in Crypto Ponzi Scheme
[Sep 5, 2024 11:20 AM] The U.S. District Court for the Northern District of Illinois has ordered an Oregon resident and his entities to pay over $209 million in penalties for running Ponzi schemes disguised as crypto and carbon investment programs. This includes…
Court Upholds $1,000 Cap on Daily Crypto ATM Withdrawals in California
[Sep 4, 2024 10:10 PM] A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new…
UN Raises Human Rights Concerns in Telegram Founder Pavel Durov’s Case
[Sep 3, 2024 9:30 PM] The United Nations has expressed serious concerns about the arrest and charges against Pavel Durov, founder of Telegram, citing potential human rights issues. A U.N. spokeswoman called for adherence to international human rights standards…
Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’
SEC Warns FTX Over Legality of Crypto Asset Distribution in Chapter 11 Plan
[Sep 2, 2024 3:20 PM] The U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these…
Brazilian Supreme Court Bans X, Imposes Fines for VPN Circumvention
[Sep 1, 2024 8:30 PM] The Brazilian Supreme Court ordered a nationwide ban on X after a prior order mandating the social platform to assign a local representative was ignored. Brazilians began to lose access to the site on Saturday, as the Supreme Court prohibited…