8 / 23 Relevant items tagged with #LEGAL
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US Court Denies Kraken’s Motion to Dismiss SEC Crypto Securities Lawsuit
Kraken Crypto Exchange Fined by Australian Court
[Aug 24, 2024 11:20 AM] The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination…
Clucoin Founder Pleads Guilty to Crypto Fraud, Confesses to Personal Use of Investor Funds
[Aug 23, 2024 11:20 AM] The founder of cryptocurrency project Clucoin has pled guilty to wire fraud, admitting to diverting $1.14 million in investor funds for personal use, including gambling. Despite promoting the cryptocurrency for charitable causes, Taylor used his…
Man Faces 20-Year Prison Sentence in Crypto Money Laundering Case
[Aug 23, 2024 6:30 AM] A Rhode Island resident has pleaded guilty to money laundering conspiracy linked to an international drug trafficking ring. The operation laundered over $25 million using cryptocurrency, with Villa directly involved in converting cash into crypto…
Crypto Promoter and Failed Politician Michelle Bond Accused of Illegally Taking FTX Cash
[Aug 22, 2024 7:21 PM] Michelle Bond, who once ran a Washington-based crypto advocacy group and had served as a U.S. Securities and Exchange Commission lawyer, was indicted in federal court for taking illegal campaign contributions during her 2022 run for Congress, and…
Terraform Labs’ Fate Hinges on Sept. 19 Bankruptcy Hearing
[Aug 21, 2024 9:30 PM] The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered…
Highest Court of China Moves to List Virtual Asset Transactions as a Money-Laundering Tool
Former Bank CEO Sentenced to Prison for $47M Crypto Fraud Leading to Bank Collapse
[Aug 21, 2024 1:30 AM] The former CEO of failed Heartland Tri-State Bank was sentenced to over 24 years in prison for embezzling more than $47 million in a fraudulent crypto scheme that caused the bank’s collapse. He funneled the stolen funds into cryptocurrency…
Mango Markets’ Future Hangs in the Balance With New SEC Settlement Vote
[Aug 20, 2024 4:30 PM] Mango Markets, the Solana-based decentralized finance (defi) platform that lost more than $110 million in 2022, is currently holding a vote on a proposed settlement with the U.S. Securities and Exchange Commission (SEC) over alleged securities…
Bitcoin Miner Greenidge Files Legal Complaint Against New York Regulator, Reports Q2 Earnings
[Aug 19, 2024 8:30 PM] Greenidge Generation Holdings Inc. has initiated legal action against the New York State Department of Environmental Conservation, challenging the denial of its air permit renewal. The company also reported its second-quarter financial results…
Better Markets CEO Says SEC Has 90% Chance of Winning in Ripple Appeal — Criticizes Judge’s XRP Ruling
[Aug 18, 2024 11:35 PM] Dennis Kelleher, CEO of Better Markets, says the U.S. Securities and Exchange Commission (SEC) has a 90% chance of winning an appeal in the Ripple lawsuit over XRP. He criticized the court ruling as flawed, arguing that the judge in the Ripple case…
Ripple Legal Chief Anticipates Possible SEC Appeal in XRP Case Despite Court’s 10% Reversal Rate
Binance Pays $1.75 Million to Settle Irregular Derivatives Offering Procedure in Brazil
[Aug 16, 2024 9:30 PM] Binance, one of the largest cryptocurrency exchanges in the world, has settled an administrative procedure with the CVM, the securities regulator of Brazil. The exchange proposed to pay 9.6 million Brazilian reais (approximately $1.75 million) to…
Kim Dotcom’s Extradition to US Approved by New Zealand Justice Minister
[Aug 15, 2024 3:30 PM] Kim Dotcom, the founder of Megaupload, may soon be extradited to the U.S. from New Zealand following a decision by Justice Minister Paul Goldsmith. Dotcom, who has long resisted extradition since an FBI raid in 2012, said he has a plan and…
7 Indicted in $300,000 Queens Bitcoin Theft, Say Prosecutors
[Aug 14, 2024 11:20 AM] Seven individuals have been indicted for stealing over $300,000 in bitcoin from a Queens resident. The charges against them include grand larceny, money laundering, and identity theft, stemming from a lengthy investigation into a cryptocurrency…
Tether Slams Celsius Network’s ‘Baseless’ $2 Billion Lawsuit
SEC Addresses Final Court Ruling in Ripple Case, Highlights Key Outcomes
[Aug 11, 2024 1:30 AM] The U.S. Securities and Exchange Commission (SEC) has addressed District Judge Analisa Torres’ ruling in the Ripple case over XRP, emphasizing the substantial financial penalties imposed on the crypto firm and its ongoing securities law…
Avraham Eisenberg Seeks Acquittal of Mango Markets Conviction
US Court Orders FTX and Alameda to Pay Fraud Victims $12.7 Billion in Historic CFTC Recovery
[Aug 8, 2024 6:05 PM] A U.S. district court has ordered FTX and Alameda Research to pay $12.7 billion to fraud victims due to their misuse of customer funds and fraudulent practices. Ian McGinley, Director of the Commodity Futures Trading Commission’s Division of…
Ripple Hails Victory as Judge Cuts SEC’s Penalty Request by 94% in Final Judgment of XRP Case
[Aug 7, 2024 10:05 PM] District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC’s motion for remedies against Ripple…
SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request
[Aug 6, 2024 1:21 AM] Lawyers for the U.S. Securities and Exchange Commission (SEC) are pushing back against what they describe as Coinbase’s “breathtakingly broad” subpoena requests searching for “essentially all documents that in any way relate to crypto.”
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO
[Aug 3, 2024 3:16 PM] The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused…
The BITCOIN Act of 2024
[Aug 2, 2024 4:46 PM] Following the announcement on July 27th at the Bitcoin conference in Nashville, the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide” or BITCOIN Act of 2024, introduced by Senator Cynthia Lummis of…
Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages
[Jul 23, 2024 2:57 PM] Coinbase Inc. (COIN) is going after internal chatter at the U.S. Securities and Exchange Commission (SEC) that may shed light on its pursuit of cryptocurrency exchanges as illegal enterprises – including Chair Gary Gensler's own communications –…
Nigerian Prison Doctor Faces Arrest Over Jailed Binance Exec’s Health Report
[Jul 17, 2024 11:36 PM] On July 16, a Nigerian court issued an arrest warrant for a prison doctor who failed to provide jailed Binance executive Tigran Gambaryan’s medical report as demanded. The court also ordered prison officials to take Gambaryan to a local hospital…
Plaintiffs File New, Slimmed Down Complaint in Class Action Lawsuit Against Tether
[Jul 15, 2024 2:12 PM] Plaintiffs in an ongoing class action lawsuit against Tether and Bitfinex have filed a new, slimmed-down complaint accusing the crypto companies of manipulating the crypto markets and violating antitrust laws.
Philippines Charges 2 Russians in $6.2 Million XRP Theft
[Jul 14, 2024 7:32 PM] The Philippine Department of Justice (DOJ) has charged two Russian nationals with stealing PHP340 million ($6.2 million) worth of XRP cryptocurrency from a local crypto exchange. The suspects allegedly hacked Coins.ph’s system to commit the…
Marathon Digital Bitcoin Mine Manager Acquitted of Noise Violations In Texas
[Jul 13, 2024 1:30 AM] David Fischer, who serves as a plant manager for a Bitcoin mine owned by Marathon Digital, a public Bitcoin mining company, has been acquitted of having responsibility for several noise complaints brought by citizens living nearby. The operation…
More Samourai Devices Seized: Bitcoin Privacy Activist Appears In Court Ahead of Bail Release
[Jul 10, 2024 2:28 PM] Today marked the first public court hearing in the US Department of Justice’s (DoJ) case against Samourai Wallet developers William Lonergan Hill and Keonne Rodriguez since May 28, 2024, when Rodriguez appeared in court for the first hearing on the…