Search
SEC and DOJ Strike Crypto Firm With Millions in Penalties Over Corruption
20.11.2024
A crypto mining firm faces a $14 million penalty after admitting to a $2.5 million bribery scheme to secure a Japanese casino contract, which ultimately failed. A Mining Empire’s Downfall: Bribery Scandal Leads to Global Fallout The U.S. Department of Justice (DOJ) and the U.S. Securities...
What is insider trading? Meaning, examples and penalties
17.10.2024
Insider trading is considered unethical and is often illegal, raising concerns about market manipulation in the crypto space
SEC Charges Cumberland DRW for Unregistered $2 Billion Crypto Securities Dealings
11.10.2024
The U.S. Securities and Exchange Commission (SEC) has charged Cumberland DRW LLC, a Chicago-based firm, for operating as an unregistered dealer in over $2 billion of crypto assets classified as securities. The SEC claims that Cumberland violated federal securities laws by failing to register...
Senator Warren Slams Citibank’s Ongoing Failures — Suggests Breaking up Citi
5.10.2024
Senator Elizabeth Warren has called for bold action from regulators, urging the acting head of the Office of the Comptroller of the Currency (OCC) to address Citibank’s persistent operational failures. Warren stated that Citibank may be “too-big-to-manage,” citing years of regulatory...
SEC’s Enforcement Chief Steps Down After Leading Over 100 Crypto Enforcement Actions
2.10.2024
Gurbir S. Grewal, Director of the U.S. Securities and Exchange Commission (SEC)’s Division of Enforcement, will leave the agency next week. During his tenure, he led several high-profile enforcement actions, particularly in the crypto sector, targeting noncompliant platforms and insider...
CFTC Sues Over $3.6M Digital Asset Fraud Targeting Asian Americans
29.9.2024
The U.S. Commodity Futures Trading Commission (CFTC) has initiated legal action against a fake trading platform and its associates for defrauding investors out of $3.6 million. The scheme, which targeted Asian Americans, involved soliciting funds in fiat and digital assets, with false promises...
SEC Takes Action Against Fake Crypto Platforms Using Social Media to Deceive Investors
18.9.2024
The U.S. Securities and Exchange Commission (SEC) has cracked down on two crypto investment scams, targeting platforms Nanobit and Coinw6. Involving fake relationships to deceive victims via social media, these schemes siphoned millions from unsuspecting investors. The charges mark the first...
SEC Fines Prager Metis $1.95M Over Negligent FTX Audits
17.9.2024
The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising...
SEC Freezes Assets of Crypto Trading Bot Operators in Alleged Ponzi Scheme
28.8.2024
The U.S. Securities and Exchange Commission (SEC) has frozen the assets of Jonathan and Tanner Adam, alleging they ran a $60 million Ponzi scheme under the guise of a crypto trading bot. Over 80 investors were defrauded by promises of high returns, while the funds were allegedly used for personal...
Better Markets CEO Says SEC Has 90% Chance of Winning in Ripple Appeal — Criticizes Judge’s XRP Ruling
19.8.2024
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 misapplied the law. Better Markets CEO on...
Latam Insights: Bukele Goes Chavez Mode Against High Prices, Paraguay Strengthens Power Theft Penalties For Crypto Mining
14.7.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: President Nayib Bukele starts combating price gouging practices in El Salvador a la Chavez, Paraguay enacts penalties of up to 10 years of jail time for power...
Federal Reserve Fines Citigroup $60.6 Million for Ongoing Risk Management Deficiencies
10.7.2024
The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress in addressing deficiencies identified in a 2020 order. Citigroup Faces $60.6...
SEC drops Ether probe but still seeks billions in penalties from Ripple: Hodler’s Digest, June 16-22
22.6.2024
The U.S. Securities and Exchange Commission has dropped its case against Ether. However, in another crypto case, the regulator still demands billions in penalties from Ripple
Uzbek Court Sentences Student to 10 Days in Prison for Crypto Sales
13.6.2024
A 24-year-old Termez State University graduate has been sentenced to 10 days of administrative imprisonment for selling cryptocurrency notcoin. Termez State University is a public institution located in the capital of Surkhandarya province, Uzbekistan. The court found him guilty of violating laws...
Paraguay Proposes Harsh Penalties for Illegal Bitcoin Mining
20.5.2024
The Paraguayan government is urging lawmakers to pass a bill that would impose up to 10 years in jail for illegal bitcoin miners, in response to the large amounts of electricity theft threatening the state-owned National Electricity Administration (ANDE). The bill includes provisions for Paraguayan...
Taiwan proposes tougher AML measures for crypto service providers
9.5.2024
Taiwan’s Ministry of Justice proposed four amendments to the country’s AML regulations focused on cryptocurrency firms that plan to impose hefty penalties for noncompliance
CFTC Commissioner wants to create AI Fraud Task Force
3.5.2024
Commissioner Kristin Johnson’s remarks came just a day after the CFTC appointed its first chief AI officer
Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
29.4.2024
Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and tariffs. Trump remains committed to preserving the U.S....
Do Kwon's Huge Fine Shows the SEC Is Ratcheting Up Penalties Against Crypto Firms
24.4.2024
Suggested fines the securities watchdog suggested for Terraform Labs and Ripple are out-of-line with what it has collected from crypto firms in the past
Ripple Files Opposition to SEC’s $2 Billion Penalty Request
23.4.2024
Ripple opposes the SEC's demand for $2 billion in penalties, proposing a much lower sum of $10 million instead, calling the request an “ongoing intimidation against all of crypto.”
The post Ripple Files Opposition to SEC’s $2 Billion Penalty Request appeared first on Cryptonews