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High-Return Crypto Scheme Hit With Cease-and-Desist in Texas
11.10.2024
Texas regulators have issued an emergency cease-and-desist order against two individuals accused of promoting a fraudulent cryptocurrency investment scheme. The alleged scheme, tied to Trage Technologies, promised high returns on digital asset arbitrage trading but is accused of misleading...
Dubai's VARA Fines, Issues Cease-and-Desist Orders Against 7 Crypto Entities
10.10.2024
Dubai's Virtual Assets Regulatory Authority (VARA) issued cease-and-desist orders and accompanying fines to seven entities for operating without the required licenses and breaching marketing regulations
Nintendo Kills Another Switch Emulator
1.10.2024
Another Nintendo Switch emulator has been taken offline as Nintendo’s crackdown on the homebrew scene continues. Work on the open-source emulator Ryujinx will cease and downloads for it have been removed after its creator was approached by the Mario maker, approximately seven months after Switch...
SEC commissioners slam agency after $750K FlyFish Club NFT settlement
17.9.2024
SEC commissioners Hester Peirce and Mark Uyeda didn’t believe any US securities laws were triggered and urged the commission to give NFT firms more room to experiment
Fed hits Texas bank with cease and desist over servicing crypto firms
5.9.2024
The US Federal Reserve said it identified “significant deficiencies” in the bank’s dealings with crypto clients and its risk management procedures.
United Texas Bank Faces Regulatory Action for AML Failures Linked to ‘Virtual Currency Customers’
4.9.2024
United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance...
Watchdog alleges Super Micro is riddled with accounting, sanctions scandals
27.8.2024
Hindenburg Research has uncovered evidence of big problems with a major AI hardware provider
New Hampshire Regulator Orders Cease and Desist Against Finstate Investment for Crypto Fraud
19.8.2024
The New Hampshire Bureau of Securities Regulation has issued a cease and desist order against Finstate Investment LLC, accusing it of defrauding investors via a fraudulent cryptocurrency investment website. Finstate allegedly misrepresented account activity and offered illegal guarantees against...
Hyped Modern Warfare 2 Remastered Multiplayer Mod Killed One Day Before Launch
15.8.2024
Activision has reportedly sent a cease and desist letter to the devs behind H2M Mod. The highly anticipated fan mod for Call of Duty 4: Modern Warfare Remastered was focused on recreating and remastering the online multiplayer of Modern Warfare 2 for PC players.Read more
Abra, CEO Barhydt settle with 25 US states over licensing violations
26.6.2024
Other states can join in the settlement, which will see up to $82.1 million returned to customers
Crypto Friendly Evolve Bank Under Scrutiny: Cease and Desist Order Issued
15.6.2024
The Federal Reserve and Arkansas State Bank Department have mandated sweeping reforms at Evolve Bank & Trust following significant compliance breaches. The order highlights issues in anti-money laundering efforts and consumer protection, especially in its dealings with fintech companies...
Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations
30.5.2024
The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns...
Texas Regulator Orders Arkbit Crypto Mining To Shut Down
29.5.2024
A phoney Arkbit cryptocurrency cloud mining enterprise has suffered a significant setback at the hands of the Texas State Securities Board. A cease-and-desist order was issued by the SEC on May 28 against Arkbit Capital for allegedly using dishonest tactics to commit an investment fraud.
The post...
SEC Accepts ShapeShift’s $275,000 Settlement Over Crypto Securities Charges
6.3.2024
The U.S. SEC concludes its cease-and-desist action against ShapeShift with a $275,000 settlement, addressing charges of the firm selling crypto securities without proper registration.
The post SEC Accepts ShapeShift’s $275,000 Settlement Over Crypto Securities Charges appeared first...
Texas Securities Board Orders Crypto Lender Abra to Return Assets to Investors
23.1.2024
Source: Pixabay Crypto lender Abra has reached an agreement with the Texas State Securities Board to return customers’ frozen funds. The ruling comes after the authority filed an emergency cease and desist order and accused the company of securities fraud. Per the settlement agreement published...
Hong Kong Regulator Warns of 2 Entities Suspected of Crypto Frauds
9.12.2023
Hong Kong’s financial regulator has warned the public about two entities suspected of crypto frauds. In addition to issuing cease and desist letters to relevant website operators requesting them to cease offering crypto tokens for purchases, the regulator advises the public to “be...
Coinbase Halts Staking Services in Maryland Following Securities Commissioner’s Order
2.11.2023
In an unfolding development, the US cryptocurrency exchange Coinbase announced the suspension of its staking services in Maryland today via an e-mail to its customers. The decision follows a preliminary cease and desist order issued by the Maryland Securities Commissioner on June 6, 2023. The order...
SEC Charges Stoner Cats Over $8M Unregistered NFT Offering: Mila Kunis-Backed NFT Project to Pay $1M Penalty
13.9.2023
The Securities and Exchange Commission (SEC) charged Stoner Cats 2 LLC (SC2) with conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs) that raised about $8 million from investors to finance an animated web series. SEC Slaps Stoner Cats 2 With...
SEC Charges Crypto Investment Adviser for Publishing Misleading ‘Hypothetical Performance Projections’
22.8.2023
The U.S. Securities and Exchange Commission (SEC) has charged Titan Global Capital Management for publishing misleading “hypothetical performance projections” regarding its crypto investment product. Titan Global is also accused of violating the marketing rule when it advertised...
Farmington Bank Faces Fed Wrath: Alameda-Backed Financial Institution Ordered to Shutdown
21.8.2023
In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s coffers in January 2022. Government seizure...