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Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD
13.2.2023
According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following...
Binance Says BUSD ‘Funds are Safu’, but a Regulatory Cloud is Forming Over the U.S.
13.2.2023
February has been a great month for the narrative that crypto’s natural home is in Asia
Coinbase Argues Its Staking Services Are Not Securities, Criticizes SEC Regulatory Approach
13.2.2023
Coinbase, one of the biggest cryptocurrency exchanges in the U.S., has stated that the staking services offered on its platform do not constitute securities. The statements, made in the wake of the $30 million settlement that Kraken, another U.S.-based crypto exchange, completed with the U.S....
US Crypto Lawsuits Reach All-Time High With 42% Increase in 2022; SEC Cases Dominate Legal Battles
13.2.2023
A new study on digital currency-related lawsuits since 2018 shows a 42% increase in crypto lawsuits in 2022. The highest number of claims in a single year was recorded last year, with 41 total claims in the United States. The research also shows that the majority of lawsuits came from the U.S....
Fed Governor Warns Crypto Prices Could Fall to Zero — Says ‘Don’t Expect Taxpayers to Socialize Your Losses’
13.2.2023
U.S. Federal Reserve Governor Christopher Waller has warned that crypto prices could fall to zero at some point. “Please don’t be surprised and don’t expect taxpayers to socialize your losses” when that happens, the Fed governor stressed. Crypto Prices Could Go to Zero,...
Coinbase will 'happily defend' staking in U.S. courts, says CEO
12.2.2023
Coinbase executives claim that staking is not a security under the US Securities Act or Howey test
Russia Releases Bitzlato Co-Founder Anton Shkurenko After Questioning
12.2.2023
Russian authorities have released the recently arrested co-founder of crypto exchange Bitzlato, said to have processed illicit funds worth millions of U.S. dollars. Anton Shkurenko, who was questioned in Moscow, denies the French charges against him that became the reason for his brief detention....
House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest
12.2.2023
On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried...
‘Midnight Massacre:’ SEC Crackdown on Crypto Staking Services Prompts Speculation of Further Enforcement Actions
10.2.2023
On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service....
Kraken CEO Calls on Congress to Protect US Crypto Industry Following Settlement With SEC Over Staking Program
10.2.2023
The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken...
Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days
10.2.2023
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease...
Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit Multi-Week Low, as Sell-off Worsens
10.2.2023
Bitcoin moved below $22,000 on Friday’s session, as sentiment in cryptocurrency markets remained bearish. Volatility in markets has risen in recent days, following comments from U.S. Fed Chair Jerome Powell, who hinted at ongoing rate hikes. Ethereum also dropped, falling under $1,600....
Russian Charged With Laundering Ransomware Proceeds in Crypto Pleads Guilty in US
10.2.2023
A Russian national accused of processing cryptocurrency payments from ransomware attacks has pleaded guilty to money laundering in the United States. The man who was extradited from the Netherlands in mid-August, last year, will be sentenced in April. Russian Crypto Launderer Pleads Guilty in...
French Luxury Brand Hermes Wins NFT Trademark Infringement Lawsuit
10.2.2023
French luxury brand Hermes has won a lawsuit against an artist who depicted its famous Birkin bags in a non-fungible token (NFT) collection. The artist argued that NFTs should be covered under the U.S. Constitution’s First Amendment but the jury disagreed. Hermes Wins Lawsuit Against...
Kraken Winds Down Staking Program, Pays $30 Million to Settle Unregistered Offering of Staking Services Case With SEC
9.2.2023
Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with the U.S. Securities and Exchange Commission (SEC) to settle for the unregistered offer of its staking services. The exchange will also pay $30 million...
Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power
9.2.2023
According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three...
Banks under pressure from U.S. authorities to cut ties with crypto firms
9.2.2023
Banks are allegedly being discouraged from offering services to the crypto industry by United States authorities
Major Crypto ATM Operator Coin Cloud Files for Bankruptcy
9.2.2023
One of the largest cryptocurrency ATM operators, Coin Cloud, which claims to operate more than 5,000 crypto ATMs, has filed for bankruptcy in the U.S. The company’s largest creditor is Genesis Global Trading, whose parent company also recently filed for bankruptcy in the U.S. Coin Cloud Files...
Coinbase CEO Brian Armstrong Expresses Concern Over Rumors of SEC Ban on Crypto Staking for Retail Customers
9.2.2023
Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users...
Bitzlato Co-Founder Anton Shkurenko Arrested in Russia, Report
9.2.2023
Russian authorities have reportedly arrested the second co-founder of seized cryptocurrency exchange Bitzlato. The man, who recently promised to restore the platform’s operations from Russia, was detained at the request of Interpol and may face extradition to France. Another Co-Founder...