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Supreme Court Ruling Bolsters Australian FTX Creditors’ Prospects for Full Recovery
2.2.2024
The prospects of Australian creditors of the crypto exchange FTX getting all their money back recently received a boost after a judge ruled that only those who initiated Australian dollar withdrawal requests are entitled to a share of the $26 million recovered. Australian investors with...
Bitcoin Technical Analysis: A Collision of Signals and Macro Decisions Ahead of Fed Ruling
31.1.2024
Over the past 60 minutes, bitcoin’s trading value has fluctuated between $42,525 and $42,715, demonstrating a dynamic price range. Its 24-hour price swing extends from a low of $42,340 to a high of $43,853. Currently, bitcoin boasts a market capitalization of $834 billion, coupled with...
UK Supreme Court Refuses Self-Proclaimed Bitcoin Inventor Craig Wright Appeal: Report
26.1.2024
The UK’s Supreme Court has denied self-proclaimed Bitcoin inventor Craig Wright permission to appeal a ruling in his case against podcaster Peter McCormack, according to a report by CoinDesk. Wright, who claims to be Bitcoin inventor Satoshi Nakamoto was only entitled to £1 in compensation for...
Canadian Court Declares Freeze on Crypto Donations During ‘Freedom Convoy’ Protests Unconstitutional
25.1.2024
In a judicial rebuke, the Federal Court of Canada ruled that the Trudeau government’s decision to freeze cryptocurrencies during the 2022 “Freedom Convoy” protests was unconstitutional. Trudeau Government’s Emergency Powers Challenged: Court Rules Crypto Freeze Unlawful In a ruling...
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...
FTX to Face Independent Investigation, Federal Appeals Court Rules
22.1.2024
An independent bankruptcy examiner must complete an investigation into the collapse of FTX, a federal appeals court ruled Friday. In violation of U.S. bankruptcy code The ruling, delivered by the Third Circuit Court of Appeals in Philadelphia, argues that to not appoint an independent examiner...
FTX Under New Scrutiny: Appellate Court Orders Independent Investigation
21.1.2024
An independent examiner was initially barred from delving into the FTX bankruptcy case. However, the Third Circuit Court of Appeals in Philadelphia has recently overturned this decision, mandating that the defunct crypto exchange undergo an investigation by an external party. This ruling points...
SEC Postpones Decision on Fidelity’s Spot Ethereum ETF
19.1.2024
The United States Securities and Exchange Commission (SEC) has postponed its ruling on Fidelity’s spot Ethereum exchange-traded fund until March 5th, a new court filing reveals. “Completely expected” “The Commission finds it appropriate to designate a longer period within which to take action...
Coinbase Faces a Crucial Week: Potential 30% Revenue Drop Looms – Here’s Why
16.1.2024
Crypto exchange Coinbase risks losing one-third of its total revenue due to ongoing legal pressure from federal regulators, according to several analysts familiar with the matter. In comments shared with Finance Feeds, Mizuho Securities analyst Dan Dolev explained that a poor court ruling shortly...
US SEC Cites Terraform Case in Coinbase, and Binance Rulings
5.1.2024
Source: Pixabay The US. Securities and Exchange Commission (SEC) has cited the Terraform Labs recent ruling during the Coinbase and Binance hearings strengthening its claim that the cryptocurrency exchanges went against the securities law. On 28 December, the SEC ruled that Terraform Labs tokens...
SEC Whistleblower Reveals Chai Payments App in Terra Ecosystem Didn’t Use Crypto
31.12.2023
Source: Adobe/Casimiro Four crypto tokens sold by Do Kwon and his co-founded company, Terraform Labs, has been qualified as unregistered securities. The tokens in question are TerraUSD (UST), LUNA, wLUNA, and Mirror Protocol (MIR), according to a recent summary judgment ruling by Judge Jed Rakoff...
Judge Grants Summary Judgment for SEC in Landmark Crypto Case Against Terraform Labs
29.12.2023
In a definitive ruling, U.S. District Judge Jed Rakoff favored the Securities and Exchange Commission (SEC) in the multi-billion-dollar fraud case involving Terraform Labs and its founder, Do Kwon. Rakoff noted that the Howey test criteria were satisfied for a range of Terra-related assets...
US Bankruptcy Court Approves $225M ‘MiningCo Transaction’ for Celsius, Prevents Securities Ruling in Chapter 11 Proceedings
28.12.2023
Source: Adobe/Canva Bankrupt cryptocurrency lending company Celsius Network has achieved a significant milestone in its Chapter 11 bankruptcy proceedings. The United States Bankruptcy Court for the Southern District of New York has granted approval for Celsius Network’s proposed...
South Korean Regulator Rules NFTs Are Not Subject to Crypto Law
11.12.2023
Source: TSViPhoto/Adobe South Korean financial regulators have said NFTs are not subject to the same rules as cryptoassets, a ruling that may buoy token issuers and blockchain gaming firms. Per News1, the Financial Services Commission (FSC), the nation’s top regulator, stated that “following...
Binance Founder CZ to Await Sentencing in US; Judge Cites Wealth Abroad as Flight Risk Factor
8.12.2023
Source: GeekWire/ Taylor Soper A federal judge in Seattle has ruled that Changpeng Zhao, the founder and former CEO of Binance, must remain in the United States while awaiting sentencing on money laundering charges. The decision overturned a previous ruling by a magistrate judge, who had allowed...
Report: Terraform Labs Co-Founder Do Kwon to Be Extradited to the US
7.12.2023
Terraform Labs’ co-founder, Do Kwon, is on the brink of extradition to the United States from Montenegro. This development follows a decisive ruling by a high court and the endorsement from a top official. According to The Wall Street Journal, Justice Minister Andrej Milovic...
Japan to Exempt Companies From Unrealized Crypto Gains Tax – Report
6.12.2023
Source: Pixabay Japanese lawmakers discussed Tuesday on plans to exempt companies from paying tax on unrealized cryptocurrency gains. The proposal is set to be included in the fiscal 2024 tax reform plan. According to a Nikkei report, the proposal is being discussed by the country’s ruling...
This Supreme Court Case and IRS Broker Rule Together Could Redefine Crypto Taxation
4.12.2023
Source: DALL·E A critical Supreme Court case and its ruling could redefine the taxation of digital assets. Intersecting with the vexed IRS broker rule announced earlier, this case may potentially reshape crypto tax reporting and compliance on a fundamental level. The case in question, Moore...
Senator Cynthia Lummis Slams SEC for its “Ruling by Enforcement” Approach Following Kraken Lawsuit
21.11.2023
Source: Sen. Cynthia Lummis’ website Senator Cynthia Lummis has criticized the Securities and Exchange Commission (SEC) for its current approach to cryptocurrency regulation. In a recent post on X (formerly Twitter), the senator accused the agency of relying on a “ruling by enforcement”...
Tornado Cash Users Appeal Court Ruling Backing Treasury Department’s Sanctions
15.11.2023
Source: Pixabay The plaintiffs in the case against the United States Treasury Department’s sanctions over the popular cryptocurrency mixer Tornado Cash are dissatisfied with the ruling of the court. A group of five Tornado cash users has filed an appeal against the judgment of the US District Court...