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Trial of ‘Art-themed Altcoin Fraudster’ Underway in South Korea
12.12.2023
Source: icedmocha/Adobe The trial of a suspected crypto fraudster who allegedly told victims they were investing in an art-themed altcoin and NFTs has begun at court in Gwangju, South Korea. According to Munhwa Ilbo, prosecutors say an individual surnamed Tak, aged 44, “defrauded” 13 “victims”...
New Details of Binance’s Compliance Requirements Emerge in Unsealed Court Docs
11.12.2023
Source: X / @cz_binance New details have emerged surrounding Binance’s compliance requirements in the wake of the crypto exchange’s plea deal with the U.S. government, according to recently unsealed court documents. A forceful compliance agreement According to the court documents, Binance will...
Hong Kong High Court Rules Against Huobi Global in Trademark Infringement Lawsuit
11.12.2023
Source: Adobe/piter2121 The High Court of the Hong Kong Special Administrative Region has ruled in favor of X-SPOT GLOBAL LIMITED in a trademark infringement case against Huobi Global Limited. The court issued an interim injunction, prohibiting Huobi Global Limited from using...
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...
Craig Wright's Tulip Trading Must Prove Ownership of Bitcoin in Hacking Case, English Court Rules
7.12.2023
The hearing, scheduled to take 15 days, will also seek to determine whether the hack occurred
Crypto Exchange Bitzlato in Hot Water as Co-founder Pleads Guilty
7.12.2023
Source: Adobe / deagreez Anatoly Legkodymov, also known as “Gandalf” and “Tolik,” a Russian national and co-founder of the Hong Kong-based crypto exchange Bitzlato, has pleaded guilty in a US federal court in New York to charges related to operating an unlicensed money transmitting business....
Singapore-Based Crypto Investment Firm Cake Group Files for Liquidation
7.12.2023
Source: Pixabay Singapore-based Cake Group, the parent company of crypto platform Bake, is winding up its company and has filed for liquidation. According to a Tech in Asia report, the founder of the crypto investment platform U-Zyn Chua has applied to wind up the Cake Group at a Singapore High...
Judge Greenlights Plea Deal in High-Profile Binance Case; CZ Faces Sentencing in 2024
7.12.2023
A U.S. federal judge has endorsed the plea deal agreed upon between the U.S. government and Changpeng Zhao, the founder of Binance, widely known as “CZ.” Judge Richard Jones approved the plea in a recent court document, setting the sentencing for February 2024. U.S. Federal Judge Confirms...
Former Binance CEO CZ’s Guilty Plea Accepted by US Judge
7.12.2023
Source: DALL·E Changpeng Zhao, former CEO of Binance known as CZ, had his guilty plea accepted by a U.S. judge in a case involving anti-money laundering (AML) regulations. According to a recent court filing in the U.S. District Court for the Western District of Washington in Seattle, Judge Richard...
US Lawmaker Blasts SEC for Deliberately Obfuscating Crypto Regulations — Questions Chair Gensler’s Personal Agenda
7.12.2023
A U.S. lawmaker has slammed the Securities and Exchange Commission (SEC) for having a deliberate policy preference to provide less clarity to the crypto market. “The SEC is not adhering to the law. That’s why it keeps losing in court,” said Congressman Tom Emmer as he questioned...
Blackrock’s Spot Bitcoin ETF Filing Update Addresses Potential Classification of BTC as a Security by SEC
7.12.2023
Blackrock, the world’s largest asset manager, has warned in its latest spot bitcoin exchange-traded fund (ETF) filing update of the potential for bitcoin to be classified as a security by the U.S. Securities and Exchange Commission (SEC), state regulators, or court rulings. “If...
Terra Founder Do Kwon Appeals Against Extradition to South Korea and US
6.12.2023
Source: Terra / YouTube Terraform Labs co-founder, Do Kwon, has officially filed an appeal against the extradition decision of the High Court in Montenegro. On December 6, the Montenegrin Court of Appeal confirmed that Kwon Do-hyung submitted an appeal, expressing his refusal to accept...
SEC Makes ‘Materially False and Misleading’ Representations Against Crypto Firm — Judge Threatens Sanctions
6.12.2023
The United States District Court for the District of Utah has expressed concerns that the U.S. Securities and Exchange Commission (SEC) is making “materially false and misleading representations” in its lawsuit against a crypto firm. The court has ordered the securities regulator...
SEC Pushes for Judge to Classify Crypto as Securities in Terraform Labs Case, Bypassing Jury
5.12.2023
The SEC pushes for a judge to determine if crypto assets qualify as securities in its court case against Terraform Labs. Image by dennizn, Adobe Stock. The Securities and Exchange Commission (SEC) urged a judge on Monday to decide whether certain cryptocurrencies qualify as securities in...
Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm Operation
5.12.2023
In a case that intertwines crypto mining and utility theft, a Minnesota power company, North Star Electric Cooperative, has accused a former couple, Ryan Jaenicke and Tina Fehlhaber, of stealing vast amounts of electricity. The alleged scheme, detailed in a 19-page civil suit filed in Roseau County...
Duo Behind $9M Platypus Exploit Acquitted by Paris Court: Report
4.12.2023
Charges were dropped after one of the accused argued he was an "ethical hacker," according to French news publication Le Monde
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...
French Court Acquits Hackers Accused of Targeting Avalanche Stablecoin Project Platypus
4.12.2023
Image Source: Pixabay A French court has acquitted the individuals accused of orchestrating the $8.5 million hack on Platypus Finance, an automated market maker (AMM) protocol on the Avalanche blockchain. According to a report by Le Monde, the defendants, identified as Mohammed and Benamar M., were...
SEC Lawyers Warned by Judge for ‘Misleading’ Request in Crypto Case
3.12.2023
Source: AdobeStock / Andriy Blokhin A federal judge has warned attorneys from the Securities and Exchange Commission (SEC) regarding their “false and misleading” arguments in a court filing. The attorneys are accused of persuading the court to freeze the assets of a cryptocurrency firm...
Terraform and Do Kwon’s Attempt to Dismiss Class-action Lawsuit Fails: Report
1.12.2023
Source: YouTube/Coinage Defunct blockchain protocol Terraform Labs is currently fighting legal challenges in Singapore and appears to be facing setbacks. According to a local news outlet, the creators of the algorithmic stablecoin TerraUST and its founder, Do Kwon, have had their efforts...