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FTC Blasted By Congress And Gamers For Doing Its Job

14.7.2023
Under chair Lina Khan, the Federal Trade Commission (FTC) has taken a lot of heat for trying to be aggressive in its approach to regulating tech companies and preventing monopolies. Now the FTC is facing criticism from both Republicans in Congress and very online Xbox fans for appealing a recent...

FTC Slaps Crypto Lender Celsius With $4.7B Fine for Deceiving Consumers and Mismanaging Deposits

13.7.2023
On Thursday, following the U.S. Securities and Exchange Commission (SEC) suing the insolvent crypto lender Celsius, the Federal Trade Commission (FTC) divulged a settlement with the firm and imposed a $4.7 billion fine for “duping consumers.” Nevertheless, the penalty will be deferred to enable...

SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices

13.7.2023
The U.S. Securities and Exchange Commission has filed a lawsuit against the now-defunct cryptocurrency lender, Celsius. The suit, filed Thursday, also names former CEO Alexander “Alex” Mashinsky as a defendant. Both he and the company stand accused of falsely promising investors a safe...

US Judge Rules XRP ‘Not Necessarily a Security on Its Face,’ Sending XRP Supporters Into Celebration

13.7.2023
According to a recent ruling handed down by U.S. judge Analisa Torres, the crypto asset XRP is not “necessarily a security on its face.” In the ruling, both parties, the U.S. Securities and Exchange Commission (SEC) and Ripple Labs’ motions for summary judgment were granted...

Crypto Investment Firm Paradigm Challenges SEC's Jurisdiction in Bittrex Lawsuit

12.7.2023
Prominent crypto investment firm Paradigm has challenged the US Securities and Exchange Commission's authority to regulate secondary markets for crypto assets. The company has filed an amicus brief in the SEC's case against cryptocurrency exchange Bittrex, challenging the regulator's attempt...

‘Extended reality’ to create 860K jobs by 2025: EU Commission

12.7.2023
The European Commission has laid out its plans for becoming a “world leader” in Web 4.0 and the Metaverse

US Senator Expresses Concern Over Prometheum Co-CEO’s Congressional Testimony

11.7.2023
On Monday, U.S. senator Thomas Tuberville (R-AL) published an open letter to U.S. attorney general Merrick Garland and Securities and Exchange Commission (SEC) chairman Gary Gensler expressing concern over allegations that Prometheum, Inc., a registered digital asset company, may have provided...

EU’s Metaverse Vision Focuses on Standards, Governance and Funding

11.7.2023
The EU isn’t proposing new laws but could spend hundreds of millions on research into virtual worlds

Binance US Arbitrage: Social Media Users Say BTC Discount Not Indication of an Opportunity

10.7.2023
For several days since Binance US announced the resumption of withdrawals, bitcoin (BTC) has changed hands at a discount and was trading at more than $2,500 below the prevailing market price on July 10. The emergence of a discount on crypto assets paired with USD on Binance US has fueled...

SEC States Coinbase Misinteprets Howey Test, Misuses Major Questions Doctrine

10.7.2023
The U.S. Securities and Exchange Commission (SEC) answered the latest filing of Coinbase by shooting down the arguments presented by the exchange to throw out the ongoing lawsuit. The filing reaffirms the institution’s jurisdiction on securities laws, explaining that Coinbase misinterprets...

Lawyer Outlines What Would Happen if SEC Wins Lawsuit Against Ripple Over XRP

9.7.2023
A lawyer has outlined what he believes to be the most likely outcome if the U.S. Securities and Exchange Commission (SEC) wins against Ripple Labs and XRP is declared a security. He expects Ripple to appeal if the SEC wins, warning: “If Ripple loses to the SEC, there won’t be...

JPMorgan Analysts Say Spot Bitcoin ETF Approval Is ‘Unlikely to Be a Game Changer for Crypto Markets’

8.7.2023
In a report published on Thursday, JPMorgan analysts suggest that the approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) is “unlikely to be a game changer for crypto markets.” The market strategists at the American banking giant...

SEC: Coinbase Knew About Potential Securities Law Breaches

8.7.2023
The US Securities and Exchange Commission has claimed that Coinbase was aware of a potential securities breach when it listed some cryptocurrencies. In a recent filing, lawyers for the SEC slammed Coinbase's argument that it was not aware of violating securities laws, noting that the largest...

Binance Feels Strain of World’s Regulators Leaping Into Action

7.7.2023
Australian officials directly sought out current and former employees of Binance’s operation there this week, demanding copies of internal communications and data from their personal devices, according to a person familiar with the government’s move against the leading crypto exchange, which marked...

UK Law Commission report challenges Craig Wright's suit against Bitcoin developers

6.7.2023
A report published by the UK Law Commission bolsters Bitcoin core developers' defense that they are not liable for 111,000 BTC taken by hackers

Coinbase CLO Paul Grewal: SEC’s Interpretation of ‘Investment Contract’ Violates Law

6.7.2023
Paul Grewal, CLO of Coinbase, one of the largest U.S.-based cryptocurrency exchanges, has accused the U.S. Securities and Exchange Commission (SEC) of violating the law by assessing what constitutes an investment contract. Grewal’s reasoning comes from the Supreme Court of the United...