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Court Orders Kraken to Turn Over History Transaction and Account Information to IRS

30.6.2023
A federal court ordered crypto exchange Kraken to turn over account and transaction information to the IRS, which said it needed that information to see if any of the exchange's users had underreported their taxes

US Court Orders Operator of Digital Asset Trading Scam to Pay $54 Million

30.6.2023
According to the Commodity Futures Trading Commission (CFTC), Michael Ackerman, the operator of an alleged fraudulent digital asset trading scheme, has been issued with an injunction order which bars him from trading in any CFTC-regulated markets or registering with the CFTC. The injunction also...

SEC vs Coinbase Case Set for July 13 After Exchange’s ‘Creative' Opening Response

30.6.2023
The Securities and Exchange Commission (SEC) will present its response to Coinbase's first legal defense, filed Thursday, on July 13, the court has ordered

1 Million PlayStation Owners Play Call Of Duty... And Nothing Else

29.6.2023
Would you buy an expensive console just for one video game? Probably not. However, according to Sony, about 1 million PlayStation owners only play Call of Duty. That’s it. Nothing else. Read more

Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

29.6.2023
The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators...

Russia’s Supreme Court: Criminals’ Bitcoin-to-Fiat Trades Constitute Money Laundering

29.6.2023
Russia’s Supreme Court has ruled that criminals’ Bitcoin (BTC)-to-fiat trades can be considered money laundering. Per a report from the Russian legal affairs-focused media outlet RAPSI, the Supreme Court made the judgement in a case involving a citizen who sold narcotics to crypto-paying drug...

Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges

28.6.2023
Michael Ackerman pleaded guilty in 2021 to charges of defrauding around 150 investors for $33 million in a digital asset trading scheme

Nevada’s Financial Watchdog Seeks Receivership of Crypto Custodian Prime Trust Amidst Insolvency Concerns

28.6.2023
In a recent submission to the Eighth Judicial District Court in Las Vegas, the Nevada Financial Institutions Division has expressed its intention to take decisive action against the crypto custodian Prime Trust. The regulatory body seeks to not only shut down Prime Trust but also swiftly seize...

Nevada financial regulator petitions court to place Prime Trust into receivership

27.6.2023
The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto

FTX splurged on cartoon, book about humans and 'Pineapple House,' alleges CEO

27.6.2023
Thousands in grants were given out by former FTX executives for niche projects, according to a report by FTX restructuring chief John Ray

Judge denies motion from Binance regarding allegedly 'misleading' SEC statements

26.6.2023
The legal teams for Binance, Binance.US and CZ filed a motion for the court to order the SEC to comply with “applicable rules of conduct” following allegedly misleading statements

U.S. Judge Rejects Binance.US Complaint Over SEC Press Release

26.6.2023
A federal judge has rebuffed Binance’s request to curtail the U.S. Securities and Exchange Commission's (SEC) use of language pertaining to Binance.US’ management of customer funds in press releases, arguing the statements could hurt the company at trial

South Korean Court Rules That Bitcoin ‘Is Not Money’ – And Crypto’s Not Subject to Interest Rate Rules

26.6.2023
A South Korean court has ruled that “Bitcoin (BTC) is not money,” and that “interest rate rules don’t apply” to business deals involving cryptoassets. Per Hanguk Kyungjae, the ruling was made by the Seoul High Court’s Civil Division in a case involving two firms, both of which were unnamed...

Brit Gets Prison Time for Twitter Hack Impersonating Biden, Buffett in Bitcoin Scheme

26.6.2023
A U.K. citizen has been sentenced by а New York court to five years in prison for his role in a Twitter hack including the hijacking of accounts of U.S. political and business figures. The man is also responsible for the theft of large amounts of cryptocurrency in a SIM swap attack. Hacker Goes...

FTX User Names: Media Houses Appeal to Overturn Court Redaction Decision

25.6.2023
Several major media outlets have filed an appeal aiming to overturn a bankruptcy court's decision to redact the names of FTX users permanently. In a recent filing with the US Bankruptcy Court for the District of Delaware, The New York Times, Dow Jones & Company, Bloomberg, and the Financial...

Coinbase Gains Victory in Supreme Court Over Arbitration Lawsuit – Here's What You Need to Know

24.6.2023
The US Supreme Court has ruled in favor of Coinbase, backing its request to halt customer lawsuits while it pursues appeals aimed at moving the disputes out of courts and into private arbitration. On Friday, five of the nine Justices voted in support of Coinbase's request, overturning a lower...

FTX Seeks to Claw Back $700M in Lawsuit Over Alleged Funds Misappropriation and Influence-Building Scheme

24.6.2023
According to a lawsuit filed this week with the U.S. Bankruptcy Court for the District of Delaware, FTX lawyers are seeking to claw back $700 million from K5 Global Technology, its subsidiaries, and the firm’s founders. The attorneys allege that the defendants received funds without...