Legal action against Circle Society and its operator continues, two months after regulators charged both with fraud over an alleged $11 million BItcoin scheme. A United States court has granted regulators a preliminary injunction against an alleged Bitcoin (BTC) Ponzi scheme which reportedly defrauded investors of $11 million. In a filing with the United States…
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Digital payments giant PayPal is suing the Consumer Financial Protection Bureau for making it provide disclosures for fees it does not charge. PayPal is suing the Consumer Financial Protection Bureau (CFPB) for requiring the firm to make “misleading and confusing” disclosures about its fees. The digital payments giant filed a lawsuit against the CFPB on…
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According to new court filings, investors in Telegram’s $1.7 billion token sale included Kleiner Perkins, Lightspeed China and many others. Two global financial giants, BNY Mellon and Credit Suisse, were reportedly involved in Telegram’s $1.7 billion Gram (GRAM) token sale in 2018. Telegram allegedly informed its investors that it was using BNY Mellon and Credit…
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The U.S. SEC is seeking to reopen a case against Bitcoin fraudster Renwick Haddow, as he has not resolved the regulator’s claims for monetary relief. The United States Securities and Exchange Commission (SEC) has filed to reopen a case against Bitcoin (BTC) fraudster Renwick Haddow as he has not resolved the regulator’s claims for monetary…
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Ripple has filed a motion to dismiss a class-action lawsuit alleging that it held an unregistered securities offering of XRP tokens. Ripple has filed a motion to dismiss a class-action lawsuit alleging that it held an unregistered securities sale of its XRP tokens. In court documents filed on Dec. 4, Ripple argues that the plaintiffs’…
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A Danish court has ruled that the country’s major bank Nordea can bar its employees from owning Bitcoin and other digital currencies. A Danish court has ruled that Scandinavian financial services giant Nordea can bar its employees from owning Bitcoin (BTC) and other digital currencies. As BNN Bloomberg reported on Dec. 3, the court justified…
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In a recent development in the SEC case against Telegram, a judge preserved the regulator’s motion to strike Telegram’s void for vagueness defense. A United States federal judge has preserved the Securities and Exchange Commission’s (SEC) move to strike Telegram’s “void for vagueness/lack of notice” defense. According to a letter dated Nov. 25, the SEC…
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A former executive of a Hollywood-based digital marketing firm, Dennis Blieden, has admitted to embezzling $22 million from his employer to buy digital currency. A former executive of a Hollywood-based digital marketing firm has admitted to embezzling $22 million from his employer to buy digital currency. The United States Attorney’s Office of the Central District…
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CX Technologies, the firm behind a supposedly Estonia-based cryptocurrency exchange DX.Exchange, is ceasing operations following a petition filed by its employees. The firm behind a purportedly Estonia-based cryptocurrency exchange DX.Exchange is ceasing operations following a petition filed by employees. CX Technologies, the Israeli company operating DX.Exchange, entered bankruptcy after 78 of its employees filed a…
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In an escalating argument on social media, Changpeng Zhao promises legal action after The Block doubled down on its widely disputed Binance coverage. The CEO of cryptocurrency exchange Binance has vowed to sue industry media outlet The Block over alleged false reporting. In an ongoing Twitter exchange on Nov. 22, Changpeng Zhao, known as CZ…
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