A Florida resident has been charged by the CFTC for raising $1.6 million through a fraudulent cryptocurrency and forex trading scam. The United States Commodity Futures Trade Commission (CFTC) has filed a complaint against Florida resident Alan Friedland for fraudulently raising $1.6 million through a cryptocurrency tied to a forex trading scheme. The April 16…
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The lead plaintiff in a lawsuit against ATB Coin for its $20 million ICO will settle the case for just $250,000. In a continuation of ATBCoin’s class action lawsuit over its $20 million dollar Initial Coin Offering, or ICO, the lead plaintiff has filed to settle the case for 1.5% of the total raised. While…
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Gibraltar’s digital and financial services minister has revealed updates to the territory’s regulation of DLT firms, with new rules addressing market manipulation. Gibraltar’s minister for digital and financial services, Albert Isola, has announced forthcoming regulations to reduce market manipulation among blockchain firms. In an interview with The Banker published April 10, Isola also discussed his…
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An SEC lawsuit against the alleged operators of a fraudulent ICO has been halted amid parallel investigation concerns. Prosecutors have paused a United States Securities and Exchange Commission (SEC) lawsuit against the alleged operators of a $30 million fraudulent ICO amid concerns that proceedings may impact the integrity of a parallel investigation into the defendants.…
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Toilet Paper Token has surged over 1,000% in price as people flocked to the now-sold out asset. It’s April Fool’s day somewhere, or at least in CoinMarketCap’s neck of the woods, as the cryptocurrency data site saw massive volumes for new “Toilet Paper Token.” A website known for listing cryptocurrencies in order of market cap…
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The SEC has opposed Telegram’s request for clarification as to whether the injunction granted against its Gram distribution has jurisdiction outside of the United States. The United States Securities and Exchange Commission has opposed Telegram’s request for clarity regarding the geographic scope of a court injunction barring the company from distributing its Gram (GRAM) tokens.…
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Telegram’s GRAM token passes the Howey test and is subject to regulation, says the SEC. How far can a preliminary injunction from an American court reach? The answer to that question is everything for Telegram’s embattled TON blockchain project. TON has been under legal fire since shortly after the SEC became aware of its token…
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The trial of two of Centra Tech’s founders has been tenuously postponed until September 3 amid coronavirus disruptions. The upcoming trial of two men accused of running the fraudulent Centra Tech initial coin offering (ICO), which raised $60 million after soliciting celebrity endorsements in 2018, has been postponed until September 2020. On March 26, a…
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The SEC has been granted an injunction to prevent the distribution of Grams with the U.S. court saying that there would be a “near certain risk of a future harm.” A United States District Court has granted an injunction against Telegram, preventing the company from issuing its GRAM tokens at the present time. Court says…
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The Tezos Foundation moves to settle the $25 million consolidated class-action it has been fighting since 2018. The Tezos Foundation moved to settle its $25M consolidated class-action lawsuit on March 20, following more than two years of fighting in court. In a post on its website, the foundation claims to have chosen to settle due…
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