In a detailed letter to Judge Lewis Kaplan, the legal representatives for Sam Bankman-Fried, the embattled founder of cryptocurrency exchange FTX, have vehemently argued against the government’s recommendation for a 50-year prison sentence, labeling it as a “medieval view of punishment.” Legal Team Contests Proposed 50-Year Sentence for Sam Bankman-Fried as Unjust and Excessive In…
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With only three weeks remaining until the general election, South Korea’s rival political parties are vying for support from crypto investors, who have emerged as a key voting group. According to local media outlet JoongAng Daily, the parties recognize the significance of addressing cryptocurrency-related policies amid the surging popularity of this nascent industry. Notably, South Korea…
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The Audiencia Nacional (National Hearing), a Spanish special tribunal, has maintained the measures that the AEPD, the private data watchdog in the country, has taken against Worldcoin. The court determined that the defense of the general interest of protecting the people’s data must prevail over the company’s economic interest. Spanish Audiencia Maintains Suspension of Worldcoin…
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In a statement from U.S. Attorney Damian Williams and his team, the fallen FTX founder, Sam Bankman-Fried (SBF), faces a recommendation for up to half a century behind bars for his offenses. The prosecutors argue that SBF has a penchant for high-stake risk and “gambling repeatedly with other people’s money.” SBF’s Path From Finance Tycoon…
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Tether, the company behind the issuance of USDT, the largest stablecoin in the cryptocurrency market, announced that it helped the U.S. government to seize $1.4 million linked to an alleged fraud scheme. According to the Northern District of Illinois U.S. Attorney’s Office, the seizure marks one of the first times that the U.S. has recovered…
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A New York federal judge has ruled that the Securities and Exchange Commission (SEC) has “plausibly alleged” that Gemini and Genesis violated securities laws through the Gemini Earn program. Judge Edgardo Ramos Highlights Hurdles in Dismissing Injunction Claims Early; Cites Howey and Reves A federal court in New York has affirmed the plausibility of the…
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In a significant legal confrontation, Coinbase has filed a challenge against the U.S. Securities and Exchange Commission (SEC) in the Third Circuit, contesting the SEC’s refusal to establish clear rulemaking for digital assets. San Francisco Crypto Exchange Coinbase Initiates Legal Action Against SEC’s Crypto Regulation Approach Coinbase’s legal action underscores the ongoing tension between the…
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A South Korean law firm operator was jailed in Busan on March 11 after being found guilty of stealing clients’ money to spend on crypto investments. The media outlet Newsis reported that the case was heard at the Criminal Division of the Busan District Court. The court sentenced an unnamed individual in their 50s to…
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A proposal aiming to contribute to funding the legal defense of the developers of Tornado Cash, the Ethereum-based mixing platform, was removed by the Arbitrum community over apparent legal concerns. Devansh Mehta, lead of the working group of the Arbitrum treasury, criticized the move, stating that there was “absolutely nothing wrong with paying for the…
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The United States Court of Appeals has reversed a lower court’s ruling dismissing U.S.-based users’ damages claim against Binance. Aggrieved users will once again attempt to prove that their claims do not constitute an “impermissible extraterritorial application” of U.S. securities law. ‘Impermissible Extraterritorial Application’ of Securities Law The U.S. Court of Appeals has revived a…
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