The US-based crypto exchange Kraken is in hot water with regulators over an alleged violation of securities rules related to the selling of “unregistered securities.” The Securities and Exchange Commission’s (SEC) probe into whether Kraken did offer unregistered securities to US consumers is now at an “advanced stage,” Bloomberg reported on Wednesday, adding that the…
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Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users to “participate directly in running open crypto networks.” Coinbase CEO Vocalizes Worry Over…
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Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with the U.S. Securities and Exchange Commission (SEC) to settle for the unregistered offer of its staking services. The exchange will also pay $30 million in disgorgement, prejudgment interest, and civil penalties, as indicated by the…
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A state commission recommended that New Hampshire eliminate the gray area in which cryptocurrency companies currently operate. New Hampshire is on the verge of becoming a national leader in cryptocurrency if its legislature follows through on recommendations made by a commission appointed by Governor Chris Sununu. The recommendations would establish a legal framework for blockchain…
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The former FTX CEO’s bail restrictions will remain in place until Feb. 21 following the judge’s ruling to extend a ban on using certain messaging apps. A federal judge has reportedly denied oral arguments proposing former FTX CEO Sam Bankman-Fried be allowed to use certain messaging apps. According to a Feb. 9 Reuters report, Judge…
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Dubai’s virtual asset authority has prohibited the use of privacy coins such as Monero (XMR) and ZCash (ZEC), as well as any activities related to the coins. According to the new set of crypto regulations, “The issuance of Anonymity-Enhanced Cryptocurrencies and all VA Activity[ies] related to them are prohibited in the Emirate.” The regulator defines…
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Linda Jeng will appear as a witness alongside law professor Yesha Yadav and Duke Financial Economics Center policy director Lee Reiners. United States lawmakers with the Senate Banking Committee have announced three witnesses scheduled to appear before a hearing scheduled on Feb. 14. At the time of publication, the U.S. Senate Banking Committee’s hearing titled…
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Elizabeth Warren, the Democratic Senator who is known as a fierce crypto critic, is now part of an effort by lawmakers to learn more about the energy use of crypto mining. The new initiative aims to increase the transparency requirements for crypto mining companies, particularly when it comes to the potential for pollution and emission…
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The financial watchdogs targeted self-directed individual retirement accounts with potential exposure to crypto in a warning to investors. Three financial watchdogs in the United States have issued a warning to investors considering certain individual retirement accounts with exposure to cryptocurrencies. In a Feb. 7 notice, the United States Securities and Exchange Commission’s Office of Investor…
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