The U.K. and the U.S. are reviewing tether transactions, valued at $20 billion, processed by the sanctioned cryptocurrency exchange Garantex. Digital currency transactions and crude oil sales are believed to be a significant source of foreign currency for Russia. Russia Sanctions Busting The U.K. and the U.S. are reportedly reviewing cryptocurrency transactions valued at $20…
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U.S. Senate candidate John Deaton has called for the resignation of U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. “Under Gensler, the SEC has forgotten, or intentionally abandoned, its primary mission in protecting innocent investors,” he stressed. Deaton Calls for Gensler’s Resignation John Deaton, a U.S. Senate candidate running against incumbent U.S. Senator Elizabeth…
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The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern District of New York, accuses Kucoin of multiple regulatory breaches involving these digital assets. Kucoin’s Legal Battles Shine a Bright…
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The U.S. Securities and Exchange Commission (SEC) is seeking nearly $2 billion in fines from Ripple Labs in the ongoing XRP lawsuit. “There is absolutely no precedent for this,” exclaimed Ripple’s CEO regarding the $2 billion fine. “We will continue to expose the SEC for what they are when we respond to this.” SEC Wants…
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A new set of anti-money laundering laws passed by the EU has banned crypto asset service providers from servicing and providing custody to anonymous cryptocurrency accounts. The approved proposal for the “prevention of the use of the financial system for the purposes of money laundering or terrorist financing” alleges these assets present “risks of misuse…
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Ripple’s chief executive believes the U.S. Securities and Exchange Commission (SEC) will be unsuccessful in classifying ether as a security, similar to how the agency lost its legal battle, for the most part, against XRP. Noting that the SEC has been “losing badly in courts” against crypto firms, the Ripple CEO stated: “At what point…
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At a recent gathering at the Columbia Law School Conference, Gary Gensler, the chair of the U.S. Securities and Exchange Commission, addressed the assembly on the topic of the digital currency landscape. His discourse highlighted the “benefits of mandatory disclosure,” with Gensler humorously alleging that certain “participants in crypto securities markets that seek to avoid…
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The U.S. Securities and Exchange Commission (SEC) has submitted its 2025 budget request, which will partly fund the securities watchdog’s efforts to regulate the crypto sector. “We’ve seen the Wild West of the crypto markets, rife with noncompliance,” SEC Chair Gary Gensler stressed. “As the cop on the beat, we must be able to meet…
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The Argentine Senate passed a law that creates a registry for any institution that offers cryptocurrency services in the country. The CNV, the Argentine securities enforcer, will manage this registry, which also establishes obligations for crypto companies to deliver personal information on their customers and other data to government entities. Argentine Senate Passes Crypto Anti-Money…
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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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