In this week’s newsletter, we look at a series of developments that test the limits of governmental authority over crypto, as well as the contest with social media. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note New developments in crypto this week…
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For the first time, the former Finance Secretary of India who proposed a blanket ban on cryptocurrencies discussed digital assets with industry leaders. During a webinar on July 17, the former Finance Secretary of India, Subhash Chandra Garg, discussed cryptocurrencies with Indian industry leaders including Nischal Shetty, the CEO of Indian crypto exchange WazirX, and…
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Binance is said to be “operating a recognized market” without authorization from the Malaysian regulator. Top cryptocurrency exchange Binance was added to the Securities Commission Malaysia’s list of unauthorized entities earlier today. According to the regulator, the digital asset trading platform is “operating a recognized market without authorization from the SC”. Malayisan law requires cryptocurrency…
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Blockchain security company traced more than $1.4 billion of laundered money to top ten crypto exchanges. The latest report by Peckshield, a blockchain security company, shows that more than $1.4 billion of laundered money has moved onto crypto exchanges in 2020. Peckshield says it has been collecting data both online and offline for more than…
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In the civil case against him, Abramoff owes $55,000, but the judgment in the criminal case remains to be seen. Per a July 15 judgment in the case of the SEC v. Abramoff, Jack Abramoff will pay $55,000 in disgorgement and interest for his involvement in promotion for AML Bitcoin. Abramoff will also be permanently…
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New suit looks to recover nearly three quarters of a million dollars from alleged ponzi scheme that claimed major altcoin gains amid crypto winter. Per a July 15 complaint from two former investors who have been unsuccessful in getting their money back, Utah-based Crypto Traders Management advertised an investment strategy that constituted an unregistered security,…
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Jack Abramoff has pleaded guilty to multiple counts of fraud relating to his promotion of the 2018 AML BitCoin ICO. Notorious political lobbyist Jack Abramoff has pleaded guilty to charges of conspiring to defraud investors, conspiring to commit wire fraud, and violations of the Lobbying Disclosure Act relating to the 2018 initial coin offering (ICO)…
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Faculty at the Rotterdam School of Management argue that STOs are better for financing startups than ICOs. Thomas Lambert, Daniel Liebau, and Peter Roosenboom from the Rotterdam School of Management suggest that Security Token Offerings are better at financing start-ups than Initial Coin Offerings. Their research was published on July 14 via the University of…
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Two promoters of $4 billion crypto exit scam OneCoin have been found dead in Mexico. Two promoters of a major cryptocurrency exit scam, OneCoin, have been found dead in Mazatlan, Mexico. Oscar Brito Ibarra and Ignacio Ibarra, two major OneCoin promoters, were apparently kidnapped and killed in Mexico, Cointelegraph en Español reported on Tuesday. According to…
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Crystal Blockchain reports that crypto transfers in the Republic of Seychelles keep growing as regulatory pressure increases for the G20. A new report released on Tuesday by Crystal Blockchain attempts to categorize cross-border transactions of Bitcoin based on their “country of origin,” which may have important implications for the FATF Travel Rule. The analysts used…
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