Tag: Regulation

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Dubai Regulator Deems Crypto Exchange Bitoasis’ License ‘Non-Operational’

July 12, 2023

Cryptocurrency exchange Bitoasis’ license has been deemed “non-operational” by the Dubai digital assets regulator, the Virtual Assets Regulatory Authority. According to the regulator, VARA took the decisive step after Bitoasis failed to meet “mandated conditions within the prescribed timelines.” VARA-Mandated ‘Remedial Actions’ The Dubai digital assets regulator, the Virtual Assets Regulatory Authority (VARA), announced on…
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Grayscale resolves lawsuit with Fir Tree over proposed changes to Bitcoin Trust

July 11, 2023

Fir Tree hinted at potential additional litigation against Grayscale and parent company Digital Currency Group based on what its GBTC documentation may reveal. Grayscale Investments has reached an agreement with New York-based investment firm Fir Tree Capital Management over its Bitcoin Trust. According to a July 11 announcement from Fir Tree, Grayscale agreed to provide…
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Today in Crypto: Crypto’s ‘Inherent Structural Flaws’ Make It Unsuitable for Monetary System, BIP39 Mnemonic Phrases Can be Turned into Colors, Dev Says He Reverse-Engineered Brazil CBDC Source Code, Algofi to Shut Down

July 11, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Crypto’s ‘Inherent Structural Flaws’ Make It Unsuitable for Monetary System, BIP39 Mnemonic Phrases Can be Turned into Colors, Dev Says He Reverse-Engineered Brazil CBDC Source Code, Algofi to…
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US authorities are investigating former FTX exec for potential campaign finance violations: Report

July 11, 2023

FTX Digital Markets co-CEO Ryan Salame was the individual who first reported FTX to Bahmanian authorities, but he reportedly may face charges of his own in the United States. Prosecutors in New York are reportedly looking into former FTX Digital Markets co-CEO Ryan Salame for potential violations of campaign finance law in the United States.…
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US lawmakers allege CCP connection in calling for SEC, DOJ investigation of Prometheum

July 11, 2023

Republican members of Congress stepped up their allegations of Prometheum’s ties to the Chinese Community Party, claiming potentially false or misleading statements to the SEC. Six members of the United States Congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to…
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Legal proceedings start for Terraform Labs co-founder in South Korea: Report

July 10, 2023

Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin’s trial preparations in South Korea are reportedly underway. Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, has reportedly had his first hearing for charges related to allegedly illicit profits from the sale of Terra (LUNA). According to a July 10…
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Lawyer Outlines What Would Happen if SEC Wins Lawsuit Against Ripple Over XRP

July 9, 2023

A lawyer has outlined what he believes to be the most likely outcome if the U.S. Securities and Exchange Commission (SEC) wins against Ripple Labs and XRP is declared a security. He expects Ripple to appeal if the SEC wins, warning: “If Ripple loses to the SEC, there won’t be any money collected for years.”…
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South Korean Regulator Will Force Staff to Declare Crypto – Will Other Countries Follow Suit?

July 8, 2023

The top South Korean financial regulator will force its employees to declare their crypto holdings in the aftermath of the “Coin Gate” scandal. Lawmakers in the nation have come under fire for suspected insider trading, with one MP accused of selling his tokens in advance of the rollout of a new piece of crypto regulation.…
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Crypto.com petitions US court to uphold arbitration decision for mistakenly sent $50K

July 7, 2023

The exchange said it “erroneously deposited” $50,000 into a user’s account in June 2022, receiving no response to requests to return the funds. Cryptocurrency exchange Crypto.com has petitioned a Florida court to confirm a judgment in its favor through arbitration after the platform mistakenly deposited $50,000 into a user’s account. According to the July 6…
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Today in Crypto: Saga Pulls Back From Blockchain Gaming, Bitfinex Recovers More Stolen Assets, BarnBridge DAO Members Told to Stop ‘All Work’ Amidst Investigation, Lightning Labs Releases Tools for Bitcoin Lightning & AI Devs

July 7, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Saga Pulls Back From Blockchain Gaming, Bitfinex Recovers More Stolen Assets, BarnBridge DAO Members Told to Stop ‘All Work’ Amidst Investigation, Lightning Labs Releases Tools for Bitcoin Lightning…
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