In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken…
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A report indicates that the U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to the financial services provider Robinhood. This action by the SEC concerns the company’s operations in the cryptocurrency sector and its listing of crypto assets. SEC Mulls Enforcement Against Robinhood’s Crypto Ventures, Company Says It Is Cooperating The staff…
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In a significant legal move, Consensys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) to protect the Ethereum blockchain from what it deems overreaching regulations. A report further alleges that the SEC issued a Wells Notice to Consensys, asserting that Metamask functions as an “unlicensed broker-dealer.” Consensys Confronts SEC Following Receipt…
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Crypto exchange Binance is not a registered corporation in the Philippines hence its activities in the country are not above board, the Asian country’s securities regulator has said. The regulator warned of a possible jail term for individuals found enabling Binance’s activities in the Philippines. Licensed Overseas Organizations Still Need to Get Local Approval According…
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America’s securities regulator has been urged to decide if it will approve a plan to transform Celsius Network into a bitcoin mining firm. The proposal seeks to repay customers of the bankrupt cryptocurrency lender with both crypto assets and stock in a new publicly traded mining entity. New York Judge Hopes for Expedited SEC Decision…
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The securities regulator and the central banking institution of Hong Kong have updated the region’s crypto policy in response to enquiries from the industry. In a circular on the virtual asset-related activities of intermediaries, the authorities introduced additional measures to protect retail investors, restricting their access to what they describe as “complex products.” Hong Kong…
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Decentralized finance (defi) brings risks for investors but is yet to pose “meaningful risks” to financial stability, according to Europe’s securities watchdog. The agency believes, however, the phenomenon deserves attention in light of the EU’s new crypto rules as well as growing user base and has presented its assessment of the sector’s development. Defi Requires…
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The joint group was established in light of the ongoing crypto scandal in Hong Kong involving the JPEX crypto exchange. The Hong Kong Police Force (HKPF) and the Securities and Futures Commission (SFC) have set up a crypto-focused working group to deal with illicit crypto exchange activities. In an Oct. 4 statement, the SFC said…
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Asset manager Franklin Templeton has joined the race to issue America’s first exchange-traded fund (ETF) that invests directly in bitcoin. The company applied with the U.S. Securities and Exchange Commission (SEC), following in the footsteps of other major investment firms like Fidelity and Blackrock. Franklin Templeton Files for Spot Bitcoin ETF With U.S. SEC California-based…
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Lawyers representing crypto asset manager Grayscale Investments urged the Securities and Exchange Commission (SEC) to “expeditiously” approve a spot bitcoin exchange-traded fund (ETF) in a letter sent to the agency. Grayscale’s letter follows a unanimous ruling by a panel of the U.S. Court of Appeals for the D.C. Circuit Court on August 29 that vacated…
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