The post South Korea Poised to Greenlight Spot Bitcoin ETFs in June appeared first on Coinpedia Fintech News
South Korea is on the brink of a major financial development as the Democratic Party gets ready to introduce spot Bitcoin ETFs to the local market. This initiative reflects the party’s campaign promises and could radically change how cryptocurrencies are perceived and traded within the country. Initial Moves Toward Regulatory Change According to Blooming Beat, …
The post Robinhood Ready to Fight SEC Crypto Accusations, Analysts See Victory Ahead! appeared first on Coinpedia Fintech News
In a recent report, KBW brokers made a bold prediction: Robinhood Markets Inc. (NASDAQ: HOOD) is gearing up for a legal showdown with the United States Securities and Exchange Commission (SEC) – and according to KBW, Robinhood is poised to emerge victorious. The brokerage firm’s analysts emphasized that despite the looming threat, Robinhood intends to …
The post From Kraken to Robinhood: Crypto Giants Confront SEC’s Expanding Grip appeared first on Coinpedia Fintech News
Recent regulatory actions by the U.S. Securities and Exchange Commission have drawn criticism not only from the common public but also from professionals. Multiple crypto exchanges and platforms have raised concerns about the SEC’s rigid behavior towards the crypto industry. From Kraken to Coinbase and now Robinhood, the SEC’s aggressive stance has made some question …
The post Nigerian SEC To Meet Foreign Exchanges In The Midst Of Regulatory Tussle appeared first on Coinpedia Fintech News
Emomotimi Agama, the pro-crypto Director General of Nigerian SEC is set to meet local and foreign crypto CEXs at an event on May 6th amidst its regulatory battle. The meeting is for setting up a progressive regulatory course for the Crypto sector in the country. The news comes in as Nigeria fights a legal battle …
United States Attorney Damian Williams and FBI Assistant Director James Smith announced the unsealing of an indictment charging Idin Dalpour with wire fraud concerning a multi-year crypto Ponzi scheme that defrauded investors of at least $43 million. Wire Fraud Indictment Unveils $43M Ponzi Scheme The indictment alleges that from approximately 2020 to April 2024, Dalpour […]
Russian lawmakers have announced their intention to introduce restrictions on the circulation of crypto assets, which could be implemented as early as September 1. The Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, revealed that a vote on a ban on organizing cryptocurrency circulation will be held in the coming weeks. […]
The post How Yellen’s Treasury Strategies Could Boost the Crypto Markets in Q2 2024 appeared first on Coinpedia Fintech News
Secretary Janet Yellen and the upcoming Treasury General Account (TGA) strategies following a significant $200 billion boost in tax receipts. The financial community is buzzing with speculation about Yellen’s potential moves during the 2Q24 refunding announcement next week, especially considering the impact these decisions could have on liquidity, federal funding, and broader market dynamics. As …
The post US FBI Issues Stark Warning Against Unregistered Cryptocurrency Services appeared first on Coinpedia Fintech News
The U.S. regulatory forces have launched a full-fledged attack on cryptocurrency services that are not registered to the U.S. and do not comply with their rules. The Federal Bureau of Investigation has warned American consumers about the risks of using cryptocurrency money-transmitting services not registered as Money Services Businesses (MSBs). FBI’s Warning on Unlicensed Cryptocurrency …
In a Brooklyn federal court, a crypto-influencer on social media sites such as Instagram, Jebara Igbara, also known as “Jay Mazini,” was sentenced to 84 months for wire fraud, wire fraud conspiracy, and money laundering. According to the United States Attorney’s Office for the Eastern District of New York, Igbara’s schemes resulted in substantial financial […]
The post U.S. DOJ Cracks Down on Samourai Wallet for Alleged Money Laundering appeared first on Coinpedia Fintech News
Samourai Wallet developers released a beta version in 2024 allowing atomic swaps of bitcoin/monero. This new feature streamlined secure swaps between BTC and XMR using the Tor network. This release came amidst government scrutiny of privacy coins and exchanges delisting them. In October, FinCEN proposed new rules for crypto-mixing services. This was done to reduce …
The post Binance Sued in Canada: Ontario Court Files Class Action Lawsuit Over Crypto Derivatives appeared first on Coinpedia Fintech News
Binance is facing yet another regulatory scoop! In a recent landmark decision, Ontario’s Superior Court of Justice has given the green light to a class action lawsuit against Binance Holdings Ltd., a major player in the world of cryptocurrency trading. Binance once Again in a Regulatory Tug-of-War The lawsuit alleges Binance violated securities laws by …
The post Doubts Arise: Is the Warren Cryptocurrency Wealth Tax Letter Legitimate? appeared first on Coinpedia Fintech News
A letter proposed by U.S. Senator Elizabeth Warren addressed to President Joe Biden has been circulating online, proposing a wealth tax on cryptocurrency holders and mandatory reporting to the Internal Revenue Service (IRS). This letter, allegedly advocating for a “Cryptocurrency Reporting and Wealth Tax Act,” has however raised doubts regarding the authenticity of the letter, …
The post IMF Acknowledges Bitcoin’s Role in Cross-Border Financial Flows Amid Global Instability appeared first on Coinpedia Fintech News
A recent report by the International Monetary Fund (IMF) has highlighted Bitcoin’s increasing role as a key financial tool, especially in regions facing economic distress or strict capital controls. Bitcoin: Critical Tool for Economic Freedom The report, titled “A Primer on Bitcoin Cross-Border Flows,” underscores how Bitcoin has become essential for preserving wealth and enabling …
The post XRP Holder’s Attorney Represents Thousands of Coinbase Customers in SEC Battle appeared first on Coinpedia Fintech News
Ripple’s XRP Holder’s Attorney to Represent Over 4,700 Coinbase Customers in SEC vs. Coinbase Case A few hours later after Eleanor Terret’s interview with the Securities and Exchange Commission (SEC) and Coinbase, the Fox Business journalist XRP holders’ attorney John E Deaton sought permission to represent a sizable group of Coinbase customers. XRP holders’ attorney …
The post SEC vs Coinbase : Here are the Implications of Coinbase’s Interlocutory Appeal Request If Denied appeared first on Coinpedia Fintech News
In a high-stakes drama, Coinbase, a major player in the crypto industry, has filed a motion seeking clarity from a U.S. court regarding a key question raised by the SEC in their ongoing legal battle. This question concerns whether an investment contract entails any obligations after its sale. While Coinbase asserts that post-sale obligations are …
The post Ripple vs SEC Settlement Expectations Runs High: What to Expect on April 16th appeared first on Coinpedia Fintech News
Anticipation is mounting in the cryptocurrency community as rumors circulate about a potential settlement between Ripple and the Securities and Exchange Commission (SEC). It has reached a fever pitch with the final pretrial conference scheduled for tomorrow. Speculation is rampant, with many in the XRP community betting on a favorable outcome that would vindicate Ripple …
The post Coinbase vs SEC : Coinbase Requests for Interlocutory Appeal on Investment Contracts Ruling appeared first on Coinpedia Fintech News
Eleanor Terrett, the renowned FOX Business journalist, just broke the news via Twitter. According to her, Coinbase has officially requested permission from Judge Failla to seek an interlocutory appeal regarding a ruling on investment contracts. This comes in the wake of a stressful time where the interpretation of the Howey Test on cryptocurrencies has become …
The post Sam Bankman-Fried Fights Back: Appeals 25-Year Fraud Sentence appeared first on Coinpedia Fintech News
After a year-long odyssey of legal trials and appeals and finally being sentenced, Sam Bankman-Fried, the former crypto mogul and co-founder of the FTX cryptocurrency exchange, has lodged an appeal against his conviction and 25-year prison sentence. Let’s dive deeper into the details – Sam Bankman-Fried Appeals Against Conviction The face of the defendant party, …
A recent Fortune Magazine report revealed that Dapper Labs, a prominent non-fungible token (NFT) company, was under investigation by the Securities and Exchange Commission (SEC) until September 2023. The internal agency document obtained by Fortune indicates that the investigation was abruptly closed, leaving many questions unanswered. Dapper Labs Investigation Terminated By SEC Chief Per the […]
In a significant development that highlights the Securities and Exchange Commission’s (SEC) increasing regulatory actions against the cryptocurrency industry, Uniswap Labs, the software development company behind the Uniswap decentralized exchange (DEX), recently received a Wells Notice from the SEC. A Wells notice is a formal communication issued by the US SEC to individuals or entities […]
According to local media reports, Tigran Gambaryan, Binance’s Head of Financial Crimes Compliance, has been remanded in custody in Abuja, Nigeria. The Federal High Court in Abuja postponed the hearing of Gambaryan’s bail application for 11 days, with the remand order continuing until the bail hearing on April 18. The judge, Emeka Nwite, agreed with […]
The post SEC WINS – NY Jury Holds Terraform Labs and Founder Do Kwon Liable in Civil Fraud appeared first on Coinpedia Fintech News
A New York jury in Manhattan Federal Court has found the Singapore-based Terraform Labs and its founder Do Kwon, liable for civil fraud charges. The verdict was passed after just two weeks of trial, which held the U.S. Securities and Exchange Commission’s allegations of misleading investors in 2022 as true and made the prosecutors declared …
US-based cryptocurrency exchange Coinbase has obtained a registration license in Canada, signaling its intention to expand internationally amid increasing regulatory scrutiny in the US market, led by the Securities and Exchange Commission’s (SEC) ongoing crackdown on the industry. The company announced that it has been registered as a restricted dealer in Ontario under the Canadian […]
The post HKVAEX Fallout: Exploring the Connection to Binance and Regulatory Concerns appeared first on Coinpedia Fintech News
Recent revelations by Wu Blockchain have sent shockwaves through the cryptocurrency community, unveiling the abrupt closure of the Hong Kong exchange HKVAEX. Suspected to be affiliated with Binance, HKVAEX announced its permanent closure, prompting all users to withdraw their assets before April 30. Timeline of Events According to reports, HKVAEX submitted a license application to …
Following a recent lawsuit against prominent crypto exchange KuCoin, Caroline D. Pharm, a Commissioner at the Commodity Futures Trading Commission (CFTC) has warned that the agency may be infringing on the Securities and Exchange Commission’s authority in regards to securities trading. This development comes as both financial regulators continue the tussle over the control of […]
The post SEC’s Legal Tactics: Applying Coinbase Ruling in Binance, CZ Lawsuits appeared first on Coinpedia Fintech News
Cryptocurrency exchanges like Binance, Coinbase, Kraken, and Kucoin are in hot water due to legal issues. Binance faces a vast $4.3 billion fine for money laundering, while the SEC sued Coinbase for running an unregistered exchange. Kraken settled for $30 million with the SEC, and now Kucoin is facing criminal charges. These problems show how …
In a joint effort, Republican lawmakers led by House Financial Services Committee Chair Patrick McHenry and House Agriculture Committee Chair Glenn Thompson have called upon Securities and Exchange Commission (SEC) Chair Gary Gensler to provide further clarification on the agency’s stance regarding the custody of Ethereum (ETH) by Prometheum. The lawmakers, including Representatives French Hill, […]
A recent development highlights the ongoing interagency drama between the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC): the classification of major cryptocurrencies has become a focal point of contention. Once again, the CFTC has affirmed its position that Ethereum (ETH) and several other cryptocurrencies should be classified as commodities, […]
The post Coinbase vs SEC : Court Rules Against Coinbase in Anticipated Judgment appeared first on Coinpedia Fintech News
OPINION AND ORDER granting in part and denying in part 35 Motion for Judgment on the Pleadings: For the forgoing reasons, the Court DENIES Defendants’ motion for judgment. New filing: "SEC v. Coinbase"Doc #105: OPINION AND ORDER granting in part and denying in part 35 Motion for Judgment on the Pleadings: For the forgoing reasons, …
In a significant development, federal prosecutors in the United States have charged cryptocurrency exchange KuCoin and two of its founders with violating anti-money laundering (AML) laws. Founders Face DOJ Charges The US Department of Justice (DOJ) unsealed an indictment against KuCoin and its founders, Chun Gan (also known as “Michael”) and Ke Tang (also known […]