Ripple Or US SEC, Who’s Winning Investment Contract Claim?
The assertion of the US SEC has brought into question the interpretation of the term "investment contract", as stated by both Ripple and the defendants.
Binance Faces Scrutiny As Dubai Demands Crucial Information; BNB Price Drops
According to recent reports, the Dubai regulator is imposing increased scrutiny on Binance, which has prompted the exchange to provide additional information.
Justin Sun Clarifies About Plans To Sell Huobi Global
In a statement, Justin Sun provided clarification regarding the speculation surrounding the potential sale of stakes in the cryptocurrency exchange, Huobi Global.
Paxful, a Peer-to-Peer Bitcoin Marketplace, Ceases Operations
P2P bitcoin exchange Paxful is closing its marketplace, citing legal difficulties in the P2P market and in the US. The CEO also expressed concern about the security of client money due to a lawsuit brought by a co-founder. The Paxful Wallet will continue to function, but customers are urged to switch to self-custody or other service providers.
Latest Update: Do Kwon's Maximum Sentence in the US Exceeds 100 Years
Do Kwon, CEO of Terraform, is facing eight felony counts, including investor fraud and commodity fraud, and his maximum penalty in the US can be over 100 years, while in South Korea it is only around 40 years. Former FTX CEO, Sam Bankman-Fried, could face a similar or harsher punishment. Kwon's defense attorney claims his business had limited contact with the US, and Kwon may be trying to avoid trial in the US to reduce the penalty.
FTX EU LTD Begins Fund Return Process, Subject to Anti-Money Laundering Checks
The Cyprus Securities and Exchange Commission (CySEC) has approved FTX EU LTD's plan to return funds to its customers, following the failed cryptocurrency exchange FTX's bankruptcy. Customers can request their balances and initiate withdrawals, but will need to go through anti-money laundering checks.
Chinese Central Banker Urges Enhanced Regulation for Cryptocurrency Risks
Senior official from China's People's Bank of China (PBOC), Xuan Changneng, urges enhanced regulation for cryptocurrency risks, citing recent collapses of crypto-friendly banks in the United States. Changneng emphasizes the need to upgrade regulation philosophy, technology, and capability of regulators, while also highlighting the importance of Chinese government's participation in international cooperation for effective regulatory regimes. China adopts a cautious approach towards financial innovation and aims to strike a balance between innovation and financial stability. Overall, China's officials emphasize careful evaluation of risks and potential impacts on financial stability in regulating cryptocurrencies and financial innovations.
Bittrex Pulls Out of US Market, Cites Regulatory Environment
Cryptocurrency exchange Bittrex is shutting down its US activities due to an unclear legal climate and increasing regulatory ambiguity. Users of the exchange have until April 30, 2023, to withdraw their verified money. The move comes after the New York Department of Financial Services refused to grant Bittrex a BitLicense earlier this year, and amid regulatory obstacles faced by other large bitcoin businesses. Bittrex Global, the company's non-US division, will continue to operate in the tax-friendly nation of Liechtenstein.
Musk Moves To Terminate The $258 Billion Lawsuit Concerning Dogecoin
Elon Musk and Tesla have requested the dismissal of a $258bn racketeering lawsuit that accuses Musk of running a pyramid scheme to promote Dogecoin, calling it a "fanciful work of fiction". Dogecoin investors allege that Musk deliberately increased the price of the cryptocurrency before allowing it to collapse, making billions of dollars of profit at the expense of other Dogecoin investors.
Kraken Moves To Become A Registered Restricted Dealer In Canada
Kraken, the San Francisco-based cryptocurrency exchange, has filed a pre-registration undertaking with the Ontario Securities Commission as part of its bid to become a regulated provider across Canada. The move comes as the Canadian Securities Administrators implements a coordinated oversight regime for cryptocurrency activities.
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