Crypto Mining Operations in Venezuela Forced to Shut Down
Venezuela's energy supplier has closed down crypto mining facilities across the country as part of an ongoing corruption investigation involving the national crypto department and the oil company. The investigation has already led to the arrest of at least 10 people, including the former head of the crypto department.
US SEC Claims Supreme Court Ruling Won’t Help Ripple; What’s Next?
The outcome of Ripple's recent legal submissions in the XRP lawsuit could prove crucial in obtaining a Summary Judgment in its favor.
After Being Detained In Montenegro, Crypto Founder Do Kwon Indicted In The US
South Korean entrepreneur Do Kwon, the co-founder of Terraform Labs, has been arrested in Montenegro and charged with fraud in the US. The DOJ has announced eight charges against Kwon, including securities fraud, wire fraud, commodities fraud, and conspiracy. Kwon and another South Korean citizen were stopped at Podgorica airport while trying to board a flight to Dubai using forged documents from Costa Rica.
Coinbase Faces Potential Lawsuit From U.S. SEC Over Certain Crypto Offerings
The US Securities and Exchange Commission (SEC) has threatened Coinbase with legal action over certain cryptocurrency products, causing the exchange's shares to fall nearly 13%. The action relates to Coinbase's spot market and its Earn, Prime and Wallet products, the company said. The SEC has been increasing efforts to regulate the cryptocurrency industry, with staking services under heightened scrutiny for not being registered.
Justin Sun, Lindsay Lohan, And Other Celebrities Sued By SEC For Crypto Sales
The US Securities and Exchange Commission (SEC) has charged Chinese cryptocurrency entrepreneur Justin Sun and his companies with fraud, accusing them of artificially inflating trading volumes and concealing payments to celebrities to promote their crypto assets. Eight celebrities, including Lindsay Lohan and Soulja Boy, were also accused of illegally promoting the crypto assets. All but two of the celebrities agreed to settle, paying more than $400,000 in total. The SEC has been cracking down on the crypto industry, with SEC Chair Gary Gensler calling it a "Wild West" riddled with misconduct.
Signature Bank's Digital Payments Platform No Longer Supported By Coinbase
Coinbase Global Inc (COIN.O), a significant cryptocurrency exchange, announced on Monday that it no longer supports Signature Bank's (SBNY.O) digital payments instrument, Signet, more than a week after the bank was taken over by US officials.
Bank Stress Test Cleared By Bitcoin
With a 21% increase in value this month, Bitcoin has emerged as a secure refuge amid the current financial crisis and market downturn. Bitcoin has cut its ties with conventional equities and bonds and is rising alongside gold, achieving one portion of its creator's ideal that Bitcoin can be a haven for investors in trying times. While the S&P 500 has lost 1.4% and gold has gained 8%, Bitcoin has severed its ties with traditional stocks and bonds and is rising alongside gold.
Crypto firms Turn to Swiss Banks After Silvergate and Signature Fall
According to sources, Swiss banks have been inundated with inquiries and requests from crypto firms following the failure of two US banks.
A Fresh Cryptocurrency Advertising Regulation Is Set To Be Introduced In Belgium
New rules regulating ads for virtual currencies will go into force in less than two months. (also known as cryptocurrencies). These guidelines are intended to make sure that ads clearly and correctly convey any possible dangers associated with virtual currencies.
More than 80 Companies Are Interested in Setting Up Shop in Hong Kong, the Next Crypto Hub
Virtual asset-related companies have expressed a lot of interest in Hong Kong as the city works to regain its status as a major global center for cryptocurrencies with more accommodative regulation policies.
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