The prosecutor heading the probe into Do Kwon and Terraform Labs believes that Do Kwon may be handed a record 40 year prison sentence. The Terra founder could then be extradited to the US to face trial and serve a separate jail term if convicted.
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The Financial Conduct Authority of UK has unveiled stricter rules for crypto marketing in the country. The new rules will prevent crypto firms from offering "refer a friend" schemes and will require new crypto investors to have a 24 cooling off period.
Coinbase CEO Brian Armstrong has revealed that the crypto exchange will not shut down its staking program. Chief Legal Officer Paul Grewal added that the exchange had no plans to delist the tokens named in the SEC's lawsuit.
The D.C. District Court has summoned Binance CEO Changpeng Zhao in relation with the lawsuit filed against him by the SEC. Zhao has 21 days to respond to the complaint, failing which a default judgement will be entered against him.
Summary: Ark Investment Management bought over 400,000 Coinbase shares as COIN prices slumped thanks to an SEC lawsuit. Cathie Wood’s company filled their coffers as the second largest COIN holders with 11.4 million shares amid tensions surrounding the publicly traded crypto exchange. Coinbase is being sued by the U.S. Securities...
Summary: Data from blockchain intelligence startup Nansen showed negative netflow from Coinbase and Binance after the U.S. SEC sued both crypto exchanges. Binance and Binance US recorded a combined negative outflow north of $400 million 24 hours after the SEC’s lawsuit against rival Coinbase. Coinbase saw a smaller negative netflow...
Summary: Circle Internet Singapore was granted a Major Payment Institution license from the country’s Monetary Authority (MAS). The license allows USDC’s issuer to provide local and cross-border payments and digital payment token facilities in the city-state. Singapore is a springboard for Circle’s international expansion and operations in the greater Asia...
Summary: Market maker Cumberland withdrew nearly 25,000 ETH from Binance and Coinbase. The market maker seems to have bought the dip after crypto prices slumped on the back of SEC lawsuits. Binance and Coinbase are accused of operating unregistered security exchanges in violation of U.S. laws. Both platforms deny the...
The Securities and Exchange Commission has filed an emergency motion in the D.C. District Court seeking a temporary restraining order to freeze Binance US' assets.
Summary: The financial watchdog said 16 cryptocurrencies count as securities according to documents filed at a federal court. Tokens like SOL, MATIC, and ADA were named in lawsuits against Binance and Coinbase alleging violation of U.S. law. Chair Gary Gensler told CNBC that there’s no need for additional digital currencies...
Responding to the lawsuit filed by the SEC against Coinbase, CEO Brian Armstrong has stated that his firm is proud to represent the industry in court in pursuit of clarity surrounding rules for the crypto.
SEC Chair Gary Gensler stated in a recent interview that the United States doesn't need more digital currency. Chair Gensler added that digital currency already existed, in the form of the U.S. dollar and other fiat currencies.