In a landmark ruling, the United States government announced that it would return approximately 94,000 Bitcoin (BTC) seized from the infamous Bitfinex hacking incident of 2016 to the exchange itself. This decision is part of a broader in-kind restitution process, which underscores the ongoing examination of victimhood in cryptocurrency crimes. Notably, the ruling indicates that
Exchanges
In a landmark ruling, the U.S. Department of Justice (DOJ) levied a hefty $100 million fine against BitMEX and its parent entity, HDR Global Trading Limited, for infractions under the Bank Secrecy Act (BSA). Following a protracted legal battle, BitMEX conceded to these violations in July 2024, reflecting the mounting pressure that cryptocurrency exchanges face
In a significant stride towards enhancing its presence in the Middle East and North Africa (MENA) region, HashKey Group has announced that it has received in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This development, revealed in a statement on January 13, signals HashKey’s determination
The fallout from the collapse of FTX, once a titan in the cryptocurrency exchange arena, continues to unfold amidst a complex backdrop of bankruptcy proceedings and alleged mismanagement. FTX’s dire situation has not only shaken investors but has triggered extensive legal battles, with various entities navigating the murky waters of cryptocurrency regulation and asset recovery.
The emergence of decentralized platforms has ushered in a new era of innovation within betting and prediction markets, yet it has not been without challenges. Polymarket, a decentralized prediction platform, finds itself at the center of a storm as it grapples with regulatory backlash and public discontent. This article will delve into the multifaceted issues
In 2024, Kazakhstan took a significant step in its efforts to combat illegal financial practices by intensifying its crackdown on unauthorized cryptocurrency exchanges. This direct response emerged from the rising concerns regarding the exploitation of these platforms for nefarious activities, particularly money laundering. The Financial Monitoring Agency (AFM) conducted operations against 36 unregistered exchanges, which
Recent disclosures by Paul Grewal, the Chief Legal Officer at Coinbase, have sparked significant concern in the cryptocurrency community regarding the Federal Deposit Insurance Corporation’s (FDIC) stance towards banking services related to cryptocurrencies. Grewal unveiled a series of unredacted communications, commonly referred to as “pause letters,” which indicate that the FDIC has advised banks to
Crypto.com has made significant strides in the United States market by introducing stock and exchange-traded fund (ETF) trading capabilities on its platform. Announced on January 3, this initiative enables users to manage both their crypto portfolios and traditional investments seamlessly through a single application. This move reflects Crypto.com’s ambition to integrate diverse financial instruments, allowing
On December 16, 2023, FTX and its associated debtors made a significant announcement regarding their reorganization plan, intending to take effect on January 3, 2025. This development is crucial for the beleaguered cryptocurrency exchange, as it embarks on the arduous journey of recovery after its infamous collapse in November 2022. With the hopes of regaining
In a significant legal maneuver, Celsius Network has initiated an appeal as of December 31, appealing Judge John Dorsey’s ruling that dismissed its $2 billion defamation claim against the collapsed FTX exchange. This appeal introduces another layer to the already intricate legal proceedings enveloping both Celsius and FTX, highlighting the ramifications of reputational damages within
