In a recent filing on September 22nd, it has been alleged that the co-founders of the now-defunct Terra blockchain project had planned to carry out fraudulent transactions during the development of the project. The Securities and Exchange Commission (SEC) claimed that Terraform Labs, the company behind the Terra blockchain, collaborated with a payments app called
Regulation
Crypto exchange Coinbase has made a significant breakthrough in the global financial market by receiving regulatory approval from the Bermuda Monetary Authority (BMA). This approval allows Coinbase to offer perpetual futures to non-U.S. retail customers, furthering its mission to modernize the global financial system. This move demonstrates Coinbase’s commitment to providing economic freedom and opportunity
Ripple’s chief legal officer, Stuart Alderoty, has made a bold claim regarding the upcoming appearance of Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chairman, before the Senate Committee on Financial Services. Alderoty argues that Gensler may make misleading statements during his testimony. Specifically, he suggests that Gensler might assert the existence of a
The U.S. Securities and Exchange Commission (SEC) has once again deferred its decision on a major spot Bitcoin exchange-traded fund (ETF), causing further delay and uncertainty for investors. The SEC’s filing on Sept. 26 acknowledged the proposal for the approval and listing of the ARK 21Shares Bitcoin ETF by Cboe BZX. While the filing was
The U.S. Securities and Exchange Commission (SEC) has raised concerns over a reorganization plan put forth by the bankrupt cryptocurrency firm Celsius. The plan involves enlisting Coinbase, a prominent crypto exchange, to act as a distribution agent in order to return funds to affected users. However, the SEC argues that Coinbase’s role goes beyond the
Hong Kong’s Securities and Futures Commission (SFC) has implemented new measures in response to the fallout from the JPEX incident, aiming to strengthen investor protection and enhance regulation in the cryptocurrency industry. These measures include the publication of a comprehensive list of licensed Virtual Asset Trading Platforms (VATPs), the launch of a fraud prevention publicity
India’s crypto ecosystem has received a glimmer of hope following the conclusion of the G20 summit. The summit, which represents the most influential economies worldwide, has fully endorsed the recommendations from the IMF and FSB as a Synthesis paper. These guidelines aim to provide a clear path for the policy and regulatory framework for crypto
Regulators in Poland have initiated a case against OpenAI, an announcement revealed on Sept. 20. The Personal Data Protection Office in Poland stated that it is examining a complaint made by an individual regarding OpenAI’s popular ChatGPT app. The complainant alleged that OpenAI mishandled data, lacked transparency, and provided erroneous responses. According to the complaint,
Ripple (XRP) CEO Brad Garlinghouse recently made a significant move by meeting with members of the U.S. Congress to discuss the issue of regulatory clarity in the cryptocurrency industry. In a social media post, Garlinghouse expressed the importance of engaging with elected officials who are proposing bills in order to achieve regulatory clarity. This proactive
The Securities and Exchange Commission (SEC) has been closely monitoring the cryptocurrency industry, expressing concerns about its lack of regulation. This regulatory body considers many cryptocurrencies as securities, subjecting them to federal securities laws. While this has resulted in increased scrutiny and enforcement actions against unregistered securities offerings, it has also led to heated debates
