Regulation

A class-action suit was filed against Binance.US and Binance CEO Changpeng Zhao on Oct. 2 in the District Court of Northern California alleging various violations of federal and California law on unfair competition for attempting to monopolize the cryptocurrency market by harming its competitor FTX. The suit was brought by Nir Lahav, who is identified

A parliamentary committee in Kenya’s government tasked with investigating Worldcoin has recommended that regulators shut down the project’s operations in the country. According to a report released on Sept. 30 by Kenya’s parliament, Worldcoin has continued to collect personal data of Kenya’s residents “in total disregard” of an order to stop issued in May —

United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore after securing major regulatory approval from the country’s central bank. Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), the firm announced on Oct. 1. The new license — coming one year after Coinbase’s initial in-principle approval in

The FTX bankruptcy lawsuit reached a key juncture in the second week of September after the United States Bankruptcy Court for the District of Delaware approved the sale of $3.4 billion worth of crypto assets. The court also approved $1.3 billion in brokerage and government-recovered assets as part of the liquidation process, with $2.6 billion

The United States Securities and Exchange Commission (SEC) has commenced legal proceedings against an accounting firm that had provided services to cryptocurrency exchange FTX prior to its bankruptcy declaration. According to a September 29 statement, the SEC alleged that Prager Metis provided auditing services to its clients without maintaining the necessary independence, as it continued

The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company.  The DOJ submitted a letter motion in limine on

Aside from liquidity, what do institutions bring to crypto? What precisely is their value added? This is an instructive question to ponder, because there is little consensus on what deeper institutional participation means for an industry that is riven with contradictions. The long-running wait for Bitcoin ETF approval, giving pensions and funds exposure to BTC,

The lawyer representing Sam Bankman-Fried, the former CEO of the now-defunct exchange FTX, has claimed that the proposed jury questions for the upcoming fraud trial might have the potential to elicit biased responses. In a court filing on September 29, lawyer Mark Cohen, representing Bankman-Fried, contends that the jury questions presented by the US government

Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm stated the SEC is attempting to use the allegations in its complaint to alter the law

The United States House of Representatives has rejected a bill passed on by the Senate aimed at funding the government, and Speaker Kevin McCarthy’s proposals have so far failed to gain traction with far-right lawmakers in the House — all actions suggesting that the U.S. government is heading toward at least a partial shutdown starting

European cryptocurrency investment firm CoinShares is optimistic about cryptocurrency regulation in the United States as the firm enters the new market. On Sept. 22, CoinShares officially announced the launch of its new division, CoinShares Hedge Fund Solutions, marking the first time the firm introduce its offerings to qualified U.S. investors. CoinShares’ entrance into the U.S. market

FTX founder Sam Bankman-Fried, once described as the “golden boy” of crypto, is set to stare down a jury next week for his role in the collapse of his $32 billion crypto exchange.  After a jury selection process on Oct. 3, the trial begins in earnest on Oct. 4, with Bankman-Fried staring down seven charges.

The United States securities regulator has delayed the decision on several spot Bitcoin exchange-traded fund (ETF) proposals, including BlackRock, ahead of an anticipated government shutdown.  Invesco, Bitwise and Valkyrie are the other three firms that were hit with delays by the Securities Exchange Commission in separate Sept. 28 filings. Bloomberg ETF analyst James Seyffart is also expecting

Former FTX CEO Sam Bankman-Fried (SBF) will remain in jail at least until the start of his Oct. 3 criminal trial following an order from a federal judge. In a Sept. 28 hearing in United States District Court for the Southern District of New York, Judge Lewis Kaplan denied a motion from SBF’s legal team

Crypto exchange Binance has urged users to convert their euros into Tether (USDT) before the end of October after losing the support of its banking partner. On Sept. 28, Binance urged European Paysafe users to convert their EUR balances in their Binance accounts to USDT before Oct. 31, noting that Paysafe has “unilaterally decided to

The United States Securities and Exchange Commission (SEC) has delayed reaching a decision on whether to approve or disapprove of spot Ether (ETH) exchange-traded fund applications from ARK 21Shares and VanEck. In separate notices filed Sept. 27, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed