The US Securities and Exchange Commission (SEC) has recently raised concerns over the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan to repay creditors using stablecoins or other digital assets has sparked controversy, with the SEC reserving the right to challenge these transactions under federal securities laws. This move has added another
Agency
Congressman Wiley Nickel (D-NC) recently took a stand against the US Securities and Exchange Commission (SEC), accusing the agency of damaging trust in the regulatory system through its “regulation by enforcement” strategy. He labeled the SEC’s approach as an “abuse of power” that could impede digital innovation in the United States. Nickel’s comments come as
The U.S. Securities and Exchange Commission (SEC) recently brought charges against two brothers, Jonathan Adam and Tanner Adam, for allegedly running a $60 million Ponzi scheme. The complaint, filed in the United States District Court for the Northern District of Georgia in Atlanta, accused the brothers of defrauding over 80 individuals. The scheme involved falsely
German authorities recently seized nearly 250,000 euros and 13 crypto ATMs during a nationwide crackdown on unlicensed cryptocurrency machines. The operation, led by the Federal Financial Supervisory Authority (BaFin), aimed to strengthen regulatory oversight in Germany’s rapidly expanding crypto sector. On August 20, officials targeted 35 locations where crypto ATMs were allegedly operating without proper
A US federal judge has denied crypto exchange Kraken’s request to dismiss the lawsuit filed by the Securities and Exchange Commission (SEC) over allegations of operating an unregistered securities exchange, despite Kraken’s argument that the SEC’s allegations are unfounded. The decision comes after Kraken requested a dismissal of the case filed by the SEC in
Coinbase recently submitted a comment letter to the US Securities and Exchange Commission (SEC), where it highlighted significant flaws in the agency’s cost-benefit analysis of the proposed rule. The crypto exchange argued that the SEC has not adequately evaluated the rule’s economic impact on efficiency, competition, and capital formation. Despite recognizing a lack of crucial
Coinbase, one of the leading cryptocurrency exchanges, has recently submitted a comment letter to the US Securities and Exchange Commission (SEC) expressing strong opposition to the agency’s proposal to expand the definition of “exchange” to include decentralized exchanges (DEXs). The company, along with other industry players, has voiced concerns about the potential negative impact of
The Commodity Futures Trading Commission (CFTC) recently announced that they have awarded a crypto whistleblower with over $1 million. This whistleblower’s information led to an enforcement action regarding improper trading in digital asset markets. The CFTC has been prioritizing the identification of unlawful conduct in the digital asset marketplace, especially with the rise of scams
A recent bill presented in the Senate aims to enhance the investigative powers of the US Secret Service when it comes to probing crimes related to cryptocurrency. Senators Catherine Cortez Masto and Chuck Grassley are leading this bipartisan initiative to address the escalating threats posed by transnational cybercriminal activities. The bill specifically targets unlicensed money-transmitting
The world of cryptocurrency was shaken when Bitcoin was introduced a decade and a half ago. Since then, the identity of Satoshi Nakamoto, the creator of Bitcoin, has remained a mystery. Various theories and speculations have emerged, with different prominent figures being pointed to as the potential creator. One such theory emerged from software developer