Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao, also known as CZ, are facing a lawsuit filed by the US Securities and Exchange Commission (SEC) for their “blatant disregard of the federal securities laws”. The complaint, which includes 13 charges, accuses the exchange of operating an unregistered exchange and violating various US
Blockchain
Bitcoin (BTC) developers are in disagreement over the new “Ordinals” protocol, which has opened up a plethora of new applications for the cryptocurrency. While some celebrate the innovation, others believe it is clogging up the blockchain and causing problems for those using it as a peer-to-peer digital currency. Ali Sherief, a developer, has called for
Animoca Brands, a Hong Kong-based investor in blockchain gaming and Web3, has postponed its financial report since 2020. The company was spun out of Animoca in 2014 and was listed on the Australian Securities Exchange in 2015. Animoca Brands began rolling out massive game projects but struggled to publish its audited accounts in 2020. Reasons
Advocates of cryptocurrency have expressed their support for a new draft legislation that seeks to provide clarity on defining whether digital assets are securities or commodities. The proposed legislation, introduced by Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee, is aimed at regulating digital assets and establishing a framework
The US Commodity Futures Trading Commission (CFTC) is considering revisiting its regulatory oversight on risk management requirements for swap dealers and futures commission merchants. The agency has issued an advanced notice of proposed rulemaking that welcomes public comments on the matter. The CFTC Commissioner Christy Goldsmith Romero has highlighted the need for closer examination of
Denish Sahadevan, a 31-year-old social media influencer, has pleaded guilty to several criminal charges related to money laundering using cryptocurrency. The US Department of Justice (DoJ) recently released a statement accusing Sahadevan of fraudulently obtaining over $1.2 million in government relief loans. The influencer, better known as Danny Devan on social media, admitted to committing
The Washington DC-based Blockchain Association has filed an amicus brief in support of the crypto think tank Coin Center’s lawsuit against the US Treasury Department over its sanctions against Tornado Cash. The Treasury sanctioned the crypto mixer in August, claiming that it laundered more than $7 billion worth of virtual currency and effectively banning Americans
Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee have come together to draft legislation aimed at regulating digital assets. The legislation, called the Digital Asset Market Structure Discussion Draft, seeks to clarify when a digital asset would be considered a security and therefore regulated by the Securities and Exchange
A recent study commissioned by the European Parliament has suggested that all crypto assets should be considered as transferable securities by default. Proposed Exemption The study’s authors proposed that an intermediary associated with a crypto asset could receive an exemption from a national competent authority (NCA) to avoid being classified as a security. NCAs are
Atomic Wallet, a decentralized wallet with a considerable user base of over five million users, has allegedly been hacked. There are reports suggesting that the users’ funds have been compromised, with some victims losing their entire balance. The Incident On June 3, 2021, Atomic Wallet tweeted that it was investigating the incident. The tweet stated