In a recent filing by the Securities and Exchange Commission (SEC), shocking allegations have been made against the co-founders of the now-defunct Terra blockchain project. The SEC claims that the leaders of Terraform Labs, the company behind the project, planned to create fraudulent transactions during the development of the blockchain. This revelation has raised serious
Regulation
Crypto exchange Coinbase has announced that its international exchange has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to non-U.S. retail customers. This approval allows Coinbase to expand its services and tap into the lucrative derivatives market. Increased Access to Perpetual Futures Coinbase has launched an international exchange that enables
Ripple’s chief legal officer, Stuart Alderoty, has accused Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), of making misleading statements during his appearance before the Senate Committee on Financial Services. Alderoty claimed on his social media account that Gensler might assert the existence of a “crypto asset securities market” and wrongly
The U.S. Securities and Exchange Commission (SEC) has recently deferred its decision on the ARK 21Shares Bitcoin exchange-traded fund (ETF), causing further delay to the final verdict. This decision by the SEC has significant implications for the cryptocurrency market and the future of ETFs. On September 26, the SEC filed a deferral on the ARK
The U.S. Securities and Exchange Commission (SEC) has filed an objection to a part of the reorganization plan put forward by bankrupt cryptocurrency firm Celsius. The plan involves the employment of Coinbase, a prominent crypto exchange, as the distribution agent responsible for returning funds to former users affected by Celsius’ collapse. However, the SEC has
Hong Kong’s Securities and Futures Commission (SFC) is implementing new measures to strengthen investor education and enhance investor protection. The move comes in the wake of the JPEX debacle, which raised concerns about the city’s regulatory procedures and highlighted the need for stricter oversight in the virtual asset trading space. One of the key changes
The G20 summit has brought a glimmer of hope for India’s crypto ecosystem as it fully endorsed the IMF and FSB recommendations. These guidelines aim to provide a clear path for the policy and regulatory framework for crypto assets, addressing key concerns and promoting innovation. However, a critical aspect that needs attention is the excessive
Regulators in Poland have recently taken action against OpenAI, as the country’s Personal Data Protection Office announced on September 20th. The case involves a complaint lodged by an individual user regarding OpenAI’s popular ChatGPT app. The complainant raised concerns about the unlawful and unreliable handling of personal data by OpenAI, as well as a lack
Ripple (XRP) CEO, Brad Garlinghouse, continues his relentless efforts towards achieving regulatory clarity in the cryptocurrency industry. On September 19, Garlinghouse, alongside other top executives from Ripple, met with members of the U.S. Congress in Washington, D.C. The purpose of their visit was to engage with elected officials who are currently proposing bills related to
The Securities and Exchange Commission (SEC) has taken an active role in regulating the cryptocurrency industry, expressing concerns about its lack of regulation and viewing many cryptocurrencies as securities. This has led to increased scrutiny and enforcement actions against companies involved in initial coin offerings (ICOs) and a general chill in the U.S.-based crypto industry.