SEC Counters Coinbase’s Petition For New Crypto Regulations

Categories
appeals court, Bitcoin, coinbase, rulemaking, SEC

The US Securities and Exchange Commission (SEC) has filed a countermotion against Coinbase’s rulemaking petition for the crypto industry. In a brief submitted on May 10, the US regulator argues against Coinbase’s request stating there is no need for creating a regulatory framework for crypto assets in place of existing US securities laws. Coinbase Rulemaking […]

BTC-E Co-Founder Enters Guilty Plea For $9 Billion Money Laundering Conspiracy

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BTC-e, Crypto News, DOJ, guilty plea, prisoner trade swap, vinnik

Co-founder of crypto exchange BTC-e, Alexander Vinnik, has pleaded guilty to charges of conspiracy to commit money laundering. In a public release by the US Department of Justice (DOJ) on May 3, the Russian national has admitted to his role as one of the operators of BTC-e, facilitating $9 billion worth of illicit transactions between […]

Investor Falls Victim To $68 Million Address Poisoning Scam

Categories
$71 million, Address Poisoning, Crypto Scam, CZ, Scammers, trader, wBTC

In a concerning turn of events, an anonymous crypto trader has lost approximately $71 million worth of assets in an address poisoning scam. This incident has roused much tension in the crypto ecosystem, underlining the need for improved safety measures. Trader Loses 1,155 WBTC To Address Poisoning Attack  According to multiple reports, an unknown trader […]

DOJ Counters Tornado Cash Developer’s Motion To Dismiss – Details

Categories
Crypto News, DOJ, Roman Semenov, Roman Storm, Tornado Cash

The US Department of Justice has released a rebuttal to Tornado Cash developer Roman Storm’s motion to dismiss the criminal charges levied against him by the government. In a filing submitted on Friday, the DOJ rebuffed several arguments made by the defendant’s lawyers while nudging the court to ensure the case undergoes a proper trial. […]

Phoenix Wallet To Disable Services In The US, Here’s Why

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Crypto regulation

Phoenix Wallet, a Bitcoin wallet provider for Lightning Network payments, has announced its impending removal from US application stores. This development comes as the wallet’s founding company, ACINQ, criticizes the regulation of self-custodial wallets in the US. Phoenix Wallet Terminates US Services Over Regulatory Discrimination On April 26, ACINQ, developers of Phoenix Wallet, expressed disappointment […]

Custodia To File Appeal Over Denied Access To Fed Master Account

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appellate court, Crypto regulation, Custodia, Federal Reserve, Federal Reserve Board of Governors, FRBKC, Kansas City Fed

Custodia Bank has officially expressed its desire to appeal the US District Court ruling in Wyoming, which supported the decision of the Federal Reserve Bank of Kansas City (FRBKC) to deny the crypto bank a master account. This move is part of Custodia’s continued efforts to secure direct access to the Kansas City Fed’s payment […]

Nigerian Court Adjourns Binance Tax Evasion Trial To May 17

Categories
Binance, FIRS, Money Laundering, Nigeria, Tax Evasion, Tigran Gambaryan

A Nigerian court has rescheduled the hearing of a tax evasion lawsuit against Binance and some of its executives to May 17. This adjournment represents the latest development in the ongoing regulatory saga between various agencies of the Nigerian government and the Malta-based cryptocurrency exchange. Related Reading: Impending Extradition? Nigerian Authorities Trace Fleeing Binance Exec […]

Coin Center Opposes “Unconsititutional” Stablecoin Bill

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Coin Center, Cynthia Lummis, Kirsten Gillibrand, Lummis-Gillibrand, Payment Stablecoin Act, Stablecoin, Tether USD

Pro-crypto organization Coin Center is pushing against a new legislative bill targeted at regulating stablecoin use and operations. In a public statement released on Friday, the US-based advocacy group heavily criticized the Lummis-Gillibrand Payment Stablecoin Act, describing it as “unconstitutional” and anti-innovation. Latest Stablecoin Bill Is Bad Policy: Coin Center On Wednesday, senators Kirsten Gillibrand […]

IRS Reveals Preliminary Tax Reporting Form For Digital Assets

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1099-9A, crypto community, Crypto regulation, IRS, tax form, tax form draft

The US Internal Revenue Service (IRS) has unveiled the early draft of a tax form for reporting income from cryptocurrency transactions. The newly released Form 1099-DA, tagged as “Digital Asset Proceeds from Broker Transactions,” is currently open to comments from relevant stakeholders in anticipation of its final version by the IRS. IRS Aims To Launch […]

Coinbase Launches Interlocutory Appeal In SEC Case – Details

Categories
coinbase, Interlocutory appeal, Paul Grewal, SEC, Securities

Coinbase is seeking an interlocutory appeal in its ongoing court case with the US Securities and Exchange Commission (SEC). This petition marks the latest development in a highly-monitored lawsuit stretching as far back as June 2023. In a motion submitted on April 12, the American exchange is aiming for a constitutional clarification of a specific […]

Australian Prosecutors Dismiss Andrew Forrest’s Lawsuit Against Meta Over Crypto Scam Ads

Categories
Andrew Forrest, Australian prosecutors, Crypto Scam, Facebook, META

Australian prosecutors have reportedly dropped Andrew Forrest’s lawsuit against technology giant Meta over the appearance of crypto scam advertisements with his face on Facebook. This development comes as a blow to the Australian billionaire, who is hell-bent on ensuring Meta is held responsible for allegedly allowing bad actors to promote crypto scams using his image. […]

Tornado Cash Legal Saga: Pro-Crypto Groups Support Roman Storm With Amicus Briefs

Categories
Amicus Brief, Blockchain Association, Coin Center, Crypto News, Roman Semenov, Roman Storm, Tornado Cash

In a rapidly developing case, three cryptocurrency advocacy groups have filed amicus briefs in support of Tornado Cash developer Roman Storm, who has been indicted for his role in the creation and operation of the prominent crypto mixer platform. Storm, who has since been apprehended by US authorities, had earlier filed for a motion to […]