Crypto lender Genesis Global, has agreed to a final judgment imposing a $21 million civil penalty and a permanent injunction as part of a settlement with the US Securities and Exchange Commission (SEC). The settlement resolves charges against Genesis related to the unregistered offer and sale of “securities” through its crypto asset lending program, the […]
The US Securities and Exchange Commission (SEC) has taken legal action against 17 individuals allegedly involved in a Crypto Ponzi scheme that defrauded more than 40,000 victims and amassed $300 million. As per the SEC’s press release, Houston-based CryptoFX LLC operated the scheme, primarily targeting Latino investors in the United States and two other countries. […]
Adam Colin Todd, the CEO of Digitex Futures Exchange (DGTX), is facing federal charges for alleged compliance failures, including violating the Bank Secrecy Act, according to an announcement by the US Department of Justice (DOJ). The charges stem from Todd’s purported failure to establish and implement an anti-money laundering (AML) program at Digitex Futures. The […]
In a notable shift, the Epic Games Store has updated its policies to permit the inclusion of blockchain-based games on its platform. This move marks a departure from its previous stance and sets Epic Games apart from other digital distribution platforms. However, the implementation of this new policy has raised concerns surrounding content guidelines and […]
US Securities and Exchange Commission (SEC) lawyers have issued an apology to a judge for misrepresenting facts in a case involving a crypto firm. The SEC lawyers expressed deep regret and acknowledged their errors in securing a restraining order and asset freeze against Digital Licensing Inc., also known as DEBT Box. Regret And Corrective Actions […]
Singapore-based crypto lender Hodlnaut is on the verge of liquidation, according to court filings on November 10. The company, which also operates in Hong Kong, had previously halted withdrawals and sought protection from creditors. However, efforts to save the lender were unsuccessful, leading to the decision to liquidate the company. Hodlnaut Liquidators To Consolidate Creditor […]
According to a Forbes report, Brian Krewson, an Oracle technical, has come under scrutiny after being accused by the US Department of Justice (DOJ) of assisting in the alleged storage and laundering of $54 million worth of cryptocurrency for two convicted drug traffickers. The allegations draw parallels to Krewson’s resemblance to Walter White, the infamous […]
In a recent interview with Yahoo Finance, Senator Cynthia Lummis expressed her disapproval of the Securities and Exchange Commission’s (SEC) intensified crackdown on the crypto industry throughout 2023. Urgency For Crypto Regulation In the interview, Senator Lummis criticized the aggressive nature of the SEC’s actions, deeming it unnecessary and overreaching. Specifically, Lummis opposed one of […]