SEC’s Counterargument The SEC has filed a countermotion against Coinbase’s petition for new crypto regulations. The SEC argues that: Existing securities laws are sufficient to regulate crypto assets. The SEC has not expanded its authority over crypto assets. Enforcement actions against crypto-related businesses demonstrate the effectiveness of current laws. Coinbase’s Petition In July 2021, Coinbase…
The US Department of Justice (DOJ) has appointed Forensic Risk Alliance (FRA) as the independent compliance monitor for Binance for the next three years. This appointment is part of Binance’s plea deal with the DOJ in 2023. Why FRA Was Chosen Bloomberg reports that FRA was selected over Sullivan & Cromwell (S&C) due to S&C’s…
JPMorgan Chase is bracing for the possibility that its assets in Russia could be seized, according to a recent report. Legal Battles and Seizure Order A Russian court has ruled in favor of state-owned VTB Bank, ordering the seizure of JPMorgan’s accounts and other assets in Russia. The bank is facing a lawsuit in the…
Akash Network (AKT), a decentralized cloud computing coin, has jumped 44% since completing its “Mainnet 11” upgrade on May 2nd. It’s currently trading at $5.76, up from $4.00 before the upgrade. Key Features of the Upgrade The upgrade enhanced AKT management, tracking, and grant processes for deployments. It also supports decentralized finance (DeFi), machine learning,…
Accusations and Investigations The US Treasury Department is facing accusations of spying on Americans’ bank transactions in collaboration with financial institutions. A House Judiciary Committee memo alleges that the Treasury’s Financial Crimes Enforcement Network (FinCEN) requested banks to monitor customers’ transactions and flag certain keywords without legal authorization. Yellen’s Testimony Treasury Secretary Janet Yellen confirmed…
Kraken’s Arguments Kraken, a major cryptocurrency exchange, is disputing accusations by the U.S. Securities and Exchange Commission (SEC). The SEC claims that Kraken operated as an unregistered securities broker, dealer, and clearing agency. Kraken argues that the SEC’s definition of investment contracts is too broad and would give the agency excessive authority. The exchange’s lawyers…
Ethereum, the second-biggest cryptocurrency, has been on a wild ride lately. It’s been dipping below $3,000 and then bouncing back up. Bullish Signs New Investors: More people are opening Ethereum wallets, suggesting growing interest. Short-Term Spikes: Technical indicators hint at a possible short-term price increase. Bearish Signals Market Sentiment: Investors are still cautious about cryptocurrencies…
Life Behind Bars Sam Bankman-Fried, the former crypto kingpin, is now a prisoner in Brooklyn’s Metropolitan Detention Center. His life of luxury has been replaced by a prison dorm, where he shares a room with 35 other inmates. His diet consists mainly of rice and beans from the prison commissary, where bartering is as important…
The Shiba Inu community is buzzing after the team announced an exciting event. For the first time, community members will get to interact with the team behind the popular meme coin’s social media account. Unveiling the Story Behind Shiba Inu On May 9th, the Shiba Inu team will host an exclusive event where the anonymous…
Dogecoin has been moving sideways lately, with very little action. This low volatility is a sign of weak interest from traders, which could keep DOGE stuck in this range for a while. Stagnant Price Action Dogecoin is currently trading at $0.1430, down 5.22% in the past day. It has been bouncing between $0.172 and $0.12…
