Category: Fine
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Binance Holdings is set to pay $4.3 billion in fines following the approval of its plea agreement with prosecutors by U.S. District Judge Richard Jones on Friday. Beyond the financial settlement, a third party will oversee Binance’s operations for a duration of five years. Historic $4.3 Billion Binance Settlement Approved by Seattle Judge Binance, the […]
SEC revises $22M punishment against LBRY, seeks $111K instead
The SEC originally wanted LBRY to pay millions of dollars in penalties, but now concedes the defunct firm can’t pay up that amount.
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US Court Sentences Russian Crypto Ransom Launderer to Probation and Fine
A Russian crypto entrepreneur, charged with laundering money from ransomware attacks, has been sentenced to probation and fined in the U.S. after pleading guilty. Founder of two coin trading platforms, Denis Dubnikov, was arrested in the Netherlands and extradited to the U.S. last year. Oregon Court Sentences Russian for Processing Ryuk Payments A Russian national […]
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Dear Ripple, Don’t Settle: Embrace the Opportunity to Shape Crypto’s Future
As Ripple and the U.S. Securities and Exchange Commission (SEC) persist in their legal dispute over XRP’s classification as a security, the consequences for both parties and the wider cryptocurrency market cannot be understated. This case offers a unique opportunity to attain much-needed regulatory clarity, which could ultimately promote growth and stability throughout the sector. […]
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‘Unworkable’ bill to ban blockchain immutability is introduced in Illinois
Florida-based lawyer Drew Hinkes described the bill as “the most unworkable state law” related to blockchain and cryptocurrency that he has ever seen.
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Coinbase Fined €3.3 Million in Netherlands, Exchange Considers Appeal
The Dutch central bank has imposed a fine on crypto exchange Coinbase for providing services in the past without the necessary registration. The trading platform, which has until March to object to the measure, is currently considering an appeal against the move. Dutch Monetary Authority Fines Coinbase for Operating Without Registration De Nederlandsche Bank (DNB) […]
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Crypto Ads in Thailand Must Feature Clear Investment Warnings, New Regulations Require
Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims. Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand Thailand’s Securities and Exchange Commission (SEC) has […]
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‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss
The online retail broker blamed the economy for a decline in user numbers and net revenue that fell 44% year-on-year, although revenue from crypto rose moderately this quarter.
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Crypto Lender Blockfi Secures $250 Million Line of Credit From FTX, CEO Says Capital Will Bolster Its Balance Sheet
The crypto lender Blockfi detailed on Tuesday that the company secured a $250 million line of credit from FTX. Blockfi’s CEO Zac Prince announced on Twitter that the company will use the capital to bolster Blockfi’s “balance sheet and platform strength.” Blockfi Obtains $250 Million Revolving Credit Line From FTX After Crypto Lending Firms Struggle […]
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CFTC Fines Stablecoin Issuer Tether and Crypto Exchange Bitfinex $42.5 Million
On Friday, October 15, 2021, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had ordered the company Tether Holdings Limited and Ifinex Inc., the parent company of Bitfinex, to pay fines totaling $42.5 million. The CFTC accuses Tether of “making untrue or misleading statements and omissions of material fact in connection with the […]
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