Judge labels 2 obscure altcoins as commodities in $120M Ponzi case
An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities. Go to Source
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Binance exec trial will resume July 5 as family reports health problems
Though Nigeria’s tax authority dropped charges against two Binance executives in June, the pair will still face a trial for allegations of money laundering. Go to Source
Judge signs off on expedited schedule for Consensys suit against SEC
While Judge Reed O’Connor granted the SEC an extension to respond to Consensys’ lawsuit, he also approved a timeline for considering the case’s merits proposed by the firm. Go to Source
Roaring Kitty GME class action lawsuit dropped after 3 days
A GameStop investor who accused Roaring Kitty of committing securities fraud has voluntarily dropped the complaint “without prejudice” meaning he can file another similar lawsuit again in the future. Go to Source
SEC Asks Court to Quash Coinbase Subpoena in Legal Clash Over Crypto Regulations
The U.S. Securities and Exchange Commission (SEC) has asked the court to quash a subpoena issued by crypto exchange Coinbase that demands documents related to the crypto markets and personal communications of SEC Chair Gary Gensler. The SEC argues that the subpoena is irrelevant and imposes undue burden. SEC Seeks to Quash Coinbase Subpoena in … Read more
Ex-fintech CEO sentenced to 3.75 years over price manipulation scheme
A federal judge in Florida recognized the HYDRO token as an investment contract qualifying as a security under SEC guidelines. Go to Source
Ripple faces securities suit in California over CEO’s ‘misleading statement’
Judge Phyllis Hamilton found XRP could be a security when sold to retail and gave the go-ahead to a class-action lawsuit over statements from Ripple CEO Brad Garlinghouse. Go to Source
Judge in SEC v. Kraken case suggests he will deny motion to dismiss
In their motion to dismiss, Kraken’s lawyers disputed the legal theory that the exchange was an “ecosystem” for crypto asset securities. Go to Source
Crypto community backs Tornado Cash devs with $2.3M legal fund
Tornado Cash’s founders and developers are in the legal crosshairs, but the crypto community argues merely writing code shouldn’t be a crime. Go to Source
FTX victims go after company’s assets from criminal forfeiture
Though Sam Bankman-Fried is currently serving a prison sentence, affected FTX customers and creditors are making claims on the firm’s assets, which are still worth millions. Go to Source
