US prosecutors oppose Ethereum dev’s motion to reduce 5-year sentence
In April 2022, a judge sentenced Virgil Griffith to 63 months in prison for violating U.S. sanctions on North Korea. Go to Source
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SEC’s Crypto Enforcement Chief Departs After 9 Years
The head of the Crypto Asset and Cyber Unit at the U.S. Securities and Exchange Commission (SEC)’s Division of Enforcement has left the agency after nine years of service. Under his guidance, the SEC took many enforcement actions against crypto firms, including major crypto trading exchanges Binance and Coinbase. SEC’s Crypto Enforcement Unit Leader Departs … Read more
Crypto Super PAC spends $2M on attack ad targeting NY lawmaker
Democratic Representative Jamaal Bowman in New York’s 16th Congressional District has voted against three pro-crypto bills in the last 30 days. Go to Source
Crypto trading firm Cumberland secures New York BitLicense
The New York State Department of Financial Services lists 33 companies holding licenses, allowing them to offer crypto-related products and services. Go to Source
Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange
The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency platform, for operating without registration. Lbank, which ranks 56th in trading volume according to Coingecko, has been offering services to Japanese residents despite reportedly having an unknown address and representative. This action follows similar warnings issued by the FSA … Read more
Ripple Legal Chief Countered SEC Allegations: No Victims to Compensate
Ripple’s chief legal officer has countered the U.S. Securities and Exchange Commission (SEC)’s allegations following the crypto firm’s proposal to limit its penalty to no more than $10 million. The legal chief highlighted that the SEC is “raging” and emphasized that, unlike the Terraform Labs case, there are no victims to compensate in Ripple’s case. … Read more
SEC Chair Gary Gensler Envisions US Spot Ether ETFs Launching This Summer
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has indicated to lawmakers that he expects spot ethereum exchange-traded funds (ETFs) to launch this summer. The SEC is still working with fund issuers on their S-1 filings, which must be declared effective before the spot ether ETFs can launch. Gary Gensler Answers Crypto Questions The … Read more
SEC Now Demands $102.6 Million Penalty From Ripple in XRP Case
The U.S. Securities and Exchange Commission (SEC) is now pursuing a $102.6 million penalty from Ripple, a substantial reduction from the nearly $2 billion originally sought. Ripple recently proposed a $10 million penalty, citing the Terraform Labs settlement as justification. However, the SEC countered that such a low penalty “would not satisfy the purposes of … Read more
Bloomberg Analyst Now Expects Spot Ethereum ETFs to Launch on July 2
Bloomberg’s senior ETF analyst has updated his spot ethereum exchange-traded fund (ETF) prediction. “We are moving up our over/under date for the launch of spot ether ETF to July 2nd,” he said. This revision follows light comments from the SEC Staff on issuers’ S-1 filings. The analyst believes there is a decent chance the SEC … Read more
New York Recovers $50 Million From Gemini — Bans the Exchange From Crypto Lending in the State
New York Attorney General Letitia James has secured a $50 million settlement from cryptocurrency exchange Gemini for Earn program investors. This settlement ensures that all defrauded investors will fully recover the assets they invested but were unable to withdraw when the program collapsed. Additionally, Gemini is now banned from operating any crypto lending program in … Read more