SEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing Agency

SEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing AgencyAfter the report revealing that the cryptocurrency exchange Bittrex had received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), the securities regulator charged Bittrex and the company’s CEO on April 17 for “operating an unregistered exchange, broker, and clearing agency.” Following the Wells Notice, SEC Charges Bittrex for Violating Federal Laws On […]

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Biden Administration’s Economic Report Deems Crypto Assets ‘Mostly Speculative Investment Vehicles’

On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on their promises […]

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Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US

Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from USOn Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if […]

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Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects 'Anti-Crypto' Message Behind Signature Bank FailureBarney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong anti-crypto message.” Frank, who also serves as a Signature […]

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Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud

Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto FraudThe U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in […]

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Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregistered Offering of Earn Interest Product

The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the […]

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Coinbase and 17 Other Crypto Firms Launch ‘Travel Rule Universal Solution Technology’

Coinbase and 17 Other Crypto Firms Launch 'Travel Rule Universal Solution Technology'On Wednesday, the publicly-listed cryptocurrency firm Coinbase announced the launch of a collaborative effort called TRUST, which stands for “Travel Rule Universal Solution Technology.” The plan is described as an “industry-driven solution” developed to comply with the Financial Action Task Force (FATF) Travel Rule. There are currently 18 crypto firms that have joined TRUST so […]

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