Aurelien Michel, the developer behind the controversial Mutant Ape Planet NFT collection, has been sentenced to a month of incarceration and ordered to forfeit $1.4 million in fraud-related penalties. The decision, handed down by U.S. District Judge Margo Brodie, comes as part of a case involving Michel’s alleged scheme that
Gary Gensler, Chairman of Securities and Exchange Commission (SEC) says that all crypto-related assets should comply with SEC Securities law. He believes that most of the tokens and initial coin offerings (ICOs) violate US security laws. In the Aspen Security Forum on August 3, Gensler discussed the crypto’s intersection with
This is the fifth state in a month to scrutinize BlockFi as the firm violates the state security laws. Five states have issued cease-and-desist and show-case orders to BlockFi, which are New Jersey, Alabama, Texas, Vermont and now Kentucky joins the list. The Kentucky Department of Financial Institutions has restricted
Misiones, the first province of Argentina to impose the financial innovative law that uses Blockchain and Cryptocurrency. This recently approved law, the Missionary Financial Financial Innovation Programs is making Misiones to issue its own Stablecoin. The plan to issue a stablecoin is an economic plan to implement the blockchain and
A gathering of Paraguayan officials introduced a ‘Bitcoin bill’ in the National Congress the previous week. However, it ended up being an altogether different proposition than what crypto adherents anticipated. The bill looks to control and manage digital currency transactions and set up taxes. There is no notice of pronouncing
The American CryptoFed is recognized as the legal entity. The crypto-friendly state Wyoming accepts DAO. The Ducat, the DAO’s native stable token, enables fee-free transactions. The crypto-friendly state Wyoming is the first state to accept DAO in the United States. The Wyoming Secretary of State’s have recognized and issued a
The detectives of the UK have seized over £114 in crypto. The criminals are demanded to validate their money. Scotland Yard also seized large cash in May. While investigating a money laundering case, British detectives seized approximately £114 in cryptocurrency. A suspicious amount of digital assets was discovered in a
UK regulatory warns 111 crypto firms for not registering with FCA. Millions of UK adults are holding crypto now. FCA also established the “Temporary Registration Regime” earlier. The Financial Conduct Authority (FCA) of the United Kingdom, which is in charge of regulating the crypto industry in terms of anti-money laundering
Problems in the process of registering crypto firms. 77 new crypto firms submitted applications that are yet to review. FCA established a “Temporary Registration Regime”. Crypto firms are struggling to meet the Financial Conduct Authority’s anti-money laundering standards in the United Kingdom. The FCA had only registered five crypto businesses
