Wed, December 11

BitClave ICO Investors Receive $4.6M in SEC Settlement Distribution

The U.S. Securities and Exchange Commission (SEC) has disbursed $4.6 million to investors affected by BitClave’s 2017 unregistered initial coin offering (ICO). The payout follows a settlement reached in 2020, where BitClave agreed to repay the $25.5 million raised during its ICO, in addition to paying $4 million in penalties

November 21, 2024 2 mins read

Biden’s SEC Sued by 18 States for Overreach in Crypto Crackdown

Eighteen Republican-led states have filed a lawsuit against the Securities and Exchange Commission (SEC), accusing the agency of overstepping its authority in regulating the $3 trillion crypto industry. They argue that, as a result of the SEC’s enforcement tactics, their rights to manage economic policies are being infringed. Furthermore, the

November 15, 2024 2 mins read

SEC Seeks Dismissal of Kraken’s Key Defenses in Election Day Filing

The U.S. Securities and Exchange Commission (SEC) is seeking to dismiss critical defences raised by crypto exchange Kraken in an ongoing lawsuit. In a motion filed in the Northern District Court of California, the SEC argued Kraken had received sufficient notice of potential securities violations. The legal team, however, labelled

November 7, 2024 2 mins read

Binance and CZ Seeks Dismissal of SEC’s Amended Complaint

Binance and its former CEO, Changpeng “CZ” Zhao, have filed a motion to dismiss the SEC’s amended complaint against them. The motion, submitted on Nov. 4, accuses the SEC of failing to provide clear regulatory standards for the crypto industry. Binance’s legal team contends that the SEC’s approach contradicts a

November 5, 2024 2 mins read

Coinbase Files for Summary Judgment Against SEC Over Three-Year Delay

The leading crypto exchangeCoinbase is taking a bold step against the U.S. Securities and Exchange Commission (SEC) by filing for partial summary judgment in an ongoing legal battle. This move follows the SEC’s denial of Coinbase’s requests for information regarding its cryptocurrency classification, particularly concerning whether assets like Ethereum (ETH)

October 16, 2024 1 min read

Tezos Stakers Sue IRS in Federal Court Over Staking Tax Rewards

On October 10, 2024, Josh and Jessica Jarrett, Tezos network stakers, again filed a lawsuit against the IRS, challenging its taxation of block rewards from staking on the Tezos network. This case, now in federal court in Tennessee, asserts that tokens generated through staking should be classified as property. It

October 11, 2024 2 mins read

Trader Sues Advisors After Losing $415M Tesla Fortune

Christopher DeVocht, the investor who turned an $88,000 investment into $415 million through Tesla stock, is now suing his financial advisors after losing his entire fortune. Initially, DeVocht made huge gains by capitalizing on Tesla’s skyrocketing stock price. However, his luck changed when the market dipped, ultimately wiping out his

October 4, 2024 1 min read

Ripple Vows to Fight SEC Appeal Over XRP Sales Ruling

Ripple CEO Brad Garlinghouse has made it clear that Ripple will fight the U.S. Securities and Exchange Commission’s (SEC) appeal for as long as necessary. The SEC is appealing a court decision from July that ruled XRP’s programmatic sales were not securities. This ruling had been a partial win for

October 3, 2024 2 mins read

Green United Fails to Dismiss $18M Crypto Mining Fraud Lawsuit

U.S. federal judge Allen has denied Green United’s motion to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC), accusing the Utah-based company of running an $18 million crypto mining scam. The SEC alleges that Green United misled investors by selling fake cryptocurrency mining equipment and violating federal

September 24, 2024 2 mins read

OpenSea Faces Lawsuit Over Unregistered NFT Securities

A group of OpenSea users has filed a class-action lawsuit in Miami. The lawsuit claims that the popular NFT marketplace sold unregistered securities. This legal action raises significant concerns about the regulatory landscape for NFTs. According to the lawsuit, OpenSea is accused of facilitating transactions that qualify as securities sales.

September 23, 2024 1 min read