Crypto King Represents Himself in Fraud Trial
The trial for Aiden Pleterski, the ‘crypto king’ accused of defrauding investors of $30 million, begins Oct. 5 in Ontario; he will represent himself. #Update #Legal $BTC
Regulatory & Legal
Includes news and discussions about regulatory measures, legal challenges, and the legal environment affecting cryptocurrencies.
SEC Issues New Crypto Guidance Following CFTC
The US SEC updated its crypto asset policies, clarifying that certain transactions may not be considered investment contracts. This follows similar guidance from the CFTC. #Update #Crypto $BTC $ETH
US Charges Suspect in $53M Fraud Scheme
U.S. prosecutors charged Trung Nguyen Van with money laundering linked to a $53.28M “pig butchering” scheme targeting U.S. citizens, including a victim who lost $16M via a fraudulent platform. #Breaking #Legal $USDT
SEC Approves Crypto Token Buybacks
The SEC cleared token buybacks for crypto networks, impacting protocols like $AAVE and $LDO. Bitcoin ETFs saw a $2.39B inflow week. #Update #Crypto $AAVE
Bitcoin Firm Blockstream Faces $6.7M Lawsuit
River Financial sues Blockstream Services Canada ULC for $6.7M; Blockstream Corp clarifies separation since mid-2024 amid Liquid Network breach investigation. #Update #Legal
SEC: Token Buybacks Exclude Crypto Security
The SEC’s Division of Corporation Finance states that token buybacks on functional crypto networks don’t classify as securities under the Howey test, offering a regulatory loophole. #Update #Legal
SEC Pushes Zero-Knowledge Proofs for KYC
Outgoing SEC Commissioner Hester Peirce advocates replacing data-heavy surveillance with zero-knowledge proofs, urging regulatory sandboxes for testing. #Update #Crypto
SEC Loses Crypto Mom Peirce Oct 2
Hester Peirce resigns from the SEC to join academia, reducing pro-crypto leadership and leaving only two active commissioners. #Update #Crypto
Crypto Embraces Regulators Amidst SEC Pressure
The Senate’s failure to advance the Clarity Act shifts crypto rulemaking to regulators; SEC, CFTC, and Fed quickly propose new frameworks. #Update #Crypto
SEC Clarifies Crypto Promises Impact Securities
The SEC clarifies that crypto promises of work linked to profits may classify token sales as securities, affecting $BTC and others. #Update #Legal
SEC Commissioner Hester Peirce Resigns October 2
SEC Commissioner Hester Peirce, known as “Crypto Mom,” resigns effective Oct. 2, after eight years, to join Regent University as an associate professor. Her departure follows significant regulatory shifts under the current administration. #Update #Crypto
CFTC Sues Cash FX Over $950M Forex Scheme
The Commodity Futures Trading Commission (CFTC) is suing Cash FX Group and three individuals for allegedly running a $950 million Ponzi scheme linked to cryptocurrency, claiming misappropriation of funds and false promises of returns. #Breaking #Legal $USDT
SEC’s Hester Peirce Departs Crypto Advocacy
Hester Peirce, known as “Crypto Mom,” resigns from the SEC after advocating for clearer crypto regulations and the innovation exemption for tokenized securities. #Update #Crypto $BTC $ETH
SEC Sues Polymarket for Illegal Gambling
New York Attorney General Letitia James and Governor Kathy Hochul sue @PolymarketUS for alleged illegal gambling, seeking to halt operations and impose fines. #Breaking #Legal