Includes news and discussions about regulatory measures, legal challenges, and the legal environment affecting cryptocurrencies.
@DCGco and former Genesis CEO Michael Moro will pay $38.5M to settle SEC fraud charges related to misleading claims after Three Arrows Capital’s collapse. DCG faces a $30M fine, Moro $500K; both agreed to cease-and-desist orders. #Breaking #Legal (+9) ↗
Gary Gensler is set to announce his resignation as SEC Chair, with some officials planning to step down before Donald Trump’s inauguration, marking significant leadership changes within the U.S. Securities and Exchange Commission. #Breaking #Legal SEC (-8) ↘
@DCGco will pay $38 million to settle SEC charges over its bankrupt Genesis Global Capital lending unit, accused of misleading investors about its financial health following Three Arrows Capital’s collapse. Former CEO Soichiro Moro also settles for $500,000. #Breaking #Legal (-9) ↘
Crypto investors are optimistic as Donald Trump assumes office, expecting innovation-friendly regulations that could benefit the industry. However, it remains uncertain if crypto regulation will be prioritized in his first week. #Update #Crypto (+3) ↗
Blockchain developer Michael Lewellen has sued the U.S. Department of Justice, claiming its broad interpretation of money-transmission laws criminalizes non-custodial crypto development. The lawsuit, filed Thursday, seeks to protect his Ethereum-based platform Pharos from prosecution. #Breaking #Legal $ETH (-9) ↘
@Coinbase partners with money market Morpho to offer on-chain $USDC loans backed by $BTC, leveraging the Base blockchain for dynamic interest rates and flexible repayments. This move highlights DeFi’s role in Coinbase’s expansion strategy. #Update #Crypto $USDC (+3) ↗
The U.S. Securities and Exchange Commission’s General Counsel Megan Barbero will step down next week, joining other top officials in leaving the agency as President-elect Donald Trump prepares to take office. #Breaking #Legal @SECGov (-8) ↘
Spot $LTC ETFs could be next for U.S. SEC approval, signaling potential growth in the crypto ETF market. Christian’s insights at @NewsBTC highlight this development’s significance for investors navigating the evolving cryptocurrency landscape. #Update #Crypto $LTC (+3) ↗
@Upbit faces potential business suspension and fines due to anti-money laundering violations, with 700,000 KYC procedure failures identified by South Korea’s Financial Intelligence Unit. Upbit has until Jan. 20 to respond before sanctions are finalized. #Breaking #Legal (-9) ↘
Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim met with @cz_binance and UAE officials to explore crypto regulatory frameworks, aiming to modernize Malaysia’s financial system. Authorities will conduct comprehensive studies before implementation. #Update #Crypto (+3) ↗
A US law firm, Burwick Law, plans legal action against Solana-based meme coin launchpad @PumpFun due to alleged harmful promotional activities affecting investors. The firm cites significant financial losses and questionable platform practices. #Breaking #Legal #Crypto (-8) ↘
@JioPlatforms has partnered with Polygon Labs to introduce Web3 and blockchain services to its 450 million users, enhancing digital experiences in India. This collaboration marks a significant step for Web3 adoption in the region. #Update #Crypto $MATIC (+6) ↗
The @SECGov filed a brief appealing a court ruling that found $XRP was not a security when sold to retail investors, seeking to classify all XRP sales as unregistered securities offerings. #Breaking #Legal $XRP (-9) ↘
The incoming administration under President-elect Donald Trump plans to overhaul cryptocurrency regulations, with the Securities and Exchange Commission (SEC) set to reassess enforcement actions. The focus is on cases without fraud allegations, potentially freezing some lawsuits. #Breaking #Legal @SECGov (+8) ↗
