Includes news and discussions about regulatory measures, legal challenges, and the legal environment affecting cryptocurrencies.
Rep. Patrick McHenry urges a veto overturn of President Biden’s decision on SEC’s SAB 121 during a debate on H. J. Res. 109. The resolution impacts digital asset custody regulations and had bipartisan support. McHenry criticizes the SEC’s overreach and calls for policy revisions. #FinanceNews
Federal Reserve Chair Jerome Powell supports the bipartisan Lummis-Gillibrand Payment Stablecoin Act, aiming to regulate US dollar-linked stablecoins by year-end. The bill seeks to enhance transaction stability and security, despite concerns from Coin Center about innovation impacts. #CryptoRegulation
CFTC Chair Rostin Behnam testified that an Illinois court recognized $BTC and $ETH as commodities and contended that 70-80% of tokens are non-securities, opposing SEC Chair Gary Gensler’s view. He urged Congress to swiftly legislate for better investor protection in the digital asset market. #CryptoRegulation
Investors sue @BitwiseInvest for $2M over alleged securities fraud in the Bitwise 10 Crypto Index Fund. Claims include a pump-and-dump scheme and misleading info about buyback options. The Mukamal family reportedly lost $2M. Bitwise denies the charges. #Crypto #Update
Nigeria’s Finance Minister Wale Edun urges @SECNigeria to regulate the crypto market amid AI and virtual asset growth. Risks of misinformation from crypto firms about licensing highlighted. Nigeria leads in Bitcoin interest, stressing the need for clear regulations. #CryptoRegulation
Bitwise CCO Katherine Dowling: Spot Ethereum ETFs are “close to the finish line,” with the SEC showing openness to new products. Recent amendments signal imminent launch. #Ethereum #CryptoETFs
Parties in the Ripple lawsuit filed motions to seal exhibits following a favorable order for Brad Garlinghouse, Ripple Labs, and XRP II. Judge Hamilton set deadlines for motions and hearings in July. Meanwhile, whales are accumulating $XRP ahead of the final judgment on penalties. #Update
Ryan Selkis, CEO of @MessariCrypto, accuses the SEC of corruption and pledges to stop cooperation, claiming it fails to protect citizens and regulate crypto. He believes investigative journalism is more effective than litigation. #CryptoNews
.@MessariCrypto founder Ryan Selkis declares “operational war” on the SEC, calling Chair Gary Gensler corrupt. Selkis’s “Declaration of Independence from the SEC” challenges its authority, aiming to reshape U.S. crypto regulations through courts, Congress, and media. #CryptoNews
A Woori Bank employee in Gimhae, South Korea, was arrested for embezzling $15M by falsifying loan documents and investing in cryptocurrencies. Authorities have frozen $3.2M in assets. South Korea boosts crypto market oversight from July 19. #Fraud #Update
Ripple’s XRP sees whale movement of 37.39M tokens to Bitstamp before Ripple vs. SEC case conclusion. Fred Rispoli predicts case end by July 13 or 31. XRP faces resistance at $0.4250, struggling below 100-hourly SMA. Regulatory clarity crucial for crypto’s future. #XRP #CryptoNews
Former Northern Data execs Joshua Porter & Gulsun Kama sue for securities fraud & tax evasion, alleging retaliation for whistleblowing. They claim Northern Data misled investors & dodged taxes. This lawsuit could impact the $16B IPO plans. #Update #CryptoNews
Helium Mobile, founded by Amir Haleem, Shawn Fanning, and Sean Carey, uses blockchain-based hotspots to expand wireless services globally. Their $20/month 5G plan and partnerships with Google and Solana are driving growth. #Update #WirelessTech
Craig Wright, who claims to be Bitcoin’s creator, faces a Worldwide Freezing Order from the UK High Court. Justice Mellor issued the order to prevent Wright from moving assets to avoid paying $1.97M in legal costs to Peter McCormack after a defamation case. #CryptoNews
