Tag Archives: US crypto regulation

Coinbase Vs. State Regulators: Crypto Exchange Fights Legal Fragmentation

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US-based crypto exchange Coinbase has made a significant appeal to the Department of Justice (DOJ) regarding a wave of lawsuits aimed at its operations. The company is urging federal action to address what it describes as an “increasingly fragmented and hostile” regulatory landscape for the crypto market. Coinbase Urges Federal Action  In a recent letter,… Continue reading Coinbase Vs. State Regulators: Crypto Exchange Fights Legal Fragmentation→

Citigroup CEO Confirms Interest In Issuing A Proprietary Stablecoin—Reuters

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American multinational investment bank Citigroup announced plans to potentially issue its stablecoin, as CEO Jane Fraser revealed during a post-earnings conference call.  As first reported by Reuters, Fraser emphasized the bank’s focus on both the stablecoin initiative and the growing tokenized deposit sector, stating, “This is a good opportunity for us.” As the third-largest lender… Continue reading Citigroup CEO Confirms Interest In Issuing A Proprietary Stablecoin—Reuters→

‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

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In a major blow for the crypto industry, several bills championed by President Donald Trump failed to pass a crucial procedural vote in the House of Representatives on Tuesday.  According to CNBC, the final tally stood at 196-223, with 13 Republican representatives siding with Democrats to block the motion, marking a rare moment of dissent… Continue reading ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts→

Coinbase Confirms DOJ Investigation Following Major Security Incident

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The US Department of Justice (DOJ) has initiated an investigation into a significant security breach at Coinbase, the largest US-based cryptocurrency exchange.  According to sources familiar with the matter cited by Bloomberg, the DOJ’s criminal division in Washington is examining the circumstances surrounding the breach, which has raised serious concerns about cybersecurity within the crypto… Continue reading Coinbase Confirms DOJ Investigation Following Major Security Incident→

Crypto Exchange Garantex Co-Founder Arrested In India Over Extradition Request

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Authorities in India have apprehended Aleksej Besciokov, the alleged co-founder of Garantex, a cryptocurrency exchange reportedly implicated in “extensive money laundering activities (MLA).”  $60 Billion In Transactions Linked To Criminal Activity Besciokov, a 46-year-old Lithuanian national, was reportedly arrested while vacationing with his family in Varkala, a coastal city in the Indian state of Kerala.… Continue reading Crypto Exchange Garantex Co-Founder Arrested In India Over Extradition Request→

Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

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In a recent statement, the US Securities and Exchange Commission (SEC) provided insights into the classification of memecoins within the context of federal securities laws.  This move, a part of the SEC’s attempt to make clear how these regulations apply to different assets, could prove to be a significant victory for these altcoins and the… Continue reading Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities→

BREAKING: BitMEX Fined $100 Million For US Money-Laundering Violations

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Federal judge John G. Koeltl has directed BitMEX to pay a $100 million fine, representing the latest development in an ongoing legal dispute regarding money laundering infractions in the US. BitMEX Faces Major Legal Setback The legal challenges for BitMEX stem from activities between 2015 and 2020, during which the exchange reportedly failed to adhere… Continue reading BREAKING: BitMEX Fined $100 Million For US Money-Laundering Violations→