Category
New York Attorney General Letitia James is proposing new legislation that would give her office more authority to regulate the increasingly tumultuous cryptocurrency industry, The Wall Street Journal reported. The bill would give the attorney general’s office broader enforcement authority over crypto firms that have operations in the state, while codifying the New York State Department of Financial Services’ authority
Australia’s financial regulator has cancelled the local financial services license of the world’s biggest cryptocurrency exchange, Binance, The Guardian reported. Earlier this year, the Australian Securities and Investments Commission (Asic) found Binance had incorrectly classified hundreds of retail customers as wholesale investors. The Asic chair, Joe Longo, said the distinction was important because retail customers have access to more consumer
The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law, CNBC reported. According to CNBC, Coinbase shares fell nearly 12% in extended trading after the news broke on Wednesday, adding to an 8.16% drop during regular trading hours. “Based on discussions with the Staff, the Company
Uber Technologies Inc., Lyft Inc. and other companies scored a victory with a California court ruling that preserves their independent contractor model in the state and could boost their efforts to maintain that model elsewhere, The Wall Street Journal reported. A state appeals court reversed a lower-court ruling that found a California ballot measure known as Proposition 22 illegal. Proposition
New York Attorney General Letitia James sues KuCoin for allowing investors in New York to buy and sell Crypto without registering with the state. This lawsuit marks James’ eight action to rein in shadowy cryptocurrency platforms. From the press release: New York Attorney General Letitia James continued her efforts to crack down on unregistered cryptocurrency platforms by filing a lawsuit
The Electronic Frontier Foundation (EFF) posted information titled: “Section 230 is On Trial. Here’s What You Need to Know”. The EFF wrote about two court cases that involve Section 230. According to EFF, the Supreme Court next week will hear two cases - Gonzalez v. Google on Tuesday, Feb. 21, and Twitter v. Taamneh on Wednesday, Feb. 22 - that
The U.S. Securities And Exchange Commission (SEC) posted a press release titled: “SEC Charges Terraform and CEO Do Kwan with Defrauding Investors in Crypto Schemes”. From the press release (which was posted on February 16, 2023): The Securities and Exchange Commission today charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion dollar crypto asset securities