The US Department of Justice is expected to announce a settlement deal with cryptocurrency exchange Binance today. The settlement comes after allegations of money laundering and sanctions violations. The press conference, to be held by US Attorney General Merrick Garland, will unveil separate cryptocurrency enforcement actions. It is reported that the settlement will include a […]
Jesse Powell, co-founder of cryptocurrency exchange Kraken, has criticized the Securities and Exchange Commission (SEC) for filing a lawsuit against his platform. Powell referred to the SEC and its chief, Gary Gensler, as “USA’s top decel,” implying that they hinder progress. He expressed dissatisfaction with the SEC’s actions, stating that Kraken had already paid $30 […]
US Senator Cynthia Lummis has criticized the United States Securities and Exchange Commission (SEC) for its regulatory approach towards Kraken, a San Francisco-based cryptocurrency exchange. The SEC recently filed a lawsuit against Kraken, accusing the exchange of operating an unregistered trading platform for cryptocurrency assets. The lawsuit alleges that Kraken mixed client assets with its […]
The US Department of Justice is seeking over $4 billion from Binance, the world’s largest cryptocurrency exchange, to settle a multi-year criminal investigation. The exchange and its CEO, Changpeng Zhao, are facing allegations of bank fraud, sanctions violations, and money laundering. The proposed settlement amount would be part of a potential agreement between Binance and […]
The Blockchain Association is once again supporting six plaintiffs in their legal battle against the U.S. Treasury Office of Foreign Assets Control (OFAC) over sanctions on Tornado Cash. In a recent amicus curiae brief, the blockchain advocacy group argued that OFAC’s decision to sanction the privacy-centric cryptocurrency mixer not only raised legal questions but also […]
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange Kraken, accusing the company of violating securities laws and commingling customer funds with corporate assets. The SEC claims that Kraken has been operating as an unregistered securities exchange, broker, dealer, and clearing agency since 2018. The lawsuit alleges that Kraken unlawfully […]
The Blockchain Association has expressed its support for six plaintiffs who are suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on Tornado Cash, a cryptocurrency mixer. In a recent amicus curiae brief, the crypto advocacy group argued that OFAC’s decision to sanction the privacy protocol was not only unlawful […]
The US Justice Department is reportedly seeking over $4 billion from cryptocurrency exchange Binance to settle a criminal investigation into alleged money laundering, bank fraud, and sanctions violations. Negotiations between federal prosecutors and Binance have included the possibility of criminal charges against the exchange’s founder and CEO, Changpeng Zhao. Despite residing in the United Arab […]
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has initiated a consultation period regarding the disclosure requirements for crypto-assets in federally regulated financial institutions. This consultation was anticipated in the 2023 federal budget and is closely linked to a similar inquiry by the Bank for International Settlements (BIS). The Canadian government aims to establish […]
Republican presidential candidate Vivek Ramaswamy has unveiled a crypto policy framework called “The Three Freedoms of Crypto.” Ramaswamy promises to focus on prosecuting bad actors rather than the code they use or the developers who write that code. He also pledges to provide regulatory clarity and exemptions from securities laws for new cryptocurrencies. Additionally, Ramaswamy […]
