Regulatory Developments 125 | MachinaTrader.com

North American Securities Regulators Support SEC in Lawsuit Against Coinbase, Argue Digital Assets Should Not Receive Special Treatment

The North American Securities Administrators Association (NASAA) has argued that digital assets should not be treated as special and should be subject to securities laws, supporting the United States Securities and Exchange Commission (SEC) in its lawsuit against Coinbase. The SEC sued Coinbase in June, accusing the crypto exchange of violating federal securities laws. Coinbase […]

Parliamentary Committee Urges UK Government to Protect Artists from NFT Copyright Infringement and Ban Sporting Groups’ Digital Assets

A bipartisan parliamentary committee in the UK has called on the government to protect creators from copyright infringement related to nonfungible tokens (NFTs) and address potential risks associated with sporting groups issuing digital assets. The committee highlighted the ease and speed at which NFTs can be minted, compared to the slow process for artists to […]

Bitfinex Parent Company Proposes $150 Million Share Buyback Amidst Regulatory Scrutiny

Hong Kong-based iFinex Inc., the parent company of cryptocurrency exchange Bitfinex, has proposed a $150 million share buyback in an effort to consolidate its private operations amidst increasing regulatory oversight in the cryptocurrency industry. The buyback offer, which remains open until October 24, aims to repurchase 15 million shares at $10 each, representing approximately 9% […]

Brazilian Congressional Committee Recommends Indictment of Binance CEO and Executives in Financial Pyramid Scheme Probe

A Brazilian congressional committee has recommended the indictment of Binance CEO Changpeng Zhao and three other executives following an investigation into financial pyramid schemes in Brazil. The committee’s 500-page report accuses Zhao and the executives of fraudulent management practices, operating without sufficient authorization, and offering securities trading without authorization. The report claims that Binance and […]

North American Securities Regulators Support SEC in Lawsuit Against Coinbase

The North American Securities Administrators Association (NASAA) has filed a brief in support of the Securities and Exchange Commission (SEC) in its lawsuit against cryptocurrency exchange Coinbase. NASAA, a non-profit association representing securities regulators in the US, Canada, and Mexico, argues that the SEC’s position that certain crypto assets on Coinbase are securities and subject […]

Alameda Research CEO Reveals Fraudulent Activities in SBF Trial: Key Insights Uncovered

Alameda Research CEO Caroline Ellison’s testimony in the SBF trial has revealed shocking details about fraud and mismanagement within the company. Ellison admitted to committing fraud under the direction of Sam Bankman-Fried (SBF), the founder of FTX. She disclosed that SBF instructed her to divert billions of dollars from FTX customer funds to Alameda for […]

Binance CEO and Executives Face Possible Indictments in Brazil for Fraud and Securities Violations

A Brazilian congressional committee has recommended the indictment of Binance CEO Changpeng Zhao and three other executives for fraud and securities violations. The decision to press charges now rests with the Brazilian police. The committee alleges that Zhao and the executives engaged in fraudulent management, unauthorized trading of securities, and operating a financial institution without […]

Israeli Authorities Freeze Cryptocurrency Accounts Linked to Hamas in Collaboration with Binance

Israeli authorities have collaborated with cryptocurrency exchange Binance to freeze several cryptocurrency accounts allegedly linked to the Palestinian militant group Hamas. This action is part of a global trend towards monitoring and regulating digital currencies to prevent their misuse for illicit activities. Hamas has been using cryptocurrencies to finance its activities as traditional financial channels […]

Crypto Crisis Deepens as Financial Woes and Leadership Changes Rock Industry

In the rapidly changing world of cryptocurrency, recent events have caused a major upheaval in the industry, leading to what can only be described as a “crypto crisis.” This crisis is characterized by financial difficulties at major companies and significant leadership changes that are raising concerns about the stability and future of the digital currency […]

SEC Argues Digital Assets Have No Inherent Value in Court Motion Against Coinbase

The U.S. Securities and Exchange Commission (SEC) has argued in a court motion against Coinbase, the top US crypto exchange, that digital assets have no inherent value. The SEC claims that unlike tangible assets such as real estate, digital tokens cannot generate profits on their own and rely on an ecosystem to drive demand. The […]