SafeMoon and its executives, including CEO John Karony, have been charged by the SEC and DOJ in an alleged $200 million fraud scheme. The SEC claims that SafeMoon sold its cryptocurrency, SFM, through a fraudulent scheme and described SFM as a security asset. The SEC also alleges that SafeMoon misled users about the safety of […]
Turkey is taking steps to tighten its regulation on crypto-assets in order to combat money laundering and terrorist financing. The country’s Finance Minister, Mehmet Simsek, announced that the new legislation is aimed at persuading the Financial Action Task Force (FATF) to remove Turkey from its “grey list” status. Being on the grey list means that […]
Coinbase, a leading cryptocurrency exchange in the US, has announced that it will offer regulated crypto futures to its customers. This move comes despite an ongoing legal battle with the Securities and Exchange Commission (SEC). The new development will allow advanced users to trade futures contracts for Bitcoin and Ethereum. Futures trading enables investors to […]
The United States Securities and Exchange Commission (SEC) has charged SafeMoon and three of its executives with fraud and unregistered securities sales related to its SafeMoon token. The SEC alleges that Kyle Nagy, the creator of SafeMoon, along with CEO John Karony and chief technology officer Thomas Smith, withdrew $200 million from the project and […]
In a significant development, the founders of SafeMoon, a decentralized finance digital asset, are facing criminal charges in the United States. Braden John Karony and Thomas Smith have been arrested, while Kyle Nagy remains at large. The US Attorney’s Office for the Eastern District of New York has charged them with conspiracy to commit wire […]
Turkey is taking steps to strengthen its regulation of cryptocurrencies in order to combat money laundering and terrorism financing. The country’s finance minister, Mehmet Simsek, announced that new legislation is being prepared to provide clear regulation for crypto-assets. This move is aimed at improving Turkey’s standing in terms of money laundering and terrorist financing, with […]
Amir Bruno Elmaani, the founder of Oyster Protocol, has been sentenced to four years in prison for tax evasion. Elmaani, also known as Bruno Block, pleaded guilty to the charges in April. He was accused of offering unregistered initial coin offerings (ICOs), self-minting tokens, and engaging in a pump-and-dump scheme. The US Securities and Exchange […]
The US Securities and Exchange Commission (SEC) is facing criticism and allegations of corruption in its battle against the US crypto industry. The US Government Accountability Office (US GAO) conducted an assessment of Staff Accounting Bulletin No. 121 (SAB 121), an anti-crypto accounting bulletin issued by the SEC, and found that the SEC did not […]
The United States Commodity Futures Trading Commission (CFTC) has reported that the majority of whistleblower tips it received this year were related to the cryptocurrency industry. CFTC Commissioner Christy Goldsmith Romero described the crypto industry as being plagued by “pervasive fraud and other illegality.” The agency received a total of 1,530 tips and paid out […]
Turkey is taking steps to regulate crypto-assets in order to be removed from the Financial Action Task Force’s (FATF) “gray list” of countries that have not done enough to combat money laundering and terrorist financing. The FATF placed Turkey on this list in 2021, citing deficiencies in their procedures for freezing assets associated with terrorism […]
