Coinbase's Chief Legal Officer Paul Grewal voiced his concerns over the SEC’s regulation on the crypto industry after the agency claimed it will continue to use enforcement as a substitute for lawmaking.
Silvergate Bank, one of the leading banking partners for cryptocurrency firms, announced on Wednesday, March 8, that it plans to wind down its operations and voluntarily liquidate. Its wind-down and liquidation plan includes full repayment of all deposits
Binance is ready to pay monetary penalties to US regulators to make amends for past regulatory violations. The exchange claims it grew quickly and was unaware of the laws and regulations to prevent money laundering and corruption.
Coinbase is facing a $3.6 million fine for operating in the Netherlands without registration with DNB. The Dutch regulator increased the base fee due to the severity and degree of culpability of the non-compliance.
The court has authorized the issuance of subpoenas to 3AC co-founders. Liquidators now have permission to demand documents, communications, financial records, or any information related to the hedge fund since 2012.
James Bromley reported that a large portion of FTX’s assets remain unaccounted for. He claimed that FTX has begun adding measures to safeguard its clients’ assets under the leadership of John J. Ray III.
Binance is on the radar of the Singapore police for a possible breach of local payment services rules. The exchange has been accused of actively soliciting its Singapore users, regardless of not being licensed in the country.
The Bahamian Supreme Court has approved two insolvency experts from Pricewaterhouse Coopers (PwC) to act as joint provisional liquidators overseeing FTX assets. The Commission continues its investigation and is ready to help the police if needed.
The Bahamas Securities Commission has frozen FTX Digital Markets’ assets following allegations against the crypto exchange. As a result, FDM directors cannot make any transaction without the Commission’s approval.
Do Kwon, and Terra’s founding member, Nicholas Platias, are currently facing a new $57 million lawsuit filed by 359 aggrieved investors in Singapore. This is an addition to the numerous legal battles he is facing.
Lawmakers in the European Union have voted in favor of the Markets in Crypto Assets Regulation Bill (MiCA). This moves the bill ensuring stricter rules for crypto companies one step closer to becoming law.
South Korean Foreign Affairs Ministry ordered Do Kwon and five other Terra staff to return their Korean passports. They might face a passport freeze and new passport denial if they fail to comply within two weeks.
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