Crypto Regulation News

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Canadian regulator hits Binance with a $4.4M fine

Crypto regulation
May 10, 2024
Crypto exchange Binance has been slapped with a hefty fine of $4.4M by Canadian regulatory agency, FINTRAC.

Australian authorities seek data from crypto exchanges to curb tax evasion

Crypto regulation
May 8, 2024
In a bid to combat tax evasion, Australia’s Tax Office has demanded personal data and transaction details from crypto exchanges.

Binance CEO urges Nigeria to release detained executive

Crypto regulation
May 7, 2024
Richard Teng, the CEO of Binance, has made a public plea to the Nigerian government, calling for the release of Tigran Gambaryan, head of the crypto exchange's Financial Crime Compliance team. 

Ripple opposes the SEC's plea for a $1.95B fine

Crypto regulation
April 23, 2024
In a recent court filing, Ripple requested the court to reject the SEC's plea on charging a $1.95B fine from the firm.

Uniswap responds to SEC’s Wells notice

Crypto regulation
April 11, 2024
Uniswap revealed that the SEC issued a Wells notice to the firm, citing that the regulatory body warns of potential enforcement action against the crypto exchange.

SEC sues Kraken for operating unregistered platform

Crypto regulation
November 21, 2023
The US Securities and Exchange Commission has filed a lawsuit against Kraken, accusing the company of operating an unregistered exchange.

The Evolution of Crypto Regulations: An International Perspective

Crypto regulation
July 31, 2023
Different countries have come up with crypto regulatory rules that investors must follow to help stay on the good side of the law.

Crypto.com receives registration approval from Dutch Central Bank

Crypto regulation
July 28, 2023
Crypto.com secured registration approval from De Nederlandsche Bank (DNB) weeks after Binance exited the Netherlands after failing to register with the regulators.

Binance seeks to file motion to dismiss CFTC charges

Crypto regulation
July 25, 2023
Binance and its CEO Changpeng Zhao intend to file a motion with the court to dismiss the CFTC’s complaint. 

Court orders Kraken to submit user details to IRS

Crypto regulation
July 1, 2023
The court ordered Kraken to turn over the personal information of certain users to the Internal Revenue Service.

Coinbase claims SEC has no authority over the exchange’s crypto tokens

Crypto regulation
June 29, 2023
Coinbase slammed the SEC’s lawsuit by claiming that the regulatory agency holds no jurisdiction over the cryptocurrencies on its exchange.

SEC sues Coinbase for offering unregistered securities

Crypto regulation
June 6, 2023
Less than a day after suing Binance, the SEC cracked down on Coinbase for selling unregistered securities to US clients.

SEC files lawsuit against Binance over alleged securities violations

Crypto regulation
June 5, 2023
The US Securities and Exchange Commission sued Binance and its CEO Changpeng Zhao over the sale of unregistered securities.

Coinbase reacts as SEC requests court to dismiss rulemaking petition

Crypto regulation
May 16, 2023
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.

Brad Garlinghouse claims SEC lawsuit will cost Ripple $200M

Crypto regulation
May 8, 2023
Ripple CEO Brad Garlinghouse estimated that the firm will have spent $200M in its ongoing lawsuit against the SEC by the time the court decides on a verdict.

Coinbase requests court to compel SEC to provide regulatory clarity

Crypto regulation
April 25, 2023
Coinbase asked the US Court of Appeals for the Third Circuit to urge the SEC to respond to its rulemaking petition weeks after receiving a Wells notice from the regulatory agency.

Coinbase may move out of the US if crypto regulations remain unclear

Crypto regulation
April 18, 2023
In a recent discussion during Fintech Week, Coinbase CEO Brian Armstrong claimed that the firm may relocate out of the US if the authorities do not provide clarity on crypto regulations.

ASIC revokes Binance Australia’s financial services license

Crypto regulation
April 6, 2023
The Australian Securities and Investments Commission (ASIC) revoked Binance Australia’s financial services license following a targeted review of the exchange’s operations.

Dubai regulators seek information on Binance’s governance process

Crypto regulation
April 5, 2023
Dubai’s Virtual Assets Regulatory Authority asked Binance to disclose details about its board procedures as the regulators tighten the application process for the operational license.

US law firms file $1B lawsuit against Binance

Crypto regulation
April 2, 2023
Boies Schiller Flexner and Moskowitz Law Firm sued Binance, its CEO Changpeng Zhao, and three crypto influencers for unlawful promotion of unregistered securities.

CFTC sues Binance for violating federal laws

Crypto regulation
March 27, 2023
The Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its CEO, Changpeng Zhao, over alleged violations of federal laws.

Coinbase responds to SEC’s Wells notice

Crypto regulation
March 23, 2023
Coinbase's CEO and CLO responded to the SEC's threats of potential enforcement action against the exchange for alleged violation of the securities law.

SEC charges TRON founder for securities law violations

Crypto regulation
March 23, 2023
The US Securities and Exchange Commission charged TRON founder Justin Sun and three of his firms for selling unregistered crypto tokens.

SEC Chair claims Proof-of-Stake tokens qualify as securities

Crypto regulation
March 16, 2023
SEC Chairman Gary Gensler reiterated that Proof-of-Stake tokens qualify as securities under the current laws.

CFTC Chair asserts Ethereum and Stablecoins are commodities

Crypto regulation
March 9, 2023
CFTC Chair Rostin Behnam said Ethereum and stablecoins are commodities during Wednesday's Senate Agricultural court hearing.

Silvergate Bank to Shut Down Operations and Liquidate

Crypto regulation
March 9, 2023
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

IMF Endorses Crypto Regulation

Crypto regulation
March 2, 2023
The IMF endorses crypto regulation but cautions that outright ban isn't off the table.

US regulators oppose Binance.US’ $1.022B Voyager acquisition deal

Crypto regulation
February 23, 2023
The US SEC, the NYDFS, and Attorney General Letitia James filed objections to Binance.US’ $1.022B bid for acquiring Voyager Digital.

Judge authorizes Celsius to sell Bitmain mining coupons worth $7.4M

Crypto regulation
February 16, 2023
Judge Martin Glenn has authorized Celsius to sell $7.4M worth of coupons for Bitmain, a crypto mining firm. The coupons, which cost Celsius $37M, provide a 10-30% discount on Bitmain’s mining rigs.

Binance is prepared to pay penalties for past conduct

Crypto regulation
February 16, 2023
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.

Judge denies motion to appoint independent examiner for FTX

Crypto regulation
February 15, 2023
Judge John Dorsey denied US Trustee Andrew Vara’s motion to appoint an independent examiner to investigate FTX’s collapse.

New York regulator orders Paxos to stop issuing BUSD

Crypto regulation
February 13, 2023
NYDFS has ordered Paxos to stop issuing new BUSDs. This action by the regulator might cause a decrease in the BUSD market cap over time and users' migration to other stablecoins. 

Paxos under investigation by New York regulator

Crypto regulation
February 10, 2023
Stablecoin issuer Paxos is being probed by the New York Department of Financial Services.

3AC co-founder accused of stonewalling investigation into the firm

Crypto regulation
February 8, 2023
3AC’s liquidators accused Kyle Davies of disrupting investigations into the firm by dodging subpoenas from the court.

New York Regulator Investigates Gemini Over FDIC Claims

Crypto regulation
January 31, 2023
NYDFS is investigating Gemini over FDIC claims. Gemini claimed its Earn product was FDIC insured, but recent events indicate this claim is untrue.

Coinbase Charged $3.6M By Dutch Regulator For Operating Without Registration

Crypto regulation
January 26, 2023
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.

Nexo Agrees To Pay $45M To US Regulators Over Unregistered Lending Product

Crypto regulation
January 20, 2023
Nexo has agreed to pay $45M as penalty fees to the SEC and state regulators for failing to register its Earn Interest Product.

Judge Allows FTX To Auction Off Four Business Units

Crypto regulation
January 13, 2023
Judge John Dorsey authorized FTX to sell LedgerX, Embed, FTX Japan, and FTX Europe.

Bulgarian Authorities Raid Nexo’s Offices On Suspicion Of Fraud

Crypto regulation
January 12, 2023
Nexo’s offices in Sofia were raided by the Bulgarian police on suspicion of illegal activities involving money laundering, tax fraud, and violations of sanctions against Russia.

Binance.US Gains Initial Approval For Voyager Acquisition Deal

Crypto regulation
January 11, 2023
Judge Michael Wiles approved the disclosure statements regarding Binance.US’ plans to acquire Voyager Digital for $1.022B.

US Regulators Probe Digital Currency Group Over Internal Financial Transfers

Crypto regulation
January 7, 2023
The US Securities and Exchange Commission and the Department of Justice have launched investigations into Digital Currency Group over internal financial transfers between the firm and Genesis.

Judge Rules Celsius Owns Assets Held In Earn Accounts

Crypto regulation
January 5, 2023
Martin Glenn, the federal judge presiding over the Celsius bankruptcy case, ruled that the interest-bearing Earn accounts belong to Celsius.

SEC Opposes Binance.US’ $1B Deal For Acquiring Voyager Digital

Crypto regulation
January 5, 2023
The US Securities and Exchange Commission (SEC) has filed a limited objection to Binance.US’ ongoing discussions with Voyager Digital to purchase its assets for $1.022B.

Coinbase Reaches $100M Settlement With NYDFS Over Shortcomings In Compliance Program

Crypto regulation
January 4, 2023
Coinbase has agreed to pay a $50M penalty to New York regulators. The exchange will invest another $50M in its compliance program over the next two years.

CFIUS To Review Transactions Made By Voyager

Crypto regulation
December 31, 2022
The Committee on Foreign Investment in the United States announced it will evaluate transactions involving purchase, merger, or acquisition of Voyager Digital by foreign companies.

Two Former FTX Executives Plead Guilty To Fraud

Crypto regulation
December 22, 2022
Former FTX executives Caroline Ellison and Gary Wang pleaded guilty to charges of committing fraud as the exchange’s former CEO, Sam Bankman-Fried, was extradited to the US.

DFPI Orders MyConstant To Refrain From Offering Crypto-Related Services

Crypto regulation
December 22, 2022
The California Department of Financial Protection and Innovation (DFPI) ordered MyConstant to cease providing crypto-related services to its Californian clients.

Coinbase CEO Proposes Guidelines For Regulation Of Crypto Industry

Crypto regulation
December 20, 2022
Brian Armstrong outlined a blueprint for regulating centralized actors and stablecoin issuers in the wake of FTX’s collapse.

Australian Government Set To Release Regulatory Framework For Cryptocurrencies in 2023

Crypto regulation
December 15, 2022
Australia’s government looking to roll out a regulatory framework for the crypto industry in 2023.

CFTC Declares Bitcoin, Ethereum And Tether As Commodities

Crypto regulation
December 14, 2022
The Commodity Futures Trading Commission labeled Bitcoin, Ethereum and Tether as commodities in its lawsuit against FTX and Alameda Research.

Coinbase Reports 66% Increase In Law Enforcement Requests Since Last Year

Crypto regulation
December 13, 2022
In its latest transparency report, Coinbase reported a significant increase in law enforcement requests between October 2021 and September 2022.

Bahamian Authorities Arrest FTX Founder Sam Bankman-Fried

Crypto regulation
December 13, 2022
Sam Bankman Fried, the Founder and Ex CEO of FTX, was arrested by the Royal Bahamas Police Force after US lawmakers filed criminal charges against him.

Court Approves The Issuance Of Subpoenas To 3AC Co-Founders

Crypto regulation
December 7, 2022
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.

FTX Reportedly Secured Its Australian License Through A Loophole

Crypto regulation
December 6, 2022
FTX Australia acquired the AFSL by purchasing IFS Markets in December 2021. This allowed FTX Australia to operate without undergoing any regulatory tests. 

Liquidators Seize $35.6M From Three Arrows Capital

Crypto regulation
December 3, 2022
Teneo seized $35.6M from Three Arrows Capital’s bank accounts in Singapore following a lack of cooperation from its founders.

US Trustee Requests Court To Appoint External Examiner In FTX Bankruptcy Case

Crypto regulation
December 2, 2022
US Trustee Andrew R. Vara filed a motion with the Delaware Bankruptcy Court to hire an independent examiner to investigate FTX’s collapse.

US Senator Requests Major Crypto Exchanges To Disclose Consumer Protection Safeguards

Crypto regulation
November 30, 2022
Ron Wyden, the Chairman of the Senate Finance Committee, sent letters to the CEOs of six crypto exchanges asking them to reveal the measures they use to protect clients' funds.

Alabama State Regulator Begins Investigations On Genesis

Crypto regulation
November 26, 2022
Alabama Securities Commission is investigating Genesis Global for violation of security laws. The regulator aims to ascertain if Genesis enticed residents to invest without proper registration.‍

Attorney Claims Substantial Amount Of FTX’s Assets Are Stolen Or Missing

Crypto regulation
November 22, 2022
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.

Singapore Police Investigates Binance For Disobeying Local Payment Service Rules

Crypto regulation
November 22, 2022
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.

Court Orders FTX To Reimburse Bahamas Regulators For Holding Its Assets

Crypto regulation
November 22, 2022
The Supreme Court of Bahamas ordered FTX to pay reimbursement fees to the Securities Commission of the Bahamas for holding the firm’s digital assets since November 11.

Chairman Of House Subcommittee Seeks Documents On FTX’s Collapse

Crypto regulation
November 19, 2022
The Chair of the Subcommittee on Economic and Consumer Policy has issued a letter to FTX’s former and current CEOs requesting more details on FTX’s collapse.

Bahamian Regulator Claims It Ordered Sam Bankman-Fried To Move FTX Assets To Government Wallets

Crypto regulation
November 18, 2022
The Securities Commission of the Bahamas (SCB) revealed that the agency instructed FTX to transfer assets to government wallets on November 12.

FBI Seeks To Extradite Sam Bankman-Fried For Questioning

Crypto regulation
November 16, 2022
The FBI is reportedly in talks with Bahamian authorities to extradite Sam Bankman-Fried to the US for interrogation on FTX's downfall.

Bahamas Supreme Court Authorizes Liquidators For FTX Assets

Crypto regulation
November 15, 2022
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.

Bahamian Financial Regulator Freezes Certain FTX Assets

Crypto regulation
November 11, 2022
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.

Aggrieved TerraUSD Investors Sue Do Kwon For $57 Million in Fresh Fraud Lawsuit

Crypto regulation
October 30, 2022
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.

Singapore Moves to Make Borrowing for Crypto Purchases Illegal

Crypto regulation
October 26, 2022
Singapore wants to ban retail investors from borrowing funds to trade cryptocurrency and generating returns from lending and staking. But it does not seek to prohibit crypto services outrightly.

UK Legislators Vote In Favor Of Regulating Crypto Assets As Financial Instruments

Crypto regulation
October 25, 2022
The House of Commons voted to recognize crypto assets as financial instruments. This will allow the authorities to regulate crypto assets under the Financial Services and Markets Bill.

SBF Prefers Censorship?

Crypto regulation
October 25, 2022
Sam Bankman Fried releases a controversial "industry guide" that reveals his stance on major issues in the crypto industry.

SEC Chairman Warns About Centralization In The Crypto Market

Crypto regulation
October 24, 2022
In his recent speech, Gary Gensler, the SEC Chairman, revealed his opinions on the increasing centralization in the crypto ecosystem.

Hong Kong Seeks To Legalize Crypto Trading

Crypto regulation
October 22, 2022
Hong Kong regulators aim to reconsider their stance on crypto by allowing retail investors to directly invest in crypto assets.
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