Ripple Wins Partial Summary Judgment in Securities Lawsuit

June 21, 2024 Bitcoin.com

bitcoin.com

The U.S. District Court for the Northern District of California has issued an order granting in part and denying in part the motion for summary judgment in a lawsuit concerning allegations of securities law violations against Ripple Labs, XRP II, and Ripple CEO Brad Garlinghouse. Court Ruling on Ripple’s Securities Lawsuit The U.S. District Court […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

Unlicensed Crypto Business Leads to Indictments in Utah

June 20, 2024 Bitcoin.com

bitcoin.com

Two Utah residents have been indicted for operating an unlicensed money-transmitting business, converting over $2.5 million into cryptocurrency, according to the U.S. Department of Justice (DOJ). The two were arrested over the weekend in Washington County. Utah Men Arrested for Illegal Cryptocurrency Transactions The U.S. Department of Justice and the U.S. Attorney’s Office for the […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

US Charges Empire Market Operators in $430M Dark Web Scheme — They Face Maximum Sentence of Life in Prison

June 19, 2024 Bitcoin.com

US Charges Empire Market Operators in 0M Dark Web Scheme — They Face Maximum Sentence of Life in Prison

bitcoin.com

The U.S. Homeland Security Investigations has charged two men for operating Empire Market, a dark web marketplace, facilitating $430 million in illegal transactions. The defendants face severe penalties, including life imprisonment. “During the investigation, federal law enforcement seized cryptocurrency valued at $75 million at the time of the seizures, as well as cash and precious […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

Multiple US States Have Revoked Binance US Crypto Licenses

June 18, 2024 Bitcoin.com

Binance

Multiple U.S. states have revoked or declined to renew Binance US money transmitter licenses due to compliance issues and legal troubles involving former CEO Changpeng Zhao (CZ). “North Dakota joins Alaska, Florida, Maine, North Carolina, and Oregon who have taken similar actions to revoke or deny the renewal of BAM Trading Services’ Money Transmission License,” […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

Indian Authority Cracks Down on Highrich Online’s Crypto Operations

June 16, 2024 Bitcoin.com

bitcoin.com

India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual interest rate and offering 30% direct referral income for introducing new customers. […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

Nigeria Drops Tax Evasion Charges Against Binance Executives

June 14, 2024 Bitcoin.com

Biden Administration

Nigerian authorities dropped tax evasion charges against two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, after the cryptocurrency exchange appointed a local representative to represent it in ongoing court cases. Following the decision, Binance stated that it awaits the court’s complete discharge of the executives from the cases. Binance Appoints Local Representative On June 14, […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court

June 14, 2024 Bitcoin.com

Bitcoin

The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

DOJ and FBI Unveil Charges Against 3 UK Nationals in NFT Rug Pull Scam

June 10, 2024 Bitcoin.com

Bitcoin

The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development. “They allegedly took investor funds, never developed the game, and pocketed the proceeds.” US Charges 3 UK Nationals in NFT Rug […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

Indian Authority Busts Cryptocurrency Fraud Ring Targeting Foreign National

June 9, 2024 Bitcoin.com

bitcoin.com

India’s Enforcement Directorate (ED) has cracked down on a cryptocurrency fraud ring targeting a foreign national. The accused persuaded the victim to transfer $400,000 to a cryptocurrency account set up using unauthorized remote access. The ED seized digital evidence, froze fixed deposits, and confiscated jewelry connected to the case. The investigation is still ongoing. ED […]

Consumer Financial Protection Bureau Proposes Refund Requirements Following Crypto Hacks: Report

New York Cracks Down on Crypto Pyramid Schemes Targeting Immigrants

June 7, 2024 Bitcoin.com

Bitcoin

New York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns. NYAG Letitia James Takes Action Against Crypto […]

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