Australian Court Exempts Block Earner from Paying Penalty; Criticizes Regulator’s Misleading Press Release

June 5, 2024 Bitcoin.com

bitcoin.com

A Federal court in Australia has relieved the crypto firm Block Earner from paying a penalty for breaching the financial services law when it offered the Earner product. According to the ruling, Block Earner “acted honestly and not carelessly,” hence it should not be made to pay a pecuniary penalty. The Federal Court judge criticized […]

Crypto’s Wild Week: 0B Wiped Out as Markets Stage a Fragile Comeback

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

US Media Executive Charged in $67 Million Fiat-to-Crypto Money Laundering Scheme

June 4, 2024 Bitcoin.com

US Media Executive Charged in Million Fiat-to-Crypto Money Laundering Scheme

Bank Fraud

The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Block Earner spared penalty in regulator’s crypto yield suit

June 4, 2024 Coin Telegraph

ASIC

The Australian federal court relieved Block Earner from paying a penalty in the local financial regulator’s legal action over unlicensed crypto yield-bearing products.

Australia’s federal court has relieved fintech firm Block Earner from paying a fine despite the court finding it offered a crypto yield-bearing product without a financial services license.

Justice Ian Jackman ruled on June 4 that Block Earner “acted honestly,” and at the time its yield-bearing “Earner” product launched, it did consider getting licensed, but its research and legal advice concluded it didn’t need one.

Block Earner founder and CEO Charlie Karaboga told Cointelegraph that getting a legal opinion before it launched the product “showed that we acted honestly and did everything that we could do as a startup.”

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Community Backlash Forces Matter Labs to Drop ‘ZK’ Trademark Bid

June 4, 2024 Bitcoin.com

bitcoin.com

The developer of the Zksync Ethereum Layer 2 network, Matter Labs, abandoned its bid to trademark the term ‘ZK’ just days after asserting its right to do so. Matter Labs’ trademark bid withdrawal follows a furious community backlash that ultimately saw co-inventors of zero-knowledge proofs publicly chastise the developer. Community Backlash Ends Matter Labs’ ZK […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Hong Kong Police Advisory Group Warns of Surge in Digital Asset-Linked Crime

June 4, 2024 Bitcoin.com

bitcoin.com

The Hong Kong Technology Crime Police Advisory Group has warned about the rise of digital asset-linked crime, calling for the establishment of a regulatory system to identify and eliminate risks associated with this tech. According to police data, almost $550 million was involved in digital asset crimes during 2023, with 90% of these cases involving […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Dapper Labs Secures Favorable Settlement in Class Action Lawsuit Involving NBA Top Shot NFTs

June 3, 2024 Bitcoin.com

bitcoin.com

Dapper Labs, a blockchain technology and digital collectibles company, has reached a favorable settlement in the legal case Friel vs. Dapper Labs, establishing that NBA Top Shot Moments are not securities. The company emphasizes that this significant ruling clarifies the legal status of digital collectibles and ensures the continued decentralization of the Flow blockchain. Dapper […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Coinbase Challenges SEC’s Rulemaking Process, Argues for Clear Regulations on Digital Assets

June 1, 2024 Bitcoin.com

bitcoin.com

Coinbase, Inc. has escalated its dispute with the Securities and Exchange Commission (SEC) by filing a reply brief in the Third Circuit Court of Appeals, arguing the necessity of clear rulemaking for the digital asset industry. The case underscores the ongoing tensions between regulators and the digital asset sector over compliance and operational standards. Coinbase […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Coinbase Seeks Immediate Appellate Review in SEC Lawsuit, Citing Recent Legislation

May 25, 2024 Bitcoin.com

Appeal

As Coinbase seeks an interlocutory appeal in its legal dispute with the U.S. Securities and Exchange Commission (SEC), recent legislative developments have highlighted a growing discord between U.S. Congress and the SEC over digital asset regulation. This past week, legislators passed comprehensive digital asset legislation aimed at curbing the SEC’s expansive jurisdiction claims. As Coinbase […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

Uniswap Challenges SEC Wells Notice, Defends Autonomous Protocol

May 23, 2024 Bitcoin.com

bitcoin.com

Uniswap Labs has responded to the U.S. Securities and Exchange Commission’s Wells Notice, asserting that its protocol does not fall under the agency’s regulatory jurisdiction. The response emphasizes the autonomous nature of Uniswap’s decentralized finance (defi) technology and argues against the classification of its activities as operating an exchange or broker. Uniswap Responds to SEC […]

Crypto’s Wild Week: $190B Wiped Out as Markets Stage a Fragile Comeback

The Bitcoin Policy Institute Launches the Peer-to-Peer Rights Fund to Help Defend Samourai Wallet Founders

May 22, 2024 Bitcoin.com

Bitcoin

The Bitcoin Policy Institute, a non-profit organization supporting bitcoin initiatives, has launched the Peer-to-Peer Rights Fund, a project seeking to protect bitcoin’s decentralized nature from regulatory overreach. The fund’s first objective is to aid in the defense of the founders of Samourai Wallet given the relevance of the case for the industry. Peer-to-Peer Rights Funds […]

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