Vermont Embraces SECs Approach, Ceases Legal Action Against Coinbase

Vermont Dismisses Legal Action Against Coinbase Over Staking The state of Vermont has recently dismissed a lawsuit that was filed against the cryptocurrency exchange Coinbase over the staking of cryptocurrencies. The lawsuit, which was initially brought forward by a group of individuals who claimed to have suffered financial losses due to Coinbase’s staking practices, has [...]

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Gemini and Genesis Fight Back Against SEC Lawsuit, Seek Dismissal of Allegations

Gemini Trust Company and Genesis Global Capital filed a court document on May 26, 2023, seeking the dismissal of a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The regulatory body had accused the two crypto firms of offering unregistered securities. Gemini and Genesis Refute SEC’s Claims of Unregistered Securities, File Motion to [...]

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Binance Ordered to Cease All Crypto Services in Belgium

Crypto exchange Binance has been ordered by Belgium’s Financial Services and Markets Authority (FSMA) to cease providing any crypto exchange and custody wallet services in the country. The Belgian financial regulator stressed that it “takes the view that by offering such services in Belgium from countries that are not members of the European Economic Area, [...]

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Prime Trust’s financials ‘considerably deteriorated,’ says Nevada regulator

Prime Trust’s financial condition is “critically deficient” and the crypto custodian is unable to honor customer withdrawals according to a cease and desist from Nevada’s business regulator. In a June 21 order, the Nevada, Department of Business and Industry claimed Prime Trust’s financial condition “considerably deteriorated” and the firm is now in an “unsafe or [...]

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Nexo agrees to $45M settlement with SEC and NASAA over earn product

The crypto lender didn't categorically admit or deny the findings from the SEC's investigation despite agreeing to the settlement.

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Kraken quits Japan for the second time, blaming a ‘weak crypto market’

The crypto exchange said it will deregister from Japan’s Financial Services Agency as a crypto asset exchange operator from Jan. 31.

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Metaverse casino served emergency cease and desist to halt NFT sales

Explaining the cease and desist orders, the Texas State Securities Board in particular likened Sloties’ NFTs to something that is “similar to stock and other equities.”

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CZ Says Binance Has Issued a Cease and Desist Notice Against Nigerian ‘Scammer Entity’

Changpeng Zhao, the CEO of Binance, said the recently banned Binance Nigeria Limited has been issued with “a cease and desist notice.” Zhao, who has since branded the Nigeria-registered company a “scammer entity,” told his followers not to believe everything they read in the news. Binance Disassociates Itself From Banned Nigerian Entity The CEO of [...]

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Texas Securities Board Issues Emergency Cease and Desist Order to Abra and CEO, William Barhydt

The Texas State Securities Board has taken decisive action against Abra by issuing an Emergency Cease and Desist Order. The order, also directed at Abra's CEO, William (Bill) Barhydt, alleges securities fraud and misleading statements in connection with Abra's digital asset depository accounts. (Read More)

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Crypto Firm Abra Said to be Insolvent in Texas State Regulators’ Cease-and-Desist Order

According to an emergency cease-and-desist order from the Texas State Securities Board, the cryptocurrency firm Abra is “insolvent or nearly insolvent.” The filing alleges that a group of state securities regulators has been investigating Abra, and the working group interviewed William Barhydt, the company’s founder, in March 2023. Texas State Regulators Issue Cease-and-Desist Order, Citing [...]

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Binance accused of IP theft over PNUT token by Peanut the Squirrel owner

Mark Longo, owner of Peanut the Squirrel, accused Binance of using his Peanuts likeness without permission to promote the PNUT memecoin.

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SEC Halts Platinum Coin Pawnshop’s Illegal Investment Scheme

SEC issues cease and desist order against Platinum Coin Pawnshop for operating an illegal investment scheme in the Philippines.

The post SEC Halts Platinum Coin Pawnshop’s Illegal Investment Scheme appeared first on BitPinas.

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Multiple US state regulators allege AI trading dApp is a Ponzi scheme

Securities regulators from Montana, Texas, and Alabama have jointly filed enforcement actions against cryptocurrency trading platform YieldTrust.ai alleging it is “perpetrating a Ponzi scheme.” According to April 4 statements from the Montanian, Texan and Alabamian regulators, YieldTrust.ai and its Romanian owner, Stefan Ciopraga, claimed the decentralized application (dApp) called “YieldBot” is “powered by cutting-edge artificial [...]

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Coinbase to cease issuing new Bitcoin-backed loans via Borrow service

The service allowed users to borrow up to $1 million with no credit check, provided they posted Bitcoin as collateral.

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