Do Kwon Challenges SEC’s Jurisdiction in Multibillion-Dollar Crypto Securities Fraud Case
Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law precludes regulators “from using federal securities law to assert jurisdiction over the digital assets […]
Aussies revealed as prime targets of Israel crypto scam syndicate
Evidence found that Australians were one of the top countries targeted in a sophisticated cryptocurrency investment scam network, which has suspected kingpins in Israel.This post was originally published on this site
House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest
On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services […]
NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue […]