The cryptocurrency exchange Binance and its chief executive officer, Changpeng Zhao (CZ), are currently facing yet another set of challenges in the form of a prominent court case. Just a few days after the United States CFTC filed a lawsuit against Binance, the law firms of Moskowitz Law Firm and Boies Schiller Flexner also have … Read more
In his most recent testimony before the House Appropriations Committee, Gary Gensler, Chairman of the US SEC, said that the United States had a perfectly suited law for the cryptocurrency business. According to a report (1), Gensler asserted that the existing Securities law already applies to crypto businesses and that there is no requirement for … Read more
The Chief Executive Officer of Binance, Changpeng ‘CZ’ Zhao, has responded to the complaint lodged against the exchange by the Commodities Futures Trading Commission (CFTC). CZ brought up many points in response to the federal agency’s request for a US injunction against Binance, and these issues are alleged in the lawsuit. CZ further stated that … Read more
As a direct consequence of the recent regulatory crackdown on Coinbase and Binance, the cryptocurrency market, dominated by Bitcoin and Ethereum prices, has lost some of its upward impetus in the short term. A Wells warning has already been delivered to Coinbase Global by the SEC in relation to the company’s staking & token listing … Read more
According to recent reports, the advanced economies of the Group of Seven (G7), which consists of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union, are collaborating to develop stricter regulations for the cryptocurrency business. Those who are familiar with the situation claim that during the next G7 summit, … Read more
According to the most recent White House report to Congress, the government of former Vice President Joe Biden mentioned that most crypto assets are either uncontrolled securities, a commodity, a derivative, or other investment derivatives, depending on the basics underpinning them. As a consequence, all digital assets, except for Bitcoin, which is generally considered digital … Read more
The Internal Revenue Agency (IRS) may be considering a policy change that would prohibit individuals from contributing non-qualified financial assets (NFTs) to individual retirement accounts (IRAs). This comes as a result of the Internal Revenue Service (IRS) and the United States Treasury Department (Treasury Department) announcing their intentions to publish recommendations that would treat non-fungible … Read more
On Tuesday, March 21, the Supreme Court of the United States is going to hear (1) its very first case ever involving crypto. The attorneys defending the cryptocurrency exchange Coinbase will be asking nine chief justices to hear their request to stop two class action lawsuits that have been filed against the cryptocurrency trading platform. … Read more
Ron DeSantis, the governor of Florida, is proposing a law that would make it illegal to use central bank-issued digital currencies (also known as CBDCs) anywhere within the state. The governor was quoted as saying in a press release that the parliamentary proposal is being considered in order to protect businesses and inhabitants of the … Read more
Senator Michael Bennet of Colorado stated that Signature Bank did not make decisions that were “prudently sound” in dealing with cryptocurrency. Several U.S. senators are of the opinion that the Federal Reserve is trying to use cryptocurrency as a scapegoat for its failed banking practices. Michael Bennet, a senator representing Colorado in the United States … Read more