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Policy
US Regulator Charges Unicoin and Senior Executives with $100 Million Securities Scam
The US Securities and Exchange Commission has filed a lawsuit against Unicoin, a cryptocurrency company, and its top executives, alleging a massive securities fraud scheme that raised over $100 million from investors. The SEC claims that Unicoin deceived investors by falsely stating that its tokens were backed by real estate properties, when in fact, the company never owned the properties and inf…
May 21, 2025, 1:29 a.m.
Policy
Mayor Eric Adams Establishes Crypto Advisory Board in NYC
New York City is poised to launch a digital assets advisory council, as announced by Mayor Eric Adams on Tuesday, with the goal of attracting fintech employment opportunities to the city. The council, comprising industry experts, is expected to have a chairperson appointed in the coming weeks. At a summit held at Gracie Mansion, the mayor's official residence, Adams stated, "We aim to harness tom…
May 20, 2025, 7:38 p.m.
Policy
Genesis Initiates Lawsuits Against DCG to Regain Billions in Alleged Fraudulent Transactions
Genesis, a cryptocurrency lender, and its subsidiaries have filed two lawsuits against their parent company, Digital Currency Group (DCG), DCG's CEO Barry Silbert, and other executives, aiming to recover billions of dollars in crypto that were allegedly transferred fraudulently. The combined lawsuits seek $3.2 billion in restitution. A Delaware court filing seeks $2.2 billion, while a New York co…
May 20, 2025, 4:43 p.m.
Policy
Milei Shutters LIBRA Investigation Unit Following Submission of Findings to Prosecutors
The investigative team responsible for probing President Javier Milei's ties to the LIBRA cryptocurrency has been disbanded after submitting its discoveries to the prosecutor's office. A decree issued by the Ministry of Justice on Monday, signed by Milei and Justice Minister Mariano Cúneo Libarona, stated that the Unidad de Tareas de Investigación (UTI) had achieved its goal. The unit collaborate…
May 20, 2025, 3:54 p.m.
Policy
India's Lack of Clear Crypto Policy Raises Concerns in Supreme Court
The Supreme Court of India has expressed its disappointment over the government's failure to develop a comprehensive policy on cryptocurrency regulation, as reported by The Economic Times on Monday. Justices Surya Kant and N Kotiswar Singh pointed out that the absence of a clear policy has led to the emergence of a 'parallel under-market' for cryptocurrencies, which can have far-reaching conseque…
May 20, 2025, 11:32 a.m.
Policy
US Senate Moves Forward with Stablecoin Legislation, Paving the Way for Potential Approval
On Monday evening, the United States Senate overcame a procedural hurdle by voting to advance stablecoin legislation, bringing the bill one step closer to final approval. By surpassing the required 60-vote threshold, senators have initiated a period of further discussion, which will be followed by a series of final votes to pass the bill out of the Senate. Meanwhile, the House of Representatives …
May 20, 2025, 1:28 a.m.
Policy
Ex-Binance Russia Executive and Blum Co-Founder Detained in Alleged Fraud Investigation
A former head of Binance's Russian operations, Vladimir Smerkis, has been taken into custody in connection with a large-scale fraud case, according to a report by local news agency TASS on Sunday. The Zamoskvoretsky District Court in Moscow approved the detention request from an investigator, as disclosed by a law enforcement source, although specific details of the case were not provided. Attemp…
May 19, 2025, 3:53 p.m.
Policy
Lawyers for Roman Storm Seek Clarification on Potential Evidence Withholding by DOJ
The legal team representing Roman Storm, the developer of Tornado Cash, is inquiring about the possibility that the US Department of Justice may be holding back information that could be beneficial to Storm's case. In a letter submitted on Friday, the defense attorneys expressed concerns that prosecutors may have either misled the presiding judge or acted with a lack of transparency, citing recen…
May 19, 2025, 2:11 p.m.
Policy
Dubai's VARA Enhances Regulatory Framework for Crypto Margin Trading
The Virtual Asset Regulatory Authority (VARA) in Dubai has revamped its regulatory guidelines for the digital asset trading sector. By introducing more stringent leverage controls and collateralization requirements, VARA aims to bring its Broker-Deal and Exchange Rulebooks in line with global risk management standards, as announced on Monday. The regulator has also expanded its rulebook to in…
May 19, 2025, 9:33 a.m.
Policy
Alabama Resident Receives Prison Sentence for Orchestrating Fake SEC Bitcoin ETF Announcement
Eric Council Jr., a 26-year-old from Huntsville, Alabama, has been sentenced to over a year in prison for his involvement in a social media hacking incident that briefly propelled the price of bitcoin upwards. Council pleaded guilty to charges related to the January 2024 hack of the U.S. Securities and Exchange Commission's social media account, as stated in a press release by the U.S. Departme…
May 17, 2025, 1:46 p.m.