Celsius Token Holders Lose Bid to Hike CEL Valuation
Creditors of the bankrupt crypto lender argue it should be valued at $0.80, its nominal price when the company collapsed, despite allegations of market manipulation
Regulations
Sweeping U.S. Tax Proposal Met With Boos From Crypto World
An immediate burst of criticism from the crypto industry shows the U.S. Treasury Department’s new proposal on how to handle digital assets taxes will face a long road as it enters a months-long period of public comments and hearings.
Ex-OpenSea Executive Nate Chastain Gets 3 Months in Prison for Insider Trading
Nate Chastain, the former head of product at NFT platform OpenSea, has received a three month prison sentence for making tens of thousands of dollars worth of insider trades. Chastain, 33, was convicted of fraud and money laundering in federal court in New York in May. The conviction marked the end to what prosecutors called … Read more
Prosecutors File Proposed Jury Instructions for Sam Bankman-Fried Trial
The U.S. Department of Justice filed its proposed set of jury instructions for Sam Bankman-Fried’s October trial a day before he is set to be arraigned on a new superseding indictment. Prosecutors filed the document, titled “the government’s requests to charge,” late Monday, adapting from various previous sets of jury instructions including past statements from … Read more
Sam Bankman-Fried Due Back in Court as He Asks for Daily Releases
Sam Bankman-Fried will have five and a half hours with his attorneys, minus any time spent being arraigned yet again Tuesday on his latest indictment, which folded campaign finance allegations into existing charges. Bankman-Fried, who pleaded not guilty to most of those same charges, faces a new superseding indictment after prosecutors said they would have … Read more
UK ‘Travel Rule’ Won’t Completely Nix Transfers to Noncompliant Places, FCA Says
New crypto money laundering rules needn’t completely stop transfers to countries that don’t follow international norms, the U.K.’s Financial Conduct Authority (FCA) said in guidance published Thursday. Controversial new measures known as the travel rule, requiring crypto operators to identify the sender and recipient of funds transfers, are already legislated to take effect in the … Read more
SEC Can Try to Appeal Groundbreaking XRP Ruling, Judge Rules
A federal judge has let the U.S. Securities and Exchange Commission (SEC) argue it can appeal against her ruling that Ripple didn’t violate securities laws in making XRP available to retail traders by putting it on exchanges. Judge Analisa Torres, of the U.S. District Court for the Southern District of New York, granted the request … Read more
Celsius Creditors to Vote on Bankruptcy-Escape Plan After Judicial Approval
Bankrupt crypto lender Celsius is to hold a vote on its plan to sell assets to the Fahrenheit consortium, after a judge on Thursday approved disclosures that suggested creditors can expect to recover 67%-85% of holdings. Approval marks a final stepping stone on Celsius’ year-long march out of bankruptcy and the return of funds to … Read more
XRP Ruling Needs Appeals Court Review, SEC Says
The U.S. Securities and Exchange Commission (SEC) asked for permission on Friday to appeal a federal judge’s ruling that XRP sales through exchanges didn’t violate securities law, a day after the judge said the SEC could present its argument. The SEC petitioned Judge Analisa Torres, of the U.S. District Court for the Southern District of … Read more
Coinbase-Backed Group Loses Lawsuit Arguing Tornado Cash Sanctions Overstepped U.S. Treasury’s Authority
A group of crypto investors and developers lost a lawsuit funded by Coinbase that sought to argue the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service designed to make crypto transactions anonymous. Tornado Cash is an actual entity in itself, which has a property interest in its smart contracts, wrote … Read more