Tag Archives: #Legal

To crack down on fraudulent activities and safeguard consumer interests, the Federal Communications Commission (FCC) has officially prohibited using artificial intelligence-generated voices in unwarranted robocalls across the United States. This move follows an incident where New Hampshire residents received fabricated voice messages mimicking U.S. President Joe Biden, advising against participation in the state’s primary election. FCC Extends TCPA Protections The ban,...

A former developer at Terraform Labs, known only as “Lee,” reportedly took the stand on Monday at the 14th Criminal Division of the Seoul Southern District Court, testifying against the company’s co-founders, Kwon Do-hyeong and Shin Hyun-seung. The witness, formerly a leader within the Terra development team, provided crucial testimony against Terra founder Do Kwon and Terraform Labs co-founder Shin Hyun-seung. Lee’s Testimony According to a local media outlet report, Lee...

Last year, the European Union unanimously voted for the Markets in Crypto Assets (MiCA) bill, considered by most to be the first comprehensive piece of legislation addressing the crypto industry as a whole. MiCA is, in itself, part of a larger set of financial laws known as DORA – but it has also given many crypto companies a reason to consider moving the bulk of their operations across the ocean. Several Adjustments to The Bill Although MiCA was published back in June 2023,...

Ben Armstrong, widely known as “Bitboy,” has announced the discontinuation of his daily crypto show, bringing an end to a three-year run that garnered a significant following. The decision comes amid financial challenges and legal battles that have been plaguing the influential crypto personality. Financial Strain and Mounting Legal Bills Armstrong revealed the news through an emotional 10-minute video posted on his personal YouTube channel, where he disclosed that the daily...

According to Manhattan federal prosecutors, Mark Scott, a former partner at the U.S. law firm Locke Lord, has been sentenced to 10 years in prison for his involvement in a $400 million fraudulent cryptocurrency scheme. The sentencing took place on Thursday, and Scott was found guilty of conspiracy to commit money laundering and conspiracy to commit bank fraud in November 2019, linked to his role in the OneCoin cryptocurrency fraud. Judge Orders $392 Million Forfeiture U.S....

Changpeng Zhao, the founder of the crypto exchange Binance, encountered a setback last month when a federal judge denied his request to travel to the United Arab Emirates. CZ proposed using his substantial $4.5 billion stake in Binance as collateral, based on the company’s valuation from its last fundraising round two years ago. However, the Judge still rejected the request. Zhao Requests Travel Permission In November, Zhao pleaded guilty in a Seattle federal court for...

During the pandemic, a new mandate requiring Canadian truckers that carried out trips across the border into the United States to receive the COVID-19 vaccine was wildly unpopular, resulting in what was known as the “Freedom Convoy” protest. Following a decision to protest the measure, truckers blocked the streets of Ottawa with their trucks and were supported in doing so by a significant amount of people both in Canada and abroad. Turning to Crypto Funding In order to...

The EU Parliament and Council recently reached a provisional agreement on a list of anti-money laundering and anti-terrorist financing laws. Although further deliberation on other proposed measures is yet to be had, the new measures will help streamline the efforts of the national financial agencies of EU countries in this area. Although cryptocurrencies are not the main focus of the new laws, the industry is nonetheless explicitly targeted by several of the provisions....

Joseph Bankman and Barbara Fried were always close to their son. A certain amount of interest in the well-being of their son and that of his business dealings is to be expected. However, the FTX estate, now led by bankruptcy specialist CEO John J Ray III, argues that SBF’s parents – particularly his father – had a much bigger presence in the FTX Groups’ dealings than it appears on paper. If the allegations can be proven true, benefits derived from FTX and its former CEO could...

The U.S. Securities and Exchange Commission (SEC) has expressed a lack of opposition to postponing the Terraform co-founder Do Kwon’s crypto fraud trial and, instead, is open to waiting until he is extradited. Two court filings were submitted by federal prosecutors, outlining the case against Kwon and Terraform Labs concerning the $40 billion collapse of TerraLuna (LUNC) and TerraUSD (UST) in May 2022. SEC Consents to Delay in Terraform Case The SEC has consented to a “modest...