Category: Law and Order

SEC’s Crypto Custody Roundtable Begins Tomorrow, Here’s What You Should Know As crypto custody rules face scrutiny, the SEC gathers industry voices to debate the future of safeguarding digital assets. Callan Quinn Go to decrypt.co

SEC Sues Crypto Executive Over Alleged $198 Million Scheme The SEC alleged PGI Global sold “membership packages” as unregistered securities amounting to $198 million. Vismaya V Go to decrypt.co

Jay Clayton Takes Helm at SDNY, Returning to Government With Crypto Record in Tow Jay Clayton takes charge of Wall Street’s most powerful prosecutor’s office, bringing a controversial crypto enforcement record and deep ties to the financial sector. Vince Dioquino Go to decrypt.co

Yuga Labs Demands $400K in Influencer’s Crypto Wallets Over NFT Lawsuit The company has accused influencer Jeremy Cahen of evading a court order tied to the Bored Ape trademark case. Callan Quinn Go to decrypt.co

WazirX Nears Comeback as Singapore Court Sets May Hearing on $234M Restructuring Plan WazirX claims it’s on track to relaunch and distribute payouts pending court approval of its restructuring plan following last year’s hack. Callan Quinn Go to decrypt.co

Perplexity AI to Testify in Google Antitrust Case, Says Consumer Choice Is the Fix Perplexity is pushing back on a Google breakup, telling a court the real problem is Android’s tight grip on search defaults. Vismaya V Go to decrypt.co

Paul Atkins Returns to SEC Helm as Trump Reasserts Influence Over Agency Watchdog Former SEC Commissioner Atkins returns to shape a “rational” crypto framework, with a $327M net worth, he’s the richest SEC chair in decades. Vince Dioquino Go to decrypt.co

Brazilian Men Sentenced in $190 Million Bitcoin Investment Ponzi Scheme A Brazilian court has sentenced the men behind Bitcoin investment scam Braiscompany to a combined 170 years behind bars. Mathew Di Salvo Go to decrypt.co

Trump Media Calls for SEC to Investigate ‘Suspicious’ Trading of DJT Stock Truth Social parent company Trump Media & Technology Group alleged that UK-based Qube might be shorting DJT stock without disclosing its positions properly. Liz Napolitano Go to decrypt.co

Hong Kong Approves Latest Ethereum Staking ETF as New Rules Take Root Hong Kong is changing its tune following a new law, approving for the second time an Ethereum ETF with a staking component. Vince Dioquino Go to decrypt.co

Trump Administration Weighing Ban Against China’s DeepSeek: Report National security concerns grow as Washington eyes Chinese AI startup DeepSeek and pressures Nvidia over tech transfers. Callan Quinn Go to decrypt.co

A16z Calls on SEC to Update Crypto Custody Rules for Registered Investment Advisers A16z has penned a letter to the SEC calling for revised custody rules to allow RIAs to hold crypto assets directly. Vismaya V Go to decrypt.co

Coinbase Urges Australia to Vote for Crypto Progress in May Coinbase called on Australia to back crypto reform in the May 3 vote, warning lack of regulation is driving talent and capital offshore. Vismaya V Go to decrypt.co

Tariffs May Help Fund US Bitcoin Reserve Buildup Says White House Advisor Bo Hines White House digital assets director Bo Hines cites tariffs as one of several “budget-neutral” options being explored to acquire Bitcoin. Vince Dioquino Go to decrypt.co

Another Swedish Lawmaker Pushes to Add Bitcoin to National Reserves Two Swedish MPs want Bitcoin added to reserves, mirroring U.S. efforts to build a national crypto reserve from seized digital assets. Vismaya V Go to decrypt.co

Phantom Wallet Sued Over $500K Meme Coin Theft Linked to Alleged Security Flaw The plaintiffs allege Phantom exposed users to malware and crypto theft. They are now seeking $3.1 million in damages. Vince Dioquino Go to decrypt.co

South Korea Blocks Apps of Crypto Exchanges on Apple, Google Stores Google and Apple pulled apps, including KuCoin and MEXC, after authorities flagged them for operating without proper registration. Callan Quinn Go to decrypt.co

Man Pleads Guilty to Submitting False Tax Returns Tied to $13M CryptoPunks Sales Waylon Wilcox sold millions in CryptoPunks NFTs but told the IRS he hadn’t touched digital assets. Now he’s facing prison time. Callan Quinn Go to decrypt.co

Crypto Exchanges Like Coinbase May Soon Get a Regulatory Sandbox to Play In SEC leadership floated the possibility Friday of regulatory exemptions that would allow crypto exchanges to experiment with the trading of tokenized securities. Sander Lutz Go to decrypt.co

Coinbase CLO Slams FDIC for ‘Absurd’ Delays in Crypto Debanking Records Lawsuit Coinbase opposed FDIC’s request for a 16-day delay in a FOIA case, calling the agency’s stall tactics “legally incorrect.” Vismaya V Go to decrypt.co

Arizona’s Bitcoin Mining Bill Advances to Governor’s Desk Arizona moves to shield blockchain and AI computing at home while racing other states on Bitcoin reserve bills. Vismaya V Go to decrypt.co

Crypto Competitors Grayscale and Osprey Settle Two-Year Tussle Over Bitcoin ETFs A Connecticut court filing reveals the pair have agreed to settle. Now they have 45 days or less to figure out how to go about it. Vince Dioquino Go to decrypt.co

Startup CEO Charged After ‘AI’ Turns Out to Be Humans in the Philippines Investors wanted an AI unicorn. Instead, they got a very expensive customer service team in Southeast Asia. Callan Quinn Go to decrypt.co

OpenAI Countersues Elon Musk, Accuses Billionaire of ‘Bad-Faith Tactics’ Emails from OpenAI allegedly show Musk pushed to abandon its nonprofit model, take majority equity, and become CEO. Vismaya V Go to decrypt.co

OpenSea Asks SEC for Clarity on NFT Marketplace Rules OpenSea, which describes itself as a digital bazaar, wants regulators to draw a clear line between NFT marketplaces, exchanges, and brokers. Callan Quinn Go to decrypt.co

Argentine Congress Approves Probe into Officials Over Libra Scandal Argentina’s Chamber of Deputies has voted to investigate top officials after the Milei promoted Libra meme coin tanked in February. Vince Dioquino Go to decrypt.co

New York Bill Proposes Using Blockchain to Safeguard Election Results Assemblyman Clyde Vanel’s new proposal would evaluate how blockchain can secure voter records and election results. Vismaya V Go to decrypt.co

Meta Accused of Assisting China’s AI Ambitions, Whistleblower to Tell Congress Former policy chief Sarah Wynn-Williams said Meta allegedly compromised U.S. interests and misled lawmakers about its AI dealings with China. Vismaya V Go to decrypt.co

Nigerian Court Adjourns Binance Tax Case to End of April: Report Nigeria is seeking $81.5 billion from Binance, alleging its activities harmed the economy and devalued the Naira. Callan Quinn Go to decrypt.co

Hong Kong Regulator Now Lets Regulated Firms Offer Staking Services Drawing a parallel between floppy disks and innovation, Choi said Monday blockchain tech has the potential to “rewrite the rules” of finance. Vince Dioquino Go to decrypt.co

UK Police Team With Law Firm for Asset Recovery Program Following Crypto Fraud Seizure After a successful pilot in which crypto assets were recovered on behalf of an elderly victim, London police are taking the next step. Simon Chandler Go to decrypt.co

Tether May Launch New Stablecoin If US Regulators Push Out USDT, Says CEO Tether pictures a long-term reality in which USDT is not offered in either the United States or Europe, Paolo Ardoino said Friday. Sander Lutz Go to decrypt.co

US House Committee Votes to Move Forward on Anti-CBDC Bill Minnesota Republicans’ Anti-CBDC Act passes key committee, aiming to curb federal surveillance through digital currencies. Callan Quinn Go to decrypt.co

Illinois to End Lawsuit Against Coinbase Over Staking Program: Report The state would become the fourth to withdraw its legal actions against the crypto exchange. Six other cases are pending. Vince Dioquino Go to decrypt.co

Unicoin Co-Founder Wants to Be ‘Next’ as SEC Eases Crypto Crackdown Under Trump Unicorn’s CEO is urging the SEC to drop its probe against his company, pointing to recent dismissals of multiple high-profile cases. Vince Dioquino Go to decrypt.co

Stablecoin Transparency Bill Passes House Committee With Overwhelming Vote The STABLE Act has cleared the House Financial Services Committee, even as scrutiny of Trump-linked stablecoin ventures mounts. Vince Dioquino Go to decrypt.co

Lawmakers Press SEC for Details on Trump’s Crypto Connections Trump’s crypto ties pose “an unprecedented conflict of interest,” said lawmakers asking the SEC for answers on paused enforcement cases. Vismaya V Go to decrypt.co

Crypto-Backed Candidates Patronis and Fine Win Key Florida Seats Broad crypto super PAC support has given the GOP’s slim House majority two new wins in Florida in a bid to pursue pending crypto legislation. Vince Dioquino Go to decrypt.co

SEC, Gemini Seek 60-Day Pause on $900M Crypto Lending Case The request to stay Gemini v. SEC forms part of a broader regulatory pullback under Trump, following instances with Coinbase and Ripple. Vince Dioquino Go to decrypt.co

Kentucky Joins South Carolina, Vermont in Dismissing Coinbase Lawsuits Kentucky has dismissed its Coinbase staking suit days after passing pro-crypto legislation, following in the footsteps of other states. Vismaya V Go to decrypt.co

Coinbase CEO Slams ‘Outdated’ Stablecoin Rules, Pushes for Interest Payments Pending legislation should allow crypto firms to offer “onchain interest” to stablecoin holders without government favoritism, Armstrong said. Callan Quinn Go to decrypt.co

Australia Puts Crypto ATM Providers ‘On Notice’ Over Money Laundering Concerns Crypto kiosks are under fire for allegedly enabling scams, prompting swift regulatory pushback from Australia’s financial regulator. Vismaya V Go to decrypt.co

Japan Eyes Giving Crypto Assets Legal Status: Report The country’s financial regulator is rethinking how it wants to treat crypto, including provisions to curb insider trading. Vince Dioquino Go to decrypt.co

Iran Officials Allegedly Steal $21 Million in Crypto While ‘Investigating’ Corruption Cryptoland CEO Sina Estavi was tricked into paying $10,000 to “buy back” stolen tokens from what he believed was a third party. Vismaya V Go to decrypt.co

Hawk Tuah Girl Says SEC Dropping Probe Into Solana Meme Coin: TMZ Haliey Welch went viral last year following an interview about sexual techniques. André Beganski Go to decrypt.co

Influencer Behind Solana Meme Coin Files Abuse Lawsuit Against Andrew Tate Stern has detailed her allegations of sexual assault from Tate describing it as a “traumatic” encounter tied to crypto promotions. Vince Dioquino Go to decrypt.co

SEC Officially Drops Cases Against Kraken, ConsenSys, and Cumberland DRW The agency has officially ended what has been characterized as a “wasteful, politically motivated campaign” against the crypto industry. Vince Dioquino Go to decrypt.co

President Trump to Sign Repeal of Controversial DeFi Broker Rule Critics called the rule “unworkable,” noting DeFi platforms run on automated code without human oversight or user identification. Vince Dioquino Go to decrypt.co

Elizabeth Warren Calls Stablecoin Bill a Trump and Musk ‘Grift’ Senator Elizabeth Warren accused Trump of using his stablecoin to “enrich himself,” criticising the bill for empowering him and Musk. Vismaya V Go to decrypt.co

California Judge Dismisses Dfinity Investor Suit For Being ‘Time-Barred’ A California federal judge has tossed the case against Dfinity, citing it exceeds the statute of repose by a year and six months. Vince Dioquino Go to decrypt.co

Crypto Rules Top Paul Atkins’ SEC Agenda Ahead of Committee Hearing Trump’s SEC nominee signals a dramatic pivot from Gensler-era crackdowns as Capitol Hill braces for a regulatory reset. Callan Quinn Go to decrypt.co

SEC Schedules Four New Roundtables for Crypto Task Force The SEC is aiming to discuss and solve regulatory issues around crypto trading, custody, tokenization, and decentralized finance. Vince Dioquino Go to decrypt.co

SEC Drops Investigation into Web3 Gaming Firm Immutable The regulator’s decision to drop its probe into Immutable follows several high-profile cases against crypto firms it has ceased to pursue. Vince Dioquino Go to decrypt.co

Crypto Startups Should Be Allowed to Raise Money With NFTs, Says SEC Leadership Commissioner Hester Peirce said Friday NFTs could be the next crypto sector the agency addresses with an exemptive statement. Sander Lutz Go to decrypt.co

Ethena’s USDe Stablecoin Sales Blocked by German Regulator Over ‘Serious Deficiencies’ The German regulator stepped in to squash offerings of Ethena’s USDe stablecoin, citing “serious deficiencies in the approval procedure.” Logan Hitchcock Go to decrypt.co

Tether Engaging With ‘Big 4’ Accounting Firm on Independent Audit: Report Critics have raised questions about the stablecoin giant for not being independently audited. Mathew Di Salvo Go to decrypt.co

Australia Unveils New Crypto Regulations, Pledges Action on Debanking Australia’s Albanese Government has unveiled new crypto rules targeting exchanges and stablecoins, with plans to curb debanking. Sebastian Sinclair Go to decrypt.co

Trump Aides Look To Reform USAID With Blockchain For ‘Transparency’: Report A purported DC proposal to rename the humanitarian agency includes a plan to use blockchain for “innovation and efficiency.” Vince Dioquino Go to decrypt.co

Gotbit Founder Forfeits $23M in Crypto Market Manipulation Plea Deal The Gotbit founder’s plea agreement could result in no prison time and no additional fines beyond the forfeiture, pending court approval. Vince Dioquino Go to decrypt.co

Authorities Target Crypto Scammers Posing as Binance in Australia Through Operation Firestorm, Australian authorities disrupted a complex crypto scam impersonating Binance. Vismaya V Go to decrypt.co

Director of ’47 Ronin’ Charged With Defrauding Netflix, Misusing $11M on Crypto and Luxury Goods The filmmaker faces up to 90 years in prison for allegedly misappropriating funds meant for a Netflix sci-fi series. Vince Dioquino Go to decrypt.co

Cumberland Secures In-Principle Approval for Singapore Payment License Cumberland’s Asia unit has moved closer to offering regulated digital asset services as Singapore solidifies its role as a regional hub. Sebastian Sinclair Go to decrypt.co

SEC’s Uyeda Signals Possible Revisions to Crypto Custody Rule The SEC, under Mark Uyeda, has moved away from Gary Gensler’s tough stance on crypto, revisiting key proposals. Vismaya V Go to decrypt.co

House Bill to Build Trump’s Bitcoin Reserve Has One Major Difference A new House bill from a Trump ally would codify a federal Bitcoin Reserve—but it differs in one key way from the bill introduced in the Senate. Sander Lutz Go to decrypt.co

Wales Man Loses Appeal to Dig Out Hard Drive Holding $676 Million in Bitcoin The UK court system has issued a final ruling preventing James Howells from searching a landfill where he believes his hard drive containing the Bitcoin was dumped.  Liz Napolitano Go to decrypt.co

Vermont Drops Crypto Staking Case Against Coinbase Coinbase CLO Paul Grewal is now urging Congress to capitalize on bipartisan momentum for comprehensive crypto legislation. Vismaya V Go to decrypt.co

US Court Approves 3AC’s Bid to Expand $1.5B Claim Against FTX The ruling allows 3AC’s liquidators to pursue a much larger recovery from FTX’s bankruptcy estate, adding to the complexity of existing claims. Sebastian Sinclair Go to decrypt.co

Argentine Lawyer Calls for Arrest of Crypto Entrepreneur Tied to Libra Scandal The lawyer has asked Interpol to help arrest crypto founder Hayden Davis over the LIBRA scandal that cost investors millions. Vince Dioquino Go to decrypt.co

Coinbase to Halt Trading of Meme Coins Floki, Turbo, and Giga in New York Prices for Floki, Turbo, and Giga were little changed despite Coinbase announcing the suspension of trading on its platform in New York. Vismaya V Go to decrypt.co

Token Metrics CEO Ian Balina Says SEC to Drop Its Case Against Him The crypto personality claims the regulator will dismiss charges related to his promotion of Sparkster’s $30 million ICO in 2018. Vince Dioquino Go to decrypt.co

New Evidence Reveals Extent of South Korean Official’s Crypto Investment Fraud Authorities said the civil servant forged documents and used the mayor’s seal to open a bank account, diverting funds for crypto investments. Vismaya V Go to decrypt.co

House Passes Vote to Overturn Biden-Era DeFi Broker Rule The Bipartisan coalition voted to nullify tax reporting requirements that critics labeled as technically impossible for DeFi platforms. Vince Dioquino Go to decrypt.co

Senate Banking Committee to Vote on Bipartisan ‘Genius’ Stablecoin Bill This Week The bill seeks to establish a clear regulatory framework for stablecoins, addressing reserve requirements, audits, and licensing. Vismaya V Go to decrypt.co

Utah Legislature Passes Blockchain Bill, Drops Bitcoin Reserve Provision The removed part would have let Utah’s treasurer invest state funds in digital assets, possibly creating a state-run Bitcoin reserve. Sebastian Sinclair Go to decrypt.co

Five Key Moves in March the White House Has Made for Crypto Last week, Trump hosted crypto leaders at the White House and unveiled a Bitcoin-first strategy, vowing to “never sell.” Here’s the latest. Vince Dioquino Go to decrypt.co

Bitcoin Reserve and Digital Asset Stockpile: What’s the Difference? President Trump signed an executive order calling for the U.S. to establish two stashes of cryptocurrencies. Here’s how they compare. Liz Napolitano Go to decrypt.co

Kraken Plots Public Offering After SEC Agrees to Drop Lawsuit: Bloomberg Crypto exchange Kraken is preparing to go public next year after previous legal setbacks, according to a report. Jason Nelson Go to decrypt.co

Aide to Former Georgian PM Flees Country Amid Bitcoin Embezzlement Case Venture capitalist George Bachiashvili is on trial for allegedly embezzling investment profits from former Georgian PM Bidzina Ivanishvili. Simon Chandler Go to decrypt.co

Trump Plans to ‘Rescind and Amend’ IRS Crypto Tax Rules, Sign Stablecoin Bill By August President Donald Trump detailed how the U.S. plans to assert crypto leadership leadership during a first-ever White House crypto summit. André Beganski Go to decrypt.co

President Trump Signs Executive Order to Establish Bitcoin Reserve, Crypto Stockpile The order also seeks to provide a “full audit” of the U.S. Goverment’s digital asset holdings which is estimated to possess 200,000 bitcoin. Sebastian Sinclair,Jason Nelson Go to decrypt.co

FBI Puts $10M Bounty on Ex-Olympian Who Allegedly Laundered Drug Money With Tether If convicted, former Olympian Ryan Wedding faces life in prison for allegedly running a transnational drug syndicate that leveraged USDT. Vismaya V Go to decrypt.co

New Hampshire Bitcoin Reserve Bill Passes House Committee in Landslide Vote New Hampshire’s Bitcoin reserve bill advances, joining other states like Utah, Texas, and Arizona in exploring crypto for state finances. Vismaya V Go to decrypt.co

US Authorities Are Releasing Seized Bitcoin Mining Hardware: Reuters Seized crypto mining hardware produced by Chinese manufacturers are being released, even while more devices remain in U.S. custody. Vince Dioquino Go to decrypt.co

Trump’s Crypto Summit: What Is It, Who’s Going, and Why the ‘Crypto Council’ Fell Apart Everything you need to know about the White House crypto summit on Friday and how we got here. Sander Lutz Go to decrypt.co

Bukele Dismisses IMF Terms, Vows El Salvador’s Bitcoin Strategy ‘Won’t Stop’ El Salvador has compliance reviews slated in June and September, with new rules to follow. If it fails, the country risks its loan package. Vince Dioquino Go to decrypt.co

Former Girlfriend of LA ‘Godfather’ Agrees to Plead Guilty Over $2.6M Tax Fraud Au pleaded guilty to tax fraud for helping her ex-boyfriend launder illicit funds and faces up to 3 years in prison for her role. Vismaya V Go to decrypt.co

SEC’s Crypto Task Force Assembles Mix of Agency Veterans, Industry Experts Though the SEC hasn’t detailed initiatives, the Task Force’s composition signals focus on blending securities law and crypto frameworks. Sebastian Sinclair Go to decrypt.co

Grayscale Pursues Sixth Altcoin ETF as Nasdaq Seeks to List Hedera Fund Approving multiple smaller assets for Grayscale’s ETFs could help pave the way for an index ETF, a source told Decrypt. Vismaya V Go to decrypt.co

US Court Dismisses SEC Case Against Richard Heart, Hex The SEC failed to establish jurisdiction over Finland-based Richard Heart despite allegations from the agency of manipulating transactions. Vince Dioquino Go to decrypt.co

Ethereum’s Joe Lubin Says ‘Acceleration Is Definitely On’ After SEC Reversal Consensys founder and CEO Joe Lubin says he’s increasingly optimistic as the SEC shifts from attacks to collaboration with crypto builders. Jason Nelson Go to decrypt.co

Was FTX Gary Gensler’s Fault? Unclear Laws Created a ‘Haven for Bad Actors’, Says Hester Peirce The head of the SEC’s new crypto task force said Friday that the regulator’s previous leadership harmed the American public and emboldened bad actors. Sander Lutz Go to decrypt.co

FBI Links North Korea to $1.4 Billion Bybit Crypto Heist The FBI, while late to the party, has confirmed the $1.4 billion theft of Ethereum from a Bybit cold wallet originated from North Korea. Vince Dioquino Go to decrypt.co

US Lawmakers Delay Timeline for Crypto Legislation During a Wednesday meeting, lawmakers and industry experts expressed less urgency to speed-run new crypto reforms. Liz Napolitano Go to decrypt.co

SEC Softens Crypto Stance as Justin Sun Eyes Settlement, Gemini Cleared of Probe The SEC is retreating from cases against Tron’s Justin Sun and crypto exchange Gemini, signaling a softer stance on the industry. Vince Dioquino Go to decrypt.co

Illinois Senator Proposes Bill to Regulate Crypto ATMs Nationwide The bill would limit crypto ATM transactions for new users, mandate fraud alerts, and ensure refunds for victims reporting fraud. Vismaya V Go to decrypt.co

SEC Acknowledges Grayscale’s Revised Staking Proposal for its Ethereum ETF The NYSE Arca filing details how the SEC could allow Grayscale’s Ethereum funds to earn staking rewards while maintaining custody safeguards. Vince Dioquino Go to decrypt.co

South Dakota Follows Montana’s Lead, Throws Water on Bitcoin Reserve Plans While South Dakota lawmakers rejected the bill citing volatility concerns, Rep Logan Manhart plans to push for its revival next year. Vismaya V Go to decrypt.co

Montana Joins Growing List of US States Knocking Back Bitcoin Reserve Bills Montana joins North Dakota, Wyoming, and Pennsylvania in halting proposals to include Bitcoin in state reserves. Vismaya V Go to decrypt.co

North Korea’s Lazarus Group Behind Bybit’s $1.4 Billion Ethereum Hack: Arkham On-chain sleuthing linked Friday’s $1.4 billion hack of crypto exchange Bybit to North Korea’s Lazarus Group, Arkham Intelligence said. Andrew Hayward,Sander Lutz Go to decrypt.co