SEC’s Case Against Kraken Will Proceed to Trial, California Judge Rules
The U.S. Securities and Exchange Commission’s (SEC) lawsuit against Kraken will proceed to trial, a California judge ruled Friday.
Regulations
‘My Living Nightmare’: Detained Binance Exec’s Wife Begs for His Immediate Release
The wife of Tigran Gambaryan, the American Binance employee detained in Nigeria, released a new video statement on Monday pleading for his immediate release from prison.
Hong Kong Regulator Finds ‘Unsatisfactory Practices’ at Some Crypto Entities Seeking Full License: Report
Hong Kong’s Securities and Futures Commission (SFC) has found “unsatisfactory practices” at “some” of the cryptocurrency exchanges seeking a full license from it after conducting on-site inspections, Bloomberg reported on Thursday citing people familiar with the situation.
Crypto Friendly RFK Jr. Drops White House Hunt, Will Lend Kennedy Name to Trump
Robert Kennedy Jr. has suspended his independent pursuit of the U.S. presidency and encouraged his supporters to instead back former President Donald Trump in battleground states, putting the weight of the Kennedy name behind the GOP candidate.
WazirX to Phase In Indian Rupee Withdrawals Starting Aug. 26
Users of the Indian crypto exchange will be able to take out up to 66% of their rupee funds in two phases following a suspension instituted after last month’s $230 million dollar hack.
Australia’s Securities Regulator Wins Case Against Kraken’s Local Operator
The Federal Court of Australia ruled on Friday that cryptocurrency exchange Kraken’s operator in Australia, Bit Trade Pty Ltd, “contravened” with a section of the nation’s Corporations Act.
R.I.P. Unhosted Wallet Rule
In 2020, the Financial Crimes Enforcement Network proposed imposing know-your-customer requirements on unhosted wallets, drawing immense backlash from the crypto industry. This week, the Treasury Department formally withdrew the proposal.
CluCoin Founder Pleads Guilty to Stealing $1.1M of Investor Funds for Online Gambling
The founder of Miami-based crypto project CluCoin has pleaded guilty to stealing over $1 million from investors and spending the money at online casinos.
Crypto Promoter and Failed Politician Michelle Bond Accused of Illegally Taking FTX Cash
Michelle Bond, who once ran a Washington-based crypto advocacy group and had served as a U.S. Securities and Exchange Commission lawyer, was indicted in federal court for taking illegal campaign contributions during her 2022 run for Congress, and court documents detail how a river of cash came through her former FTX executive boyfriend.
OmegaPro Co-Founder Arrested in Turkey on Suspicion of $4B Ponzi Scheme: Reports
The firm said it invested in cryptocurrency and forex, and reportedly collapsed in 2022.