OpenSea Faces Lawsuit For Failing To Ensure Its NFT Marketplace’s Security

An NFT collector, having unintentionally traded an NFT of Bored Ape Yacht Club for $26 because of a listing issue on the OpenSea platform, has submitted a legal filing for $1M to meet the damages. OpenSea is undergoing the lawsuit as it has allegedly been unsuccessful in guaranteeing the security of the NFT market thereof. … Read more

US SEC Received 200 Letters On Grayscale’s BTC ETF

Many people are taking interest in the decision of the US-based SEC (Securities and Exchange Commission) regarding the application of Grayscale for a spot ETF of Bitcoin, as per Bloomberg. The US-based SEC asserts having received nearly 200 letters inquiring whether the organization will approve the respective application. As per the regulator, a majority of … Read more

Meta Plans To Trademark Crypto In Collaboration With Brazilian Authorities

Meta is presently expecting a conclusive green light on the behalf of the regulators over its application registration contract with the Brazillian authorities to permit them to enter and take advance steps in the unique promising market. In the later period of January, a registration application was submitted by Meta and the company is now … Read more

Israel’s Capital Market Asks Binance To Clarify Its Operations In the Country

The Capital Market Authority of Israel has requested Binance to elucidate its operations across the country. Subsequently, the exchange has terminated its marketing operations for the Israel-based consumers along with excluding support for Hebrew language after witnessing the intervention on the behalf of the country’s Capital Market Authority. Binance entangled in certification problem The largest … Read more

Israeli Defense Minister Orders Seizure Of 30 Crypto Wallets

Israel continues its battle against the illicit use of cryptos, specifically cryptos, to finance terrorism. Hence, it is no wonder that defense minister, Benny Gantz, has ordered that 12 bank accounts and 35 crypto wallets be seized as they are linked with terrorist activities. The Shamlach Family And Terrorism Funding Some of the crypto wallets … Read more

V Global’s Seven Executives Found Guilty In a Major Cryptocurrency Scam

V Global’s seven executives, who were allegedly involved in misappropriating up to US$1.9B, were declared guilty on the previous Friday, and Lee Byung-Jul (the CEO of the company) got sentenced to imprisonment of 22 years. The remaining six executives, who were the alleged collaborators in the crypto scam, were sentenced to 14 years, according to … Read more

UK Authorities Continue Crackdown On Cryptocurrencies

The UK government has announced new crypto measures to combat incessant fraudulent activities taking place within the sector.  New Policies Regarding Judgments On Crypto-Related Cases Sir Geoffrey Vos, who heads England and Wales’ court system revealed that the civil justice council (CJC) is making moves to upgrade its policies so that courts can easily track … Read more

Russia Recognizes Cryptocurrency As a Form of Currency

The Russian authorities as well as the Central Bank of the country have farmed a contract to create legislation or make some modifications into the existing laws to categorize crypto under the types of currency, as per a statement given on Tuesday. That respective contract is a reaction to the prohibition over crypto that was … Read more

Ripple Lawyers Confident Of Win Over The SEC 

The US-SEC filed a response to Ripple’s 2-week old sur-reply through the fair notice defense on Wednesday. The financial watchdog wants the court to rule in its favor and strike out Ripple’s fair notice defense. Ripple’s fair notice defense alleged that the SEC intentionally failed to disclose to Ripple that XRP could be considered security … Read more

Chainalysis Warns Users About Murky Trading Activities In the Cryptocurrency Space

The latest data from Chainalysis – a crypto intelligence company – discloses that artificial inflation may be occurring in the value of NFTs (non-fungible tokens) due to wash-trading. In an exclusive report, even though a majority of the 262 wash traders detected by them were witnessing losses, a profit of up to $8.5M had also … Read more

ECB Villeroy Calls For Faster Crypto Regulations as Crypto Rallies

A member of the governing council of the European Central Bank (ECB) has expressed his desire to see the crypto industry get more regulations from governments all over the world. Councilmember, Villeroy de Galhau, made this call recently as reported on Twitter by user Walter Bloomberg (@DeItaone) on Thursday, October 7, 2021. Villeroy is popular … Read more

House Committee Has Finally Approved Cryptocurrency Tax Provisions

The tax portion of the amended reconciliation package of about $3.5 trillion has been approved by the House-of-Representatives-committee, which is committed to ensuring the revenue. On Wednesday, voting has been cast by the “Ways-and-Means-Committee” for the “Budget-Committee” to transmit the draft. The voting resulted in a 24-19 ratio, and the only member who broke party … Read more

Opposition to Nomination of Saule Omarova as Head of OCC Gathers Momentum

President of the United States, Joe Biden, is reportedly planning to nominate Saule Omarova for the position of the Office of the Comptroller of the Currency (OCC). Saule Omarova is known as a strong critic of cryptocurrency and the banking system. Hence, her nomination has raised concerns and resistance is already forming against the news … Read more

No Blanket Ban on Crypto – Indonesian Regulatory Authorities

In line with existing laws, regulatory bodies in Indonesia have pledged not to impose a blanket ban on cryptocurrencies. According to Minister of Trade in Indonesia, Muhammad Luthfi, the Indonesian government will not be outlawing crypto assets. However, purchases with cryptocurrencies will not be accepted in the country. Minister Luthfi revealed that the government is … Read more