Cryptonews’ Post

Blocking #Binance’s website while letting local #crypto exchanges offer similar products is invidious discrimination, not against Binance, but against Philippine-based users who don’t entirely use the Binance platform for alleged securities-related transactions. While the Philippine SEC for some reason refuses to issue a cease and desist order against Binance (assuming it is true that Binance violated Philippine securities law), it has conspired with the NTC to conjure a blocking access order, which in substance and in practice is a cease and desist order against Philippine residents who are using the platform. The SEC’s press release last 29 November 2023 betrays the agency’s underlying agenda to this effect where the #SEC said that it would request the NTC to block access to Binance in the Philippines to “prohibit users from accessing the website and its applications while inside the country.” Excuse me? Where can we find in the law this authority of the SEC to regulate or worse prohibit activities of internet users based solely on the agency’s opinion that these users are transacting with an unregistered platform? #CryptoPH https://lnkd.in/geZD2jWM.

𝐓𝐡𝐞 𝐔𝐒 𝐩𝐥𝐚𝐲𝐬 𝐭𝐡𝐞 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐓𝐨𝐩 𝐂𝐨𝐩, 𝐄𝐬𝐭𝐚𝐛𝐥𝐢𝐬𝐡𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐫𝐲𝐩𝐭𝐨 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 While many regions have passed laws with potentially tough penalties, the U.S. stands out for taking some of the harshest legal actions against major players in the crypto industry. Read More: https://bityl.co/NKZL #globalcrypto #TOPCOP #Cryptonews #newsupdate #tradenews #globalnews #ciolook #businessnews

🚨 Legal Showdown Alert! 🚨 #Binance gears up to face the #SEC in a landmark hearing on #Monday January 22. The world's largest #exchange defends against #allegations, including #tradingmisconduct and facilitating #unregisteredsecurities. Will this #courtroom clash set the tone for the SEC's authority in the #cryptospace? Stay tuned for updates on this pivotal case! #CryptoNews #CryptoRegulation #LegalShowdown #BlockchainLaw #BlockchainNews https://lnkd.in/dQfBSE9q

The English and Singaporean High Courts have recently handed down judgments that award damages for breach of contract in crypto cases. In such claims, damages are generally meant to put the claimant in the same position as if the contract had been performed. The court will typically assess damages by reference to the date on which the contract was breached. In both judgments, the courts were alive to the particular risk that taking a traditional approach to assessing damages in crypto cases could result in injustices (given the volatile nature of some crypto). Reassuringly, both courts demonstrated that they will ensure that injured parties are awarded fair compensation. More here: https://lnkd.in/g6ThFifZ CMS UK co-authors: Kushal Gandhi, Sylvia Moschona CMS Singapore co-authors: Lakshanthi Fernando, Wei Ming Tan, Os Agarwal #CMSLaw #cryptodisputes

How crypto firms are taking advantage of MiCA's patchy roll-out - DL News: Stablecoin laws have already gone live, but EU countries are scrambling to comply with the rest of the bloc's new crypto rulebook ahead of ...

ASIC’S Latest Tilt At Crypto Promoters: That Certainly Blocked Some Earning! by Venn King from KHQ Lawyers The Block Earner case (ASIC v Web3 Ventures Pty Ltd [2024] FCA 64) might not have been a sweeping victory for ASIC. However, the Federal Court’s judgment confirms that crypto assets can be captured under existing financial services laws. Operators in the crypto industry should take note and utilise this opportunity to review their existing (and planned) operations, including their product/service business models, to ensure compliance with the existing legislative framework. This is likely to be only the beginning of ASIC’s crypto asset offensive. https://lnkd.in/dHhcQvp8

SEC Investigates Crypto Backers for Violating Investor Protection Laws in Digital Token Offering #B.Riley #cryptobackers #cryptocurrencyindustry #digitaltokenoffering #initialpublicofferings #investorprotection #Nomura #Regulations #SECinvestigation #securitieslawviolation #unregisteredsecurities

Revealed: The Interesting Connections of Sanctioned Russian Crypto Exchange Garantex! An #investigation by Eesti Ekspress and the ICIJ has uncovered troubling connections between Garantex, a #Moscow-based #crypto exchange, and various criminal and government entities, raising significant concerns about the potential misuse of the crypto sector by #sanctioned and #illicit actors. Following the mysterious death of a #Garantex founding shareholder in 2020, the investigation reveals the company’s links to a convicted gang leader and the Kremlin-controlled oil firm #Rosneft, signaling deep entanglements with the Russian government and criminal networks.

#Ripple confronts #SEC legal challenges amid the #crypto regulatory landscape, stressing the symbiotic relationship between regulatory clarity and DeFi evolution. A recent report by Ripple explores the need for a compliance-first approach to drive the $601 billion #DeFi industry by 2032. Despite hurdles, Ripple seeks expansion and clarity, organizing conferences to address global regulatory complexities. Read full story: https://lnkd.in/gfX_XEvQ