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Crypto Industry Groups Sue SEC Over Expanded ‘Dealer’ Definition
The U.S. Securities and Exchange Commission (SEC) is now the target of a lawsuit brought by the Texas Crypto Freedom Alliance and the Blockchain Association. The lawsuit alleges that the agency's recently expanded definition of a "dealer" has overreached and could potentially capture individuals who are merely trading in cryptocurrencies. Key points: The SEC adopted......
Crypto.com Faces Money Laundering Inspection, Delay South Korean Launch
The Crypto.com exchange is facing an urgent on-site inspection by South Korean financial authorities regarding potential money laundering activities. According to a report by local news outlet Segye, the Financial Intelligence Unit (FIU) initiated the inspection on April 23rd, just six days before the planned launch of Crypto.com's domestic service in the country. Key points:......
🥛 Crypto’s trending tokens… 👀
Today’s edition is brought to you by Cross Finance – an innovative digital ecosystem that effortlessly blends banking and blockchain realms via its L1 blockchain, dApps, and payment card.Dive into the revolution with us on CoinList's testnet!*GM. This is Milk Road, the daily newsletter that gives you the best of crypto in 5 minutes or......
Venezuela State Oil Company Turns to Tether (USDT) Amid U.S. Sanctions
Venezuela's state-run oil company, PDVSA, is ramping up its use of digital currencies, particularly Tether (USDT), for crude and fuel exports. This comes after the United States reimposed oil sanctions on the country. According to Reuters, the move is aimed at reducing the risk of sale proceeds being frozen in foreign bank accounts due to......
Ripple Opposes SEC’s $2B Fine Request, Argues for $10M Penalty
Ripple has filed its opposition to the Securities and Exchange Commission's (SEC) Motion for Remedies and Entry of Final Judgment in the ongoing legal battle over the sale of XRP tokens. The move comes after the SEC proposed that Ripple should pay nearly $2 billion in fines for selling XRP to institutional investors. However, Ripple......
Two SEC Lawyers Exit After Judge Sanctions Agency in DEBT Box Case
According to a recent report by Bloomberg, two Securities and Exchange Commission (SEC) lawyers have resigned following a federal judge's rebuke of the agency for its handling of a crypto case against DEBT Box. According to sources familiar with the matter, Michael Welsh and Joseph Watkins resigned after an SEC official threatened to fire them......
Sam Bankman-Fried Plans To Strike A Deal with FTX Customers
In a recent development, Sam Bankman-Fried, the convicted founder of the collapsed cryptocurrency exchange FTX, has reached a settlement agreement with a group of FTX customers who had filed a class action lawsuit against him. The agreement was filed in a Miami court on Friday and is yet to be approved by a judge. If......
🥛 3 things to look out for this week 👀
Today’s edition is brought to you by ARCrypto - the #1 education platform for decentralized finance.Learn everything you need to know about DeFi and become part of a community with an app that is quite literally from another galaxy.GM. This is Milk Road, the daily newsletter that gives you the “oohhs” and “aahhs” of crypto.......
Crypto Investment Products Experience $206,000,000 Outflows
Crypto investment products have witnessed outflows for the second week in a row. According to the data, a total of $206 million in capital exited the market. CoinShares reported that this trend coincides with a slight dip in trading volumes for exchange-traded products (ETPs), which recorded $18 billion in transactions. The data suggests that investor......
Thailand SEC to Block Access to Unauthorized Crypto Service Providers
The Securities and Exchange Commission (SEC) of Thailand has announced its collaboration with the Ministry of Digital Economy and Society (DE) and other related agencies. The collaboration is part of the plan to block unauthorized access to digital asset service providers' platforms. This move aims to increase the efficiency of law enforcement and prevent criminals......
