Legal – Page 2 – Bold Players

SEC, Binance face tough questions from judge in landmark crypto case

Court transcripts from SEC v. Binance Holdings, Inc, et. al. have begun to appear, revealing that arguments central to the crypto space are now being actively discussed in U.S. courts. U.S. District Judge Amy Berman Jackson presides over the case between Binance, the world’s largest cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC), which…

Court allows bankrupt crypto exchange Bittrex to resume customer withdrawals

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Prime Trust subsidiary Banq declares bankruptcy

Banq, a subsidiary of crypto custodian Prime Trust, filed for bankruptcy in the U.S. District Court of Nevada on June 13. Banq specializes in payment processing for cryptocurrency businesses. In the bankruptcy filing, the firm listed assets of $17.72 million and liabilities amounting to $5.4 million. The timing of the bankruptcy filing is notable, coming…

Bahamian court orders review of US charges filed after SBF’s extradition

Sam Bankman-Fried (SBF) won a small victory in a Bahamian court on June 13. The court temporarily blocked the Bahamas attorney general from consenting to charges added to SBF’s U.S. indictment after his extradition in December 2022, Bloomberg reported. The U.S. prosecutors added four new charges to the previous eight counts of fraud charges in…

SEC snubs Coinbase’s seven-day rulemaking request but could act by October

The U.S. Securities and Exchange Commission (SEC) stated in a June 13 court filing that it has not yet decided on requests from Coinbase. SEC says it hasn’t decided on rulemaking In July 2022, Coinbase petitioned the SEC to engage in rulemaking for the cryptocurrency industry, seeking clear regulatory guidelines. Later, in April 2023, Coinbase…

Binance.US and SEC told to reach compromise on restraining order

Genesis Trading files updated reorganization plan

Hong Kong seeks fast regulatory action on stablecoins

According to the local news outlet The Standard, Hong Kong is making strides in creating a clear framework for stablecoins pegged to traditional financial assets. The Hong Kong Monetary Authority (HKMA) aims to introduce the proposed comprehensive regulatory framework for stablecoins within 18 months. Stablecoin regulatory progression With Hong Kong’s progressive approach to stablecoin regulations,…

Binance lawyers say SEC’s restraining order will do the damage it aims to prevent

Lawyers for Binance and related firms submitted a court filing on June 12 expressing opposition to a restraining order currently sought by the U.S. Securities Exchange Commission (SEC). Binance objects to the restraining order The SEC filed charges against Binance and related companies on June 5. It then sought a restraining order against Binance.US to…