Legal turmoil in the US cryptocurrency market. What’s going on?


Cryptocurrency Market Under the Scrutiny of Courts and Regulatory Institutions in the United States

Recently, the cryptocurrency market in the United States has seen many significant events and court decisions that are impacting the operations of companies and investors in the cryptocurrency sector.

The Case of Coinbase vs. SEC and Terraform Labs

One of the key legal battles is the lawsuit between Coinbase and the SEC regarding the classification of digital asset transactions as investment contract securities. Furthermore, the District Court of New York issued a ruling stating that Terraform Labs sold unregistered securities.

Disputes between Binance and SEC, as well as FTX

Legal disputes also arise in the market, such as Binance filing for the dismissal of SEC claims or FTX deciding against restoring the operations of a closed cryptocurrency exchange in favor of focusing on customer repayments.

Money Laundering Allegations

The United States Department of Justice has charged the founder of the cryptocurrency exchange BTC-e and three individuals with SIM-Swap fraud involving 400 million dollars from FTX accounts.

Internationally Significant Events in the Cryptocurrency Market

Regulations and Controversies Worldwide

Significant changes are not limited to the United States but are also emerging on the international stage. For example, an investigation into money laundering allegations against Nexo in Bulgaria concluded due to lack of evidence.

Regulatory Actions in Different Countries

In Hong Kong, regulations enabling ETF applications for cryptocurrencies are being considered, while Nigeria has lifted restrictions on bank accounts for cryptocurrency firms.

Events Related to Companies in the Cryptocurrency Market

Investments and Company Restructurings

There is also news about investments and personnel changes in cryptocurrency companies, such as Arkon Energy raising 110 million dollars to increase Bitcoin mining capacity in the USA or Binance.US hiring a new compliance director.

Company Decisions and Actions

Digital Currency Group repaid over 1 billion dollars in debt to its creditors, and Coinbase is planning to offer cryptocurrency-related derivatives in the European Union markets.

Such a wide range of events in the cryptocurrency market, both at the national and international levels, illustrates the dynamics and volatility of this sector, which continues to be a source of constant changes and regulatory disputes.