The Art of Making CryptoCurrency
A Florida woman, Maria Vaca, has sued Google in a California state court, alleging that a cryptocurrency wallet app she downloaded from the Google Play Store was malicious and resulted in the theft of $5 million in cryptocurrency. Vaca claims the app, Yobit Pro, exploited Google’s marketing that portrayed the Play Store as a secure […] Source link
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Ripple’s chief executive believes the U.S. Securities and Exchange Commission (SEC) will be unsuccessful in classifying ether as a security, similar to how the agency lost its legal battle, for the most part, against XRP. Noting that the SEC has been “losing badly in courts” against crypto firms, the Ripple CEO stated: “At what point […] Source link
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A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap. In an Aug. 30 dismissal order of the case brought by Uniswap users who claimed they lost money due to scam tokens on the exchange — Judge Katherine Polk Failla wrote ETH and Bitcoin (BTC) were “crypto commodities.” The distinction was also part of her reasoning for dismissing the case — Failla said she wasn’t convinced by an argument that Uniswap’s token sales were subject…
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United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June. In an Aug. 4 filing with U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, claiming the SEC had “violated due process, abused its discretion, and abandoned its own earlier interpretations of the securities laws” in asserting certain regulatory authority over the crypto exchange. The legal team cited precedent from the SEC v. Ripple case, in which a…
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The United States’ Securities and Exchange Commission (SEC) is reportedly taking action against Celsius Network, one of the cryptocurrency lending firms that collapsed in 2022. The securities regulator filed a lawsuit against Celsius’ former CEO Alex Mashinsky on July 13, according to a report by Bloomberg. Details of the complaint weren’t immediately available, the report said. The same report suggested that Mashinsky was also arrested on Thursday morning, following a probe into the company’s collapse. The report cited anonymous sources familiar with the matter. The action comes shortly after the…
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The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance could damage the crypto exchange’s business opportunities in South Korea. A report published in a South Korean daily suggests that the Financial Service Committee (FSC) — the country’s financial watchdog — is reviewing Binance’s acquisition of local crypto trading platform Gopax. Binance acquired a majority stake in Gopax in February, intending to reenter the South Korean crypto market after a two-year hiatus. The FSC has reportedly suspended Gopax’s executive change report filed on March 7, citing the recent SEC lawsuit. The…
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