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Binance to Shut Down in Malaysia, Scales Down Derivatives in Europe
- The Malaysian Securities Commission has issued a notice ordering Binance to stop offering its services in the country.
- The exchange also revealed that its clients in Germany, Italy, and the Netherlands will no longer be able to open new futures and derivatives accounts.
Tether Executives Investigated for Bank Fraud
- "People with direct knowledge of the matter" told Bloomberg that Tether executives have received letters informing them of the investigation.
- The sources also revealed the Department of Justice was looking into a "conduct that occurred years ago, when Tether was in its more nascent stages".
3 U.S. States Say BlockFi’s Interest-Bearing Accounts Violate Securities Laws
- New Jersey, Alabama, and Texas have increased regulatory pressure on BlockFi.
- The states claim BlockFi's interest Accounts (BIAs) are unregistered securities and violate state laws.
BlockFi Received Cease and Desist in New Jersey
- BlockFi has until the 22 July to comply with the order, and stop onboarding new BlockFi Interest Account (BIA) clients.
- The firm's CEO disagreed with the decision, and said BlockFi was "engaged in an ongoing dialogue with regulators to help them understand our products".
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Korean Authorities Investigate $1.5B of Illicit Crypto Transactions
- South Korean authorities have investigated 33 people, who were involved in illegal overseas crypto transactions worth $1.48 billion.
- 15 have already been fined, 14 referred to state prosecutors, and 4 remain under investigation.
Former Cryptopia Employee Pleads Guilty to Stealing $175,000 Worth of Crypto
- The man admitted to stealing around $175,000 worth of BTC and other cryptocurrencies from Cryptopia's old deposit wallets.
- The funds were subsequently returned and the theft wasn't connected to the 2019 hack, court documents showed.
LawsuitsSign at the U.S. Securities and Exchange Commission in Washington, DC, 17 July 2015. Shutterstock
SEC Accuses LBRY of Selling Unregistered Securities
- The SEC has requested a permanent injunction against LBRY, prohibiting it from further selling its LBC token.
- The decentralized content publishing platform has echoed Ripple's statement that these lawsuits were a "tremendous threat" to the entire crypto industry.
Florida Teen Pleads Guilty to Twitter Bitcoin Scam
- The teenager tricked Twitter employees into giving him access to the customer service portal.
- Alongside two accomplices, the teen defrauded people out of $118,000 worth of BTC.
BitMEX Executive Surrenders to U.S. Authorities, Pleads Not Guilty
- Ben Delo has pleaded not guilty to charges of violating U.S. anti-money laundering laws, and was granted a $20 million bail.
- Delo, Arthur Hayes and Samuel Reed have all agreed to cooperate with U.S. authorities, while Gregory Dwyer continues to remain at large.
Bitfinex, Tether to Cease Operations in NY, Pay $18.5M Fine
- After settling with the Office of the New York Attorney General, Bitfinex and Tether were ordered to introduce transparency measures.
- Alongside a hefty fine, the companies will have to ensure the OAG that their corporate and client accounts remain segregated.
Mt. Gox Creditors Could Soon Claim 90% of Remaining Bitcoins
- A new deal between Mt. Gox's trustee and Fortress will enable creditors to claim 90% of the exchange's remaining Bitcoin.
- If the majority of creditors agree, they would be reimbursed directly from the Mt. Gox trust.
Visa & Plaid’s Merger Blocked by DoJ Antitrust Suit
- The U.S. DoJ has alleged that Visa was using the acquisition to snuff out its competition.
- The planned $5.3 billion acquisition was canceled almost one year after it was announced.
ExchangesBrad Garlinghouse, CEO of Ripple, speaking at Fortune Brainstorm TECH 2013 in Aspen, United States on July 23, 2013. Stuart Isett/Fortune Brainstorm TECH
Damage Done: Coinbase is Delisting XRP
- The avalanche of XRP delistings seems to have arrived, as Coinbase has just announced that the asset will not be tradeable on their platform after January 19.
- The larger cryptocurrency community is torn on the issue, while XRP has lost two thirds of its price within ten days.
SEC Sues Ripple Over $1.3B Unregistered Securities Offering
- The regulator has accused Ripple of raising more than $1.3 billion in an "unregistered, ongoing digital asset securities offering".
- The question if XRP is a security has been up in the air for years now, and we might soon get an answer.