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In a court filing, Circle argued that assets that are pegged to the U.S. dollar, like the Binance USD (BUSD) or its own stablecoin USDC, are not securities, partly because those who purchase the assets are not expecting any profit from acquiring them. According to Circle, payment stablecoins do not
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“Payment stablecoins, on their own, do not have the essential features of an investment contract,” meaning they fall outside of SEC jurisdiction, Circle’s filing said. “Decades of case law support the view that an asset sale — decoupled from any post-sale promises or obligations by the seller — is not
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The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has vowed to bring justice to people who fell victim to the JPEX crypto exchange fraud, local media has reported. In a press conference on Wednesday, Sept. 27, the security chief’s office said police are actively looking for the key
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A federal judge in California denied the motion to dismiss the case against Compound Labs and its associated entities, after allegations of violating financial regulations. This means owners of the COMP token can move ahead with their lawsuit. Partner identification The lawsuit claims those who control the decentralized organization known as Compound are
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The Singapore Police Force is planning to take further action in response to the largest money laundering case in the country. Currently, cryptocurrencies valued at $26 million have already been seized in relation to the case. Major seizures It was reported in August that Singaporean authorities apprehended 10 foreign individuals, between the ages of 31
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Hong Kong regulators are looking to tighten the noose around the crypto market after the arrest of six individuals following allegations of fraud around an unlicensed crypto exchange called JPEX.John Lee Ka-chiu, the chief executive of Hong Kong, told reporters on Sept. 19 that the government would increase its efforts
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The legal fallout from the collapse of crypto exchange FTX continues, with some high-profile names opting to settle while others are dismissed entirely. Crypto influencer Ben “BitBoy” Armstrong is no longer facing a lawsuit related to his promotion of FTX. Lawyers recently filed notice that they are voluntarily dismissing claims against
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The legal struggle between crypto exchange Binance and the United States Securities Exchange Commission (SEC) continues. The SEC has accused Binance.US of noncooperation in the ongoing investigation. The agency points out that Binance.US’s holding company, BAM, has produced only 220 documents during the discovery process. Many of those materials “consist
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Other celebrities who have been sued for promoting FTX include the likes of Shaquille O’Neal, Tom Brady, Gisele Bundchen, and Steph Curry. Lawyers leading the case against the celebrities said in the filing that they are engaged in confidential discussions, and there is a “likelihood that other FTX settlements will
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Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance
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