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New York district judge orders crypto lender Genesis to produce documents related to the collapse of algorithmic stablecoin TerraUSD. Genesis, a renowned crypto lending firm, has been commanded by a New York district judge to adhere to a subpoena. This decision was taken after the firm allegedly did not provide certain
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A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs.In an Oct. 13 filing in U.S. District Court the Southern District of New York, Judge Jed Rakoff said Genesis would have 5 days — likely
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Rakoff is also grappling with how to extract information from Kwon in connection with the case. Kwon’s lawyers have argued he can’t come to the U.S. as he is serving a jail sentence in Montenegro for possession of a fake passport, but “the laws of physics do not make it
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The firm will stop accepting new users starting Monday after U.K. regulator FCA last week restricted Binance's local partner from approving crypto ads. Source
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BOND Token Soars After BarnBridge Votes to ‘Comply’ With SEC Source
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BarnBridge decentralized autonomous organization’s (DAO) members have conducted their voting on how to react to the United States Securities Exchange Commission’s (SEC) potential demands. The voting ended on Oct. 12 with an unanimous decision to comply with the SEC’s potential demands and pay fines if necessary. Tyler Ward and Troy Murray
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Major global cryptocurrency exchanges like Binance and OKX have announced that they're working to comply with new financial promotion regulations in the United Kingdom.The Financial Conduct Authority (FCA) of the U.K. enacted the country’s new Financial Promotions (FinProm) Regime on Oct. 8 for cryptocurrency firms, aiming to ensure fair, clean
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The FCA announced in June that it would be classifying crypto as “restricted mass market investments”, which would require all crypto advertising and marketing media to contain clear warnings concerning the risks associated with crypto investments. Cryptocurrency exchange Luno will on 6 October temporarily halt some of its services in the
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Bans on aggressive marketing were set to take effect in October, but companies can apply to delay some aspects until January. Original Source
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Google plans to update some of its service policies to comply with the European Union’s Digital Services Act (DSA), according to an Aug. 24 blog post. The Big Tech giant said it had made “significant investments” in various areas to comply with the DSA’s specific requirements. It plans to expand its
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