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A United States federal court has ordered Digitex CEO Adam Todd to pay roughly $16 million in disgorgement and penalties related to a Commodity Futures Trading Commission (CFTC) case.In a June 12 announcement, the CFTC said a judge in the U.S. District Court for the Southern District of Florida issued
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“Like all securities, an economic arrangement can qualify as an investment contract only if it involves an ongoing business enterprise whose management owes enforceable obligations to investors. Absent such obligations, the contract is just an asset sale,” Coinbase argued. “Because no such obligations are carried in the transactions over Coinbase’s
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Grayscale Investments has called out the SEC for approving Bitcoin futures ETFs over spot Bitcoin ETFsThe DCG subsidiary recently penned a letter to a Columbia court to highlight the SEC’s unequal treatment of BTC-based ETFs. Grayscale’s letter came more than a year after it sued the SEC for denying its spot
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A Canadian judge has ruled that the widely used thumbs-up emoji can affirm that a person is legally entering into a contract. According to a report from the New York Times, judge T.J. Keene said the decision mirrors a "new reality in Canadian society" as more people use emojis to express
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The San Francisco Superior Court has reportedly taken control of Fei Protocol’s Discord server in a class action settlement. Fei Protocol is a decentralized stablecoin project whose native algorithmic stablecoin, FEI, is backed by diverse coins,
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Cryptocurrency exchange Crypto.com has petitioned a Florida court to confirm a judgment in its favor through arbitration after the platform mistakenly deposited $50,000 into a user’s account.According to the July 6 court filing, Crypto.com “erroneously deposited” $50,000 into James Deutero McJunkins’ account in June 2022, despite the user seemingly not
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When the leaders of the American Revolution signed the Declaration of Independence on July 4, 1776, they had no guarantee of victory. The battle for independence was underway, and their prospects were uncertain. Despite occasional victories, these audacious freedom fighters were grossly outnumbered and had difficulty retaining volunteer soldiers. Their
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto exchange Kraken has been asked by the Internal Revenue Service (IRS) through a federal court order to provide account and transactional information. According to the June 30 court filing, the IRS needs the information on Kraken
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A federal court ordered crypto exchange Kraken to turn over account and transaction information to the Internal Revenue Service (IRS), which said it needed that information to see if any of the exchange's users had underreported their taxes.As per the order issued on Friday, June 30, Kraken is required to
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According to Friday's order, Kraken must turn over information for users who transacted with more than $20,000 over the course of a calendar year for that year, including the user's name (and any pseudonyms), birthdate, taxpayer identification number, address, phone number, email address and a host of other documents. Original Source
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