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Paxos Trust Company-issued stablecoin Binance USD (BUSD) being in the sights of United States regulators sparked various reactions from the crypto community.On Feb. 13, the United States Securities and Exchange Commission (SEC) issued a wells notice to Paxos, alleging that BUSD is unregistered security. On the same day, the New
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French luxury brand Hermes has won a lawsuit against an artist who depicted its famous Birkin bags in a non-fungible token (NFT) collection. The artist argued that NFTs should be covered under the U.S. Constitution’s First Amendment but the jury disagreed. Hermes Wins Lawsuit Against ‘Metabirkins’ NFT Creator French luxury design house
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David Leichtman, Leichtman Law managing partner, told CryptoX TV on Tuesday that the case wasn’t necessarily about Mason Rothschild’s use of the protected Birkin brand. Rather, it was about whether he intended to mislead consumers into believing the MetaBirkin NFTs were associated with Hermès’ flagship product. Source
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Summary: Gary Gensler’s SEC rejected Grayscale’s Bitcoin exchange-traded fund application citing fraud and market manipulation concerns.The digital asset manager sought regulatory permission to switch its BTC spot trust index to an ETF, changing the product’s structure and reducing a huge discount on the asset.CEO Michael Sonnenshein promised his company would
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The creator of the nonfungible token collection Bored Ape Yacht Club has settled a lawsuit with one of the developers behind a copycat collection known as RR/BAYC. On Feb. 6, Yuga Labs settled a lawsuit that involved Thomas Lehman, the developer of websites and a smart contract that sold “misleading” BAYC
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“I am happy to have resolved the Yuga Labs, Inc. v. Lehman trademark lawsuit in the [U.S. District Court] Northern District of New York,” Lehman said in a statement provided to CoinDesk. “It was never my intention to harm Yuga Labs’ brand, and I reject all disparaging statements made about
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A U.S. district judge has dismissed a lawsuit against Coinbase and its CEO Brian Armstrong filed by customers of the crypto exchange. The lawsuit alleges that Coinbase sold 79 crypto tokens that are unregistered securities. Customer Lawsuit Against Coinbase Dismissed A proposed class action lawsuit filed in Manhattan by customers of cryptocurrency
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CryptoZoo and Logan Paul have been named as defendants in a newly filed class-action lawsuit, which alleges they stole millions of dollars worth of purchaser's cryptocurrency via a "fraudulent venture."In a court filing on Feb. 2 in the District Court of the Western District of Texas, plaintiff Don Holland alleged
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The suit also accused Coinbase of failing to register as a broker dealer. Source
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Beleaguered crypto trading firm Alameda recently filed a lawsuit against defunct crypto broker Voyager over repaid loans. Defunct crypto trading firm and FTX sister Alameda Research has hit bankrupt crypto broker Voyager Digital with a $446 million lawsuit. As it stands, Alameda seeks to recover the mammoth sum in repaid loans to the
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