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The soccer mogul Cristiano Ronaldo is facing a class-action lawsuit from plaintiffs claiming to have suffered financial losses linked to his promotion of Binance. The lawsuit was filed on Nov. 27 in a Florida District Court and accuses Ronaldo of aiding in the sale of unregistered securities in collaboration with Binance. Binance
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Pro-soccer star Cristiano Ronaldo has been hit with a proposed class-action lawsuit from plaintiffs claiming they suffered losses from his promotion of the now-legally embroiled crypto exchange Binance.A Nov. 27 filing to a Florida District Court claimed Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered
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The SEC has brought legal action against Kraken, this time accusing the exchange of mixing user funds, while unlawfully offering securities services. The United States Securities and Exchange Commission (SEC) has announced a lawsuit against San Francisco-based crypto exchange Kraken for allegedly operating an unregistered securities exchange. The SEC’s court complaint is
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"Similarly, Kraken has held at times more than $5 billion worth of its customers’ cash, and it also commingles some of its customers’ cash with some of its own," the suit said. "In fact, Kraken has at times paid operational expenses directly from bank accounts that hold customer cash." Source
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"Unregistered offerings lack the disclosures and accountability that the law demands, and they attract scammers like Kyle Nagy, who use these vulnerabilities to enrich themselves at the expense of others,” said David Hirsch, Chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit (CACU), referring to SafeMoon creator Nagy.
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Now, three new amicus briefs, which allow parties who are interested but not directly affected by the case to aid the court’s reasoning, argue crypto is neither significant nor special, and that the SEC can take on digital assets under existing law. Source
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Taiwan’s Financial Supervisory Commission (FSC) is moving to improve protections for cryptocurrency investors by introducing new rules.The FSC has formulated the key points of regulating the cryptocurrency market in Taiwan, releasing on Sept. 26 a set of industry guidelines for virtual asset service providers (VASP) operating in the country.In the
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Hong Kong's financial regulator, the Securities and Futures Commission (SFC) has vowed to step up its efforts to combat unregulated cryptocurrency trading platforms in its jurisdictionAccording to a Sept. 25 announcement, the SFC said it will publish a list of all licensed, deemed licensed, closing down and application-pending virtual asset
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The SEC said Stoner Cats violated the Securities Act of 1933 by selling NFTs that qualify as investment contracts. Stoner Cats has agreed to a refund. The United States Securities and Exchange Commission (SEC) continues its widespread crackdown by going after “Stoner Cats”, an NFT-based web series from Hollywood couple Ashton
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The Securities and Exchange Commission (SEC) now claims actress Mila Kunis’ “Stoner Cats” raised $8 million from selling unregistered securities in more than one US state. In a press release on Sep. 13, the SEC said Stoner Cats 2 LLC (SC2) sold 10,000 non-fungible tokens (NFTs) in 35 minutes and raised
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