TL;DR Breakdown Lawyer John Deaton has joined the LBRY lawsuit to support Naomi Brockwell. LBRY faced SEC allegations of unlawful token sales, leading to a judgment in July 2023, while Ripple won a favorable summary judgment in a separate case. Deaton’s involvement highlights his ongoing commitment to championing the rights of cryptocurrency stakeholders amid evolving legal challenges.   Description Lawyer John Deaton, renowned for his representation of XRP token holders in the Ripple-Securities Exchange Commission (SEC) lawsuit, has officially entered the legal arena once again. Deaton submitted his Notice of Appearance as an Amicus Curiae in the LBRY lawsuit, further solidifying his commitment to the cryptocurrency community’s legal rights. A notable move in the … Read more Lawyer John Deaton, renowned for his representation of XRP token holders in the Ripple-Securities Exchange Commission (SEC) lawsuit, has officially entered the legal arena once again. Deaton submitted his Notice of Appearance as an Amicus Curiae in the LBRY lawsuit, further solidifying his commitment to the cryptocurrency community’s legal rights. A notable move in the LBRY lawsuit In a formal document filed on…

TL;DR Breakdown The New Zealand banking sector is taking proactive measures to combat scams targeting customers. In the second quarter of 2023, there were 1,950 reported scams in New Zealand, resulting in a total loss of NZ$4.2 million ($2.48 million). Consumer advocates, including Consumer NZ’s CEO Jon Duffy and Banking Ombudsman Nicola Sladden, stress the urgent need for swift action to protect New Zealanders from scams. Description The New Zealand banking sector is taking proactive measures to combat scams targeting customers, which includes establishing a national Anti-Scam center, pooling resources to combat money laundering, and enhancing public awareness. In the second quarter of 2023, there were 1,950 reported scams in New Zealand, resulting in a total loss of NZ$4.2 million ($2.48 million), … Read more The New Zealand banking sector is taking proactive measures to combat scams targeting customers, which includes establishing a national Anti-Scam center, pooling resources to combat money laundering, and enhancing public awareness. In the second quarter of 2023, there were 1,950 reported scams in New Zealand, resulting in a total loss of NZ$4.2 million ($2.48 million),…

TL;DR Breakdown Genesis, a digital asset financial firm, has ceased trading services across its business units, including GGC International, citing voluntary business reasons. The company had previously filed for Chapter 11 bankruptcy and faced regulatory scrutiny from the SEC, adding to its financial woes. Description Digital asset firm Genesis has announced the cessation of all its trading services. The firm communicated this decision through an email to its clients, stating that the move was voluntary and driven by business considerations. It is important to know that the termination affects all business entities under Genesis, including GGC International, which facilitated the … Read more Digital asset firm Genesis has announced the cessation of all its trading services. The firm communicated this decision through an email to its clients, stating that the move was voluntary and driven by business considerations. It is important to know that the termination affects all business entities under Genesis, including GGC International, which facilitated the firm’s spot trading activities. Clients with open derivatives positions have been assured that these will be honored until their expiry. The backdrop:…

TL;DR Breakdown South Korean Bitcoin lender Delio is preparing to file an administrative lawsuit against the Financial Service Committee (FSC) over allegations of fraud and embezzlement, which Delio claims are based on a flawed interpretation of existing laws. The lawsuit highlights the regulatory ambiguity surrounding virtual asset deposit and management products in South Korea and the broader challenges faced by the crypto industry. Description South Korean Bitcoin lender Delio is gearing up to file an administrative lawsuit against the country’s Financial Service Committee (FSC).  The firm contends that the FSC’s allegations of fraud and embezzlement are unfounded and stem from a flawed interpretation of existing laws. Delio argues that the regulatory body has acted unreasonably. The Financial Intelligence Unit … Read more South Korean Bitcoin lender Delio is gearing up to file an administrative lawsuit against the country’s Financial Service Committee (FSC).  The firm contends that the FSC’s allegations of fraud and embezzlement are unfounded and stem from a flawed interpretation of existing laws. Delio argues that the regulatory body has acted unreasonably. The Financial Intelligence Unit (FIU), a subsidiary…

TL;DR Breakdown Senator Sherrod Brown raises concerns over the lack of transparency in cryptocurrency disclosures. Brown reaches out to finance and trade leaders, including Treasury Secretary Janet Yellen and SEC Chair Gary Gensler, urging collaboration and strengthened oversight. The senator emphasizes the dangers of diluting America’s high investment standards and warns against minimal disclosure requirements for digital assets. Description While cryptocurrency continues its aggressive surge into mainstream finance, not everyone in the corridors of power is thrilled. Senator Sherrod Brown, representing Ohio, has sounded a clarion call on the clear pitfalls and risks it poses for the ordinary American. A Cry for Clarity in the Crypto Wild West The sweeping tidal wave of crypto … Read more While cryptocurrency continues its aggressive surge into mainstream finance, not everyone in the corridors of power is thrilled. Senator Sherrod Brown, representing Ohio, has sounded a clarion call on the clear pitfalls and risks it poses for the ordinary American. A Cry for Clarity in the Crypto Wild West The sweeping tidal wave of crypto has left regulatory bodies and government officials scrambling…

TL;DR Breakdown Australia’s ANZ bank collaborates with Chainlink, advancing its capabilities in the blockchain sphere. ANZ successfully completes a transaction using its A$DC stablecoin and Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The move builds on knowledge from a prior initiative aiming to test blockchain interoperability with global banking giants. Description ANZ is not waiting around. As one of the juggernauts in Australia’s banking sector, ANZ has launched another daring move, this time venturing deep into the blockchain universe. With the impressive completion of a transaction harnessing tokenized assets, ANZ is demonstrating it’s not just here to play; it’s here to lead. Breaking Boundaries: From Traditional … Read more ANZ is not waiting around. As one of the juggernauts in Australia’s banking sector, ANZ has launched another daring move, this time venturing deep into the blockchain universe. With the impressive completion of a transaction harnessing tokenized assets, ANZ is demonstrating it’s not just here to play; it’s here to lead. Breaking Boundaries: From Traditional to Tech-forward ANZ has recently made waves by conducting a transaction involving its A$DC stablecoin, coupled with Chainlink‘s…

TL;DR Breakdown Roni Cohen-Pavon, ex-chief revenue officer of the Celsius Network, pleads guilty to four charges, including manipulating the Cel token’s price. Cohen-Pavon agrees to assist the U.S. Attorney’s office and the FBI in their investigations. Celsius founder, Alex Mashinsky, is also accused of artificially inflating the Cel token’s value; he has pleaded not guilty. Description When it comes to the dynamic and unpredictable world of cryptocurrency, Roni Cohen-Pavon’s recent guilty plea reveals the perilous terrain of the crypto industry. Serving as the former chief revenue officer of the once-celebrated, but now defunct, cryptocurrency lender, Celsius Network, Cohen-Pavon’s fall from grace has sent ripples through the industry. Cohen-Pavon’s Admission and Future … Read more When it comes to the dynamic and unpredictable world of cryptocurrency, Roni Cohen-Pavon’s recent guilty plea reveals the perilous terrain of the crypto industry. Serving as the former chief revenue officer of the once-celebrated, but now defunct, cryptocurrency lender, Celsius Network, Cohen-Pavon’s fall from grace has sent ripples through the industry. Cohen-Pavon’s Admission and Future Collaborations In the heart of Manhattan, before the watchful eyes of…

TL;DR Breakdown House Speaker Kevin McCarthy confronts GOP members over federal spending disagreements. McCarthy faces threats from critics demanding a $120 billion cut from the previously agreed budget with President Biden. The House remains in session until a spending agreement is reached to prevent a government shutdown after September 30th. Description Kevin McCarthy, the U.S. House Speaker, showed exasperation as he confronted fellow Republicans in a dramatic standoff concerning federal spending. His message was clear – there’s no winner if the government faces a shutdown. Yet, this looming crisis underscores the deep fissures within the Republican Party, as members grapple with budgetary challenges and pressures from … Read more Kevin McCarthy, the U.S. House Speaker, showed exasperation as he confronted fellow Republicans in a dramatic standoff concerning federal spending. His message was clear – there’s no winner if the government faces a shutdown. Yet, this looming crisis underscores the deep fissures within the Republican Party, as members grapple with budgetary challenges and pressures from different factions. Intense Closed-Door Confrontations The tension reached its peak in a closed-door party gathering. There,…

TL;DR Breakdown The U.S. Supreme Court temporarily halted Biden administration’s push to encourage social media platforms to remove “misleading” content, especially about COVID-19. The lawsuit, led by the Republican attorneys general of Missouri and Louisiana, claimed this move infringed on First Amendment rights. The core debate revolves around the difference between “persuasion” and “coercion” when urging platforms to censor content. Description The recent controversial decision by the Biden administration to urge social media giants to take down what it deems “misleading” content, especially concerning the COVID-19 pandemic, has hit a roadblock. The U.S. Supreme Court intervened, casting doubt on whether the White House overstepped its constitutional boundaries. A Battle of Free Speech vs. Coercion When the … Read more The recent controversial decision by the Biden administration to urge social media giants to take down what it deems “misleading” content, especially concerning the COVID-19 pandemic, has hit a roadblock. The U.S. Supreme Court intervened, casting doubt on whether the White House overstepped its constitutional boundaries. A Battle of Free Speech vs. Coercion When the Biden administration moved to push social…

Description The fiery chasm between Congress members and industry professionals grew even wider in a recent hearing over the controversial topic of Central Bank Digital Currencies (CBDCs). While the dust is still settling after the introduction of an anti-CBDC bill, both sides of the aisle have armed themselves with data, expertise, and a great deal of … Read more The fiery chasm between Congress members and industry professionals grew even wider in a recent hearing over the controversial topic of Central Bank Digital Currencies (CBDCs). While the dust is still settling after the introduction of an anti-CBDC bill, both sides of the aisle have armed themselves with data, expertise, and a great deal of bravado. The Digital Dollar Dilemma The latest sparring ground was the House Subcommittee on Digital Assets, Financial Technology, and Inclusion. On one side, we had financial and law experts highlighting potential risks and pitfalls of a CBDC system, while on the other side, advocates boasted about the potential of public financial security and streamlined payments. Now, we’re no strangers to Representative Warren Davidson’s take. This Ohio…