Daily Archives: May 2, 2023, 9:53 am

Coinbase, crypto industry hope new Supreme Court doctrine is silver bullet | Reuters

With the U.S. Securities and Exchange Commission in the midst of a stunning barrage of enforcement actions against crypto defendants, the industry has developed a sweeping, if long-shot, argument that the U.S. Supreme Court’s recently-formalized “major questions doctrine” dooms the agency’s campaign. The argument first emerged last fall in the SEC’s closely-watched Manhattan federal court case accusing Ripple Labs Inc…

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Crypto Exchange Poloniex to Pay $7.6 Million to Settle Probe Into Sanctions Violations – WSJ

Cryptocurrency exchange Poloniex LLC has agreed to pay about $7.59 million to settle allegations it allowed users in sanctioned regions to trade digital assets on its platform, the U.S. Treasury Department said. The settlement agreement, which became public Monday, alleged that Poloniex processed digital assets transactions worth a total of more than $15.3 million for customers in sanctioned regions between…

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U.S. Supreme Court to examine whistleblower claims against financial firms in UBS case | Reuters

The U.S. Supreme Court on Monday agreed to examine how difficult it should be for financial whistleblowers to win retaliation lawsuits against their employers as the justices took up a long-running case involving Switzerland’s UBS Group AG. The justices will hear an appeal by Trevor Murray, a former UBS bond strategist, of a lower court’s decision to throw out his…

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Block, Robinhood, Coinbase Lawyers Among Fintech’s Top Paid

Robinhood’s chief legal, compliance, and corporate affairs officer Daniel Gallagher Jr., hired in 2020 after working for the US Securities and Exchange Commission, received nearly $15.1 million in total compensation last year, the company said in its proxy filing. Coinbase’s chief legal officer and corporate secretary Paul Grewal received almost $7.5 million in total compensation during 2022, its proxy showed.…

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Fed Watchdog Recommends More Staff Be Covered by Trading Rules – Bloomberg

The Federal Reserve’s internal watchdog recommended that personal trading rules be extended to more staff after discovering that hundreds with access to confidential information are not covered. Chair Jerome Powell agreed with the recommendations in a letter accompanying the report, which was released Monday. The Fed in 2021 beefed up its rules governing the investment and trading of senior officials…

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