Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInCrypto Industry a Disaster in Need of Rebranding, UK Lawmaker Says
The crypto industry is “a complete disaster” at the moment, said Godfrey John Bewicke-Copley, a member of the House of Lords, at an All-Party Parliamentary Group (APPG) meeting on Wednesday. In fact, he advised that the industry “ditch” the word “crypto” altogether. “Please, if we are going forward, let’s not call it crypto anymore. Please, […]
Prosecutors Seeking Arrest Warrant for Terraform Labs’ Daniel Shin: Yonhap
South Korean newswire service Yonhap is reporting that prosecutors are seeking an arrest warrant for Daniel Shin, co-founder of Terraform Labs. Yonhap says prosecutors are charging Shin with taking illegal profits as he sold $105 million of LUNA at a market high without informing investors. He’s also being charged with violating the Electronic Financial Transaction […]
Bitcoin, Ether Needn’t Follow Financial Rules, Belgian Regulator Says
Cryptocurrencies without an issuer such as bitcoin (BTC) and ether (ETH) are not securities, Belgium’s Financial Services and Markets Authority said Thursday. The regulator said it was getting an increasing number of questions about the regulatory treatment of crypto and hoped to address the most frequently occurring gray areas, including when digital assets can be […]
Bahamas reels from FTX collapse: ‘Crypto was going to be our way out’ | Financial Times
Sam Bankman-Fried chose a slice of prime Bahamas real estate to build the new headquarters of his fast-growing cryptocurrency exchange FTX, posing with a shovel alongside the Caribbean country’s prime minister in a shared embrace of the huge potential for digital assets. Just seven months later, FTX’s spectacular collapse has sent shockwaves through an industry […]
Former Tesla Motors Australia director pleads guilty to insider trading | ASIC
Former Tesla Motors Australia Pty Ltd (Tesla Australia) director Kurt Schlosser, of Sydney, New South Wales, has pleaded guilty at the Sydney Downing Centre Local Court to two counts of insider trading. On 16 September 2020, Mr Schlosser acquired 86,478 shares in the mining company Piedmont Lithium Limited after being informed, in his role as […]
Bahamian FTX Liquidators Cite ‘Serious Fraud and Mismanagement’ in Court Filings
There are signs that “serious fraud and mismanagement” occurred at crypto exchange FTX, according to court filings made by the company’s Bahamian liquidators late Wednesday. The crypto exchange, headquartered in the Bahamas, declared bankruptcy in the U.S. after revelations from CoinDesk regarding a blurring of lines with sister trading firm Alameda Research’s financials led to […]
Elsewhere in tweeting through it – Bloomberg
Do Kwon’s Twitter account remains really good? Kwon is the founder of Terra, the crypto blockchain that blew up in a stablecoin meltdown in May. He is now wanted by South Korean prosecutors, and depending on who you believe he is either “not on the run” (his view) or “obviously on the run” (prosecutors’ view). […]
El Salvador’s Bitcoin ‘Revolution’ Is Failing Badly – Bloomberg
A year in, it’s clear the move is failing. Almost no one in the country is using Bitcoin, and the few who bought after Bukele made it legal tender would’ve lost big: Bitcoin has dropped 61% since September 2021. In a country where many live on less than $10 a day, he spent hundreds of […]
India’s Crypto Taxes May ‘Kill the Industry,’ Binance CEO Says – Bloomberg
Binance Holding Ltd. Chief Executive Officer Zhao “CZ” Changpeng said India’s onerous taxes on cryptocurrency transactions will probably “kill the industry” there. “India has high tax which is probably going to kill the industry,” Zhao said in livestreamed remarks during panel at a fintech conference in Singapore on Thursday. Zhao’s comments add to a litany […]
‘From mother-in-law to behenoi’: How Sebi is battling insider trading – BusinessToday
Speaking at the 49th Foundation Day Lecture of IIM Bangalore, Sebi chairperson Madhabi Puri Buch highlighted the advancements that the regulator has done in terms of harnessing technology and data to prevent or minimise wrongdoings in the securities market. Interestingly, she also highlighted the way violators have evolved following the regulator’s enhanced focus on technology […]