Consensys, a United States-based blockchain firm, has sued the Securities and Exchange Commission (SEC) to push the regulator away from regulating the Ethereum blockchain. Filed yesterday (Thursday), the lawsuit also termed the efforts of the regulator a “campaign to seize control over the future of cryptocurrency.” A Strategic Lawsuit The lawsuit further argued that if the SEC continues to exert its authority over Ethereum, it would bring the blockchain to a halt, “crippling one of the internet’s greatest innovations.” Consensys revealed that its actions against the SEC came after it received ..read more

Argo Blockchain (LSE: ARB; NASDAQ: ARBK), a cryptocurrency mining company, has released its 2023 financial results, revealing a year marked by strategic adjustments amidst industry challenges. However, despite achieving a modest gross profit, net income was negative for another consecutive year. Argo Blockchain Tried to Weather Crypto Storm, Cuts Debt by 63% in 2023 The company mined 1,760 Bitcoin throughout the year, averaging 4.8 Bitcoin per day, despite facing increased global hashrate and network difficulty. Annual revenues reached $50.6 million, a decline of 14% from the previous year, as ..read more

US prosecutors have proposed a 36-month prison sentence for Binance's former CEO, Changpeng Zhao. According to a report by CNBC, the prosecutors argued that such a sentence, which is double the advisory guidelines, reflects the seriousness of the charges against Zhao. The recommendation, outlined in a sentencing memorandum filed with the Western District Court of Washington, highlights the severity of the accusations against Zhao, who stepped down from his position last November following a plea deal with the US Department of Justice. US Prosecutors' Charges Against Zhao US prosecutors said a ..read more

CoinW Exchange, a notable presence within the digital asset trading domain, is undergoing changes as it observes its sixth-year anniversary. Situated in Dubai, the exchange has revealed an exhaustive rebranding effort alongside the debut of its Proprietary Trading (Prop Trading) product. Introducing Prop Trading for Profit Opportunities Having cemented its position within the digital assets trading industry, CoinW Exchange is now set to enter a fresh phase of development. A centrepiece of its transformation is the launch of the Prop Trading product, an offering aimed at providing traders with ..read more

Tigran Gambaryan, the detained Binance executive in Nigeria, will remain in custody until a bail hearing on May 17. Meanwhile, his trial is scheduled for May 2. More Jail Time in Nigeria The extension of Gambaryan’s remand was granted by the Nigerian court yesterday (Tuesday) amid opposition from federal prosecutors to the appeal for bail. The crypto exchange’s executive has already pleaded not guilty to charges of tax evasion and money laundering. Gambaryan holds the position of Head of Financial Crime Compliance at the crypto exchange. He and another fellow Binance executive, Nadeem Anjarwal ..read more

Tokyo-based financial services company Monex Group has completed its acquisition of a majority stake in 3iQ Digital Holdings, a Canadian crypto asset manager. The acquisition, initially announced in December 2023, has resulted in 3iQ and its subsidiaries becoming part of the Monex Group. Monex Group Acquires Majority Stake in Canadian Crypto Asset Manager 3iQ To support 3iQ's rapid business expansion, Monex Group has also invested $7.5 million in 3iQ's Managed Account Platform (QMAP). QMAP offers institutional investors access to a diverse range of crypto hedge funds, featuring alpha-oriented ..read more

The Philippines' securities regulator has taken enforcement action against Binance, ordering Google and Apple to remove its apps from their respective app stores. This action follows allegations that Binance offered unregistered securities to Filipino investors. Philippines SEC Targets Binance's Apps The Philippines' Securities and Exchange Commission (SEC), through its Chairperson Emilio Aquino, highlighted the threat posed to the security of investors' funds by continued access to Binance's sites and apps. The regulator alleged that Binance's presence in the app stores facilitates the spread ..read more

Crypto.com has postponed the planned launch of its app in South Korea due to scrutiny by the regulators on the exchange's anti-money laundering practices. According to a local media publication Segye Ilbo, Korean financial authorities have initiated an emergency on-site inspection of the crypto exchange. Anti-Money Laundering Concerns The inspection, conducted by the Financial Intelligence Unit under the Financial Services Commission, followed the discovery of anti-money laundering-related issues in the data submitted by Crypto.com. Crypto.com has emphasized its commitment to maintaining prope ..read more

Ripple Labs has formally opposed the US Securities and Exchange Commission’s (SEC) proposition to levy a substantial fine of nearly $2 billion against the company linked to the XRP Ledger blockchain. Filed yesterday (Monday), Ripple's opposition challenges the SEC's proposal, which seeks to persuade a New York judge to impose the hefty penalty. Legal Battle between Ripple and SEC The SEC's proposal outlines a fine totalling $1.95 billion, comprising $876 million for disgorgement, $198 million for prejudgment interest, and a civil penalty of $876 million. The basis for the SEC's case stems from ..read more

The legal battle between Ripple and the SEC over allegations of illegal sale of cryptocurrencies has reached a crucial step as the long-awaited trial starts today (Tuesday). The SEC first accused Ripple Labs of offering unregistered securities in December 2020. Ripple's defense is based on the argument that its native cryptocurrency, XRP, should not be classified as a security. As the trial begins, the crypto sector is eagerly awaiting the outcome, which could have significant implications for the future of Ripple and the broader digital asset industry, CryptoPotato reported. A Prolonged Legal ..read more