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Dapper Labs Secures Favorable Settlement in Class Action Lawsuit Involving NBA Top Shot NFTs

June 4, 2024

Dapper Labs, a blockchain technology and digital collectibles company, has reached a favorable settlement in the legal case Friel vs. Dapper Labs, establishing that NBA Top Shot Moments are not securities. The company emphasizes that this significant ruling clarifies the legal status of digital collectibles and ensures the continued decentralization of the Flow blockchain. Dapper Labs Resolves…

Binance Announces Restrictions on Unauthorized Stablecoins in EU to Comply With MiCA Regulations

June 4, 2024

Crypto exchange Binance announced Monday its strategy to comply with the forthcoming Markets in Crypto Assets Regulation (MiCA) stablecoin rules, set to take effect on June 30 across the European Economic Area (EEA). These regulations will restrict the issuance and offering…

Sleepy Crypto Market ‘May Get Caught Offside': QCP Capital Eyes Bullish Shift in Ethereum

June 3, 2024

This weekend, the Singaporean cryptocurrency firm QCP Capital reported a significant drop in market volatility after the approval of spot ethereum (ETH) exchange-traded funds (ETFs), despite ongoing catalysts. QCP highlighted that bitcoin is under bearish pressure due to…

Ex-Banker Sentenced to 41 Months in US Prison for Crypto Fraud Scheme

June 3, 2024

Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying other investors. He…

Study: Crypto Losses 28% Lower in May; Attackers Primarily Targeting Defi Platforms

June 3, 2024

In May, cybercriminals were less successful in their attacks on decentralized defi platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost…

SEC Ordered to Pay $1.8M for Misconduct — Debt Box Hails 'Monumental Victory' for Crypto Industry – Regulation Bitcoin News

May 31, 2024

A federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay over $1.8 million in its case against the crypto firm Digital Licensing, also known as Debt Box. The penalty resulted from the SEC’s bad faith conduct in obtaining and defending an ex…

TRUMP Coin Reaches All-Time High as Trump-Themed Cryptos See Major Gains – Market Updates Bitcoin News

May 31, 2024

The presidential meme coin fervor persists, with the token maga (TRUMP) hitting an all-time high of $15.45 on Wednesday. This surge elevated the value of Donald Trump’s TRUMP coins to $8.06 million on May 29. Additionally, various Trump-related crypto assets are emerging from the woodwork, including one leveraging Bitcoin’s Runes protocol for minting. Trump-Themed Meme Tokens Rise…

South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash – Regulation Bitcoin News

May 31, 2024

South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as the reason for…

Ark CEO Cathie Wood Talks Bitcoin With El Salvador's President — Applauds His Vision for BTC Hub

May 30, 2024

Cathie Wood, CEO of asset management firm Ark Invest, recently met with El Salvador’s President Nayib Bukele and discussed bitcoin. She praised his progressive approach to economic and educational reforms. “President Bukele’s determination to transform El Salvador into…

Hong Kong's Grace Period for Crypto Exchanges Ending — Trading Platforms Must Obtain License by June 1

May 30, 2024

The Hong Kong Securities and Futures Commission (SFC) has issued a reminder that crypto trading platforms must obtain a license to operate in Hong Kong before the grace period ends on June 1. The regulator warned that operating without a license is a criminal offense and will enforce compliance. Investors are advised to only trade on SFC-licensed crypto trading platforms. Regulatory Deadline…