North Dakota Revokes Binance.US Money Transmitter License
North Dakota’s financial regulator has revoked a money transmitter license for Binance’s U.S arm, making it the seventh state to do so. On June 17, Commissioner Lise Kruse of the North Dakota Department of Financial Institutions (DFI) stated that BAM Trading Services, which operates under Binance.US, did not adhere to the state’s money transmitter laws. […]
South Korea Confirms Crypto Not Included in New Donation Law
Cryptocurrencies have been excluded from newly amended “Donations Act” in South Korea which could be a blow to charities and donation drives. The exclusion of digital currencies from recently amended donation legislation in South Korea may have adverse consequences for charitable organizations and donation campaigns. Kyunghyang Shinmun, a local news outlet, reported on May 5 […]
Terraform Labs Refuses to Pay $5.3 Billion SEC Fine
Terraform Labs’s attorneys asserted that the SEC lacks evidence that the organization has a “foreseeable substantial effect” in the US. A New York jury in March 2024 indicted Terraform Labs and its co-founder Do Kwon on fraud charges, with U.S. regulators demanding a $5.3 billion penalty. However, these allegations have been refuted by Terraform’s attorneys, who assert […]
Coin Centre Group Expresses Concern Over Stablecoin Bill
Coin Center, a US-based advocacy organization for cryptos, has raised concerns regarding the Senate establishing a regulatory bill for stablecoins. Senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payment Stablecoin Act . According to the legislation, Coin Center argued in an April 19 notice that the proposed prohibition on algorithmic stablecoins would be […]
Binance Issues Statement Ahead of Execs’ Court Trial in Nigeria
Binance executives face legal battles in Nigeria over money laundering and tax charges, prompting a defense statement from the exchange. Binance, a prominent entity in the domain of cryptocurrency exchanges, is currently entangled in legal commotion due to pending judicial proceedings in Nigeria against its executives. Due to impending legal proceedings concerning allegations of money […]