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The orders to pass the pending motion come just a day before the key hearing between Binance and the SEC on Oct. 12. United States District Judge Amy Berman Jackson of the District Court for the District of Columbia has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchange Binance ahead of a crucial hearing. Among the key orders, Jackson cleared an amicus brief filed by USD Coin (USDC) issuer Circle before the key hearing on Oct. 12. Circle filed a court motion on Sept. 29 in the ongoing SEC vs. Binance lawsuit, arguing that assets pegged to the U.S. dollar, such as USDC, are not securities. Circle, at the time, Circle said that buyers of these stablecoins do not expect any profit from acquiring them. According to Circle, payment stablecoins do not have the “ Features of an investment contract” on their own. Jackson accepted Circle as amicus curiae in support of neither Bi...

The British law firm that represented Diana, Princess of Wales, is now going after OneCoin masterminds. Mishcon de Reya, a London-headquartered international law firm, is about to file a class-action lawsuit on behalf of OneCoin investors who suffered losses as a result of the crypto fraud. In a press release published on Monday, Sept. 25, the firm said that a civil claim would be brought in London’s High Court in an effort to “recover for investors the losses they suffered at the hands of those who perpetrated the fraud.” Mishcon noted the case would be brought on a “no win, no fee” basis, which means the firm gets paid only if it achieves a satisfactory result. “The fraudulent OneCoin scheme concocted by Ruja Ignatova and others greatly impacted the lives of its victims who ranged from sophisticated to lay investors. The forthcoming claim in the High Court in London aims to achieve at least partial redress for those investors who were taken in...

Alex Mashinsky, the former CEO of Celsius Network, a bankrupt crypto lender, has been arrested in New York, reports on July 13 show. The arrest follows an investigation into the collapse of the crypto firm in Q3 2022. Mashinsky will be arraigned on Friday, July 14. However, people aware of the arrest reveal that the former CEO has denied any wrongdoing. Following the arrest , the United States Securities and Exchange Commission (SEC) is also suing Celsius and the former CEO for allegedly providing false information to creditors and information and lying about the firm’s financial health. Read more: Bitbuy relists XRP amid improvements in Ripple vs. SEC case Celsius was among prominent crypto firms collapsed last year. The crypto lender gained attention by offering high-interest rates on digital-asset deposits. However, following the TerraUSD stablecoin’s (UST) failure and a decline in crypto prices in 2022, Celsius found themselves in a financial hole and cou...

Ethereum (ETH) creator Vitalik Buterin has expressed concern about the US approach to crypto regulation, particularly the impact on projects like Solana. In a tweet, Buterin expressed sympathy for the affected projects and stated that if Ethereum were to prevail by excluding other blockchains from exchanges, it would not be a moral or sustainable victory in the long run. The one comment I'll make is that I feel bad that @solana and other projects are getting hit in this way. They don't deserve it, and if ethereum ends up "winning" through all other blockchains getting kicked off exchanges, that's not an honorable way to win, and in the long term… — vitalik.eth (@VitalikButerin) June 30, 2023 Solana (SOL) was classified as a security in the SEC’s lawsuit against both Binance and Coinbase. This categorization was not exclusive to Solana, as several other tokens, including cardano (ADA), Polygon’s token MATIC, filecoin (FIL), the Sandbox...