court

BitConnect founder indicted for alleged $2.4 billion Ponzi scheme

Court sides with SEC in ICO promotion case against former McAfee assistant

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The US Securities and Exchange Commission (SEC) on July 14 obtained a final consent judgment against John McAfee’s former assistant Jimmy Gale Watson, Jr., for his alleged role in McAfee’s initial coin offering (ICO) promotion.  The final consent judgment with the U.S. District Court for the Southern District of New York requires Watson to …

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US Appeals Court Orders SEC to Bring Enforcement Actions to Jury Trials

US Appeals Court Orders SEC to Bring Enforcement Actions to Jury Trials

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The SEC alleged in 2013 that George Jarkesy Jr. and his firm, Patriot28 LLC, violated federal securities law by misstating his hedge funds’ assets. The case was tried before an administrative law judge, rather than before a civil court. These administrative law judges, or in-house judges, may have violated Jarkesy’s seventh amendment rights to a …

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Verdict appealed in Wright/Kleiman court dispute over bitcoin billions, use of funds

Verdict appealed in Wright/Kleiman court dispute over bitcoin billions, use of funds

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advertisement A case disputing ownership of bitcoins worth billions of dollars that ended in December with a Florida jury deciding in favor of defendant Craig Wright on all but one of seven counts was appealed on Friday by the estate of David Kleiman, Reuters reported. Wright was hit with a single count of unauthorized use …

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Is the US SEC playing on the back-foot with Ripple's offensives in court?

Is the US SEC playing on the back-foot with Ripple’s offensives in court?

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The US Securities and Exchange Commission (SEC) has been facing the heat from different directions. The US regulatory watchdogs had locked horns in an ongoing battle with the fintech firm, Ripple Labs. Here, Defendant had launched offensive attacks against the SEC, allegedly to put the latter in the back seat. An action filed by Empower …

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SEC asks court to enforce subpoena against crypto startup Terraform Labs

SEC asks court to enforce subpoena against crypto startup Terraform Labs

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advertisement A spat between crypto startup Terraform Labs, its CEO Do Kwon and the Securities and Exchange Commission (SEC) entered a new phase when the U.S. securities regulator went to court seeking an order to enforce an investigative subpoena. Kwon was served with a subpoena during a crypto industry event in September in New York, …

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A lack of precedent leads Swedish court to return 33 BTC after law enforcement seizure

A lack of precedent leads Swedish court to return 33 BTC after law enforcement seizure

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A Swedish court has mandated that the country’s government owes an alleged drug dealer more than $1.3 million in bitcoin due to the way in which law enforcement sold some of their seized crypto. Swedish Law Enforcement seized the man’s holdings of 36 BTC in connection with the offenses during proceedings, and a court valued …

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Chinese court begins trial of prominent crypto OTC trader Zhao Dong

Chinese court begins trial of prominent crypto OTC trader Zhao Dong

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The Xihu District Court in the Chinese city of Hangzhou has started the trial of a criminal case against well-known crypto over-the-counter (OTC) trader Zhao Dong and several others. According to the live stream page of the trial on Wednesday, Zhao was charged with a crime called “assisting internet criminal activities.” Under China’s codified laws, …

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IRS wins court approval to serve Kraken with a request for customer information

IRS wins court approval to serve Kraken with a request for customer information

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After a denial last month, a federal court in the Northern District of California has authorized the Internal Revenue Service (IRS) to serve an information request to Kraken. The IRS will serve the crypto exchange with a John Doe summons, which requests user information to identify crypto holding taxpayers. The Department of Justice announced the …

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