Delaware’s Chancery Court issued a temporary restraining order on Friday limiting Ripple Labs Inc. from carrying out XRP cryptocurrency transaction and equity redemption until Tetragon can sell back its stock. Tetragon Financial Group Ltd, an investor in Ripple Labs filed a temporary restraining order on Jan, 7th. In the motion,...
The U.S. Commodity Futures Trading Commission asked a Manhattan federal judge to enter a final judgment against a purported cryptocurrency trader Michael Ackerman and his two companies Q3 Holdings LLC and Q3 I LP in connection with wire fraud and misappropriation of customers funds. Together, restitution and the fine would...
BitGo, a U.S. based crypto firm that offers both custodial and non-custodial digital wallet management services has agreed with OFAC to remit $98,830 towards the settlement of a violation of the sanctions compliance program. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) found that between 2015 and 2019,...
A pretrial conference on the SEC vs Ripple case has been set for Feb 22, 2021. The pretrial is a conference prior to the actual trial ordered by the court to discuss the issues of the case.The U.S. district couth of New York Southern will facilitate the meeting telephonically in...
The Securities and Exchange Commission (SEC) announced on 22 Dec that it has filed the lawsuit against Ripple Labs Inc. and two of its executives – Ripple CEO Brad Garlinghouse and cofounder Chris Larsen- for raising over $1.3 billion through an unregistered, ongoing digital asset securities offering. As per the...
The ex-CEO of infamous Japanese Bitcoin exchange Mt Gox – Mr. Mark Karpeles urged the Illinois U.S. District Court federal judge on Monday not to certify a class suit from plaintiff Mr. Gregory Greene that claims Mr. Karpeles misrepresented the exchange’s safety, security, and operation in the “terms of use”...
After years of waiting, the trustee on 15th Dec submitted the draft Mt Gox rehabilitation plan to the court. The Tokyo District Court and an examiner will review the draft rehabilitation plan and determine whether to proceed with the rehabilitation proceedings as per the draft rehabilitation plan. Background: Mt Gox...
