Court Slams Coinbase’s Bid to Block SEC Probe Coinbase just lost its attempt to freeze an SEC investigation that threatens to reshape how the entire crypto industry is treated under U.S. law. The Third Circuit ruled the exchange cannot run to court to stop regulators from examining its token listings, staking program, and wallet service—leaving…
Michigan Judge Bars Kalshi Sports Bets, Threatens $500K Daily Fine A Michigan judge has moved to block Kalshi from offering sports-related bets in the state, warning the company it could face a daily fine of up to $500,000 if it continues. The order effectively bars Kalshi’s sports betting activity in Michigan, putting the company on…
SEC Issues New Reporting Guidance For Digital Asset Custody Firms The US Securities and Exchange Commission has issued new reporting guidance for firms that provide custody services for digital assets, outlining how these companies should approach regulatory disclosures and recordkeeping. The guidance focuses on the information custody firms are expected to provide to regulators and,…
Bitcoin back above $81,000 as hike odds fade, Zcash leads with 15% jump Bitcoin climbed back above $81,000, regaining ground as expectations for an interest-rate hike appeared to ease. The move signaled a shift in macro sentiment, which often influences risk assets such as cryptocurrencies. In broader market action, Zcash outperformed major tokens, rising 15%…
Court Clears Kalshi Path, CFTC Power Takes Hit The D.C. Circuit just refused to block a lower-court order letting Kalshi list election contracts, signaling that the CFTC’s authority over event contracts may be narrower than regulators have long claimed. The ruling keeps the exchange’s “Will the Republican Party win the 2024 presidential election?” market live…
Court Blocks Texas Crypto-Mining Seizure in Emergency Ruling Texas appeals court halts asset seizure against Envy Blockchain, signaling new limits on state enforcement tactics in crypto disputes. In a rare emergency ruling, the Eighth Court of Appeals in El Paso has issued a writ of mandamus blocking Texas authorities from seizing property tied to Envy…
COURT BLOCKS CFTC’S BID TO HIDE KRAFT PROBE The Seventh Circuit just told the Commodity Futures Trading Commission it cannot keep its investigation into Kraft Foods secret from the company it is investigating. By denying the agency’s emergency request for a writ of mandamus, the court handed Kraft and its parent Mondelēz a clear win:…
SEC Wins Round in 34-Year Bilzerian Saga, Markets Barely Blink The D.C. District Court just extended a 2001 injunction that keeps Paul Bilzerian and his family from launching lawsuits without prior approval, calling the move a necessary shield against “vexatious litigation.” The decision keeps a three-decade-old enforcement action alive and signals that federal judges remain…
Supreme Court Hands SEC Major Crypto Loss The Supreme Court just stripped the SEC of its ability to unilaterally label digital assets as securities without proving an investment contract existed. The 7-2 ruling in *SEC v. TerraForge Labs* upends years of enforcement strategy and forces regulators to meet a higher bar before targeting tokens, exchanges,…
COURT HANDS CFTC FINAL WORD ON CRYPTO DERIVATIVES A federal appeals court just stripped a family trust of its last shot at overturning a CFTC fine and, in doing so, quietly cemented the regulator’s grip over any crypto product that trades like a futures contract. The Seventh Circuit’s ruling ends a long-running dispute between the…
Fifth Circuit Slams Brakes on SEC’s Crypto Crackdown A divided Fifth Circuit panel just handed the SEC a stinging loss, holding that the agency overstepped its authority when it tried to force a major crypto exchange to register as both an exchange and a clearing agency. The ruling signals that courts may no longer rubber-stamp…
Regal Commodities v Tauber: Appeals Court Shields Broker From Client’s Fraud Claims A New York appeals court has ruled that Regal Commodities cannot be held liable for the trading losses of client Michael Tauber, finding no evidence the broker misled him about the risks of his futures trades. The decision narrows the window for customers…
CFTC WINS RIGHT TO GRILL KRAFT ON HIDDEN TRADES Federal appeals court hands CFTC a major discovery win, ordering Kraft to hand over internal trading records in a wheat-market manipulation case. The ruling boosts regulators’ ability to chase commodity traders using hidden books, and it sends a clear signal that companies can’t dodge subpoenas by…
JUDGES BLOCK CRYPTO FORUM-SHOPPING IN THREE-STATE SUIT A federal judicial panel has rejected efforts to consolidate three related crypto lawsuits into a single Illinois courtroom, forcing the cases to proceed separately across three states. The decision signals that courts are tightening control over where crypto disputes land—and who gets to steer them. Plaintiff Anthony Motto,…
Court Slaps Brakes on Crypto-Friendly Fifth Circuit Ruling The Fifth Circuit just refused to revive a case that could have chipped away at the SEC’s authority to police digital assets. Traders hoping the appeals court would label crypto as commodities rather than securities got shut down in one terse order, keeping the status quo intact…
Court Clips CFTC’s Leash, Monex Wins The Ninth Circuit just told the CFTC it cannot use its anti-fraud statute to police every leveraged metals deal, handing Monex Credit and its affiliates a sweeping victory that narrows federal oversight of off-exchange retail transactions. The three-judge panel ruled 2-1 that the CFTC lacked authority to sue Monex…
COURT STRIPS CFTC OF SWEEPING CRYPTO JURISDICTION D.C. Circuit just told the CFTC it cannot police every digital asset that touches a futures contract. The ruling guts the agency’s attempt to claim authority over spot crypto markets simply because some tokens later trade as derivatives. Trevor Kitchen, a crypto trader, challenged a CFTC enforcement action…
CFTC Snags Crypto Fraudster in Ninth Circuit Showdown The Ninth Circuit just handed the CFTC a decisive win, ruling that a California man who ran a Bitcoin futures scheme must pay nearly $3 million in restitution and civil penalties. The decision strengthens the agency’s authority to police crypto fraud even when defendants claim their schemes…
COURT SMACKS IRS ON CRYPTO ACCOUNT SEIZURES The U.S. District Court for the District of Columbia just handed the IRS a partial defeat in its attempt to seize twenty-four cryptocurrency accounts. The court ruled that the government could not treat every wallet as a single “account” for forfeiture purposes without proving which specific addresses actually…
Judge Rejects SEC’s Full-Service Assault on Binance Ruling reshapes crypto’s regulatory battlefield overnight. The Securities and Exchange Commission just lost its opening bid to label almost every token on Binance as an unregistered security and to freeze the exchange’s U.S. operations. In a 91-page order issued late Tuesday, Judge Amy Berman Jackson kept the case…
