SEC Crushed: Crypto Trader Wins on Commodity Fraud Claims New York’s Appellate Division just gutted the SEC’s reach into crypto trading, ruling that a Manhattan commodities firm’s lawsuit against a trader belonged in federal CFTC court—not state turf. In Regal Commodities v. Tauber, judges tossed state fraud claims tied to bitcoin futures, handing a win…
SEC Overturns CFTC on Family Trust’s Crypto Futures Fight The Seventh Circuit Court of Appeals just gutted a CFTC enforcement action against the Conway Family Trust, ruling the agency overstepped its authority in fining the trust for alleged commodities fraud. This rare judicial smackdown limits federal regulators’ reach into private trusts trading crypto derivatives, signaling…
Crypto Bloodbath: Bitcoin Slips Below $85K, $796M Liquidated as Traders Get Forced Out Bitcoin fell below $85,000 in a sharp move that coincided with widespread forced liquidations across the crypto derivatives market. In total, roughly $796 million in leveraged positions were liquidated as the decline accelerated, pushing many traders out of the market at once….
SEC Slaps Down in Crypto Case—Fifth Circuit Shields Coinbase from “Unregistered Exchange” Claims In a sharp rebuke to the SEC’s crypto crackdown, the Fifth Circuit Court of Appeals ruled on November 26 that Coinbase isn’t liable for running an unregistered securities exchange, tossing key claims in the agency’s high-stakes lawsuit. This decision narrows the SEC’s…
SEC Slaps Down in Coinbase Ruling—Circuit Split Ignites Crypto Chaos The Fifth Circuit just gutted the SEC’s star-chamber tactics against Coinbase, vacating an order that let regulators freeze $80 million in user funds without a fair hearing. This bombshell decision shreds the SEC’s “internal adjudication” power, forcing them to prove their case in open court…
SEC Panel Greenlights Crypto Case Centralization in Chicago A federal judicial panel chaired by Judge Sarah S. Vance has approved Anthony Motto’s motion to consolidate three crypto-related lawsuits into the Northern District of Illinois, pulling in cases from California and Pennsylvania. This move streamlines battles over digital asset regulations, signaling courts’ push for unified handling…
SEC Crushes Crypto Broker in Commodities Broker-Dealer Fight New York appellate court slams Regal Commodities, ruling it operated as an unlicensed commodities broker in a dispute with client Aaron Tauber, handing a win to regulators and exposing crypto traders to stricter oversight. This decision reinforces that digital asset firms can’t dodge broker-dealer registration by claiming…
CFTC Bites Dust: Kraft Wins Mandamus Block on Subpoena Overreach The Seventh Circuit just slammed the brakes on the CFTC’s aggressive subpoena power, denying the agency’s mandamus petition against Kraft Foods and Mondelēz in a ruling that exposes cracks in federal regulators’ reach. This isn’t just a win for snack giants—it’s a signal flare for…
SEC Slaps Down on Crypto ‘Pirate’ Site in Piracy Case Win The Fifth Circuit Court of Appeals just handed the SEC a sharp victory by upholding penalties against TVAzur, a crypto-funded TV piracy site, in a ruling filed November 26, 2024. The court rejected the site’s plea to dodge $10.7 million in fines for copyright…
CFTC Crushes Forex Broker in Crypto Turf War Victory The Ninth Circuit just handed the CFTC a major win, affirming a $9 million penalty against forex brokers Monex Deposit Company and Monex Credit Company for illegally marketing retail foreign exchange contracts as commodities without registration. This ruling sharpens the CFTC’s claws over off-exchange forex trading,…
SEC Panel Backs Centralization in Key Crypto Class Actions A federal judicial panel chaired by Sarah S. Vance just greenlit consolidating three crypto-related lawsuits into Chicago’s Northern District of Illinois, pulling in cases from California and Pennsylvania. Anthony Motto, plaintiff in the lead Greene case, pushed for this move to streamline battles over alleged securities…
CFTC Wins Appeal: Crypto Trader’s Fraud Conviction Stands Firm The Ninth Circuit Court of Appeals upheld a lower court’s ruling against James Devlin Crombie, a California trader who peddled fraudulent investment schemes promising massive returns from Bitcoin and precious metals trades. Crombie was hit with a permanent trading ban, $1.8 million in restitution, and $440,000…
SEC Drops Futility Fight in Kraft CFTC Showdown The Seventh Circuit just slammed the door on the CFTC’s desperate bid to force Kraft Foods and Mondelēz to cough up emails in a long-dead yogurt futures probe, ruling the agency wasted years chasing ghosts. This mandamus denial guts bureaucratic overreach, signaling courts won’t let regulators harass…
Tether Will Keep Adding to $24 Billion Gold Stash Held in Former Nuclear Bunker, Says CEO Tether plans to continue increasing its gold holdings, according to comments from the company’s CEO. The stablecoin issuer currently has a gold stash described as worth about $24 billion, stored in a former nuclear bunker. The update adds detail…
SEC Crushes Binance in Major Blow to Crypto’s Top Exchange In a stinging rebuke to the world’s largest crypto exchange, a D.C. federal judge denied Binance’s bid to toss out the SEC’s sweeping fraud lawsuit, ruling that its tokens like BNB, BUSD, and others qualify as unregistered securities. This keeps the case barreling forward, exposing…
CFTC Clips Monex Wings: Metals Dealers Dodge Commodity Fraud Charge The Ninth Circuit just kneecapped the CFTC’s bold bid to regulate precious metals dealers as commodity swappers, vacating a lower court’s ruling in a case that could reshape how agencies police leveraged bullion trades. Monex, a California-based firm peddling gold and silver contracts, fought off…
SEC Crushes IRS Bid to Freeze Innocent Crypto Wallets In a stinging rebuke to federal overreach, a D.C. federal judge rejected the IRS’s attempt to permanently seize 24 cryptocurrency accounts worth millions, ruling the government failed to prove they were tied to tax evasion. This decision in U.S. v. Twenty-Four Cryptocurrency Accounts hands a rare…
CFTC Nails Crypto Trader in Landmark Fraud Win The Ninth Circuit just upheld a massive victory for the CFTC against James Devlin Crombie, a California trader who peddled $7.8 million in fraudulent investment schemes tied to Bitcoin and precious metals from 2009 to 2011. Crombie lost his appeal on all fronts, with judges affirming a…
SEC Slapped Down: Court Shields Crypto Firm from Unfair Clawback In a stinging rebuke to the SEC, a Delaware Superior Court judge ruled that Diamond Fortress Technologies and its CEO Charles Hatcher can’t be forced to disgorge profits from a crypto trading bot, tossing the agency’s bid for $1.2 million in penalties. This decision guts…
SEC Crushes Binance’s Bid to Dodge Courtroom Showdown In a stinging rebuke, a D.C. federal judge denied Binance’s plea to toss out the SEC’s massive fraud lawsuit, forcing the world’s largest crypto exchange to face allegations of bilking investors through unregistered securities and misleading practices. This ruling keeps the pressure cooker on Binance, signaling regulators…
