By Mark Hunter
1 month agoSun Jan 21 2024 09:00:53
Checking out Time: 2 minutes
Today in the crypto world we saw Tether involved in criminal allegations, Do Kwon’s SEC case getting postponed, and Coinbase taking on versus the SEC.
And it’s just January.
Tether Hits Back at UN Claims
USDT provider Tether today countered at claims by a wing of the United Nations that its coin has actually ended up being an essential tool for illegal stars in Southeast Asia. The business stated it was “dissatisfied” in the claims made by the United Nations Office on Drugs and Crime (UNDOC), arguing that it carries out “exceptional tracking” of its token and pointed to its help with police worldwide as proof of its desire to work within the law.
It didn’t reject the claims though, so …
Do Kwon Trial Delayed
The United States Securities and Exchange Commission (SEC) has actually taken actions to ensure that its celebration for Do Kwon does not begin without him. The firm asked the court to press back the start date of its lawsuit versus the Terraform Labs CEO in order to protect his existence, with the South Korean anticipated to be extradited to the United States in March.
The company has actually taken legal action against Kown on the basis that he managed “a multi-billion dollar crypto possession securities scams” through his UST token and concealed the fact about its stability, or absence of it.
Which, you understand, he did.
SEC and Coinbase Face Off in Court
Coinbase and the SEC lastly had their day in court over the exchange’s effort to dismiss the firm’s suit versus it. Coinbase submitted last August to have the case dismissed and today the 2 sides were associated with a five-hour hearing over the SEC’s claim that Coinbase offered securities through its sale of 13 cryptocurrencies.
The case will have a substantial bearing on the future of cryptocurrencies in the United States, with the sector set to be annihilated if Coinbase loses, as this will be a defacto judgment that all cryptocurrencies bar Bitcoin are securities.
The judge did not make a judgment from the bench, suggesting one will be upcoming in a couple of weeks.
