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Biden Administration’s First Lawsuit for Unregistered Tokens

USA - February 22 2021 On February 17, 2021, the U.S. Securities and Exchange Commission announced charges against Coinseed, a company that purported to offer a mobile…

Updates on Nigeria and India

India, Nigeria - February 18 2021 We previously reported that India’s Parliament was going to be considering legislation that would largely ban the use of private cryptocurrency…

Canada Beats the US — Approves First Bitcoin ETF in North America

Canada, USA - February 16 2021 Eight times since 2013, the U.S. Securities and Exchange Commission has repeatedly refused to approve applications for a cryptocurrency-linked…

Nigeria Cracks Down on Cryptocurrency

Nigeria - February 8 2021 In a February 5, 2021 letter, the Central Bank of Nigeria (CBN) warned all banks in the country that that they are prohibited from dealing in…

U.S. Man Agrees to Plead Guilty to Federal Charges of Illegally Operating Bitcoin-Cash Exchange Business and Money Laundering

USA - February 2 2021 On January 29, 2021, Hugo Sergio Mejia, 49, of California, was charged in a two-count information with operating an unlicensed money transmitting…

India May Ban Cryptocurrency Again

India - February 1 2021 Previous posts have talked about India’s interesting relationship with cryptocurrency. In 2018, India’s central bank, the Reserve Bank of India (RBI)…

Cryptocurrency Trader “Coin Signals” Charged with Running $5 Million Ponzi Scheme

USA - January 27 2021 On January 26, 2021, federal prosecutors in New York unsealed a criminal complaint against 24-year old Jeremy Spence (aka “Coin Signals”). As alleged…

Russia Bars Certain Officials From Owning Cryptocurrency

Russia - January 26 2021 Russia is continuing its unpredictable relationship with cryptocurrency. At one time, there was talk of the country banning cryptocurrency, though…

In One of the Last Acts under Comptroller of the Currency Brian Brooks, the U.S. OCC Clarifies that Federally Chartered Banks and Thrift Institutions May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities

USA - January 21 2021 The U.S. Office of the Comptroller of the Currency (OCC) published a letter on January 4, 2021 (January 2021 Letter) clarifying the authority of…

India Weighs 18% Tax on Bitcoin Trades

India - January 19 2021 We have previously reported about how India’s central bank, the Reserve Bank of India (RBI), had banned domestic financial institutions from…