ChainCatcher news, according to The Block, former litigation advisor to the U.S. Securities and Exchange Commission and partner at BakerHostetler law firm, Teresa Goody Guillén, stated that the number of cases brought by the U.S. Securities and Exchange Commission against cryptocurrency companies is expected to decrease in the new year. In the future, the U.S. Securities and Exchange Commission will only be able to file lawsuits in cases involving securities.Therefore, if the lawsuits do not involve securities, the agency will refer these wrongdoers to the Department of Justice and other regulatory bodies, such as the U.S. Commodity Futures Trading Commission.

ChainCatcher News: A judge in Hartford, Connecticut, Michael P. Shea, recently sentenced 31-year-old West Hartford resident Dylan Meissner to 48 months in prison for stealing over $4.4 million from his former employer. Meissner worked as the Vice President of Finance at a cryptocurrency research company and had access to the company's cryptocurrency wallets and bank accounts.In early 2022, Meissner obtained a loan of 50 Ethereum (approximately $170,000) from the company, claiming he would use the funds to avoid personal cryptocurrency investment losses. However, between February and November 2022, Meissner began misappropriating company funds to cover personal trading losses and concealed his actions with false records. Ultimately, he stole approximately $4,461,828 through this scheme.Judge Shea also ordered Meissner to pay restitution of $4.63 million, which includes the stolen funds and the unpaid loan. Meissner was released on a $100,000 bond and is scheduled to report to prison on February 21.According to Cointelegraph, the U.S. Department of Justice did not mention Meissner's previous employer by name in the case, referring to it in court as "Company A" and "a cryptocurrency research company," but Meissner was employed by Delphi Digital at the time of the crime. Meissner's attorney also referenced "Delphi" multiple times in a sentencing memorandum submitted earlier this month, indicating that it is the name of the company.

ChainCatcher message, Solana co-founder Toly (Anatoly Yakovenko) posted on X: "I estimate that about $250 billion worth of crypto startups have left the San Francisco Bay Area because California representatives failed to curb Warren's overreach. Anywhere else in the world would do whatever it takes to keep these startups there."

ChainCatcher news, according to Cointelegraph, software development giant Oracle has once again sued cryptocurrency startup Crypto Oracle LLC and its owner Louis Kerner in a federal court in California, claiming they have infringed its trademark and ignored a previous legal agreement.The software giant initially filed a lawsuit against the crypto company in 2019, accusing it of "using Oracle's trademark as part of its 'Crypto Oracle' brand and marketing cryptocurrency-related services to Oracle's own customers and users." The two companies reached a confidential settlement, and the court issued a permanent injunction in 2020, prohibiting Crypto Oracle from using the name "Crypto Oracle" or any variations of the Oracle trademark.However, Oracle now claims that Crypto Oracle and Kerner have resumed using the "Crypto Oracle" name and brand, launched new businesses, maintained infringing domain names, and hosted events under the "Crypto Oracle Collective" brand, violating the settlement agreement and court injunction. Oracle accuses the defendants of trademark infringement, unfair competition, dilution of its trademark rights, domain name squatting, breach of the settlement agreement, and civil contempt of court.

ChainCatcher news, according to Fortune, the cryptocurrency company Prometheum, which has had close ties with the SEC, is facing new challenges. With Trump elected as president and SEC Chairman Gary Gensler announcing his departure early next year, the company's previous business model based on "crypto assets as securities" may need to be repositioned.Prometheum co-CEO Aaron Kaplan stated that the company will shift its focus to issuing a broader range of securitized assets on the blockchain, including stocks, debt instruments, structured products, and ETFs.However, Matt Walsh, co-founder of Castle Island Ventures, questioned the actual trading volume on the platform and pointed out that the tokenization of traditional assets remains a niche market.

ChainCatcher news, according to Portal Do Bitcoin, Argentina's Financial Information Unit (UIF) and the Securities Commission (CNV) have conducted on-site supervision of a Bitcoin and cryptocurrency exchange for the first time to identify risks related to money laundering, terrorist financing, and the financing of weapons of mass destruction.This inspection is part of the UIF's 2024 annual regulatory plan and took place at an undisclosed exchange in the city of Rosario, Santa Fe Province. According to Resolution No. 49/2024, virtual asset service providers are required to report to the UIF and register with the CNV. This move comes as Argentina increases its vigilance against cryptocurrency-related scams, with recent reports of unregistered platforms involved in fraudulent activities.

ChainCatcher news, former cryptocurrency company CEO Tom was robbed of $450,000 due to connecting to a "friend's" WiFi.Anti-money laundering companies state that such "intimate crimes" are on the rise, with scammers exploiting relationships with victims. Security companies advise avoiding the use of cryptocurrency wallets on public WiFi networks and enabling security measures such as two-factor authentication.

ChainCatcher news, digital asset trading software provider Talos Trading Inc. is preparing to double its workforce in the Asia-Pacific region over the next 12 months.The New York-based cryptocurrency unicorn, backed by A16z, has identified Asia as its primary market, benefiting from its strong cryptocurrency foundation and regulatory clarity in jurisdictions such as Hong Kong, Singapore, and Japan.The Asia region currently contributes the majority of Talos's revenue. It is reported that Talos completed a $40 million Series A funding round in 2021, led by a16z, with participation from PayPal Ventures and Fidelity Investments.

ChainCatcher news, according to CoinGecko statistics, the settlement amount between cryptocurrency companies and U.S. regulators has reached $32 billion so far, with the largest amount being FTX and Alameda, with a settlement amount of $12.7 billion, followed by Celcius ($4.7 billion), Terraform Labs ($4.5 billion), and Binance ($4.3 billion).

ChainCatcher news, Allan Kirkland, a commissioner of the Australian Securities and Investments Commission (ASIC), stated at the AFR Digital Assets Summit that many cryptocurrency companies will need to obtain financial services licenses under the Corporations Act.ASIC believes that certain crypto assets should be classified as financial products, but there is uncertainty due to the crypto sector not fully aligning with the current regulatory framework. ASIC plans to update its guidelines before November to clarify the classification and treatment of relevant crypto tokens. ASIC has also strengthened its regulation of the crypto industry, recently taking enforcement action against Kraken and the Australian Securities Exchange (ASX).

ChainCatcher news, according to Cointelegraph, the Bank of Latvia is taking proactive measures to provide free pre-licensing consultations for crypto asset service providers in line with the upcoming EU cryptocurrency regulations.Starting from January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. Meanwhile, the bank stated that it is helping businesses prepare for this through free pre-licensing consultations. Central bank experts will provide businesses with regulatory guidance tailored to their needs, all necessary documentation, and an initial assessment of each business's compliance level.

ChainCatcher news, the UK's Financial Conduct Authority (FCA) stated that over 87% of the crypto company registrations received in 2023-24 did not meet the approval standards.The FCA mentioned in its annual report that out of 35 applications received in the 12 months ending March 31, only 4 successfully qualified. The companies that successfully registered include Binance's payment partner BNXA (a subsidiary of PayPal UK) and Nomura's cryptocurrency custody joint venture Komainu. The remaining companies were either denied a license or rejected due to a lack of key elements required for assessment.

ChainCatcher news, OKX SG has received a major payment institution license issued by the Monetary Authority of Singapore. OKX Star stated on social media, "We will continue to invest in, build, and support the local fintech community and blockchain ecosystem in Singapore. We are committed to fulfilling our obligations to global regulators and continue to build OKX as a highly compliant cryptocurrency company. Over 10% of our employees are professional lawyers and compliance managers. At the same time, we also focus on innovation and will continue to launch excellent products to serve 50 million customers worldwide."

ChainCatcher news, according to DL News, the UK's Financial Conduct Authority (FCA) has not approved any cryptocurrency company registration applications for six consecutive months, putting the country's vision of becoming a global hub for crypto assets technology on hold. FCA data shows that 34 applications were received in the past 12 months, with only 4 approved, the most recent of which was in February this year.The UK's Financial Conduct Authority stated that most crypto companies failed to meet its anti-money laundering standards, emphasizing that companies must be "appropriate and competent" and have systems in place to identify and prevent the flow of criminal funds. However, industry lobbyists complain that the FCA's rules are overly cumbersome and confusing, particularly regarding consumer marketing regulations. Nevertheless, the FCA is working with businesses to help them meet compliance requirements. Against this backdrop of tightening regulation, several companies, including Binance and PayPal, have suspended their crypto services in the UK.

ChainCatcher news, according to Bloomberg, last week a federal judge ordered Ripple Labs Inc. to pay a $125 million civil penalty because the company sold its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC). This fine is just a small part of the $2 billion the agency is seeking, which could be good news for other crypto companies fighting the SEC.Ripple's case began in December 2020 when the SEC sued Ripple and its executives, accusing them of "creating an information vacuum." This lawsuit united the entire crypto industry in support of XRP. More than a dozen advocacy groups wrote to U.S. District Judge Analisa Torres, supporting Ripple's position. Since then, the SEC has initiated enforcement actions against several crypto companies. However, Ripple's case is seen as a potential milestone that could set a precedent regarding whether cryptocurrencies are considered securities.The judge issued an injunction prohibiting Ripple from further violating securities laws. However, she rejected the SEC's request for Ripple to return sales profits, stating that the case "does not involve allegations of fraud, misappropriation, or other more serious conduct," and that the SEC failed to prove that Ripple's unregistered sales caused significant losses to investors.The SEC may challenge the judge's ruling in an appeal. Bloomberg Intelligence analyst Elliot Stein stated that Torres's latest ruling is favorable for Coinbase Global Inc. in its fight with the agency and may increase its chances of obtaining a favorable ruling in the case.

ChainCatcher news, citing Bloomberg via unusual_whales, reports that a dozen cryptocurrency-related companies have opened or plan to open offices in New York this year.

ChainCatcher news, according to CoinDesk, since the financial promotion rules came into effect on October 8 last year, the UK's Financial Conduct Authority (FCA) has issued over 1,000 warnings to crypto companies. Under the new rules, crypto companies must be registered with the FCA to promote to UK customers.FCA's Director of Consumer Investments, Lucy Castledine, stated in an interview that these actions have led to the removal of 48 apps from local app stores in the UK.

ChainCatcher news, according to Fortune, sources say that advisors to Harris's campaign have been in contact with major players in the crypto industry to build relationships and develop a regulatory framework.The report states that in recent days, this outreach has included cryptocurrency exchange Coinbase, stablecoin company Circle, and blockchain payment company Ripple Labs.Sources say that the message Harris wants to convey is that Democrats are "pro-business and responsible enterprises."