As the race for metaverse development continues, Shandong Province in China has released draft guidelines to develop an ambitious 150 billion yuan, or $20.5 billion, metaverse market by 2025. As part of its plan, the province seeks to develop metaverse-related
A federal court in New York has frozen the assets of Alexander Mashinsky, the former CEO of the now-bankrupt crypto lending company Celsius Network. Unsealed documents disclosed on Sept. 5 reveal that the court has targeted Mashinsky’s bank accounts and
Harvard legal scholar Christine Kim called on governments to immediately tax all income and wealth made in the metaverse, even unrealized gains. In a new research paper, Kim argues that failure to do so would turn the metaverse into a
In a landmark decision that could have far-reaching implications for the cryptocurrency industry, Judge Katherine Polk Failla of the Southern District of New York ruled Ethereum (ETH) a commodity. This determination, stemming from the Uniswap lawsuit, is particularly notable given
The U.S. federal appeals court has signaled to the U.S. Securities and Exchange Commission (SEC) to reconsider its previous decision regarding Grayscale Investments’ proposal to transition the Grayscale Bitcoin Trust (GBTC) into an Exchange-Traded Fund (ETF). According to experts, this
The U.S. Securities and Exchange Commission (SEC) on Monday charged Los Angeles-based entertainment company Impact Theory with conducting an “unregistered offering of crypto asset securities” through non-fungible tokens, or NFTs. The enforcement action, considered the first by the capital markets
In a case highlighting the pitfalls of the booming Non-Fungible Token (NFT) market, Nathaniel Chastain, the former Head of Product for leading NFT platform OpenSea, faced stern repercussions for leveraging insider information to his advantage. According to a report from
In a resounding move against deceptive practices in the financial industry, the U.S. Securities and Exchange Commission (SEC) has announced a substantial settlement with Titan Global Capital Management USA LLC. The New York-based FinTech investment adviser has been scrutinized for
Cryptocurrencies and blockchain technology are transforming as Coinbase, a cryptocurrency exchange in the United States, takes a strategic step forward. The company has secured an equity stake in Circle Internet Financial, a player in stablecoin issuance. Today Coinbase and @circle
Judge Analisa Torres of the U.S. District Court for the Southern District of New York has granted the SEC permission to apply for an interlocutory appeal in its Ripple Labs case. Judge Torres received consent after the SEC wrote on
In an interview with Cowboy State Daily, Custodia Bank’s CEO, Caitlin Long, has spoken out against the regulatory crackdown on digital assets by Washington, D.C. Long voiced opposition in the interview, stating that despite facing significant regulatory hurdles, her Bank
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