Worldcoin, the biometric identification project, and its parent company, Tools For Humanity (TFH), have been fined by the Personal Information Protection Commission (PIPC), South Korea’s data protection agency, for violating the Personal Information Protection Act. According to local media, Worldcoin did not inform data collection subjects about the collection and use purposes, retention and use […]
California Attorney General Rob Bonta has announced a $ 3.9 million settlement with Robinhood Crypto for restricting cryptocurrency withdrawals and not fully disclosing trading practices. The settlement marks the first public action by California’s Department of Justice against a cryptocurrency firm. As part of the settlement, Robinhood must allow customers to withdraw cryptocurrencies to …
The U.S. Securities and Exchange Commission (SEC) has slapped Galois Capital Management LLC with a $ 225,000 fine for falling short of the Custody Rule laid out in the Investment Advisers Act. The crypto-centric hedge fund and advisory firm was also accused of misleading investors about the redemption process. SEC Charges Galois Capital According …
The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer […]
A federal court has ordered Abner Alejandro Tinoco and his company, Kikit & Mess Investments LLC, to pay over $ 31 million for forex and cryptocurrency fraud. The order includes $ 6.2 million in restitution, $ 6.3 million in disgorgement, and an $ 18.8 million civil penalty. Tinoco and his firm …