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 …
An Airbnb host, Ashley, shared her experience on Tiktok about guests who accumulated a $ 1,500 electricity bill by setting up an electric vehicle station and mining cryptocurrency during their three-week stay. Despite leaving the property in excellent condition, the guests’ excessive energy use, captured on external security cameras showing them bringing in 10 …
Nigerian Justice Emeka Nwite recently set October 11 as the date for ruling in the trial of Binance Holdings Limited, a popular cryptocurrency platform. The platform and its two directors face a four-count tax evasion charge for failing to register with the Federal Inland Revenue Service (FIRS). Binance’s lawyer Ayodele Omotilewa pleaded not guilty to […]
On Wednesday, Federal Reserve Chair Jerome Powell testified before the U.S. House Financial Services Committee, where Congressman Josh Gottheimer (D-NJ) questioned him about the SEC’s Staff Accounting Bulletin (SAB) 121. This bulletin mandates that banks include digital assets held in custody on their balance sheets, significantly raising the cost of providing digital asset custody services. […]
Crypto Freedom Alliance of Texas and Blockchain Association filed a motion on May 17 to vacate the U.S. Securities and Exchange Commission (SEC)’s new Dealer Rule. The plaintiffs’ counsel argues that the SEC’s expanded definition of “dealer” exceeds its statutory authority under the Securities Exchange Act, particularly affecting the digital asset industry. The brief asserts […]