A D.C. federal magistrate judge signed off on the Justice Department's criminal prosecution of an individual for allegedly using cryptocurrency to help customers evade U.S. sanctions, according to documents filed in D.C. federal court.
The U.S. Securities and Exchange Commission can't use attorney-client privilege to shield early drafts of former official Bill Hinman's speech about cryptocurrencies, since Hinman gave the speech in his personal capacity, Ripple Labs told a New York federal court.
The multibillion-dollar collapse of stablecoin TerraUSD and its sister cryptocurrency, Luna, could light a fire under lawmakers and regulators who have already been pushing for greater stablecoin regulation, attorneys told Law360.
Coinbase has updated its risk disclosures to reflect new U.S. Securities and Exchange Commission guidance about holding cryptocurrencies, CEO Brian Armstrong said as he sought to calm customers' nerves about what would happen to their holdings in the event of a bankruptcy.
A mass selloff of stablecoin TerraUSD that caused the asset's price to plunge far below $1 is a further warning sign that the cryptocurrency can present a risk to financial stability, U.S. Department of the Treasury Secretary Janet Yellen told senators on Tuesday.