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Regulators around the world from Europe to Asia ramped up efforts to bring about formal laws for digital currencies in 2023 — but it was the U.S. that took some of the harshest legal actions against major players in the industry. Coinatory is a news portal dedicated to providing the latest updates on cryptocurrency, blockchain, and mining. Our mission is to keep readers informed about the most significant and exciting developments in the crypto world, including updates on new coins as they emerge.

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CryptoSlate’s latest market report dives deep into Bitcoin ETF options, their role in the market, and their potential to reshape institutional crypto trading. «Dubai and the UAE have created favorable conditions for cryptocurrency businesses, offering specific zones and guidelines for crypto trading,» said Perry. The U.K., a non-member of the EU, passed a law in June that gives regulators the ability to oversee stablecoins. Concerning criminal enforcement, Damian Williams, the U.S. attorney for the Southern District of New York, has been leading some of Justice’s highest-profile crypto prosecutions, including the monthlong trial of Bankman-Fried, the disgraced FTX founder. In November, a jury found the former FTX chief executive guilty of all seven criminal counts against him following a few hours of deliberation.

Richard Levin, a partner at Nelson Mullins Riley & Scarborough who has represented clients before the SEC, CFTC, and Congress, tells CNBC that these agencies have been some of the most active enforcers around the world concerning the regulation of digital assets and cryptocurrencies. Last year the SEC sued Sun and his companies with securities fraud for allegedly manipulating the value of a cryptocurrency and paying celebrities including Lindsey Lohan, Ne-Yo, and Jake Paul to promote the assets without disclosing they had been paid. Sun and his companies have denied wrongdoing, and the celebrities have settled the case without admitting or denying the allegations. The law, initially proposed in 2019 as a response to Meta’s digital currency project Diem, formerly known as Libra, aimed to clean up fraud, money laundering and other illicit financing in the crypto space, and stamp out the sector’s bad actors more broadly.

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«Clearer regulatory frameworks and stance from regulators globally have provided a sense of legitimacy and security, encouraging more widespread participation in the bitcoin market,» Alyse Killeen, managing partner of Stillmark Capital, told CNBC. Coinbase CEO Brian Armstrong condemned the SEC’s actions against the exchange and suggested the company may be forced to move its headquarters overseas. Armstrong later walked back the threat of relocating abroad, but Coinbase and other major crypto firms have still begun to invest more heavily in their international operations.

In approximately January 2022, Meissner obtained a 50 Ethereum (approximately $170,000) loan from his employer, stating that he would use the funds in an attempt to avoid a substantial loss in certain cryptocurrency investments he had made using his personal funds. Then, from February 2022 until his termination in November 2022, in continued attempts to counteract significant personal trading losses, Meissner fraudulently diverted his employer’s funds to his own use and covered up his conduct through false entries in the firm’s books and records. Anton and James Peraire-Bueno were charged with wire fraud and conspiracy to commit money laundering. Investigators accused them of spending months plotting their theft within the Ethereum blockchain, baiting their victims and establishing shell companies to hide their illicit profits. Even as U.S. lawmakers take steps toward crypto legislation, there remains no law in the U.S. tailored specifically for the industry. Nelson Mullins Riley & Scarborough’s Levin tells CNBC it’s unlikely that we’ll see much progress in a presidential election year and with a divided federal government.

«The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump!» Sun wrote on X announcing his investment. «President Trump removed himself from his multi-billion-dollar real estate empire to run for office and forewent his government salary,» Trump-Vance transition spokesperson Karoline Leavitt said in a statement to ABC News. «Unlike most politicians, President Trump didn’t get into politics for profit — he’s fighting because he loves the people of this country and wants to make America great again.» «It’s hard to have more influence when you’re talking about money in politics than someone who just directly gave you eight figures,» said Jordan Libowitz, a vice president at the progressive watchdog group Citizens for Responsibility and Ethics in Washington. They were arrested on Tuesday and are expected to make their initial appearances in New York and Boston federal courts on Wednesday. Investigators said the defendants’ plot took months to plan but just 12 seconds to execute, allegedly raking in approximately $25 million from their unwitting victims.

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District Judge Janet C. Hall in New Haven to 60 months of imprisonment, followed by three… JAMES BLOSE, 56, of Fairfield, waived his right to be indicted and pleaded guilty today in New Haven federal court to offenses stemming from a decade-long embezzlement scheme at banks… Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that DYLAN MEISSNER, 31, of Westport, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to 48 months of imprisonment, followed by two years of supervised release, for stealing more than $4 million from his former employer. «They’re trying to take advantage of President-elect Trump’s popularity and the fact that he just won an election, and see if they can get this business up and running and off the ground,» said Scott Amey, general counsel at the watchdog Project on Government Oversight. After his $30 million investment, World Liberty Financial named Sun an adviser, saying that his «insights and experience will be instrumental» to the company’s growth.

Prosecutors said the duo even rejected repeated requests from a victim, the victim’s attorney and an Ethereum representative to return the cryptocurrency. «In doing so, they fraudulently gained access to pending private transactions and used that access to alter certain transactions and obtain their victims’ cryptocurrency,» prosecutors alleged in court documents. Washington — A pair of brothers from New York and Boston were taken into federal custody Tuesday, accused by prosecutors of devising a novel criminal scheme to steal about $25 million in cryptocurrency from a commonly used blockchain, according to a newly unsealed indictment. «Trump’s stance on decentralized finance (DeFi) and crypto has been somewhat inconsistent,» Delphi Ventures General Counsel Sarah Brennan told Investopedia.