The banking giant said that amid the rapidly rising interest in cryptocurrencies scammers are capitalizing on these trends and diverting funds to crypto exchanges.

The SEC said that the restraining order is necessary to “prevent the dissipation of available assets for any judgment, given the Defendants’ years of violative conduct, disregard of the laws of the United States.”

The SEC has accused crypto exchange Coinbase for operating as an unregistered securities broker and violating the federal securities laws.

The SEC accused Binance for flouting basic KYC rules as well as using the affiliate firm Binance.US as a shield for the global entity.

JPMorgan said that retail investors have started seeing Bitcoin as a hedge in catastrophic scenarios and that “retail investor demand for bitcoin is likely to strengthen as we approach the April 2024 halving event”.

Elon Musk faces accusations of insider trading and market manipulation in a proposed class action lawsuit filed by Dogecoin investors, claiming he defrauded them while promoting himself and his companies.

Circle removes reserves from US Treasuries to any sort of turbulence in the bond market as the US lawmakers have been scrambling to avoid the first government default.

The guideline from the UAE Central Bank also outlines due diligence procedures which the financial institutions need to follow while dealing with the customers of virtual assets service providers (VASPs).

Russia plans to create regulatory framework that would have reduced risks of sanctions, concerns over market dominance, and cyberattacks on infrastructure.

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