Do Kwon was arrested, SEC sues Justin Sun, SEC has threatened to sue Coinbase | Weekly Updates

The US SEC has previously tried hundreds of steps to halt the development of the cryptocurrency industry, but the market has remained resilient.

Microsoft tests crypto wallet

Microsoft is reportedly adding a Crypto Wallet feature to its Edge browser so users can store, send, and receive bitcoin cash as well as NFTs. 

References to Microsoft internal testing, according to “Windows Central,” imply that the new Crypto Wallet capability is still being developed.

The crypto wallet is “integrated into Edge, making it easy to use without installing any plugin,” and it can handle a variety of cryptocurrencies. Moreover, it will monitor transactions and variations in the value of each of your currencies. On the “explore” page, you can read cryptocurrency news items, and under the “assets” tab, you can view your NFTs. As the wallet is “non-custodial” (sometimes referred to as “self-custodial”), you alone are in control of and accountable for the recovery keys and passwords that allow access to your money. Microsoft won’t be able to re-enter you if you forget your login credentials.

Justin Sun is being sued by the SEC for TRX and BTT

The Tronix (TRX) and BitTorrent (BTT) tokens were sold, according to the SEC, as unregistered securities backed by digital assets. The regulator announced in a press release that it was bringing legal action against Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent (now known as Rainberry). The regulator also charged the defendants with engaging in “extensive wash trading” to “fraudulently manipulate” the TRX secondary market.

Many influencers have been charged by the SEC for advocating tron without disclosing that they were paid for their endorsement.

United States SEC has warned to sue Coinbase

Coinbase stated on Wednesday that the Securities and Exchange Commission has alerted Coinbase Global Inc. that it plans to take enforcement action against the company, stepping up its campaign against cryptocurrency firms by concentrating on the biggest U.S. exchange.

Coinbase claims that the SEC notified it via a letter known as a Wells notice that the business may have broken investor protection laws. Any legal proceedings or agreements relating to enforcement must be approved by the commissioners of the SEC before the notice will be deemed effective.

Terra’s founder Do Kwon was arrested

Kwon is charged with falsifying paperwork. Local media said that Kwon used fake passports from Belgium and Costa Rica.

When they prepared to board an aircraft for Dubai, he and another person, Hon Chang Joon, were both taken into custody. Other items taken from them were three computers and five cell phones.

The Council of Europe states that Montenegro will only extradite people by bilateral agreements and that it will transfer such people within 30 days after gaining authorization for extradition.

Sushi subpoenaed by the SEC

According to Jared Grey’s post on Sushi’s forum, a $3 million legal defense fund has purportedly been provided to cover the costs associated with the SEC’s subpoenas, including investigations, litigation, and other issues concentrating on core donors. The objective is to establish a legal organization that will reduce the legal obligations of the DAO and its main donors.

“We are working together with the SEC. We do not want to publicly comment on ongoing investigations or any legal issues, said SushiSwap Head Chef Jared Grey. It was suggested that all core contributors who made contributions between the ratification of Sushi 2.0 and the day the subpoenas were issued will be included in the legal defense fund.

The Binance team helps Chinese users avoid KYC requirements

To utilize the exchange’s debit card, mainland Chinese individuals reportedly received information—including video tutorials—from Binance employees, volunteers, and other users of the service.

Along with warnings about crackdowns on domestic and international crypto exchanges operating on the mainland, Chinese authorities have regularly encouraged residents to steer clear of the digital asset market.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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