• DCG is in discussion with capital providers amid Genesis mediation.
• Coinbase’s Paul Grewal has said that the SEC proposed custody rule ‘unnecessarily singles out crypto’.
• Bittrex files for US bankruptcy; will not halt global operations.
DCG in Discussion with Capital Providers
Digital Currency Group (DCG) is “in discussions” with capital providers amidst mediation between it and Genesis Global Trading Inc., according to a recent report. The two companies have been embroiled in a legal dispute since May 2020, when DCG sued Genesis claiming breach of contract and fraudulent inducement.
SEC Custody Rule ‚Unnecessarily Singles Out Crypto‘
Coinbase’s Chief Legal Officer, Paul Grewal, has spoken out against the U.S Securities and Exchange Commission’s recent proposals to revise federal custodial requirements for registered investment advisors (RIAs). He believes that these requirements would „unnecessarily single out crypto assets“. Marisa Tashman Coppel, Policy Counsel for the Blockchain Association, had previously warned that the SEC’s rules could „drastically curtail“ investments in cryptocurrency.
Kim Jong-Un Approved For Gate.io Crypto Account
Gate.io recently approved a account application from an individual who claimed to be North Korean leader Kim Jong-Un, according to a statement released by the company on April 25th 2021. The application was approved as Gate.io did not require any supporting documents due to its policy of KYC free registration, however after realising their mistake they quickly deactivated the account and refunded all deposits made by Mr Un..
SBF Says Charges Against Him ‚Suffer From Multiple Legal Flaws‘
Samson Benford Fray Jr., also known as SBF or ‚The Wolf Of Wall Street‘, has said that most charges against him ‘suffer from multiple legal flaws’ following his arrest on April 15th 2021 after he allegedly operated an unregistered bitcoin trading platform Coinseed Inc.. SBF claims that Coinseed was operating legally and had requested both state and federal license prior to being arrested but had been denied both times due to political reasons..
Bittrex Files For US Bankruptcy
Bittrex recently filed for Chapter 11 bankruptcy protection in order to reorganize its finances while it continues global operations unaffected by the filing.. The exchange will attempt to restructure itself via debt relief negotiations with creditors whilst still continuing its normal business operations globally without disruption .