Cointelegraph By Turner Wright
The MicroStrategy executive speculated that the SEC would consider Ether, BNB, Solana, XRP, and Cardano unregistered crypto asset securities.
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Lawyers for the firm claimed that any alleged losses caused by the platform’s or Do Kwon’s actions happened outside the United States, beyond the SEC’s authority in the civil case.
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According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.
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A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.
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If incorporated into U.S. tax law, the bill would require block rewards from proof-of-work and proof-of-stake networks to be taxed when sold rather than when they were acquired.
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One former CEO went to trial and maintained his innocence, one admitted fault and turned himself in.
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The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
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Changpeng Zhao, also known as CZ, pleaded guilty in November to violating U.S. money laundering laws and had been free to travel in the United States on a $175 million bond.
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The chair of the U.S. House Financial Service Committee alluded to claims in Consensys’s recent lawsuit against the SEC, suggesting an investigation into Ether as a security.
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Lawyers for Terraform claimed that seeking disgorgement from the platform would involve the Luna Foundation Guard, a “non-party” in the SEC’s civil case.
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