Recent events in cryptocurrency and financial markets highlight significant legal moments. SEC has reached an agreement with Robinhood, while Binance faces a denied appeal. The US charges three Russian nationals with crypto laundering.
Details of Robinhood's Settlement
Robinhood agreed to a $45 million settlement with the SEC after an investigation revealed more than ten violations of securities law. The penalty affects Robinhood Securities LLC and Robinhood Financial LLC, which failed to meet various regulatory requirements, including inaccuracies in reporting trading activity and delays in suspicious activity reports. SEC also found non-compliance with Regulation SHO and inadequate customer data protection.
Supreme Court Denies Binance Appeal
The US Supreme Court declined Binance's appeal in a class-action lawsuit alleging the sale of unregistered tokens. The case against Binance continues, adding to its legal troubles in the US, where it faces accusations of selling unregistered securities and violating anti-money laundering laws.
Russians Charged with Crypto Laundering
Three Russian nationals, Roman Ostapenko, Alexander Oleynik, and Anton Tarasov, are charged with laundering funds through crypto mixers Blender.io and Sinbad.io. The charges alleged their mixing services facilitated laundering proceeds from cybercrimes. The US Department of the Treasury sanctioned Blender.io for its role in laundering funds through North Korea's Lazarus Group.
These developments indicate significant regulatory oversight increases in the cryptocurrency sector, both in the US and globally. Future actions could seriously impact the relationship between cryptocurrency companies and regulators.
