Law & Policy

What happened in the crypto industry last week (April 1-7)?

1/ Several amicus briefs were submitted in the case against Roman Storm by Coin Center, DeFi Education Fund, and Blockchain Association, emphasizing the erroneous nature of holding developers liable and the immutable characteristics of smart contract pools.

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Head of web3&crypto practice at Buzko Krasnov law firm

3/ The court has found Do Kwon and Terraform Labs guilty of fraud in the SEC case. Previously, the SEC accused Do Kwon and his company of misleading investors about the stability of their "algorithmic" stablecoin, Terra USD (UST), and the various applications of the Terra blockchain.

4/ FTX creditors will begin to receive the first payments by the end of 2024.

5/ Lithuania will introduce a licensing regime for crypto companies by June 2025.

2/ Coinbase has obtained a restricted dealer license in Canada. This status allows the company to operate officially with certain modifications. The terms are individual in each case, as firms with such a license do not fall into any of the existing categories.