Law & Policy

What happened in the crypto industry last week (Sep 23-29)?

1/ Binance Founder CZ Released from Custody: On September 27, 2024, Binance founder Changpeng Zhao (CZ) was released from prison after serving four months for money laundering violations.

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1/ Binance Founder CZ Released from Custody: On September 27, 2024, Binance founder Changpeng Zhao (CZ) was released from prison after serving four months for money laundering violations.
https://techcrunch.com/2024/09/27/binance-founder-cz-released-from-custody-after-four-month-sentence/?guccounter=1
https://twitter.com/nikhileshde/status/1785357372841771512

2/ BNY Mellon Receives SEC Approval for Crypto Custody: Bank of New York Mellon Corp (BNY Mellon) obtained SEC approval on September 26 to store cryptocurrencies, ensuring client asset protection in compliance with regulatory standards.

2/ BNY Mellon Receives SEC Approval for Crypto Custody: Bank of New York Mellon Corp (BNY Mellon) obtained SEC approval on September 26 to store cryptocurrencies, ensuring client asset protection in compliance with regulatory standards.
https://www.bloomberg.com/news/articles/2024-09-26/bny-structure-approved-by-sec-for-crypto-custody-beyond-etfs-gensler-says

3/ PayPal Expands Crypto Services for Business Accounts: PayPal announced the expansion of its crypto services, allowing US business account holders to buy, hold, and sell cryptocurrencies directly from their accounts.

3/ PayPal Expands Crypto Services for Business Accounts: PayPal announced the expansion of its crypto services, allowing US business account holders to buy, hold, and sell cryptocurrencies directly from their accounts.
https://newsroom.paypal-corp.com/2024-09-25-PayPal-Enables-Business-Accounts-to-Buy,-Hold-and-Sell-Cryptocurrency

4/ Telegram Wallet Suspends UK Users: Telegram’s Wallet service has paused support for UK users until registration with the FCA is complete, promising fee-free asset withdrawals post-registration.

4/ Telegram Wallet Suspends UK Users: Telegram’s Wallet service has paused support for UK users until registration with the FCA is complete, promising fee-free asset withdrawals post-registration.
https://t.me/wallet_status/6

5/ Kraken Acquires Dutch Crypto Broker Coin Meester: Kraken has acquired Coin Meester (BCM), enhancing its presence in the Netherlands and securing a VASP license to operate in France and Poland.

6/ Mango DAO and Partners Settle with SEC: Mango DAO, Blockworks Foundation, and Mango Labs have settled with the SEC, agreeing to pay $700,000 in fines and destroy MNGO tokens for unregistered securities offerings.

6/ Mango DAO and Partners Settle with SEC: Mango DAO, Blockworks Foundation, and Mango Labs have settled with the SEC, agreeing to pay $700,000 in fines and destroy MNGO tokens for unregistered securities offerings.
https://www.sec.gov/newsroom/press-releases/2024-154
https://app.realms.today/dao/MNGO/proposal/9Ex2wAACZ928p5kMHUQcgruivFvKXZRichiuDy9iVgsL

7/ NY Judge Denies Dismissal of Charges Against Tornado Cash Co-founder: A judge has denied the motion to dismiss charges against Roman Storm, co-founder of Tornado Cash, leading to his court appearance on December 2, 2024.

7/ NY Judge Denies Dismissal of Charges Against Tornado Cash Co-founder: A judge has denied the motion to dismiss charges against Roman Storm, co-founder of Tornado Cash, leading to his court appearance on December 2, 2024.
https://twitter.com/amandatums/status/1839424351495725232

8/ US Sanctions Russian Crypto Exchanges PM2BTC and Cryptex: The US Treasury has sanctioned Russian crypto exchange PM2BTC and Cryptex for facilitating money laundering, with a $10 million bounty offered for information leading to the arrest of their operators.

8/ US Sanctions Russian Crypto Exchanges PM2BTC and Cryptex: The US Treasury has sanctioned Russian crypto exchange PM2BTC and Cryptex for facilitating money laundering, with a $10 million bounty offered for information leading to the arrest of their operators.
https://home.treasury.gov/news/press-releases/jy2616
https://twitter.com/StateINL/status/1839325286447673473

5/ Kraken Acquires Dutch Crypto Broker Coin Meester: Kraken has acquired Coin Meester (BCM), enhancing its presence in the Netherlands and securing a VASP license to operate in France and Poland.
https://blog.kraken.com/news/kraken-bcm