Category crypto

U.S. CFTC moves to fold event contracts into swaps regulations as legal fight rages

The U.S. Commodity Futures Trading Commission is moving to classify political and event-based election contracts as swaps, aiming to bring them under federal regulatory oversight. This strategic pivot comes amid an ongoing, high-stakes legal battle between regulators and prediction markets over the legality of betting on future government outcomes. By folding these unique financial instruments into existing swaps regulations, the agency seeks to establish stricter compliance and market integrity standards. Industry stakeholders are closely monitoring these developments, as the outcome could fundamentally reshape the landscape of speculative event wagering in the United States.

US plans to seize $1B in crypto linked to Iran this week: Scott Bessent

The United States Treasury Department is preparing to seize approximately $1 billion in cryptocurrency linked to Iranian networks this week. Treasury Secretary nominee Scott Bessent announced the impending enforcement action, highlighting it as a major move to disrupt illicit financial flows supporting the Iranian regime. This aggressive strategy underscores the growing focus on cryptocurrency as a critical vector for state-sponsored financial evasion. By targeting these digital assets, U.S. authorities aim to severely curtail Tehran's access to global funds and undermine its regional operations. The high-stakes seizure marks a significant escalation in ongoing economic pressures against Iran.

New York permanently bars Celsius founder Mashinsky in $35M fraud settlement

New York Attorney General Letitia James has secured a permanent ban against Celsius Network founder Alex Mashinsky following a major $35 million settlement. The agreement resolves allegations that Mashinsky defrauded hundreds of thousands of investors by misleading them about the platform's financial health before its catastrophic collapse. Under the terms of the settlement, Mashinsky is completely barred from doing business in the state and prohibited from ever acting as a director or officer of any cryptocurrency or financial enterprise. This landmark legal action marks another significant milestone in ongoing regulatory efforts to crack down on deceptive practices within the volatile digital asset industry.