Lawyers seeking to seize $71 million in frozen ether for victims of North Korean terrorism changed their legal strategy Tuesday, arguing in a new court filing that the April 18 rsETH exploit was not theft but fraud, directly countering Aave’s attempt to void a restraining notice blocking the release of the assets. In a 30-page […]
Prediction markets have a consistent line: their products are financial instruments, not bets. Wisconsin isn’t buying it, and in a new complaint targeting Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com, the state is citing the companies’ own marketing to call them unlicensed gambling venues. “Thinly disguising unlawful conduct doesn’t make it lawful,” Attorney General Josh Kaul […]
Commodity Futures Trading Commission Chairman Mike Selig told CoinDesk that the agency will continue to defend its “exclusive regulatory authority” to oversee prediction markets in court. “It doesn’t matter if it’s on sports, politics or anything else, if it’s a validly offered product within a CFTC-regulated exchange, then we regulate that,” Selig said. You’re reading […]
A federal appeals court rejected the final bid of crypto bank Custodia to challenge the U.S. Federal Reserve’s authority over granting master accounts, but the decision arrives at a time that the central bank is opening other avenues for such accounts. A Fed master account grants access to the central bank’s payment rails and full […]