Crypto

Nova Labs Inc. Under SEC Scrutiny for Alleged Unregistered Crypto Asset Sales

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Nova Labs Inc., a prominent technology company, is currently under scrutiny by the U.S. Securities and Exchange Commission (SEC). The allegations suggest that the company may have breached federal securities laws through its distribution of “hotspot” crypto asset mining devices, which are said to be unregistered investment contracts. This controversy touches on broader issues within the rapidly evolving cryptocurrency mining industry, where regulatory frameworks struggle to keep pace with technological advancements. According to the SEC, Nova Labs Inc. implemented a strategy aimed at circumventing established securities laws, thereby raising questions about the legalities of crypto … Read more

Pro-XRP Lawyer Advocates for SEC to Conclude ‘Crypto Wars,’ Citing Stifled Innovation and Industry Burdens

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WASHINGTON — Pro-XRP attorney John E. Deaton has recently voiced a call to U.S. regulators for a cessation of the ongoing disputes known as the “crypto wars,” prominently led by the Securities and Exchange Commission (SEC). Deaton criticizes these legal engagements, which have targeted major cryptocurrency firms such as Ripple Labs, LBRY, and Coinbase, for placing considerable financial and operational strains on the industry. He argues that these actions hinder innovation and cause significant losses in opportunities across the sector. Ripple Labs, which is behind the digital currency XRP, has incurred over $150 million in … Read more

Shaquille O’Neal Agrees to $11 Million Settlement for Injured Crypto Investors in NFT Lawsuit

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MIAMI — On Tuesday, a federal judge in Miami gave the initial green light to an $11 million settlement fund, stemming from a class-action lawsuit involving famed former basketball player Shaquille O’Neal. This preliminary agreement addresses claims from investors who allege they suffered financial losses linked to the Astrals Project nonfungible tokens (NFTs) and GLXY tokens. The Moskowitz Law Firm, helmed by managing partner Adam Moskowitz in Coconut Grove, Florida, represents the certified class of affected investors. Moskowitz, alongside his colleague Joseph M. Kaye and the team from Mark Migdal Hayden, including Jose M. Ferrer … Read more

Crypto Law Founder Urges SEC to Unveil Report on Ethereum Speech Amid Conflict of Interest Concerns

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WASHINGTON — In a recent online broadcast, John Deaton, founder of Crypto Law, issued a public appeal to the Securities and Exchange Commission (SEC) demanding the release of a long-awaited report concerning a 2018 speech by former SEC official, William Hinman. The speech, which effectively cleared Ethereum of stringent regulatory scrutiny, has sparked debates over possible conflicts of interest at the SEC. Deaton’s plea underscores a broader call for transparency within financial regulatory agencies amidst an evolving digital asset landscape. The concerns stem from a speech delivered by Hinman at the Yahoo Finance All Markets … Read more