A federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay legal costs for DEBT Box, a Utah-based crypto company, after finding that the regulator had committed a "gross abuse of power" in its efforts to secure a temporary restraining order against the company. The SEC had sued DEBT Box last year, alleging fraud and securing a temporary asset freeze and restraining order against the company. However, Chief Judge Robert Shelby found that the SEC's attorneys had misled the court both in applying for the temporary restraining order and afterward, and ordered the regulator to pay defendants' and receivers' fees as part of the court's sanctions. The SEC is currently reviewing the decision.
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Federal Judge Rules SEC Must Pay Legal Costs for Crypto Company After "Gross Abuse of Power"
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The State Council Tariff Commission: Additional tariffs will be imposed on some imported goods originating from the United States
The State Council Tariff Commission issued a notice: with the approval of the State Council, tariffs will be imposed on some imported goods originating in the United States from February 10, 2025. A 15% tariff will be imposed on coal and liquefied natural gas, and a 10% tariff will be imposed on crude oil, agricultural machinery, large-displacement cars, and pickups. (Jinshi) -
Thailand SEC plans to launch tokenized securities trading system
According to a report from the Bangkok Post on February 3, Jomkwan Kongsakul, Deputy Secretary-General of the Thai Securities and Exchange Commission, stated that token investment is increasingly being taken seriously, and regulatory agencies will allow securities companies to trade digital tokens to leverage their large investor base. Jomkwan Kongsakul said, "The SEC is using technology to improve the efficiency of the capital market by promoting the electronic securities ecosystem," adding, "New regulations will be introduced to promote the issuance of electronic securities and online purchase of bonds," which are medium- to long-term debt instruments that large companies use to borrow money. -
Dennis Porter: At least 13 states are developing “strategic bitcoin reserve” legislation
Satoshi Action Fund (SAF) co-founder and CEO Dennis Porter stated in a post on X platform that it can be confirmed that at least 13 states are drafting legislation for "strategic bitcoin reserves". January will be a record-breaking month for bitcoin policy. -
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Dennis Porter, co-founder and CEO of the Bitcoin advocacy organization Satoshi Act Fund, announced on X platform that the team will launch another "Bitcoin Strategic Reserve" bill next week. -
Hong Kong's Stablecoin Bill is gazetted and is expected to be submitted to the Legislative Council for first reading on December 18
On December 6th, according to the Hong Kong Special Administrative Region Government News Bulletin, Hong Kong today published the "Stablecoin Regulation Bill" in the constitutional report to introduce a regulatory system for fiat currency stablecoin issuers in Hong Kong. The "Bill" aims to improve the regulatory framework for virtual asset activities to address the potential risks posed by fiat currency stablecoins to financial stability, ensure that users have sufficient protection, and leverage the benefits of virtual assets and related technologies. Under the proposed licensing system, anyone engaging in any of the following activities must first obtain a license from the Commissioner of Financial Management: -
Trump: David Sacks will work to establish a legal framework for encryption to ensure that the encryption industry thrives in the United States
Trump stated in his appointment letter to David Sacks that Sacks will be dedicated to establishing a legal framework that provides clarity to the cryptocurrency industry and enables it to flourish in the United States. -
Australia’s financial regulator proposes new crypto rules, emphasizing risks and mitigation measures
Australian Securities and Investments Commission (ASIC) has released a consultation paper suggesting updates to its regulatory guidelines for digital assets, with a focus on compliance requirements under the Corporations Act. The revisions to Information Sheet 225 (INFO 225) include 13 worked examples aimed at clarifying when digital assets qualify as financial products, such as stablecoins, packaged tokens, and staking services. In these examples, ASIC outlines scenarios involving exchange tokens, interest-bearing stablecoins, and tokenized assets such as concert tickets. The draft guidance proposes that classification depends on "inherent rights, interests, expectations, and product features that are offered together with the token." ASIC encourages cryptocurrency companies to apply for an Australian Financial Services License, providing them with a safe harbor from legal action. -
Trump pledges to fire SEC Chair Gary Gensler ‘on day one’ if reelected
The Republican candidate laid out a plan for crypto policies should he win in November against prospective Democratic presidential nominee Kamala Harris.
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Cointime June 29th News Express
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The US SEC has returned the S-1 form to the potential Ethereum ETF issuer with a few comments, asking it to fix the problem and resubmit.
The US Securities and Exchange Commission has returned the S-1 form to the potential Ethereum ETF issuer with some comments, asking them to address the issues and resubmit. Sources say that at least one more round of review is needed before these measures can take effect. The issuer has reportedly been asked to address these comments and resubmit before July 8th. Sources note that this will not be the final declaration after the form is returned, meaning that at least one more declaration is needed before the ETF can begin trading.
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