Civilization(CIV)

The former Ethereum adviser has retained well-known civil liberties lawyer Alan Dershowitz to serve as a consultant on constitutional issues in the case.

NEW YORK – Lawyers for the U.S. Securities and Exchange Commission (SEC) rested their case against Terraform Labs and its co-founder, Do Kwon, on Friday, releasing a New York jury to decide whether Kwon and his company are liable for allegedly misleading investors about the stability of Terra USD (UST) and its integration with a Korean mobile payments app.

The United States Attorney’s Office in Massachusetts filed a civil forfeiture action on Wednesday aimed at returning $2.3 million in cryptocurrency to 37 victims of online scams and fraud.

The freezing of crypto assets destined for the trucker protests had been lambasted by civil liberties advocates and others at the time.

Brian Armstrong sees Bitcoin as vital for Western civilization's success, highlighting cryptocurrency's role against inflation.

The Federal Trade Commission (FTC) unanimously approved a measure to streamline its staff’s ability to issue civil investigative demands (CIDs) in AI investigations while retaining its authority to determine when CIDs are issued.

The U.S. Justice Department, Treasury, and CFTC are reportedly planning to announce settlements for many of the criminal and civil cases against Binance and CZ on Nov. 21.

Chinese court knocks back civil lawsuit over “illegal” crypto, Hong Kong exchanges gain momentum, The Block gets $60M from Singapore firm.

While the XRP community celebrated the significant legal win for Ripple in the civil case lodged by the SEC in December 2020, a legal expert speculated that dropping the lawsuit against Brad Garlinghouse and Chris Larsen could suggest the SEC is...

The civil lawsuit against the Ripple executives had been ongoing since December 2020.

CPI joins macro data coming in higher than predicted — something not conducive to BTC price upside, Bitcoin analysts continue to imply.

The freeze does not affect Binance accounts owned by ordinary Palestinian civilians.

Crypto companies have come together in a bid to help civilians who've fallen victim to the recent attacks.

ASIC takes legal action against Bit Trade Pty Ltd for breaching design and distribution obligations (DDO) in margin trading, causing customer losses.

The majority of the tech leaders in attendance agreed that AI needs to be regulated with Elon Musk calling the meeting a game changer for civilization.

A recent court order grants W&K Info Defense civil sanctions against Wright for incomplete financial disclosures, yet stops short of bringing criminal charges against the so-called inventor of Bitcoin.

Mashinsky was arrested in July and is facing civil and criminal charges stemming from his involvement with the now-defunct Celsius.

The former Celsius CEO was arrested on July 13 and faces criminal and civil charges stemming from his involvement in the now-defunct platform.

London, United Kingdom, August 29th, 2023, Chainwire Socrates is a web3 social media and educational platform based on the Polygon blockchain Following extensive testing, the platform will launch to the public on 12th September 2023 The platform allows anyone to participate in multiple-choice questions and answers, with rewards distributed for interacting The organisation aims to provide a platform offering new levels of discussion, insight and thought across geographical boundaries Socrates, a web3 social media and educational platform based on the Polygon blockchain, has announced their highly-anticipated public launch on 12th September 2023. Following a comprehensive testing phase, Socrates is poised to redefine online interactions by providing a dynamic space for open debate and knowledge sharing. The platform enables users globally to earn rewards by easily creating and answering multiple-choice questions in-app, discussing any topic, from politics and science, to sports and entertainment. Individuals can also give reasons and like comments to further support their opinions. Utilising an intuitive user interface and blockchain technology, it will offer an uncomplicated overview of diverse perspectives, reducing spam and promoting the circulation of valuable and high-quality content. Uniquely, they've created an incentivised model where any interaction contributes to the question's prize pool. Once a question closes, potential rewards are distributed, stimulating meaningful conversations among participants. With web2 social media currently directing collective human thoughts and popular AI language technology providing standardised answers, Socrates emerges as a beacon of change. Combining the best of Social-Fi and Game-Fi, Socrates' mission is to explore how web3 technology can foster a new era of exploration and engagement. By creating a revolutionary platform encouraging free speech, it aims to combat misinformation and offer diverse human thoughts on issues in a secure environment. "We're hugely excited to enter the last phase of testing before we publicly launch. By leveraging the potential of web3 technology, we're enabling societies to understand new ways of thinking that transcend geographical and cultural boundaries," said Lottie Wells, Head of PR at Socrates. "12th September 2023 will mark a new chapter in empowerment and engagement." From 12th September 2023, the organisation invites users to join the debate by signing up and experiencing Socrates at socrates.xyz. About Socrates Socrates is a global web3 social media and educational platform based on the Polygon blockchain, where users earn by participating in multiple-choice Q&As, debating and sharing knowledge. Combining the best of Social-Fi and Game-Fi, the organisation aims to explore the power of technology to reshape the world and new ways of collective thinking. It is named "Socrates" because it revolves around the core concept of "multiple-choice questions without standard answers" and embodies the spirit of thinking and dialectics. The function of the Socrates product lies in inspiring individuals to engage in dialectical thinking on a range of issues. The product aims to counteract the biased and extreme tendencies prevalent in mainstream social media's approach to societal problems, and seeks to propel human society towards a more rational, inclusive, equal and open direction. Furthermore, it harnesses collective wisdom to expand the boundaries of human thinking. Socrates aspires to showcase individuals' diverse perspectives, choices and debates on different issues to the world. In doing so, we aim to promote mutual understanding and inclusivity among individuals, nations, and countries. Our goal is to foster healthy competition and lasting peace in human society, thereby contributing to the exploration of new kinds of civilisation for humanity. Integral to Socrates' mission, they've developed a robust strategy ensuring the development of high-quality content in a concise way, that minimises spam and provokes engagement like never before. The platform has created an incentivised ecosystem where any interaction on the platform gives the chance to earn rewards. Utilising an innovative and intuitive UI with blockchain technology, Socrates focuses on transparency and security, offering users web3's unparalleled privacy features and the reduction of spam. Website | Twitter | Discord | Telegram Contact Charlotte [email protected]

According to John Reed Stark, the U.S. Justice Department may intend to indict or already indicted Binance, suggesting a motion in civil court was aimed at keeping this secret.

The US SEC charged Impact Theory with the “unregistered offering of crypto asset securities.” The LA-based entertainment company has paid a $6 million settlement following the charges. On Monday, the SEC announced charging the LA-based Impact Theory with an unregistered securities offering. The agency claims Impact’s 2021 NFT launch falls under an unregistered securities offering. SEC: Impact Theory’s NFT Launch Is an Investment Contract In a press release, the SEC claimed the company conducted “an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs).” According to the SEC, Impact Theory raised approximately $30 million from hundreds of investors through its 2021 offering. The securities agency claims that from October to December 2021, Impact offered and sold three tiers of NFTs, known as Founder’s Key, which the company called “Legendary,” “Heroic,” and “Relentless.” The press release explains Impact Theory “encouraged potential investors to view the purchase of a Founder’s Key as an investment into the business, stating that investors would profit from their purchases if Impact Theory were successful in its efforts.” The company allegedly stated that it was “trying to build the next Disney,” and if successful, would deliver “tremendous value” to Founder’s Key purchasers. The SEC’s order, therefore, found that Impact’s NFT sales to investors were investment contracts and, thus, securities. The securities agency established that Impact Theory violated federal securities laws by offering and selling these NFTs to the public without the necessary registration. Antonia Apps, Director of the SEC’s New York Regional Office, said: “Absent a valid exemption, offerings of securities, in whatever form, must be registered.” Adding, “Without registration, investors of all types are deprived of the protections afforded them by the robust disclosures and other safeguards long provided by our securities laws.” Impact Theory Settles with the SEC Impact Theory agreed to a cease-and-desist order in a settlement agreement, finding it violated the Securities Act of 1913. Without admitting or denying the agency’s findings, Impact Theory also agreed to pay $6.1 million in “disgorgement, prejudgement interest, and a civil penalty.” The company further agreed to destroy all Founder’s Keys in its possession or control, publish a notice of the SEC’s order on its website and all social media channels, and eliminate royalties that it might receive from future secondary market sales involving the NFTs. The SEC’s order also established a “Fair Fund” to return funds investors paid to buy the Founder’s Keys. The order against Impact Theory is the first NFT enforcement action the SEC has brought. In a statement, SEC Commissioners Hester Peirce and Mark Uyeda disagreed with the SEC’s claims. They said: “We dissented in part because we disagreed with the application of theHoweyanalysis. Regardless of what one thinks of theHoweyanalysis, this matter raises larger questions with which the Commission should grapple before bringing additional NFT cases.” The Commissioners added: “We understand why the Commission was concerned about this NFT sale. Even though we believe strongly that adults should be able to spend their money as they choose, we share our colleagues’ worry about the type of hype that entices people to spend almost $30 million for NFTs seemingly without having a clear idea about how they will use, enjoy, or profit from them. This legitimate concern, however, is not a sufficient basis to pull the matter into our jurisdiction. The handful of company and purchaser statements cited by the order are not the kinds of promises that form an investment contract. We do not routinely bring enforcement actions against people that sell watches, paintings, or collectibles along with vague promises to build the brand and thus increase the resale value of those tangible items.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The US SEC charged Impact Theory with the “unregistered offering of crypto asset securities.” The LA-based entertainment company has paid a $6 million settlement following the charges. On Monday, the SEC announced charging the LA-based Impact Theory with an unregistered securities offering. The agency claims Impact’s 2021 NFT launch falls under an unregistered securities offering. SEC: Impact Theory’s NFT Launch Is an Investment Contract In a press release, the SEC claimed the company conducted “an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs).” According to the SEC, Impact Theory raised approximately $30 million from hundreds of investors through its 2021 offering. The securities agency claims that from October to December 2021, Impact offered and sold three tiers of NFTs, known as Founder’s Key, which the company called “Legendary,” “Heroic,” and “Relentless.” The press release explains Impact Theory “encouraged potential investors to view the purchase of a Founder’s Key as an investment into the business, stating that investors would profit from their purchases if Impact Theory were successful in its efforts.” The company allegedly stated that it was “trying to build the next Disney,” and if successful, would deliver “tremendous value” to Founder’s Key purchasers. The SEC’s order, therefore, found that Impact’s NFT sales to investors were investment contracts and, thus, securities. The securities agency established that Impact Theory violated federal securities laws by offering and selling these NFTs to the public without the necessary registration. Antonia Apps, Director of the SEC’s New York Regional Office, said: “Absent a valid exemption, offerings of securities, in whatever form, must be registered.” Adding, “Without registration, investors of all types are deprived of the protections afforded them by the robust disclosures and other safeguards long provided by our securities laws.” Impact Theory Settles with the SEC Impact Theory agreed to a cease-and-desist order in a settlement agreement, finding it violated the Securities Act of 1913. Without admitting or denying the agency’s findings, Impact Theory also agreed to pay $6.1 million in “disgorgement, prejudgement interest, and a civil penalty.” The company further agreed to destroy all Founder’s Keys in its possession or control, publish a notice of the SEC’s order on its website and all social media channels, and eliminate royalties that it might receive from future secondary market sales involving the NFTs. The SEC’s order also established a “Fair Fund” to return funds investors paid to buy the Founder’s Keys. The order against Impact Theory is the first NFT enforcement action the SEC has brought. In a statement, SEC Commissioners Hester Peirce and Mark Uyeda disagreed with the SEC’s claims. They said: “We dissented in part because we disagreed with the application of theHoweyanalysis. Regardless of what one thinks of theHoweyanalysis, this matter raises larger questions with which the Commission should grapple before bringing additional NFT cases.” The Commissioners added: “We understand why the Commission was concerned about this NFT sale. Even though we believe strongly that adults should be able to spend their money as they choose, we share our colleagues’ worry about the type of hype that entices people to spend almost $30 million for NFTs seemingly without having a clear idea about how they will use, enjoy, or profit from them. This legitimate concern, however, is not a sufficient basis to pull the matter into our jurisdiction. The handful of company and purchaser statements cited by the order are not the kinds of promises that form an investment contract. We do not routinely bring enforcement actions against people that sell watches, paintings, or collectibles along with vague promises to build the brand and thus increase the resale value of those tangible items.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Sultanate of Oman has embraced crypto, announcing the investment of millions in cryptocurrency mining operations. Oman’s move has raised eyebrows, with Islamic scholars debating the legitimacy of cryptocurrencies and their compatibility with Sharia law. A Bold And Historic Move Oman, a country that adheres to strict Islamic principles and traditions, has entered the world of cryptocurrency mining. The country has announced a series of investments that significantly enhance its association with crypto. The move is in line with the country’s plan to position itself as a digital powerhouse in the highly competitive region. The Omani government has announced investments of nearly $800 million dedicated towards cryptocurrency mining. This includes a $300 million partnership with the Phoenix Group, a prominent entity headquartered in Abu Dhabi. The partnership with the Phoenix Group aims to lay the groundwork for a 150-megawatt crypto mining facility in partnership with the Green Data City. The Green Data City is one of Oman’s leading licensed crypto mining firms. The facility is set to commence operations as early as 2024. Additionally, the country also granted approval for a $370 million mining venture by Exahertz International. According to several local reports, Exahertz plans to add an additional 15,000 machines by October to enhance operations. The investments are a major milestone in the country’s bid to accelerate the growth of its digital economy, stated Oman’s Minister of Transport, Communications and Information Technology, Hamoud al-Maawali. The Islamic Perspective On Crypto Oman’s foray into the crypto space comes as the entire region is adopting crypto. However, it also comes amidst a debate in the Islamic world regarding crypto and the legitimacy of cryptocurrencies in Islam. Islam’s financial principles, defined by Sharia law, are what define the permissibility or prohibition of financial instruments. Some Islamic scholars have argued that the speculative attributes of cryptocurrencies make them non-permissible for Muslims. Such a view has led to the issuance of several fatwas (Islamic legal verdicts) by Islamic scholars from countries such as Egypt, Turkey, and Indonesia. However, there is a train of thought that believes that because cryptocurrencies are devoid of any interest, they can be classified as permissible. They also emphasize the growing acceptance of cryptocurrencies to support their arguments further. An example of this debate can be seen in the stance adopted by some scholars when it comes to Ethereum, arguing that it is permitted. However, the Indonesian Ulema Council, the top Islamic scholars body, has declared that all cryptocurrencies are forbidden. Muslim Nations Increasingly Adopting Crypto Despite the ongoing debate, it is clear that Muslim nations have embraced cryptocurrencies in a big way and are among the biggest adopters of crypto in recent years. A study conducted by Chainalysis in 2022 identified the Middle East and North Africa regions as the fastest-growing crypto markets. Additionally, four out of twenty countries in Chainalysis’s Crypto Adoption Index are Muslim-majority nations. These have been joined by nations that have a significant Muslim population, such as Nigeria. However, the regulatory framework in these countries is in stark contrast with one another. On the one hand, countries such as the United Arab Emirates (UAE) are creating a welcoming and conducive environment for crypto firms and enthusiasts. However, countries such as Turkey, while permitting cryptocurrency trading, restrict the use of crypto in payments and by financial intermediaries such as banks. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Sultanate of Oman has embraced crypto, announcing the investment of millions in cryptocurrency mining operations. Oman’s move has raised eyebrows, with Islamic scholars debating the legitimacy of cryptocurrencies and their compatibility with Sharia law. A Bold And Historic Move Oman, a country that adheres to strict Islamic principles and traditions, has entered the world of cryptocurrency mining. The country has announced a series of investments that significantly enhance its association with crypto. The move is in line with the country’s plan to position itself as a digital powerhouse in the highly competitive region. The Omani government has announced investments of nearly $800 million dedicated towards cryptocurrency mining. This includes a $300 million partnership with the Phoenix Group, a prominent entity headquartered in Abu Dhabi. The partnership with the Phoenix Group aims to lay the groundwork for a 150-megawatt crypto mining facility in partnership with the Green Data City. The Green Data City is one of Oman’s leading licensed crypto mining firms. The facility is set to commence operations as early as 2024. Additionally, the country also granted approval for a $370 million mining venture by Exahertz International. According to several local reports, Exahertz plans to add an additional 15,000 machines by October to enhance operations. The investments are a major milestone in the country’s bid to accelerate the growth of its digital economy, stated Oman’s Minister of Transport, Communications and Information Technology, Hamoud al-Maawali. The Islamic Perspective On Crypto Oman’s foray into the crypto space comes as the entire region is adopting crypto. However, it also comes amidst a debate in the Islamic world regarding crypto and the legitimacy of cryptocurrencies in Islam. Islam’s financial principles, defined by Sharia law, are what define the permissibility or prohibition of financial instruments. Some Islamic scholars have argued that the speculative attributes of cryptocurrencies make them non-permissible for Muslims. Such a view has led to the issuance of several fatwas (Islamic legal verdicts) by Islamic scholars from countries such as Egypt, Turkey, and Indonesia. However, there is a train of thought that believes that because cryptocurrencies are devoid of any interest, they can be classified as permissible. They also emphasize the growing acceptance of cryptocurrencies to support their arguments further. An example of this debate can be seen in the stance adopted by some scholars when it comes to Ethereum, arguing that it is permitted. However, the Indonesian Ulema Council, the top Islamic scholars body, has declared that all cryptocurrencies are forbidden. Muslim Nations Increasingly Adopting Crypto Despite the ongoing debate, it is clear that Muslim nations have embraced cryptocurrencies in a big way and are among the biggest adopters of crypto in recent years. A study conducted by Chainalysis in 2022 identified the Middle East and North Africa regions as the fastest-growing crypto markets. Additionally, four out of twenty countries in Chainalysis’s Crypto Adoption Index are Muslim-majority nations. These have been joined by nations that have a significant Muslim population, such as Nigeria. However, the regulatory framework in these countries is in stark contrast with one another. On the one hand, countries such as the United Arab Emirates (UAE) are creating a welcoming and conducive environment for crypto firms and enthusiasts. However, countries such as Turkey, while permitting cryptocurrency trading, restrict the use of crypto in payments and by financial intermediaries such as banks. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.