Regulatory

SEC's Notice of Settlement & Motion for Judgment in U.S. Securities and Exchange Commission v. Beaxy Digital, Ltd., of Saint Kitts and Nevis; Artak Hamazaspyan, Windy Inc., Nicholas Murphy, Randolph Bay Abbott, Braverock Investments, LLC, Future Digital Markets, Inc., Windy Financial LLC, Future Financial LLC, and Brian Peterson at the U.S. District Court for the Northern District of Illinois.

Complaint in U.S. Securities and Exchange Commission v. Beaxy Digital, Ltd., of Saint Kitts and Nevis; Artak Hamazaspyan, Windy Inc., Nicholas Murphy, Randolph Bay Abbott, Braverock Investments, LLC, Future Digital Markets, Inc., Windy Financial LLC, Future Financial LLC, and Brian Peterson at the U.S. District Court for the Northern District of Illinois.

Complaint aleging fraud and misappropriation in Commodity Futures Trading Commission v. Dichao Xie, described as a citizen of China residing in England, at the U.S. District Court for the Northern District of Illinois.

Complaint regarding "the world’s largest centralized digital asset exchange" in Commodity Futures Trading Commission v. Changpeng Zhao, described as a citizen of Canada residing in Dubai; Binance Holdings Limited, of the Cayman Islands; Binance Holdings (IE) Limited, of Ireland; Binance (Services) Holdings Limited, of Ireland, and Samuel Lim, described as a resident of Singapore, at the U.S. District Court for the Northern District of Illinois.

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $3,820 on Michele Mason Lohan, described as “a film director and internet personality known as 'Kendra Lust'" residing in Michigan, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that she was paid to do so.

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $168,000 on Aliaune Damala Badara Akon Thiam, described as "a well-known entertainer and internet personality known as 'Akon'" residing in Georgia, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that he was paid to do so.

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $48,000 on Shaffer Smith, described as “a well-known entertainer and internet personality known as 'Ne-Yo'” residing in Georgia, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that he was paid to do so.

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $40,000 on Miles McCollum, described as "a well-known recording artist and internet media personality known as 'Lil Yachty'" residing in Georgia, USA, for promoting a crypto security known as “Tronix tokens” without disclosing that he was paid to do so.

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $100,000 on Jake Paul, described as "a well-known internet personality and professional boxer" residing in Puerto Rico, for promoting a crypto security known as "Tronix tokens" without disclosing that he was paid to do so.

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $40,000 on Lindsay Lohan, described as "a well-known actress, singer, and internet personality" residing in Dubai, United Arab Emirates, for promoting a crypto security known as "Tronix tokens" without disclosing that she was paid to do so.

Complaint alleging securities fraud involving crypto in U.S. Securities and Exchange Commission v. Justin Sun, described as "a Chinese national and crypto asset entrepreneur"; Tron Foundation Limited, of Singapore; BitTorrent Foundation Ltd., of Singapore; Rainberry Inc., Austin Mahone, described as "a U.S. citizen and a singer and songwriter residing in Miami, Florida", and Deandre Cortez Way, a.k.a. Soulja Boy, a U.S. citizen and a singer and record producer residing in Calabasas, California", at the U.S. District Court for the Southern District of New York.

Public Notice by the Labuan Financial Services Authority regarding business restrictions on 15 "Labuan Licensed Entities".

Public Notice by the Cayman Islands Monetary Authority identifying entities that "have been removed from the Authority's register as they were struck off the Companies Register of the General Registry".

Complaint alleging "multiple offering frauds orchestrated by Guo, an exiled Chinese businessman living in the United States who targeted retail investors through online and social media posts and videos" in U.S. Securities and Exchange Commission v. Ho Wan Kwok, a.k.a. Miles Guo, Miles Kwok, Wengui Guo, and Brother Seven, described as a citizen of Hong Kong residing in New York; Kin Ming Je, a.k.a. William Je, described as a dual citizen of Hong Kong and the United Kingdom residing in London, England; Mountains of Spices LLC, d.b.a. New York Farm, and G Club Operations LLC, of Puerto Rico, as Defendants, and Mei Guo, described as a citizen of Hong Kong residing in New York, England; Qiang Guo, described as a citizen of Hong Kong residing in London, England; Hing Chi Ngok, described as a citizen of China residing in Connecticut, and Sin Ting Rong, described as a citizen of Hong Kong residing in London, England, as Relief Defendants, at the U.S. District Court for the Southern District of New York.

Public Notice by the British Virgin Islands Financial Services Commission that it imposed a fine of $30,000 on Intertrust Corporate Services (BVI) Limited for regulatory breaches.

Public Notice by the Bermuda Monetary Authority that it has "successfully petitioned the Supreme Court of Bermuda to wind up The Wine Investment Fund Limited" for regulatory breaches.

Public Notice by the Cyprus Securities and Exchange Commission that it has revoked the investment license of Maxiflex Ltd.

Public Notice by the Cyprus Securities and Exchange Commission that it has revoked the investment license of Holiway Investments Ltd. for regulatory breaches.

Public Notice by the Luxembourg CSSF that it has imposed a fine of €1.56 million on Banque Degroof Petercam Luxembourg S.A. for regulatory breches.

Complaint in Commodity Futures Trading Commission v. Nishad Singh at the U.S. District Court for the Southern District of New York.

Complaint in U.S. Securities and Exchange Commission v. Nishad Singh at the U.S. District Court for the Southern District of New York.

Public Notice by the Bermuda Monetary Authority that it has "successfully petitioned the Supreme Court of Bermuda to wind up British Steamship Protection and Indemnity Association (Bermuda) Limited", described as "a wholly owned subsidiary of British Steamship Protection & Indemnity Association Limited, a company incorporated in the Republic of the Marshall Islands", for regulatory breaches.

Asset Freeze Motion in in U.S. Securities and Exchange Commission v. BKCoin Management LLC, of Delaware, and Min Woo Kang, of New York, as Defendants, and BKCoin Capital LP, a.k.a. the Legacy Fund, of Delaware; BK Offshore Fund Ltd., of the British Virgin Islands; BKCoin Multi-Strategy Master Fund Ltd., of the British Virgin Islands; BKCoin Multi-Strategy Fund LP, of Delaware; BKCoin Multi-Strategy Fund Ltd., of the British Virgin Islands, and Bison Digital LLC, of Wyoming, as Relief Defendants, at the U.S. District Court for the Southern District of Florida.

Complaint "to prevent further fraud and misappropriation of investor money" in U.S. Securities and Exchange Commission v. BKCoin Management LLC, of Delaware, and Min Woo Kang, of New York, as Defendants, and BKCoin Capital LP, a.k.a. the Legacy Fund, of Delaware; BK Offshore Fund Ltd., of the British Virgin Islands; BKCoin Multi-Strategy Master Fund Ltd., of the British Virgin Islands; BKCoin Multi-Strategy Fund LP, of Delaware; BKCoin Multi-Strategy Fund Ltd., of the British Virgin Islands, and Bison Digital LLC, of Wyoming, as Relief Defendants, at the U.S. District Court for the Southern District of Florida.

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $103,591 on African Gold Acquisition Corp., described as "a publicly traded special purpose acquisition company incorporated in the Cayman Islands with its principal place of business in New York, New York", for, inter alia, the entity's "failure to implement sufficient internal controls enabled its former chief financial officer [Cooper Morgenthau] to misappropriate nearly all of the money in African Gold’s operating bank account and to otherwise effectively use African Gold’s operating bank account as his own personal account for over one year".

Complaint in U.S. Securities and Exchange Commission v. Candlestick Capital Management LP, of Delaware, as Defendant, and Candlestick Master Fund LP, of the Cayman Islands, and Candlestick US F&F Fund LP, of Delaware, as Relief Defendants, at the U.S. District Court for the District of Connecticut.

Complaint in U.S. Securities and Exchange Commission v. HITE Hedge Asset Management LLC, of Delaware, as Defendant, and HITE Hedge LP, of Delaware; HITE Hedge II LP, of Delaware, and HITE Hedge Offshore Ltd., of the Cayman Islands, as Relief Defendant, at the U.S. District Court for the District of Massachusetts.

Complaint alleging the defendants "offered and sold crypto asset securities in unregistered transactions and perpetrated a fraudulent scheme that led to the loss of at least $40 billion of market value" in U. S. Securities and Exchange Commission v. Terraform Labs Pte Ltd., of Singapore, and Do Hyeong Kwon, described as a resident of South Korea and Singapore, at the U.S. District Court for the Southern District of New York.

Legal Notice regarding the appointment of Joint Provisional Liquidators for The Wine Investment Fund Limited (in Provisional Liquidation) at Bermuda Supreme Court, published by The Royal Gazette on February 13th, 2023.

Legal Notice about the filing of a winding up petition by the Bermuda Monetary Authority against The Wine Investment Fund Limited (in Provisional Liquidation) at Bermuda Supreme Court, published by The Royal Gazette on February 13th, 2023.

Complaint alleging "the illegal unregistered offer and sale of securities involving the staking of crypto assets" in the U.S. Securities and Exchange Commission v. Payward Ventures Inc., of Delaware, and Payward Trading Ltd., of the British Virgin Islands, both doing business as Kraken, at the U.S. District Court for the Northern District of California.

Public Notice by the Luxembourg CSSf that it has imposed an administrative fine of €45,800 on FundRock Management Company S.A.

Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €174,000 on Alter Domus Management Company SA, formerly known as Luxembourg Fund Partners S.A., for regulatory breaches regarding Columna Commodities Fund..

Complaint alleging "a fraudulent investment scheme involving fine wine" in U.S. Securities and Exchange Commission v. Windsor Jones LLC and Anthony Collins described as a resident of England, at the U.S. District Court for the Central District of California.

Public Notice by the Guernsey Financial Services Commission that it has imposed fines and prohibitions on William Stephen Cairns and Du Preez Gert Vermeulen.

Amended Decision Notice by the Dubai Financial Services Authority imposing a fine of $44,800 and industry ban on Stuart Coles, a citizen of the United Kingdom.

Winding Up Petition in Bermuda Monetary Authority v. The Wine Investment Fund Limited at Bermuda Supreme Court.

Public Warning by the Swiss Financial Market Supervisory Authority that Hyperrr.com GmbH is "suspected of conducting unauthorised activities in the financial market".

Public Statement by the Isle of Man Financial Services Authority that it has imposed a fine of £4,127 on Döhle Yachts Management Services Limited.

Complaint alleging the defendant "drained approximately $116 million from a crypto asset trading platform known as Mango Markets after manipulating the trading price and volume of the “MNGO token,” a so-called “governance token” of Mango Markets that was purchased and sold as a crypto asset security" in U.S. Securities and Exchange Commission v. Avraham Eisenberg at the U.S. District Court for the Southern District of New York.

Press Release by the U.S. Securities and Exchange Commission announcing that Nexo Capital Inc., of the Cayman Islands, has agreed to pay $45 million in penalties for conducting an "unregistered offering of crypto asset lending product".

Administrative Order by the U.S. Securities and Exchange Commission imposing a civil money penalty of $22.5 million on Nexo Capital Inc., described as a Cayman Islands-domiciled provider of "crypto asset-related financial products and services", for an unregistered securities offering.

Public Notice by the Cyprus Securities and Exchange Commission that it has imposed restrictions on Petros Zachariades regarding Crowd Tech Ltd., suspending him from exercising" voting rights" and prohibiting his involvement in "management duties".

Public Notice by the Labuan Financial Services Authority regarding business restrictions on 11 "Labuan Licensed Entities".

Public Notice by the Malta Financial Services Authority that it has prohibited Karl Cini "from accepting any new positions" while "criminal proceedings against Mr. Cini are ongoing".

Public Notice by the Malta Financial Services Authority that it has prohibited Brian Tonna "from accepting any new positions" while "criminal proceedings against Mr. Tonna are ongoing".

Defendant Stephen Braverman's Motion to Dismiss in U.S. Securities and Exchange Commission v. Arbitrade Ltd., of Bermuda; Cryptobontix Inc., of Canada; Troy R.J. Hogg, of Canada; James L. Goldberg, Stephen L. Braverman, and Max W. Barber, as Defendants, and SION Trading FZE, of the United Arab Emirates, as Relief Defendant, at the U.S. District Court for the Southern District of Florida.

Complaint alleging securities fraud involving broker-dealers in the United Kingdom and USA in U.S. Securities and Exchange Commission v. Terrance Reagan and Nathaniel Clay at the U.S. District Court for the Southern District of New York.

Complaint alleging "an unregistered offer and sale of securities" in the form of crypto in U.S. Securities and Exchange Commission v. Genesis Global Capital LLC and Gemini Trust Company LLC at the U.S. District Court for the Southern District of New York.

Public Notice by the Guernsey Financial Services Commission that it has imposed a fine of £280,000 on GFG Limited (in Voluntary Liquidation) for "the firm’s failure to meet the minimum criteria for licensing under the Protection of Investors (Bailiwick of Guernsey) Law, 2020".