Why is the SEC going after digital art and monkey paintings? Law has been repealed.
In the year On August 28, the United States Securities and Exchange Commission issued a notice of Wells to OpenSea, a non-volatile token (NFT) marketplace.
OpenSea CEO Devin Finzer was “shocked” when the SEC accused the exchange of being a marketplace for unregistered securities.
The announcement sparked an uproar in the crypto community, led by Finzer's statement that Opensea was ready to “fight back.”
Although Wells' notice serves as a warning that the SEC may take enforcement action against the recipient, it does not indicate that the regulatory body will take legal action.
The judge ordered the former FTX executive to appear after being asked to drop the guilty plea
In the year On August 29, a federal judge ordered Ryan Salameh, the former CEO of FTX Digital Markets, to stand trial despite a request to vacate his guilty plea.
In an Aug. 29 filing, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York said Salame will appear in court on Sept. 12 and set him free on bail.
Salameh was originally scheduled to go to prison to serve a 90-month sentence starting August 29, but that was delayed to October 13 after he reported health problems from a dog bite.
In the year On August 21, Salameh's legal team petitioned the court to drop his guilty plea, saying authorities agreed not to pursue an investigation into his partner, Michelle Bond.
On August 22, after prosecutors filed charges of campaign finance law violations, Salame dropped the plea.
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“Absolutely nuts” — Crypto community reacts to the X ban in Brazil
In the year On August 30, the crypto community expressed its dismay after Supreme Court Justice Alexander de Moraes followed suit by considering shutting down X's Brazilian operations if Musk failed to appoint a legal representative by August 29.
X user Scott Melker, also known as “Wolf of All Streets” on X, announced to his nearly one million followers that Brazil is “absolutely doomed” for banning the social media platform.
One X user, WSBChairman, said the “dictator” had “illegally” blocked the social media platform in the country, highlighting the fine of $9,000 per hour for anyone who does so.
James Cheek, lead analyst at Glassnode, wondered whether a “decentralized, untraceable, scarce, digital, global financial asset could be useful to the world today.”
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New Maker Stable Coin Has Fallen On “Freeze Action”
The decentralized finance project maker, recently rebranded as Sky, has embraced opposition to the new so-called “freeze function” of its updated stablecoin.
The new stablecoin, USDS, is expected to include a feature that allows the issuer to freeze the token, as noted by some online observers.
In the year On August 27, Rune Christensen, founder of Creative, explained in an X post that no cooling functionality will be included at launch.
Christensen explained that the update function would allow management to decide how to implement the cooling function in the future, a statement that raised concerns about decentralization of the protocol.
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