This week, in the Weekly Recap’s latest edition, the Securities and Exchange Commission proposed settlement agreements to Sam Bankman Fried’s former employees whose testimonies led to his conviction.
The following is a summary of the information that you will find on this page.
- SEC offered settlements to former FTX employees who had testified against Sam Bankman Fried.
- South Korean Police busted an illegal currency network that targeted crypto traders who conducted in-person transactions.
- After an initial rejection, the Polish parliament has revived comprehensive crypto-legislation.
On top of that, South Korea law enforcement shut down a criminal activity using fake currency to defraud crypto traders. Poland’s Parliament also revived a comprehensive industry-wide legislation.
SEC settles with FTX witnesses who cooperated
- Securities and Exchange Commission (SEC) proposed settlement agreements on Friday for members of Sam Bankman Fried’s inner group whose testimony was crucial during the criminal proceedings.
- These resolutions propose to bring regulatory charges against people who worked with prosecutors on building the case for the former FTX chief executive.
South Korean police dismantle counterfeit currency scheme
- South Chungcheong Province authorities have filed charges against a group of criminals that manufactured fake Korean currency bills for the purpose of defrauding cryptocurrency traders in person during exchanges.
- Chosun Ilbo reports that last year police found 9,188 counterfeit notes of 50,000 won worth approximately 459.4million won (330,000 USD) on the suspected suspects.
Polish Parliament advances cryptocurrency regulations
- Sejm approves comprehensive crypto legislation with 241 votes.
- According to confirmation from Sejm press office, the Crypto-Asset Market Act is unchanged from its version that was rejected in earlier this month.
Coinbase breaks state predictions market regulations
- In Connecticut, Michigan and Illinois, the cryptocurrency exchange has filed lawsuits against state efforts to ban prediction markets as part of gaming regulations.
- In legal complaints, the complainants seek declarations and injunctive remedies claiming that state gaming boards are not competent to regulate prediction markets. Instead they claim jurisdiction over them belongs exclusively to Commodity Futures Trading Commission.
Ethereum Developers Name 2026 Upgrade Roadmap
- Officially, the core development teams have been announced designated Next-generation network upgrades are underway “Hegota,” Define the development cycle for 2026 within the Blockchain’s two-yearly release calendar.
- It is a name that combines the layers of execution. “Bogota” Upgrade following Devcon’s host city tradition, using the consensus layer “Heze” star designation.
Bybit expands its UK operations
- Two years after it was forced to leave due to stricter marketing and promotional regulations, the exchange has announced that they have resumed their United Kingdom spot currency trading services.
- Updated compliance frameworks that address UK regulatory requirements have been implemented to restart the platform, which serves approximately 80 millions users around the world.
Terraform Labs liquidator sues Jump Trading
- Todd Snyder, a court-appointed administrator of the plan filed Jump Trading and its former President Kanav Kariya are being sued by a group of investors seeking damages in the amount of $4 billion for their collapse.
- The Wall Street Journal has reported that Jump Trading is being sued for their role in Terra’s ecosystem failure. The lawsuit was confirmed by the company through its social media channels.
Crypto thefts exceed $3.4 billion annually
- Chainalysis, a blockchain intelligence company, reported that the theft of cryptocurrency totaled more than $3.41 billion between January and early December.
- In total, the hacking of Bybit Exchange, which cost $1.5 billion dollars, accounted for 44% of annual service losses. The top three incidents accounted 69%.
Indian regulators have approved Coinbase and CoinDCX investments
- The Competition Commission of India has approved the acquisition of DCX Global Limited by Coinbase Global, which is the parent company of CoinDCX.
- CoinDCX has been approved after recovering from a security breach costing $44,000,000 that resulted in substantial compensation for users.
Coinbase unveils comprehensive platform expansion
- The Exchange revealed during a livestreamed session on Wednesday that U.S. users will be able to trade traditional stocks alongside more than a dozen newly updated and improved products.
- Platform improvements include Solana-based integration of decentralized finance, prediction markets and infrastructure to create digital representations for real-world assets.
Visa expands the stablecoin settlement in United States
- Circle, the payments giant, has extended its stablecoin trial to include U.S.-based settlements using Circle USDC on Solana’s (SOL), blockchain.
- Cross River Bank, Lead Bank are the initial banking partners that will allow U.S. acquiring and issuing partners to settle their USDC transactions. A wider rollout should be expected in 2026.
Bitcoins worth billions of dollars are still being purchased by the strategy
- Strategy acquired nearly 1 billion Bitcoins in the second week consecutively, 10,645 BTC at an average cost of $92,098 a coin.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news
