Bitcoin SV

<p><img src="https://media.licdn.com/dms/image/C4D0BAQGBc3KzyqgZpQ/company-logo_100_100/0/1630682957789/bsvblockchain_logo?e&#61;1720656000&amp;v&#61;beta&amp;t&#61;IQ52S9OMyIvo5H3nE0oWtUVzvbT45A1S9Gnhr5HVSNs" /></p><h2 id="header-0"><a href="https://www.linkedin.com/company/bsvblockchain/" rel="noopener noreferrer nofollow">BSV Blockchain</a></h2><p>Terraform Labs and its founder, Do Kwon, were found liable for securities fraud by a Manhattan federal jury in a case brought by the SEC, a verdict supported by SEC Enforcement Director Gurbir Grewal. Concurrently, the US Court of Appeals for the 2nd Circuit revived a class action lawsuit against Coinbase, alleging the sale of unregistered securities, citing ambiguity in user contracts regarding direct token sales.</p><ul><li>Rep. <a href="https://www.linkedin.com/in/brad-sherman-856236a9/" rel="noopener noreferrer nofollow">Brad Sherman</a> (D-CA)</li><li><a href="https://www.linkedin.com/company/terraform-labs/" rel="noopener noreferrer nofollow">Terraform Labs</a> and Founder <a href="https://www.linkedin.com/search/results/all/?fetchDeterministicClustersOnly&#61;true&amp;heroEntityKey&#61;urn%3Ali%3Afsd_profile%3AACoAACGw42oB7xgHaocIWTi54M0JI_Aa1qiPAOg&amp;keywords&#61;do%20kwon&amp;origin&#61;RICH_QUERY_SUGGESTION&amp;position&#61;0&amp;searchId&#61;ff60f8f9-3e6c-43fd-bcac-cef7c0d4574c&amp;sid&#61;trr&amp;spellCorrectionEnabled&#61;false" rel="noopener noreferrer nofollow">Do Kwon</a></li><li><a href="https://www.linkedin.com/company/secgov/" rel="noopener noreferrer nofollow">SEC</a> Enforcement Director <a href="https://www.linkedin.com/in/gurbir-grewal-5a7036a8/" rel="noopener noreferrer nofollow">Gurbir Grewal</a></li><li><a href="https://www.linkedin.com/company/coinbase/" rel="noopener noreferrer nofollow">Coinbase</a></li><li><a href="https://www.linkedin.com/company/nydfs/" rel="noopener noreferrer nofollow">New York State Department of Financial Services</a> (NYDFS)</li><li><a href="https://www.linkedin.com/company/blockfi/" rel="noopener noreferrer nofollow">BlockFi</a></li><li>Crypto Freedom Alliance of Texas</li><li><a href="https://www.linkedin.com/company/lejilex/about/" rel="noopener noreferrer nofollow">Lejilex</a></li><li><a href="https://www.linkedin.com/company/defieducationfund/" rel="noopener noreferrer nofollow">DeFi Education Fund</a></li><li>Beba LLC</li></ul><h3 id="us">US</h3><h3 id="rep-brad-sherman-slams-crypto-industry-over-new-york-pig-butchering-scam">Rep. Brad Sherman slams crypto industry over New York pig butchering scam</h3><p>Rep. Brad Sherman (D-CA) <a href="https://twitter.com/BradSherman/status/1776272668930486509" rel="noopener noreferrer nofollow">tweeted</a> about the pig butchering scam in New York, criticizing the crypto industry for being a “Garden of Snakes.”</p><h3 id="terraform-labs-and-founder-found-liable-for-securities-fraud-sec-applauds-verdict">Terraform Labs and Founder found liable for securities fraud, SEC applauds verdict</h3><p>A Manhattan federal jury found Terraform Labs and founder Do Kwon liable for securities fraud in the SEC’s case against the company. SEC Enforcement Director Gurbir Grewal <a href="https://www.sec.gov/news/statement/grewal-statement-040424" rel="noopener noreferrer nofollow">released a statement</a> in support of the verdict.</p><h3 id="us-appeals-court-revives-class-action-against-coinbase-over-unregistered-securities">US Appeals Court revives class action against Coinbase over unregistered securities</h3><p>The US Court of Appeals for the 2nd Circuit revived a 2021 proposed class action accusing Coinbase of selling unregistered securities, arguing that competing user contracts left it open for interpretation as to who was the direct seller of dozens of tokens trading on the exchange.</p><h3 id="blockfi-reaches-agreement-with-nydfs-prioritizing-consumer-distributions">BlockFi reaches agreement with NYDFS, prioritizing consumer distributions</h3><p>The New York State Department of Financial Services (NYDFS) reached an agreement with BlockFi in which the department will forgo any distributions from the BlockFi estate in order to maximize the amount that may be distributed to BlockFi consumer clients.</p><h3 id="small-crypto-businesses-sue-sec-challenging-industry-oversight">Small crypto businesses sue SEC, challenging industry oversight</h3><p>Small crypto businesses and crypto trade groups are preemptively suing the SEC to challenge how the agency polices the industry. The Crypto Freedom Alliance of Texas and Lejilex, and the DeFi Education Fund and <a href="https://www.linkedin.com/company/beba/" rel="noopener noreferrer nofollow">Beba LLC</a>, have both sued the SEC in Texas in recent weeks.</p><h3 id="eu-uk">EU/UK</h3><h3 id="bank-of-england-releases-minutes-from-inaugural-cbdc-academic-advisory-group-meeting">Bank of England releases minutes from inaugural CBDC academic advisory group meeting</h3><p>The Bank of England <a href="https://www.bankofengland.co.uk/minutes/2024/march/minutes-of-cbdc-academic-advisory-group-march-2024" rel="noopener noreferrer nofollow">published minutes</a> from the first meeting of the CBDC Academic Advisory Group, held in March.</p>

Terraform Labs found liable for securities fraud

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