Fines | ForkLog

ForkLog 16 28.09.2024

SEC Fines Mango Markets $700,000

The organizations managing the DeFi platform Mango Markets, Mango DAO, and Blockworks Foundation have settled charges with the SEC over the unregistered sale of securities in the form of MNGO tokens. Today we filed settled charges against Mango DAO and Blockworks Foundation for engaging in the unregistered offer and sale of crypto assets called “MNGO” […]

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ForkLog 20 25.09.2024

SEC Fines TrustToken and TrueCoin Over TUSD Stablecoin Sales

TrueCoin and TrustToken have reached a settlement with the SEC over allegations of fraudulent and unregistered sales of investment contracts in the form of the TrueUSD (TUSD) stablecoin. According to the lawsuit, TrueCoin acted as the coin’s issuer, while TrustToken operated the TrueFi lending protocol. From November 2020 to April 2023, the companies offered investors […]

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ForkLog 28 05.09.2024

Robinhood Crypto Fined $3.9 Million Over Asset Withdrawal Ban

The cryptocurrency division of online broker Robinhood will pay a $3.9 million fine as part of a settlement with the California Department of Justice. The settlement concludes an investigation by the department into the company’s violations of the state’s commodities law. Prosecutors initiated the case following complaints from platform users. Complaints against Robinhood Crypto included: […]

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ForkLog 13 05.09.2024

CFTC Fines Uniswap Labs $175,000

The Commodity Futures Trading Commission (CFTC) has fined Uniswap Labs $175,000 for offering digital asset derivatives through a DeFi protocol. .@CFTC Issues Order Against Uniswap Labs for Offering Illegal Digital Asset Derivatives Trading: https://t.co/Io0VP7c18U — CFTC (@CFTC) September 4, 2024 The company is also required to refrain from further violations of the Commodity Exchange Act. […]

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ForkLog 18 22.08.2024

Lingo Telecom Fined $1 Million for Biden Deepfake Incident

The US Federal Communications Commission (FCC) has fined Texas-based telecommunications company Lingo Telecom $1 million for distributing deepfakes of President Joe Biden, according to a press release. In January, an unknown individual used artificial intelligence to mimic Biden’s voice and made a series of calls to voters in New Hampshire, urging them to boycott the […]

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ForkLog 8 20.08.2024

Mango DAO Agrees to $223,228 SEC Settlement

The governing body of the DeFi platform Mango Markets, Mango DAO, held a vote on a pre-trial settlement of claims by the SEC, which accused the project of violating U.S. securities laws. A quorum of over 106 million votes unanimously supported the payment of a civil penalty of $223,228, the burning of MNGO token reserves, […]

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ForkLog 11 11.07.2024

BitOK Experts Elucidate €9.3 Million Fine Imposed on Payeer

BitOK has delved into the reasons behind the Lithuanian regulator’s record fine of nearly €9.3 million on the payment service Payeer and shared its findings with ForkLog. The Financial Crime Investigation Service (FNTT) under the Ministry of the Interior cited serious and deliberate violations by the platform of international sanctions and the Law on the […]

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ForkLog 73 10.07.2024

Lithuanian Regulator Fines Crypto Platform Payeer Nearly €9.3 Million

The Lithuanian Financial Crime Investigation Service (FNTT) has imposed a record fine of €8.23 million on the crypto processing platform Payeer for failing to comply with international sanctions. Additionally, the company will pay €1.06 million for violating the Law on the Prevention of Money Laundering and Terrorist Financing (PPTFPĮ). Operating as a virtual asset service […]

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ForkLog 7 20.06.2024

Binance Fined $2.2 Million by Indian Authorities

The Financial Intelligence Unit of India (FIU) imposed a fine of 18.82 crore Indian rupees ($2.2 million) on the cryptocurrency exchange Binance for providing services to clients without adhering to national anti-money laundering regulations. At the end of 2023, the FIU accused nine bitcoin exchanges of operating without registration and violating AML/CFT laws. Among others, […]

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ForkLog 6 14.06.2024

Ripple Seeks to Reduce SEC Fine to $10 Million

Ripple Labs submitted a letter requesting a reduction of the SEC fine from $2 billion to $10 million. The company cited the agreement between the regulator and Terraform Labs (TFL) as a precedent. On June 12, TFL agreed to pay $4.47 billion. The court approved the deal, which includes $3.58 billion in compensation, a $420 […]

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ForkLog 21 14.06.2024

Uzbekistan Warns Hamster Kombat Players of Arrest and Fines

Players of Hamster Kombat in Uzbekistan face potential penalties if they convert in-game currency to fiat through cryptocurrency exchanges. This warning comes from local media, citing government authorities. In Uzbekistan, the illegal acquisition, sale, or exchange of cryptocurrencies is prohibited. Such activities are punishable by up to 15 days of administrative arrest or a fine […]

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ForkLog 8 21.03.2024

Google Fined €250 Million for Copyright Infringement

The French regulatory authority has fined Google €250 million for violating EU copyright laws in AI training. The corporation announced this in a blog post. The regulator expressed concerns about the AI service Gemini, claiming that the model was trained on content from local publishers and news agencies without proper notification and permission. In the […]

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