On April 19, 2024, Binance hosted its first-ever online Law Enforcement Training Day. The event aimed to deliver state-of-the-art cryptocurrency education to the global law enforcement community, spotlighting an increasing interest in these topics. The initiative underscores the need for stronger collaboration between the public and private sectors to combat crypto-associated crime. Practical Cryptocurrency Investigation Techniques Unveiled As part of Binance's comprehensive Law Enforcement Training Program, the Law Enforcement Training Day centered around the operational aspects of cryptocurrency investigations. It illuminated blockchain tracing techniques and delved into advanced concepts such as demixing or cross-chain swaps. Law enforcement speakers unveiled recent case studies—ranging from pig butchering scams and child abuse to terrorist financing. These practical examples revealed how combining traditional investigative methods with the ability to trace funds across major publicly traceable blockchains is becoming increasingly critical. Speakers from Diverse Sectors The speaker panel featured 11 experts from various sectors, including Binance, law enforcement portal Kodex, and blockchain data investigation firms Chainalysis, TRM Labs, Elliptic, and Clain. Representatives from the law enforcement community also provided insights, including individuals from the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police, the National Organised Crime Agency of the Police of the Czech Republic, and the Cyberpolice Department of the National Police of Ukraine. Large Attendance Demonstrates Increasing Interest With over 1,300 law enforcement representatives from 86 countries in attendance—primarily from national police agencies and state prosecutors—the event demonstrated burgeoning global interest in cryptocurrency education. Among the ten countries with the highest attendance, six were European. Commenting on the event's success, Jarek Jakubcek, Binance’s Head of Law Enforcement Training, stressed that public-private collaboration is not merely desirable but downright crucial in detecting and preventing cryptocurrency-related criminal activity. He expressed gratitude towards all participants for contributing to this knowledge-rich event.

According to U.Today, Sarah Netburn, a US Magistrate Judge for the United States District Court for the Southern District of New York, has set a schedule for Ripple's motion to strike new expert materials submitted by the U.S. Securities and Exchange Commission (SEC). The SEC has until April 29 to respond to the motion, after which Ripple will have three business days to file its reply. Ripple recently opposed the SEC's motion for remedies, asking the court to reject the agency's request for disgorgement and prejudgment interest. The San Francisco-based company also argues that the SEC's civil penalty should not exceed $10 million, while the regulator is seeking approximately $2 billion in fines and penalties. Ripple has also moved to strike the SEC's new expert materials, which include a declaration and two supporting exhibits prepared by Andrea Fox, an Assistant Chief Accountant in the SEC’s Division of Enforcement. Ripple contends that it did not have the opportunity to take Fox's deposition and that reopening remedies discovery to do so would result in unnecessary expense and delay. The company further claims that the SEC was obligated to disclose Fox as an expert witness before the end of discovery. Ripple argues that this obligation cannot be circumvented by merely describing her as a summary witness. As a result, Ripple is urging the court to strike her declaration due to the SEC's late disclosure.

According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has accused Caleb Joseph Ward and Jeremy George McNutt, co-founders of Bitcoin mining company Geosyn Mining, of defrauding approximately 64 investors of $5.6 million through service agreements sold as securities between November 2021 and December 2022. The SEC alleges that Geosyn Mining's agreement to purchase and operate cryptocurrency mining machines on behalf of clients, for which it charged fees, falsely claimed to have signed a cheap energy contract with a power supplier. In reality, the costs were 40% to 50% higher than the rates communicated to clients. Furthermore, of the 1,400 mining machines that were supposed to be purchased under the service agreements, 400 were never bought. Additionally, most of the mining equipment that was purchased was never put into operation.

According to Foresight News, insiders have revealed that creditors of Celsius Loan are planning to appeal against the company's restructuring plan. The reason behind this is the discovery that Celsius's asset recovery rate is lower than expected. The current plan has reduced the amount of money recovered from customers who hold bankrupt assets in loan accounts. The creditors of Celsius Loan have stated that they do not yet have a specific timeline for potential litigation and are still in the early stages of exploration. This development could potentially impact the company's restructuring process and its future operations. Further details about the appeal and its potential implications are yet to be disclosed.

According to Foresight News, the South African Financial Sector Conduct Authority (FSCA) has confirmed that it has granted cryptocurrency licenses to 75 institutions so far. The FSCA has reminded the public that its licensing authority is limited to the authorization and supervision of Cryptocurrency Asset Service Providers (CASP). CASPs are limited to providing financial services related to cryptocurrency assets as defined by the Financial Advisory and Intermediary Services (FAIS) Act.

According to Foresight News, Brazil's digital bank, Nubank, has announced its support for cryptocurrency deposits and withdrawals. The bank's customers can now use the Nubank application to send and receive Bitcoin, Ethereum, and Solana. Nubank has also revealed plans to extend support to more tokens in the near future. This move by Nubank is a significant step towards the integration of cryptocurrencies into mainstream banking services in Brazil. It also reflects the growing acceptance of digital currencies worldwide. However, the bank has not yet specified which additional tokens it plans to support in the future. This announcement by Nubank is expected to encourage other financial institutions to consider integrating cryptocurrency transactions into their services.

According to CryptoPotato, Ripple has challenged the United States Securities and Exchange Commission's (SEC) proposed $2 billion fine related to XRP sales. The company argues that the majority of transactions were legal and informed, suggesting a maximum penalty of $10 million. This case is moving towards a crucial trial that could significantly affect XRP's price and the broader cryptocurrency market. The legal dispute between Ripple and the SEC is intensifying, with both parties taking numerous actions. The regulator proposed a $2 billion fine on Ripple about a month ago, accusing the company of XRP sales violations. Ripple's management team, including CEO Brad Garlinghouse and CLO Stuart Alderoty, strongly disagreed with the proposal, accusing the SEC of making false and misleading statements. Alderoty recently disclosed that Ripple has filed its opposition to the SEC's proposal, expressing confidence that the magistrates will handle the final remedies phase fairly. The company provided several key reasons why the penalty should not exceed $10 million. Firstly, Ripple argued that there are no allegations of deceiving or misleading individuals and entities who purchased XRP years ago. The company stated that these entities were fully informed about the transactions they were entering and did so in their own financial interests. Secondly, Ripple maintained that most of its XRP transactions were legal and did not act with scienter. The company also argued that it did not cause significant financial losses and that the SEC cannot prove otherwise. Ripple concluded its opposition by stating that the SEC's suggestion that Ripple's total assets warrant a massive fine is erroneous, as the SEC regularly imposes far smaller fines to deter misconduct by the world's largest corporations. Ripple's response came just before the start of the final phase of the lawsuit between the company and the US SEC, which will determine the outcome of the lengthy legal battle. The trial is scheduled to begin today (April 23), and some believe Ripple enters with an advantage, having secured three partial court victories last year. The case's resolution could significantly impact XRP's price, potentially triggering a bull run if Ripple decisively wins. Conversely, a loss for Ripple could have negative implications for the entire cryptocurrency industry and lead to the implementation of stricter regulations.

According to U.Today, the online cryptocurrency community is abuzz with discussions about a rumored 1% wealth tax on large Bitcoin holders, often referred to as 'whales'. This speculation has been fueled by a recent letter, allegedly signed by Senator Elizabeth Warren, sent to US President Joe Biden. However, there is no official confirmation of such a policy. The purported legislative proposal aims to address regulatory challenges arising from the increasing adoption of cryptocurrencies. It suggests that individuals or corporations holding cryptocurrencies valued at over $1,000 should report these holdings to the Internal Revenue Service (IRS) annually. Moreover, the proposal advocates for a 1% wealth tax on entities holding digital assets worth more than $500,000. Some members of the crypto community believe that this proposed 1% tax could be a government strategy to regulate the market and prevent large holders from manipulating Bitcoin prices. However, the authenticity of the bill, which has been dismissed as false, is intended to address growing wealth disparities in the United States. The proposal suggests that individuals and entities with significant crypto wealth should contribute to public services and investments. Cryptocurrencies are classified as capital assets by the IRS in the U.S. Therefore, any gains or losses from buying, selling, or exchanging cryptocurrencies are treated as capital gains or losses. In 2021, the Biden administration proposed a tax plan to increase the capital gains tax rate to 43.4% for citizens earning over $1 million. This proposal faced significant backlash, with venture capitalist Tim Draper arguing that it could harm 'the golden goose that is America'.

According to PANews, following a jury verdict that found Terraform Labs and Do Kwon guilty of fraud, the U.S. Securities and Exchange Commission (SEC) has filed a motion seeking to recover $5.3 billion in illicit gains and civil penalties. In a document submitted to the U.S. District Court for the Southern District of New York on April 19, the SEC asked Terraform Labs and Do Kwon to pay approximately $4.7 billion in illicit gains and pre-judgment interest, as well as a total of $520 million in civil penalties. In addition, the SEC proposed to prohibit Do Kwon from serving as an executive or director of a securities issuing company and to provide detailed information about his accounts and assets. On April 5, a New York jury found Terraform and Do Kwon guilty of allegedly deceiving investors in the sale statements of TerraUSD (UST), Luna, and wLUNA.

According to CryptoPotato, the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) over allegations of illegal XRP sales is set to proceed to trial on April 23. Ripple's Chief Legal Officer has confirmed that there will be no settlement before the trial, contrary to previous speculations. The legal conflict, which began over three years ago, entered its final phase when the SEC accused Ripple in December 2020 of illegally selling XRP in an unregistered security offering. Ripple has disputed these claims, arguing that XRP should not be considered a security and therefore does not fall under the SEC's jurisdiction. The trial, scheduled for April 23, will be decided by a federal judge. Some believe that Ripple has a better chance of winning, given that it secured three partial court victories last year. In addition to the start of the trial, Ripple is expected to respond to the SEC's request for penalties by April 22, with the regulator's reply due by May 6. Earlier this month, there were speculations that a settlement might be reached before the trial due to a final pretrial conference on April 16. However, Ripple's Chief Legal Officer, Stuart Alderoty, dismissed these rumors, stating that there was no final pretrial conference because the SEC had dropped the charges against Brad Garlinghouse and Chris Larsen. The resolution of this lengthy case could potentially have a positive impact on the price of XRP, particularly if Ripple emerges victorious. The price of the asset has seen significant increases following each of Ripple's partial victories in 2023. Conversely, a negative outcome could hinder the industry's progress and lead to the implementation of stricter regulations.