WazirX Parent Zettai Pte. Ltd. Court Proceedings Update: Moratorium Hearing Scheduled for 25 September 2024

by Theresa Joy Lacatan | Sep 7, 2024 | Blog News, Crypto News

On 3 September 2024, a case conference was convened in the General Division of the Singapore High Court concerning Zettai Pte. Ltd., the parent entity of WazirX, in relation to its application for a six-month moratorium. The application, prompted by the company’s...

CFTC Orders Uniswap Labs to pay $175K Penalty for Breaking the Rules in DeFi Dealings

by Theresa Joy Lacatan | Sep 6, 2024 | Blog News, Crypto News

On September 4, 2024, the Commodity Futures Trading Commission (CFTC) issued an Order Instituting Proceedings and imposed remedial sanctions against Universal Navigation Inc., operating as Uniswap Labs. The action was taken due to Uniswap Labs’ violation of the...

SEC Charges Six Credit Rating Agencies with $49 Million in Penalties for Recordkeeping Failures

by Theresa Joy Lacatan | Sep 6, 2024 | Blog News, Crypto News

On 3 September 2024, the U.S. Securities and Exchange Commission (US SEC) charged six nationally recognized statistical rating organizations for failing to maintain and preserve electronic communications as required under federal securities laws. The firms, including...

MAS Issues Prohibition Order Against Former Broker Involved in Market Misconduct

by Theresa Joy Lacatan | Sep 6, 2024 | Blog News, Crypto News

On 3 September 2024, the Monetary Authority of Singapore (MAS) issued a five-year prohibition order (PO) against Mr. Chong Yew Mun Alan, a former representative of RHB Securities (Singapore) Pte. Ltd. The order was made following Mr. Chong’s conviction for market...

U.S. Court Orders $230 Million in Penalties for Fraud in Commodity and Digital Asset Trading

by Theresa Joy Lacatan | Sep 5, 2024 | Blog News, Crypto News

On 3 September, 2024, the Commodity Futures Trading Commission (CFTC)  announced the penalty imposed by Judge Mary Rowland of the United States District Court for the Northern District of Illinois in the case of Commodity Futures Trading Commission v. Jafia LLC, Sam...

WazirX Parent Company Seeks Moratorium in Singapore High Court Amid Financial Crisis

by Theresa Joy Lacatan | Sep 3, 2024 | Blog News, Crypto News

On 27 August 2024, Zettai Pte. Ltd., the parent company of the cryptocurrency exchange WazirX, filed an application with the Singapore High Court seeking a moratorium under Section 64 of the Insolvency, Restructuring, and Dissolution Act 2018. The application,...