Enforcement Actions

According to The Print, on May 22, officials from India’s Ministry of Electronics and Information Technology (MeitY) said that MeitY has officially issued a ban order to Polymarket, and is preparing to issue a similar order to Kalshi as early as Friday. The basis is Section 69A of the Information Technology Act. The relevant orders are directed to internet service providers, requiring them to block access to the above-mentioned websites at the network level; non-compliance faces up to 7 years’ i

Galaxy Digital and BitGo faced off in court this week as their legal battle over a failed merger continues, according to Bloomberg. The dispute stems from Galaxy Digital's termination of its acquisition of BitGo in August 2022, roughly four years after the companies announced plans to merge in

According to ThePrint, India's central government will formally block prediction market platforms Kalshi and Polymarket as soon as Friday (May 24). The Ministry of Electronics and Information Technology previously issued a blocking order against Polymarket. Both platforms were supposed to cease

According to Bloomberg on May 22, Galaxy Digital founder and CEO Michael Novogratz and BitGo CEO Mike Belshe both testified in Delaware Chancery Court this week. The two sides are litigating over a $1.2 billion cryptocurrency M&A agreement that collapsed in August 2022, with BitGo seeking at least $100 million in a reverse termination fee. Source of the lawsuit and legal timeline: a full five-year chronology The legal dispute between Galaxy Digital and BitGo has spanned five years. The following

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins announced on May 21 that the fund sponsors agreed to delay the listing of several event-contract ETFs so that the SEC can initiate a public comment solicitation process. On the same day, the U.S. Commodity Futures Trading Commission (CFTC) and the National Hockey League (NHL) announced that they have signed a memorandum of understanding on integrity, establishing an information-sharing and coordinated oversight framework around cont

According to Bloomingbit, on May 22, South Korea's Communications Standards Commission launched a review of global prediction market platform Polymarket to determine if it constitutes illegal gambling under local law. The commission received complaints and initiated the review, referencing

According to Decrypt, Missouri Attorney General Catherine Hanaway sued Bitcoin ATM operator CoinFlip, alleging it "knowingly facilitated fraudulent transactions." The lawsuit seeks $1.83 million in penalties and a ban on CoinFlip's operations in the state. CoinFlip denied the allegations as

According to Bloomberg, Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe faced off in court this week over a $100 million termination fee dispute stemming from a failed 2021 acquisition deal. BitGo is demanding Galaxy pay at least $100 million in breach damages, alleging that Galax

The U.S. Department of the Treasury sanctioned more than a dozen individuals and entities linked to the Sinaloa Cartel on May 20, adding six Ethereum wallet addresses to the Office of Foreign Assets Control (OFAC) sanctions list. The action targets networks accused of converting cash from fentanyl s

Opening The US Commodity Futures Trading Commission has signed a memorandum of understanding with the National Hockey League to help police prediction markets tied to professional hockey. The agreement, announced Thursday under CFTC Chair Michael Selig, is designed to protect professional hockey a

The U.S. Treasury sanctioned more than a dozen individuals and entities linked to the Sinaloa Cartel on May 20, adding six Ethereum wallet addresses to the Office of Foreign Assets Control (OFAC) sanctions list. According to Treasury, the action targets networks accused of converting cash from

According to Fox Business, the US Treasury Department froze approximately $500 million worth of cryptocurrency linked to Iran as part of efforts to target an Iranian cryptocurrency network estimated at $7.7 billion that the government allegedly established to circumvent US financial

Kate Fraher, Silvergate's former chief risk officer, settled with the US Securities and Exchange Commission in 2024 to avoid a prolonged court battle over claims that she misled investors about the bank's anti-money laundering controls and crypto customer monitoring. Fraher agreed to pay a $250,000

Kate Fraher, Silvergate's former chief risk officer, settled with the US Securities and Exchange Commission in 2024 for a $250,000 civil penalty and accepted a five-year ban from serving as a company executive or board director. She made her first public comments on the case on Monday after the

Michael Novogratz, billionaire founder of Galaxy Digital Inc., faced off in court this week with BitGo Holdings Inc. Chief Executive Officer Mike Belshe in their ongoing legal dispute over a proposed merger that collapsed four years ago when cryptocurrency markets declined. The original deal was

According to Chainalysis, on May 20 the firm published findings from an Italian tax evasion investigation that uncovered more than €1 million in undeclared capital gains generated through Bitcoin Ordinals and BRC-20 tokens. Investigators from Italy's Guardia di Finanza traced funds from a seized

The Commodity Futures Trading Commission and the National Hockey League signed a Memorandum of Understanding on Thursday to coordinate and share information "to protect the integrity of both professional hockey and related event contracts." The agreement represents the latest effort by the CFTC to b

On Wednesday, Missouri Attorney General Catherine Hanaway sued Bitcoin ATM operator CoinFlip, seeking $1.83 million in civil penalties and an operational ban, accusing the firm of knowingly facilitating fraudulent transactions targeting elderly consumers. CoinFlip called the lawsuit "meritless" and

According to Foresight News, the U.S. Commodity Futures Trading Commission (CFTC) and the National Hockey League (NHL) formally signed a memorandum of understanding on May 21 to coordinate oversight of professional hockey prediction markets on CFTC-regulated exchanges. Under the agreement, both

Missouri sued CoinFlip, accusing one of the largest U.S. crypto ATM operators of enabling scams, overcharging users, and violating consumer protection law. Summary Missouri seeks up to $1.83 million in penalties and restitution from CoinFlip. The state says CoinFlip operated more than 140 cryp