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The Federal Court of Canada has ruled that Prime Minister Justin Trudeau’s use of emergency legislation to suppress the “freedom convoy” protests in 2022, was “unreasonable.” On Jan. 23, a Canadian federal court ruled that Prime Minister Justin Trudeau’s decision to use Canada’s Emergencies Act to freeze crypto used to support truck convoy protest ers in 2022 was an unjustifiable infringement of civil rights. The Federal Court of Canada particularly deemed the freezing of bank accounts and crypto for individuals associated with the protest unjustified. However, it rejected claims that the government had violated various other rights. Federal Court Justice Richard Mosley noted the government cannot simply invoke the Emergencies Act “because it is convenient, or because it may work better than other tools at their disposal or available to the provinces,” adding that this measure should only be considered as a “tool of l...

After Changpeng Zhao, the (now former) CEO of cryptocurrency trading platform Binance, pleaded guilty as part of the over $4 billion settlement with the United States regulators to keep the business running, the US Securities and Exchange Commission (SEC) has continued to probe Binance.US. Indeed, the SEC is still looking for evidence that the company and its founder may have a backdoor – similar to that of the crashed crypto exchange FTX – to control assets stored on the Binance.US platform, according to a report on November 27. Specifically, at a Monday status conference, Binance.US argued that the SEC could not prove any misuse of the users’ assets and was overstepping while the regulators invoked the major questions doctrine requiring clear congressional authorization for regulatory actions. A joint status update is pending until mid-December. Binance’s court troubles As a reminder, Binance Holdings Limited, the entity operating the world’s largest crypto exchange,...

The Estonia-based firm noted that only one plaintiff in the class action lawsuit is actually based in Colorado where the suit was filed. The company behind Atomic Wallet has asked a United States court to dismiss a class action suit seeking damages from a $100 million hack arguing the claims should’ve been filed in Estonia where it's based. In a Nov. 16 dismissal motion in a Colorado District Court the Estonian firm argued it has “no U.S. ties” and its end-user license agreement required all litigation against it be filed in its home country of Estonia. Atomic also argued that only one user in Colorado was allegedly affected — which wasn The firm also claimed the 5,500 allegedly affected Atomic users agreed to its terms of service which expressly disclaims liability for losses due to theft and limits damages to $50 per user Atomic’s motion to dismiss the class action laid against them. Source: PACER Atomic said the plaintiff’s negligence claims also lack legal merit because a lega...

The SEC must appeal Grayscale’s win in a D.C. Appeals Court on Oct. 13, or it will have to approve — or try to delay — the firm’s Bitcoin ETF bid. The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts say there could still be ways for the SEC to delay approval of Grayscale’s spot Bitcoin ETF conversion. On Oct. 13, the SEC must either appeal the D.C. Circuit Court of Appeals decision to the U.S. Supreme Court, request the Appeals Court revisit its ruling , or follow the court’s August order and review Grayscale’s bid to change its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. In an Oct. 12 post responding to an X user's question, Bloomberg ETF analyst Eric Balcun...

A federal judge has temporarily halted a proposed deal between Voyager and Binance.US in order to give the government more time to pursue appeals that challenge the deal. Voyager Digital’s $1 billion sale to Binance.US has been temporarily halted by a federal judge after a request by the United States government for an emergency stay. The request for an emergency stay was granted by Judge Jennifer Rearden of the U.S. District Court in New York on March 27, meaning the potential deal between Voyager and Binance.US will now need to wait until at least a decision is made on the Department of Justice’s appeal against the bankruptcy plan. District Court Judge Jennifer Rearden granted approval of the U.S. DOJ’s emergency motion. Source: Court Listener The DOJ filed the emergency application for a stay on March 17. This motion was promptly challenged by Voyager Digital and the Official Committee of Unsecured Creditors on March 20 and responded to again by the DOJ in a final “reply” motion on...