cryptojournalist
Coinbase is being sued by BiT Global Digital, which claims the exchange unfairly targeted Wrapped Bitcoin (WBTC). The lawsuit, filed on Dec. 13, accuses Coinbase of delisting WBTC to push its own version, cbBTC, and spreading false claims about WBTC’s standards.
Coinbase’s legal officer, Paul Grewal, defended the decision, saying the exchange only lists assets that meet strict requirements.
Kraken Australia Fined $5M
Kraken Australia’s operator, Bit Trade, was fined 8 million AUD ($5.1 million) for breaking financial rules. The court found the company operated as a credit provider without a license and failed to follow proper guidelines.
ASIC wanted a $12.8 million fine, but the court lowered it. Bit Trade’s counteroffer of $2.5 million was also rejected.
Vancouver Plans for Bitcoin Future
Vancouver’s City Council approved a motion to explore Bitcoin (BTC) integration. This could include holding BTC reserves or allowing Bitcoin payments.
Mayor Ken Sim, who proposed the idea, called it a step toward making Vancouver a “Bitcoin-friendly city.”
Judge Criticizes FDIC for Crypto Censorship
A federal judge criticized the FDIC for over-censoring letters advising banks to pause crypto-related activities. These letters came to light through a Coinbase-backed FOIA lawsuit.
The judge ordered the FDIC to revise the redactions and resubmit the documents by Jan. 3.
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