California regulators have fined crypto lender Nexo $500,000 for issuing thousands of loans without a required license, creating a setback for the firm's plans to resume U.S. operations.
The Manhattan District Attorney is seeking criminal charges against operators of unlicensed crypto businesses under the proposed CRYPTO Act, which would make such conduct a crime with penalties up to 15 years in prison. The move signals a sharper enforcement posture toward noncompliant crypto services.
California’s financial regulator fined Nexo $500,000, alleging the crypto lender made nearly 5,500 loans to state residents without a valid license and failed to assess borrowers’ ability to repay. The action underscores growing regulatory scrutiny of crypto lending products.
Authorities in Russia’s Far East have dismantled a mobile crypto-mining operation that consumed electricity worth millions of rubles. The setup was reportedly used to generate digital currency while bypassing regular power accounts.
Tennessee regulators have directed Kalshi, Polymarket and Crypto.com to halt all sports contract–related activities in the state. The move targets crypto-linked sports contracts and prediction markets operating in Tennessee.
The SEC has sued a Philadelphia-based Bitcoin mining operator, alleging an unregistered securities scheme and diversion of more than $48 million in customer funds. The filing treats third-party mining services as securities, increasing scrutiny on hosted mining offerings.
U.S. prosecutors say the virtual currency platform E-Note has moved more than $70 million tied to cybercrime since 2017, and the FBI has seized the exchange in a criminal probe.
A bipartisan group of U.S. senators has advanced the SAFE Crypto Act, which creates a dedicated task force to coordinate enforcement against cryptocurrency fraud. The move aims to tighten oversight and improve victim protections across federal agencies.
India's financial crime agency raided operations tied to a suspected $275 million crypto MLM accused of siphoning billions of rupees from investors across northern states. Authorities say the action is part of a widening money‑laundering probe that could lead to arrests and asset freezes.
Caroline Crenshaw, the SEC’s only remaining Democratic commissioner, is expected to step down in January after serving 18 months beyond her official term. She is reported to be planning increased focus on crypto oversight in her remaining time at the agency.