577:Regulatory Actions Shape Crypto Industry: Ooki DAO, Binance, and Robinhood

Overnighters,

Episode 577:
Ooki DAO loses to CFTC
Nigeria Hits Binance
Robinhood Drops 3 Coins
and More

Collect the Cover: awrd.gg/5359

The TL;DL

Ooki DAO loses to CFTC - Landmark ruling holds decentralized autonomous organization liable for unregistered commodities, setting a precedent for future actions against DAOs and decentralized exchanges. Ooki DAO was ordered to pay penalties, cease operations, and shut down its website.

Nigeria Hits Binance - Nigerian SEC orders Binance to stop operations in the country, citing lack of registration and regulation. Regulatory challenges for crypto businesses in Nigeria highlight the need for clearer guidelines and collaboration among regulators.

Robinhood Drops 3 Coins - Robinhood ceases support for Cardano, Polygon, and Solana cryptocurrencies due to SEC lawsuits against Coinbase and Binance. Decision reflects regulatory uncertainties and the company's commitment to advocating for clearer regulations.

Crypto.com halts US Institutional Services - Crypto.com suspends institutional services in the US due to low demand and challenging market conditions. Retail users can still access the platform while the company remains open to relaunching the service in the future.

Custodia's Crypto Legal Win - Custodia Bank progresses in its legal battle against the Federal Reserve over the denial of a master account. Wyoming defends its framework for crypto firms, highlighting the growing acceptance of digital assets in the financial landscape.

Crypto Overnighter Podcast (6/10/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

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