⚡️ News Flash - 27 Aug 2024 !

1️⃣ New Zealand Implements OECD Crypto Reporting Framework in New Tax Bill

New Zealand's Minister of Revenue proposed a bill on August 26 to implement the OECD's Crypto-Asset Reporting Framework (CARF) and amend the Common Reporting Standard (CRS). The bill also includes provisions for annual tax rates and tax relief measures.

2️⃣ Celsius Bankruptcy Plan Administrator Disburses Over $2.5B

Celsius has distributed over $2.53 billion to 251,000 creditors, covering 93% of eligible value. Around 121,000 creditors still need to claim their distributions.

3️⃣ U.S. SEC Settles with Abra Over Unregistered Securities Sales

Abra has settled with the SEC over allegations that it improperly offered Abra Earn without registering it as a security. The firm agreed to cease violations and accepted potential civil penalties, following a previous settlement with 25 states to return up to $82 million to U.S. customers.

4️⃣ SEC Accuses Sound Point Capital Management of Compliance Failures with Nonpublic Information

The SEC has fined Sound Point Capital Management $1.8 million for inadequate policies on material nonpublic information (MNPI) related to collateralized loan obligations (CLOs). The firm failed to implement proper procedures until 2022 and 2024, respectively, for its own and third-party CLOs.

5️⃣ California Judge Rules SEC's Case Against Kraken Will Proceed to Trial

A California judge has ruled that the SEC's lawsuit against Kraken will go to trial. The SEC alleges Kraken violated securities laws. Kraken's dismissal motion was partly granted, but the case will proceed to trial.

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