Four state-level lawsuits against three celebrities and individuals tied to the EMAX token may proceed after a California judge’s ruling. Investors who were parties to a 2022 lawsuit may be closer to pursuing legal action against celebrities who promoted the EthereumMax (EMAX) token after a recent decision by a California judge. In a Wednesday filing in the US District Court for the Central District of California, Judge Michael Fitzgerald granted a motion allowing class-action lawsuits filed in four US states to move forward, but denied the request for a nationwide class against EMAX promoters. The order will allow cases involving investors who purchased EMAX between May 2021 and June 2021 to continue in New York, California, Florida and New Jersey. “Plaintiffs have demonstrated that the proposed state classes comport with the requirements of Federal Rules of Civil Procedure,” the Wednesday filing reads. “However, the risk of inappropriate extraterritorial application of California and Florida law is simply t...
Donations to the embattled software developer increased after Wednesday’s partial verdict and the possibility of a retrial. Tornado Cash developer Roman Storm’s legal defense fund is seeing an influx of donations as the software creator’s defense team preps for a possible retrial on charges of money laundering and sanctions violations. The Ethereum Foundation on Thursday said it will match up to $500,000 in donations to Storm’s defense fund. The jury in Storm’s trial was deadlocked — unable to reach a unanimous verdict — on two of the three counts against him, finding the developer guilty of running an unlicensed money transmitter. “Mistrials by hung juries do not trigger double jeopardy, so the defendant can be tried again,” Brandon Ferrick, general counsel at Douro Labs, told Cointelegraph. Read more
Ukraine has had some regulatory starts and stops when it comes to crypto, though momentum for a regulatory bill has picked up since 2024. Ukraine’s parliament plans to conduct the initial reading of a crypto regulation bill by late August, according to government officials. The legislation, if approved, could establish a legal framework for digital assets aligned with European standards. “The preparation of a draft law on taxation of transactions with virtual assets is currently in the final stage,” Danylo Hetmantsev, head of the parliamentary committee on finance, tax and customs policy, told Cointelegraph. “It is estimated that its submission for the first reading in the Verkhovna Rada is scheduled for the end of August 2025.” Read more