Regulation
A Divide on Roger Ver’s Release

Roger Ver, also known as “Bitcoin Jesus,” has been at the center of a high-profile case, with many calling for his pardon. In a recent development, Ethereum founder Vitalik Buterin expressed support for Ver, urging the government for his release.
However, DOGE agency’s Elon Musk has reversed his stance on Roger Ver’s pardon. He argued that Ver is no longer eligible for a presidential pardon since he renounced his US citizenship.
Vitalik Buterin Supports Bitcoin Jesus, Calls for Pardon
Notably, Vitalik Buterin, the Ethereum blockchain’s co-founder, is raising concerns over Roger Ver’s politically motivated prison sentence. In his latest X post, Vitalik Buterin speaks out against the injustice against Ver, who is currently facing life imprisonment for non-violent tax offenses. Buterin thinks the case is driven by political agendas, drawing parallels with Ross Ulbricht’s case, which highlights inconsistent sentencing practices.
In addition, Vitalik Buterin stated that Roger Ver’s outspoken advocacy for freedom and his rejection of coercive state power may have made him a target for selective prosecution. The Ethereum founder argued that this is a tactic used to undermine constitutional protections like the First Amendment, which guarantees free speech.
Harsh Tax Regime: Ethereum Founder Demands Fundamental Rights Protection
Furthermore, Vitalik Buterin criticized the US tax regime. He stated that the tax-by-citizenship and exit tax system are extreme compared to other countries. The United Kingdom, for example, only charges capital gains if an individual returns within five years.
Notably, the US Internal Revenue Service (IRS) accused Ver of evading $48 million in taxes in April 2024. Subsequently, he was arrested in Spain. He is currently in Spain and may soon be extradited to the US for a possible sentence of 109 years.
Addressing these concerns, Vitalik Buterin prioritized the need to oppose such practices as they erode fundamental rights. He advocated for treating “genuine good faith mistakes” like Roger Ver’s with penalties and similar measures, rather than prosecuting them.
The Ethereum founder is notably a proponent of security and user protection. Recently, Buterin highlighted the significance of tackling crypto losses caused by non-thefts.
Elon Musk Denies Support for Roger Ver’s Pardon
In contrast to Vitalik Buterin’s support for Ver, the Department of Government Efficiency (DOGE) Chief Elon Musk has refused to back him. Citing Ver’s renunciation of US citizenship as the reason, Musk stated that he is now not eligible for a presidential pardon. Musk implies that Ver has relinquished his eligibility for a presidential pardon, along with other privileges and protections afforded to US citizens.
Elon Musk’s recent statement contrasts with his previous support for Ver. Previously, Elon Musk endorsed a pardon for Ver, ahead of Ross Ulbricht’s release. His views reignited the discussion on fair treatment for crypto innovators, drawing comparisons to his own experiences challenging regulatory frameworks.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
US SEC Hester Peirce Breaks Silence On Coinbase Lawsuit Dismissal

US SEC Commissioner Hester Peirce has spoken out following the dismissal of the civil enforcement action against Coinbase. The case, which accused the cryptocurrency exchange of failing to register as a securities platform, was dropped with prejudice on February 27. Hester Peirce, known for her pro-crypto stance, expressed her disagreement with the initial lawsuit, criticizing the SEC’s regulatory approach toward the crypto industry.
US SEC Hester Peirce Criticizes Regulation by Enforcement
US SEC Commissioner Hester Peirce has stated that she did not support the enforcement action against Coinbase, arguing that it was part of a broader SEC strategy to regulate the crypto industry through enforcement rather than formal rulemaking. She emphasized that regulatory clarity should come from the SEC’s policy divisions, not from enforcement actions.
According to Peirce, the previous SEC leadership’s decision to rely on enforcement created uncertainty, which she believes harmed the American public and the crypto industry. She argued that the unclear regulatory environment discouraged law-abiding innovators while allowing bad actors to exploit the system.
US SEC Commissioner Hester Peirce stated,
“Environments in which the law is unclear are havens for bad actors and hostile territory for law-abiding people legitimately trying to solve society’s problems and meet its needs.”
Impact on the Crypto Industry and Legal Costs
US SEC’s Hester Peirce argued that the SEC’s enforcement-heavy strategy led to costly legal battles for crypto companies, diverting resources away from innovation. She noted that instead of focusing on product development, many industry participants were forced to navigate complex legal frameworks to avoid regulatory penalties.
The enforcement action against Coinbase focused on the exchange’s listing of tokens that the SEC claimed were unregistered securities under the Howey Test.
US SEC Commissioner Hester Peirce criticized the SEC’s broad interpretation of the Howey Test, saying it created confusion within the industry. She stated that token issuers and other stakeholders were left to interpret regulatory intentions from hints in various SEC complaints.
New Approach with the Crypto Task Force
The dismissal of the Coinbase case coincides with the SEC’s decision to adopt a new regulatory approach. The Commission has established a Crypto Task Force, which will focus on developing a clearer regulatory framework for digital assets.
Peirce praised this change, noting that the policy staff, rather than enforcement personnel, will now lead public engagements to create workable crypto regulations.
US SEC’s Hester Peirce emphasized that this strategic shift does not mean the SEC will stop using enforcement actions when necessary. However, she welcomed the focus on creating transparent regulations, which she believes will better serve the public and the industry.
“This new approach drives today’s dismissal of the charges against Coinbase,” Peirce said, “but it does not signal an end to the Commission’s use of its enforcement tool in appropriate cases.”
Meme Coins Not Classified as Securities
Concurrently, the US SEC’s Division of Corporation Finance clarified its stance on meme coins, stating that transactions involving these assets do not constitute the offer and sale of securities. Meme coins, inspired by internet memes and trends, are typically bought for entertainment or cultural purposes, with their value driven by market speculation.
According to the Division, meme coins lack the characteristics of traditional securities since they do not generate income or confer rights to profits or assets. However, the SEC warned that fraudulent conduct related to meme coins could still face enforcement actions under other federal and state laws, according to a bill released yesterday.
Moreover, the dismissal of the Coinbase lawsuit is part of a series of recent resolutions in high-profile SEC crypto cases. The SEC also dropped enforcement actions against Opensea and Gemini, while closing its investigation into Robinhood Crypto without pursuing further action. Additionally, legal experts are speculating that the ongoing case against Ripple may soon be resolved, with both parties potentially agreeing to drop their appeals.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
CME Group to Roll Out Solana (SOL) Futures on March 17

The CME group has announced plans to launch Solana (SOL) futures on its derivatives marketplace on March 17. This is significant because it could easily pave the way for the approval of the Solana ETFs.
CME Group To Launch Solana (SOL) Futures On March 17
In a press release, the CME group, the world’s leading derivatives marketplace, announced that it plans to launch Solana (SOL) futures on March 17, subject to regulatory approval. Market participants will be able to trade both a micro-sized contract (25 SOL) and larger-sized contract (500 SOL).
Speaking on this development, the CME Group’s Global Head of Cryptocurrency Giovanni Vicioso said,
With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products to manage cryptocurrency price risk. As Solana continues to evolve into the platform of choice for developers and investors, these new futures contracts will provide a capital-efficient tool to support their investment and hedging strategies.
Per the announcement, the SOL futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which serves as a reference rate of the Solana price in USD. Solana will become the third crypto on the derivatives platform, alongside Bitcoin and Ethereum.
Significance Of The SOL Futures Launch
The CME Group’s launch of the Solana futures is significant as it could pave the way for the US SEC to approve the pending SOL ETF applications. Commenting on this development, the president of the ETF store Nate Geraci, also confirmed that the Solana futures launch “bodes well” for SOL ETF prospects.
Before now, the SEC, under Gary Gensler, had argued that crypto ETFs are easily susceptible to market manipulation. However, the court in Grayscale’s case against the Commission ruled that the futures and spot markets are correlated. If the SOL futures market launches, the Commission has no reason to deny a Solana spot ETF.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Upbit Operator Dunamu Files Appeal Against FIU Over New Customer Transaction Suspension

South Korean crypto exchange Upbit’s operator, Dunamu, has challenged the sanctions imposed by the Financial Intelligence Unit (FIU) by filing an appeal with the Seoul Administrative Court. As part of the legal action, Dunamu filed a lawsuit seeking to overturn the business suspension order and to halt the execution of the sanctions.
Upbit Operator Dunamu Seeks to Halt FIU’s Sanctions, Files Lawsuit
In a recent development, Dunamu, South Korean crypto exchange Upbit’s operator, filed an appeal against the Financial Intelligence Unit. The appeal seeks to cancel the business suspension order imposed by the FIU. In addition, the platform requests the court for a stay of execution, halting the implementation of the agency’s disciplinary actions.
Keeping specific details undisclosed, a Dunamu official stated,
We made a careful decision, and it is difficult to talk about the specific details…We will faithfully explain during the trial.
Dunamu Faces Business Suspension Order over Regulatory Obligations
Recently, South Korea’s FIU announced disciplinary actions against Dunamu citing its failure to meet key regulatory obligations. On Tuesday, the agency asked the platform to end business operations for three months. As part of the development, Dunamu would face restrictions on new customers’ crypto transactions.
In detail, the regulator banned Dunamu from facilitating new users to transfer cryptocurrencies from and to other exchanges from March 7 to June 6, 2025. However, the platform’s existing customers could continue trading activities during the suspension period.
Along with the business suspension order, the FIU also took disciplinary actions against Dunamu’s executives. Notably, the regulator sent a warning to CEO Lee Sirgo and dismissal orders or cautions for eight other employees.
Notably, South Korea’s increasing scrutiny over crypto platforms comes amid the US SEC’s loosened regulations. Recently, the SEC dropped multiple crypto lawsuits involving Coinbase, Robinhood, Uniswap, and Tron Foundation.
Upbit’s Crypto Regulatory Violations: Insights
Significantly, the FIU alleged Upbit and its operator breached several key regulations, including virtual asset transaction rules, customer verification requirements, and suspicious transaction reporting mandates. In particular, the regulator found Dunamu facilitating over 45,000 crypto transactions with 19 unregistered overseas virtual asset service providers.
In addition, the platform failed to adhere to the customer verification rules on a massive scale. In January, the FIU suspended Upbit’s operations, citing Know-Your Customer (KYC) violations. The agency also warned the company over violating the Specific Financial Transaction Information Act.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
-
Regulation19 hours ago
US SEC Hester Peirce Breaks Silence On Coinbase Lawsuit Dismissal
-
Market21 hours ago
Commissioner Crenshaw Publicly Attacks SEC Over Coinbase Suit
-
Altcoin21 hours ago
Here’s Why Dogecoin Price Could Hit $10 This Cycle
-
Market20 hours ago
Whales’ $600 Million XRP Accumulation To Drive Price Reversal
-
Market19 hours ago
PI Coin Rebound Possible After Drop – Could Recovery Be Near?
-
Market18 hours ago
Bitcoin ETFs See a Record $2.7 Billion Weekly Net Outflow
-
Market22 hours ago
Ethereum Foundation Launches Silviculture Society
-
Market14 hours ago
Top 3 Hidden Altcoin Gems For March
✓ Share: