Jane Street Accused of Insider Trading Related to Terraform Collapse

India's crypto regulatory gap sparks a rights protection dilemma: courts reject investors' claims, and fund freeze disputes escalate

February 25 News, the Delhi High Court recently dismissed a lawsuit filed by a group of cryptocurrency investors against a certain crypto platform. Judge Prushaindra Kumar Kaurav pointed out that the platform is a private company and does not meet the definition of a "state" entity under Article 12 of the Constitution, therefore it cannot be subject to judicial intervention under Article 226. The petition lacks a legally admissible basis. The lawsuit was initiated by investors such as Rana Handa and Aditya Malhotra, requesting the court to strengthen regulation of the crypto platform, and to direct the CBI or a special investigation team to intervene, as well as to unfreeze the user funds that are reportedly restricted. However, the court explicitly stated that ordering a criminal investigation is an extremely exceptional circumstance, and some complaints have not even completed the FIR process, which is insufficient to trigger a mandatory investigation mechanism.

Bitcoin Depot Requires ID for Every Crypto ATM Transaction

Bitcoin Depot has implemented a new policy mandating identification for every transaction at its ATMs to enhance compliance and reduce fraud. This change extends previous ID checks and responds to increased regulatory scrutiny and fraud concerns, notably following lawsuits from various states.

Jane Street faces insider trading allegations, raising suspicions behind the crypto crash

Jane Street faces allegations from Terraform Labs, claiming it profited by using non-public information to close positions early before the 2022 UST collapse. Jane Street denies the allegations, asserting that the trades were part of normal market-making activities. This case could impact the legal definition of insider trading within the cryptocurrency market. As a major crypto market maker, Jane Street's trading activities are often scrutinized during significant market events, but it has not yet been found legally liable by regulatory authorities.