The lawsuit, filed by former congressional staffer Joe Kent in the U.S. District Court for the Eastern District of New York in October 2021, alleged the DeFi platform violated New York state’s gambling laws by “allowing people to evade financial regulations and scam consumers,” according to the original complaint. Kent, who previously worked for crypto skeptic Sen Elizabeth Warren (D-Mass), filed the suit as an apparent test case as legislators explored avenues to pursue legal actions against DeFi actors.
Bitcoin Falls to $62K as Hong Kong ETFs Fail to Meet Expectations
Bitcoin fell below $62,000 during the European morning, having treaded water around $63,000 throughout most of the Asian session. BTC...