# Legal Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Legal", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Crypto Morning Brief: Flow Protocol Hacked, Major Unlocks for HYPE, SUI, EIGEN Tokens This Week

Crypto Morning Brief: Flow Protocol was hacked, with approximately $3.9 million exploited due to an execution layer flaw, though user deposits remain secure. The network is temporarily halted, with a target restart in 4-6 hours. Meanwhile, several tokens, including HYPE, SUI, and EIGEN, are set for significant unlocks this week, totaling hundreds of millions of dollars. In other news, Uniswap’s treasury burned 100 million UNI tokens ($596 million) following a passed proposal. Michael Saylor hinted at potential Bitcoin accumulation by MicroStrategy, while former Alameda CEO Caroline Ellison is scheduled for early release in January. Japan’s central bank emphasized the need for steady interest rate hikes in the coming months. Additionally, the SEC is shifting from enforcement to a "compliance" model starting in 2026.

深潮12/29 01:13

Crypto Morning Brief: Flow Protocol Hacked, Major Unlocks for HYPE, SUI, EIGEN Tokens This Week

深潮12/29 01:13

RWA Utility Tokens, Stop Kidding Yourselves

The article, written by lawyer Shao Jiadian, critically examines the common claim by RWA (Real World Asset) token projects that their tokens are "utility tokens" rather than securities. The author argues that regulatory bodies globally do not classify assets based on their self-proclaimed labels but on their actual economic function and structure. The core argument is that most so-called "utility RWA tokens" involve users investing money into a common asset pool managed by the project, with the expectation of profits derived from the project's efforts (e.g., dividends, revenue sharing from assets like real estate or equipment). This structure meets the criteria of an "investment contract" and is therefore treated as a security in major jurisdictions like the U.S., EU, Switzerland, and Hong Kong. Two key legal cases are cited as evidence: 1. **DeFiMoney Market (DMM):** Its fixed-yield token and "governance" token were both deemed securities by the SEC because investors' profits came from a managed asset pool. 2. **Unicoin (2025):** An asset-backed token promising returns from real estate and equity was charged by the SEC as an unregistered securities offering and fraud. The author highlights an inherent conflict: utility tokens emphasize *use* and *consumption*, while RWA tokens are fundamentally linked to *assets* and *returns*. Any token offering profit-sharing, dividends, or redeemable cash flows will be viewed as a security by regulators. The conclusion is stark: projects are not avoiding securities laws out of ignorance but to circumvent the stricter requirements of a regulated securities offering. The only viable paths to avoid securities classification are: 1. Purely functional tokens with no profit expectation. 2. Private offerings strictly for accredited investors. 3. Operating under specific regimes like Dubai's VARA that regulate security-like tokens as virtual assets. Ultimately, any RWA token offered to the public that is tradable and promises returns will almost certainly be treated as a security. The choice for projects is not between utility and security labels, but between "long-term compliance" and "short-term gambling."

marsbit12/25 03:13

RWA Utility Tokens, Stop Kidding Yourselves

marsbit12/25 03:13

Ripple Vs. SEC Lawsuit: What XRP Investors Should Know As The Year Draws To An End

The years-long legal battle between Ripple Labs and the U.S. SEC concluded in 2025, providing significant relief for XRP investors. The SEC initially accused Ripple of selling XRP as unregistered securities, but a 2023 ruling declared that XRP sold on public exchanges did not constitute securities transactions, marking a partial victory for Ripple. In 2024, Ripple was ordered to pay a $125 million civil penalty for institutional sales, far less than the SEC's initial $2 billion demand. A final 2025 settlement reduced the payment to $50 million and dissolved the injunction. The resolution ended years of regulatory uncertainty that had suppressed XRP's price around $0.50. Following key rulings, XRP's price surged to over $2 in late 2024 and exceeded $3 in 2025, boosting investor sentiment and adoption despite later pullbacks.

bitcoinist12/22 21:02

Ripple Vs. SEC Lawsuit: What XRP Investors Should Know As The Year Draws To An End

bitcoinist12/22 21:02

From Doubao Dispute to Big Tech Game: Decoding the Legal Compliance Dilemma of AI Phones

"From Doubao Controversy to Tech Giant Standoff: Decoding the Legal Compliance Dilemma of AI Phones" A recent user experience with AI-powered smartphones has triggered significant tension between AI developers and major internet platforms. Certain phones equipped with AI assistants, when attempting to perform automated actions like sending WeChat red packets or placing e-commerce orders via voice commands, were flagged by platforms for "suspected use of third-party plugins," leading to risk warnings and even account restrictions. This incident, while appearing to be a technical compatibility issue, reveals a deeper structural conflict over "who has the right to operate the phone and control user access." On one side are smartphone manufacturers and AI teams aiming to deeply integrate AI into operating systems for "seamless interaction." On the other are internet platforms whose business models rely on controlling app entry points, user pathways, and data ecosystems. This clash represents a fundamental challenge to the "walled garden" business model central to platforms like Tencent and Alibaba. The system-level AI assistant threatens this model in three key ways: it bypasses the need to click app icons (undermining ad revenue and user attention economies), potentially accesses platform data and content without formal interfaces (a "free-riding" concern), and shifts the role of "gatekeeper" for traffic distribution away from the super apps themselves. From a legal perspective, this conflict highlights four major risk areas: 1. **Competition Law:** AI's "simulated clicks" could be deemed unauthorized interference with software operation, potentially constituting unfair competition if they skip ads or bypass verification steps. 2. **Data Security:** For the AI to "see" screen content and execute commands, it processes sensitive personal data (chats, account info), raising significant questions under China's Personal Information Protection Law regarding valid user consent and the "minimum necessity" principle. 3. **Antitrust Issues:** Future disputes may center on whether dominant platforms, arguably essential facilities, can justifiably refuse AI access, or if such refusal constitutes an abuse of market power that stifles innovation. 4. **User Liability:** Questions arise regarding who is responsible if the AI makes an error (e.g., buys the wrong product) or if a user's account is suspended due to AI activity, potentially leading to consumer claims against phone manufacturers. This friction underscores a transition from an app-centric internet to an AI-agent-driven experience. The current legal framework struggles to address the integration of general AI. The sustainable solution likely lies not in technical workarounds like "simulated clicks," but in developing standardized protocols for AI interaction, balancing innovation with clear legal and compliance boundaries.

深潮12/19 03:15

From Doubao Dispute to Big Tech Game: Decoding the Legal Compliance Dilemma of AI Phones

深潮12/19 03:15

Solana Price Could Crash Below $5 – The Document That Has Taken The Community By Storm

A crypto analyst known as 'NoLimit' has issued a severe warning that Solana (SOL) could crash below $5, a 95.9% decline from its current $122 price. This prediction is based on an analysis of a US federal court case allowing a class action lawsuit to proceed against Solana Labs, Pump.fun, and other ecosystem players. The lawsuit alleges that Solana's infrastructure gives insiders an unfair advantage in meme coin launches, enabling them to buy tokens faster and cheaper, leading to market manipulation and significant losses for retail investors. The analyst warns that if the court finds these activities constitute unregistered securities or unfair practices, it could shatter institutional trust. With nearly half of SOL's supply held by insiders and VCs, a loss of confidence could trigger a mass sell-off, potentially leading to the collapse of the cryptocurrency, similar to past failures like FTX and Luna.

bitcoinist12/18 23:02

Solana Price Could Crash Below $5 – The Document That Has Taken The Community By Storm

bitcoinist12/18 23:02

Former SEC counsel explains what it takes to make RWAs compliant

Former SEC counsel Ashley Ebersole explains that regulatory engagement, not technology, has been the main constraint for real-world asset (RWA) tokenization. While the SEC initially took an enforcement-heavy approach after its 2017 DAO Report, the agency is now more open to dialogue. Compliant RWA models, such as tokenized equities that confer actual shareholder rights through regulated intermediaries, are feasible. However, challenges remain due to jurisdictional fragmentation—securities laws vary globally, and structures valid in the U.S. may not comply in the E.U. or Asia. Yield-bearing tokens also face scrutiny, as passive returns often trigger securities regulations. Despite these hurdles, growing institutional interest and regulatory shifts are enabling more compliant RWA products to advance.

cointelegraph12/17 13:46

Former SEC counsel explains what it takes to make RWAs compliant

cointelegraph12/17 13:46

Will Bitcoin Developer Keonne Rodriguez Be the Next Crypto Figure Pardoned by Trump?

On December 16, Bitcoin developer Keonne Rodriguez, co-founder of privacy-focused Samourai Wallet, was brought to President Donald Trump’s attention during a meeting at the Oval Office. Although not a pardon, Trump acknowledged the case and directed the Attorney General to look into it. Rodriguez is scheduled to begin a five-year prison sentence on December 20. Rodriguez developed Samourai Wallet, a non-custodial Bitcoin privacy tool offering features like Whirlpool (coin mixing) and Ricochet (transaction obfuscation). U.S. prosecutors arrested him and co-founder William Hill in April 2024, arguing that the service operated as an unlicensed money-transmitting business. Both later pleaded guilty, with Rodriguez receiving a five-year sentence. Evidence included internal messages where Rodriguez described mixing as “money laundering for bitcoin.” The case has sparked debate over whether privacy tools constitute innovation or criminal infrastructure. Trump has previously pardoned several crypto figures, including Ross Ulbricht, BitMEX executives, and Binance’s CZ, raising speculation about a possible pardon for Rodriguez. Even if pardoned, Samourai Wallet is unlikely to revive. However, its code has been forked into more decentralized successors like Ashigaru, reflecting persistent demand for financial privacy tools. The case underscores the tension between privacy technology and regulatory enforcement, with implications for future innovation and legal boundaries in the crypto space.

marsbit12/16 02:56

Will Bitcoin Developer Keonne Rodriguez Be the Next Crypto Figure Pardoned by Trump?

marsbit12/16 02:56

The New Frontier of Privacy Coins: Technology, Prevention, and Regulatory Game

Privacy coins are at a critical juncture, shaped by technological evolution, regulatory pressure, and judicial decisions. In 2024–2025, court rulings, law enforcement actions, and technical adjustments are redefining the boundaries of this sector. Key developments include debates over whether decentralized mixing tools constitute sanctionable property, cross-border crackdowns on anonymous transaction services in Europe and the U.S., and privacy-focused projects adopting more compliant technical designs. Judicially, U.S. courts have issued influential rulings questioning whether immutable smart contracts fit traditional legal frameworks. Meanwhile, European authorities continue to target mixing services accused of facilitating money laundering. Technologically, some privacy projects are incorporating optional privacy features, flexible fee mechanisms, and improved audit interfaces to enhance usability and reduce regulatory friction. Macro-trends show countries advancing comprehensive crypto regulatory frameworks covering custody, trading, stablecoins, and anti-money laundering (AML) standards. Regulatory bodies increasingly demand that high-privacy tools provide verifiable audit trails or compliance-friendly modes to access legal financial services. Looking ahead, three main trajectories are emerging: continued legal clarification around smart contracts and mixer liabilities, a shift in privacy protocols from absolute anonymity toward optional privacy with auditability, and a market reassessment of the regulatory risk associated with privacy assets. This is causing a strategic split within the industry—some communities insist on strong privacy for niche demands, while others pursue “compliance-friendly privacy” models like enterprise-grade confidential transactions or auditable privacy pools. In essence, privacy coins are transitioning from pursuing maximum anonymity to seeking sustainable existence within regulatory boundaries. Future judicial rulings, policies, and protocol upgrades will determine which projects survive market and legal pressures. Those offering meaningful privacy while maintaining legal compliance are most likely to endure.

cointelegraph_中文12/10 10:41

The New Frontier of Privacy Coins: Technology, Prevention, and Regulatory Game

cointelegraph_中文12/10 10:41

Behind Cryptocurrency 'Thefts and Scams': Why Does Civil Relief Frequently Encounter Obstacles?

Behind the surge in cryptocurrency "thefts and scams", why does civil relief frequently hit roadblocks? This article explores the legal challenges through two representative cases. In Case 1, a company paid 800,000 USDT to a Chinese employee of an overseas exchange for a listing service, only to have the employee disappear. Despite cross-border complexities and initial police refusal to accept the report (citing the company’s foreign status and claims that crypto "is not protected by law"), lawyers eventually secured case acceptance by invoking criminal procedure rules and citing regulatory recognition of virtual assets as property. However, formal立案 (case filing) is still pending. Case 2 involved a woman scammed into transferring over RMB 3 million to a USDT exchanger for a fake investment. While police quickly arrested the exchanger, the main scammer remained abroad. The exchanger was released due to lack of criminal intent, and a civil lawsuit against them for unjust enrichment was rejected at filing. The judge indicated that even if accepted, such cases rarely succeed. The analysis highlights key obstacles: the "criminal procedure takes precedence" principle often blocks civil suits until criminal proceedings conclude; if a criminal judgment orders restitution, further civil claims are barred; and bypassing criminal reporting to file civilly usually results in the case being referred back to police, wasting time. Ultimately, when crypto crimes are involved, civil relief is extremely difficult. The more viable path remains criminal prosecution, despite its own challenges, as civil victories are exceptionally rare in practice.

marsbit12/09 19:39

Behind Cryptocurrency 'Thefts and Scams': Why Does Civil Relief Frequently Encounter Obstacles?