The SEC has yet again cracked down on crypto fraud. The agency has charged the man behind PGI Global, Ramil Palafox, for running a massive $198 million scam through his company, PGI Global, which falsely claimed to be a crypto and forex trading platform.
As per the SEC’s press release, from January 2020 through October 2021, Palafox promised investors massive returns through ‘membership packages’ and also offered them multi-level marketing-like referral incentives in order to encourage them to recruit new investors.
Over $57 Million Investor Funds Misused
Palafox misappropriated over $57 million in investor funds to fund his lavish lifestyle like buying Lamborghinis, items from luxury retailers and for other personal expenses. Further, he also used up the left investor money to pay other investors their returns and referral bonuses, like a classic Ponzi scheme, until it collapsed in 2021.
“As alleged in our complaint, Palafox attracted investors with the allure of guaranteed profits from sophisticated crypto asset and foreign exchange trading, but instead of trading, Palafox bought himself and his family cars, watches, and homes using millions of dollars of investor funds,” said Scott Thompson, Associate Director of the SEC’s Philadelphia Regional Office.
Laura D’Allaird, Chief of the Commission’s new Cyber and Emerging Technologies Unit added that Palafox fooled investors by pretending to be a crypto expert with advanced AI trading technology.
SEC Seeks Penalties and Recovery of Funds
The SEC has charged Palafox with violating anti-fraud and securities laws, seeking permanent bans, the return of ill-gotten gains, and civil penalties. Palafox also faces criminal charges filed by the U.S. Attorney’s Office for the Eastern District of Virginia.
These actions show the SEC’s ongoing efforts to hold individuals and companies accountable for fraudulent activities in the crypto sector. Regulators are increasingly targeting deceptive practices, from Ponzi schemes to illegal staking services, indicating that the crypto space will be held to the same legal standards as traditional financial markets.
In a positive development for Coinbase, Alabama has officially dropped its enforcement action against the cryptocurrency exchange. This decision marks a shift in the legal challenges facing the company regarding its staking program.
Currently, only five states continue to pursue legal cases against Coinbase’s staking services.
Alabama Drops Coinbase Lawsuit Over Staking
Alabama’s Securities Commission had accused Coinbase of offering unregistered securities through its staking rewards program. The staking service allows users to lock up their digital assets to help verify transactions on a blockchain network. In return, Coinbase provides rewards to the users, and the company earns a commission for facilitating the process.
State regulators, including those from Alabama, argued that the program was an investment contract that would require registration under securities laws.
We’re halfway there: Alabama just dropped its enforcement action against @coinbase – cutting the number of states with misguided staking suits in half in just two months. 1/3 pic.twitter.com/MWVnl30BTl
While the Alabama case may have been dropped, the crypto exchange still faces legal challenges elsewhere, including in Oregon. A development came from pro-XRP lawyer John Deaton, who sharply criticized Oregon’s Attorney General Dan Rayfield’s stance in the state’s case against the crypto exchange. Deaton questioned the rationale behind the legal action, calling Rayfield’s arguments illogical and potentially harmful to the broader cryptocurrency ecosystem.
Other States Involved in Legal Actions
Several states, including California, Illinois, and Washington, filed the Coinbase lawsuit after a multi-state investigation spearheaded by the U.S. Securities Exchange Commission.
The ten states, including Alabama, brought legal suits against Coinbase for allegedly violating laws governing securities in the states through its staking program. While some have issued cease and desist letters to the crypto exchange, others have threatened to fine the company or have flat out banned the provision of staking services.
However, several states have backed down since then, including the US SEC in February this year. Kentucky, Vermont and South Carolina even dismissed their own cases against the exchange and now this is also the case with Alabama. The exchange’s legal department has continually defended the staking activity, saying it is legal and has acted against such trends.
California, Maryland, New Jersey, Washington, and Wisconsin are the only states still actively pursuing legal action against the company. As Coibase’s Chief Legal Officer says, the legal situation is shifting and he would like to see more states withdraw their actions like Alabama.
Shifting Focus to Federal Regulation
Paul Grewal argued that the current patchwork of state-level regulations on staking services is confusing consumers and businesses in the crypto space. He pointed out that four of the remaining states have imposed complete bans on Coinbase’s staking service. These actions, in his opinion, misallocate taxpayer resources.
“It’s time for these outliers to follow suit,” said Grewal. He stressed the need for a clear, federal regulatory framework for digital assets. With the recent drop of the SEC’s own federal case against the crypto exchange over staking, the focus is now on whether Congress will intervene and create a more unified approach to regulating cryptocurrencies.
Coinbase has long advocated for clearer and more consistent regulations for the crypto industry, which would help provide more certainty to both consumers and businesses. The ongoing legal battles in various states only highlight the challenges posed by the lack of a comprehensive federal framework, which the crypto community await to change under the new US SEC Chair Paul Atkins.
Dogecoin price may reach a maximum of $1.07 in 2025.
With a potential surge, the DOGE price may achieve its $3 mark in 2030.
Dogecoin, the memecoin category leader, has been surfing the rough tides of the market. Amidst the turn of events, marketers are hoping for it to match its June 2021 high.
As the underlying dynamics shift amid broader market volatility, investors have started wondering, “Will Dogecoin reach $1?” to “Will Dogecoin go up?” Are you wondering the same? Worry not.
Coinpedia’s Dogecoin price prediction 2025 to 2030 will clear all such doubts. Look at this well-researched and detailed DOGE price prediction for the upcoming moves.
With Elon Musk leading the D.O.G.E department with Vivek Ramaswamy in Donald Trump’s 2.0 administration, the DOGE price is projected to jump back toward its 2021 levels.
If the FOMO around Dogecoin continues to grow and if influencers promote the coin, then its price could reach $1.07. However, if Dogecoin cannot maintain its current growth rate, its price will likely average out at $0.84 in a highly competitive market.
On the other hand, if Dogecoin fails to stay relevant in 2025, the price of DOGE can plunge to a low of $0.62.
Based on the historic market sentiments, and trend analysis of the altcoin, here are the possible Dogecoin price targets for the longer time frames.
Year
Potential Low ($)
Potential Average ($)
Potential High ($)
2031
3.01
3.49
3.98
2032
3.79
4.47
5.16
2033
4.96
5.87
6.79
2040
14.22
19.62
25.02
2050
54.99
104.95
154.91
Market Analysis
Firm Name
2025
2026
2030
Changelly
$0.321
$0.286
$1.22
Coincodex
$0.456
$0.313
$0.729
Binance
$0.327
$0.343
$0.417
CoinPedia’s DOGE Price Prediction
According to CoinPedia’s formulated Dogecoin price projections for 2025, if the trading volume of Dogecoin rises, then we can expect the DOGE price to surge to $1.07 as the year ends.
On the other hand, if the market is hit again by external forces like regulations or negative statements by influencers. Hence, the meme coin might trade at a potential low of $0.62.
We expect the DOGE price to reach a new swing high of $1.07 by the end of 2025.
Year
Potential Low
Potential Average
Potential High
2025
$0.62
$0.84
$1.07
Can DOGE Break the $1 Barrier?
Given DOGE’s success, largely driven by hype with some technical progress, crossing $1 by 2025 remains a realistic possibility. A sustained media frenzy and growing endorsement deals could maintain bullish momentum. Expanded merchant adoption would also strengthen confidence in its long-term viability.
Dogecoin’s Tokenomics and Long-Term Outlook
The future of Dogecoin hinges on its utility. Meme popularity alone may not sustain it indefinitely, but advancements in transaction fees, speed, and business collaborations could help it thrive as a mainstream digital currency. Its large and passionate community will likely continue to drive positive evolution.
Conclusion
Given Dogecoin’s past price behavior, driven largely by online hype and media coverage, it has the potential to reach over $1 in 2025. DOGE has shown remarkable resilience, and key factors like expanded merchant adoption, community growth, and protocol upgrades could enhance its viability.
According to our DOGE price prediction, the meme coin might hit a maximum of $1.07 in 2025.
How much is Dogecoin worth today?
At the time of writing, the Dogecoin value was $0.2027.
How high can the DOGE price go by the end of 2030?
With a potential surge, the price may go as high as $3.03 by 2030.
Is Dogecoin a good investment?
Yes, Dogecoin might definitely be a good investment, if you are looking to invest for the long term.
Is Dogecoin dead?
No, Dogecoin is not dead right now, the peaks and troughs are normal in the cryptocurrency industry. Major announcements and happenings will eventually drive the price.
What is Dogecoin used for?
Dogecoin was developed as a digital form of payment system, similar to Bitcoin or Litecoin.
How much would the price of Dogecoin be in 2040?
As per our latest DOGE price analysis, this memecoin could reach a maximum price of $25.02.
How much will the DOGE coin price be in 2050?
By 2050, a single Dogecoin price could go as high as $154.91.
The post Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1? appeared first on Coinpedia Fintech News
Story Highlights The price of Dogecoin today is . Dogecoin price may reach a maximum of $1.07 in 2025. With a potential surge, the DOGE price may achieve its $3 mark in 2030. Dogecoin, the memecoin category leader, has been surfing the rough tides of the market. Amidst the turn of events, marketers are hoping …
As South Korea continues to strengthen its crypto regulations, the Financial Intelligence Unit (FIU) has requested Google to block access to 17 unlicensed crypto exchanges. These unregistered virtual asset service providers (VASPs) include KuCoin, MEXC, Phemex, XT, CoinEx, BitMart, and Poloniex, among many others.
Reportedly, Google has responded positively to the FIU’s request. As a result, South Korean users will no longer be able to access these listed platforms, effective yesterday.
South Korea Tightens Regulations: Google Blocks 17 Crypto Exchanges
In a recent development, South Korea’s FIU has requested Google to block users from accessing 17 unlicensed crypto exchanges, including KuCoin, MEXC, Phemex, XT, CoinEx, BitMart, and Poloniex. As part of the move, Google blacklisted these platforms since yesterday.
Notably, South Korea’s decision to block access to these crypto exchanges comes amid growing concerns over crypto theft and money laundering activities. Recently, South Korea announced its potential regulatory revamp in a move to strengthen the country’s anti-money laundering rules.
Google Restricts Downloads and Updates
The Financial Services Commission (FSC) enlisted 22 unregistered platforms on March 26. In response to the South Korean financial regulator’s request, Google has blocked users’ access to the crypto exchanges that are deemed unregistered. In addition, the Google Play Store will not allow users to download or update the applications of these crypto exchanges.
Meanwhile, the FIU asserted that the financial watchdog is collaborating with Apple Korea and the Korea Communications Standards Commission (KCSC) to block both internet and App Store access to these exchange platforms.
Interestingly, the FSC believes that this strategic measure could help prevent money laundering activities involving crypto assets and potential future harm to local users. This move comes just a few days after the FIU launched a crackdown on these exchanges. It is alarming that KuCoin, one of the top crypto exchanges, is also facing intense scrutiny from FIU.
South Korea’s Crypto Regulations: What To Expect More?
Significantly, South Korean regulators mandate crypto exchanges to adhere to the country’s licensing rules before offering services. The restrictions apply to foreign platforms that cater to Korean users by offering Korean-language interfaces, conducting targeted marketing campaigns, or facilitating transactions in Korean won.
According to FIU’s official statement, the platforms that violate these laws could face up to five years in prison or fines of up to 50 million won (approximately $34,150).
South Korea vs United States: Crypto Regulatory Views
South Korea’s rigid crypto regulations come amidst the United States’ loosened norms under President Donald Trump. While South Korea is restricting access to crypto exchanges and tightening regulations, the US is dismissing prevailing crypto lawsuits.
This distinct regulatory trend highlights the two countries’ differing approaches to balancing innovation and investor protection in the rapidly evolving crypto market. The wider implications of these approaches remain differing with South Korea’s caution likely to influence Asian markets and the US’s permissiveness potentially shaping Western regulatory norms.
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