# Is DeFi Illegal Now?

*Author: Bankless*
*Published: Oct 9, 2024*
*Source: https://www.bankless.com/de/is-defi-illegal-now*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/09/Frame-50572--1--2--2-.png)](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-bankless-guide-to-scroll&email=true)

  

Is DeFi Illegal Now?
    
  

  
  Published on Oct 9, 2024

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Wash Trading Crackdown
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/Group-14---2024-10-09T161400.666.png)](https://www.bankless.com/dashboard)- 🧺 **U.S. Prosecutors Go After Wash Trading Scams.** Prosecutors [charged](https://www.theblock.co/post/320347/us-government-charges-four-crypto-companies-and-14-people-for-fraud-reuters) 4 companies and 14 people over crypto fraud and market manipulation.
- **👤 HBO Doc Suggests Early Bitcoin Dev is Satoshi.** The new documentary [suggests](https://www.theblock.co/post/320144/hbo-documentary-suggests-peter-todd-is-bitcoin-creator-satoshi-nakamoto-who-denies-it-online) that developer Peter Todd is Satoshi Nakamoto, a claim Todd denied and the broader crypto community shrugged off.
- 💰 **VanEck Debuts $30M Ventures Arm. **The seed-stage fund will [invest](https://www.coindesk.com/business/2024/10/09/vaneck-to-invest-in-early-stage-ventures-including-crypto-with-new-30m-fund/?_gl=1*mxinqw*_up*MQ..*_ga*MTQ5MjY4OTYzMi4xNzI4NTA5OTUw*_ga_VM3STRYVN8*MTcyODUwOTk1MC4xLjEuMTcyODUwOTk1Ny4wLjAuMTczNTkzOTM2NQ..) in crypto startups as well as fintech and AI-related ventures.

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    MARKET VIBES

  
  

Wall Street Surge
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: **Bitcoin dipped back to $60K as crypto investors enviously eyed Wall Street gains. Both the S&P 500 and Dow Jones Industrial Average hit new records Wednesday, even as China's Shanghai Composite was hit with the worst sell-off since early-2020.

Prices as of 6pm ET
24hr
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       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.12T
       

  
    
    ↘ 2.5%
    
  

   
    
    ↗ 0.9%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $60,679
       

  
    
    ↘ 2.6%
    
  

   
    
    ↗ 0.3%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,369
       

  
    
    ↘ 3.3%
    
  

   
    
    ↗ 0.5%
  

 

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    LATEST POD
    
    
  
  

Is DeFi Illegal Now?
  
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/Group-7--69-.png)](https://www.youtube.com/watch?v=SPTtazrmy-k)Last month, a U.S. judge ruled that "control of funds was not necessary" for money transmitter laws to apply to Tornado Cash developer Roman Storm. This decision has sent shockwaves through the crypto world, raising an urgent question: **Did this ruling just make DeFi development illegal by default?**

Crypto lawyer Jake Chervinsky is here to help us unpack what this all means. Jake, who serves as Chief Legal Officer at Variant Fund and sits on the board of the DeFi Education Fund, has called the Tornado Cash cases some of the most important legal battles in crypto history.** **

*Hear all of the analysis*!* *👇

[Watch on YouTube](https://www.youtube.com/watch?v=SPTtazrmy-k)[Listen on Spotify](https://open.spotify.com/episode/4IgXeYEuPG3r4FFKED4Vmw?si=7a5c5d0225144d9b)

.  .  .

 
  
    

LEARN

  
  
    
Get Caught Up on Scroll
  
  
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/10/image---2024-10-09T145638.205.png)](https://www.bankless.com/the-bankless-guide-to-scroll)Scroll's long-awaited airdrop is almost here. We've learned more about the SCR governance token airdrop plans, and here's the wild thing – ** the final snapshot still hasn't happened.**

We've had quests for the Scroll ZK L2 in our [*Airdrop Hunter*](https://www.bankless.com/airdrop-hunter) tool for more than a year. Today, we've also updated our **Bankless Guide to Scroll** with early details on the coming token drop.

*Check it out *👇

[Read More on Bankless.com](https://www.bankless.com/the-bankless-guide-to-scroll)
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