WuBlockchain’s daily crypto roundup covered five developments spanning U.S. legislation, macro data, a lawsuit against wallet maker Ledger, Russia’s new crypto law, and a fraud takedown in Ukraine.
Atkins calls for swift movement on the CLARITY Act
U.S. Securities and Exchange Commission Chair Paul Atkins said he wants Congress to move the CLARITY Act as soon as possible and send it to President Donald Trump for signature. He also said the SEC is continuing to develop rules suited to blockchain and crypto asset markets.
The U.S. Senate has set Sept. 15 for a key procedural vote on the CLARITY Act. The measure needs 60 votes to move into formal consideration. Even if the legislative process remains blocked, the SEC and the Commodity Futures Trading Commission plan to use their existing authority to keep advancing a regulatory framework for crypto markets.
U.S. initial jobless claims come in at 206,000
For the week ended Aug. 29, U.S. initial jobless claims were 206,000, compared with expectations of 205,000. The prior reading was revised to 204,000 from 203,000.
Ledger faces class action in New York federal court
Crypto hardware wallet maker Ledger has been sued in a class action filed in the U.S. District Court for the Southern District of New York. Plaintiff Douglas Kim alleges that Ledger failed to adequately protect customers’ personally identifiable information, or PII, and did not disclose in a timely manner a data breach that allegedly occurred in December 2023.
According to the complaint, hackers obtained sensitive customer information including names, email addresses, and phone numbers, then used that information to impersonate Ledger and trick users into approving fraudulent crypto transactions. The plaintiff also cited Ledger’s 2020 data breach, which involved about 270,000 customers, and alleged longstanding problems in the company’s security and disclosure practices.
Russian crypto law takes effect, domestic trading still pending
Russia’s law on digital currency and digital rights took effect on Sept. 1, but domestic cryptocurrency trading has not fully launched because supporting regulations are still incomplete.
Russia’s finance ministry and central bank had previously estimated that about 80 supporting documents would be needed for the crypto market. All necessary documents are expected to be ready before early December. At the current stage, the new law mainly opens the door to cross-border crypto settlement for businesses, while banks, brokers, and digital asset custodians are preparing the infrastructure for domestic trading.
Ukraine dismantles Kyiv-based crypto phishing group
Ukraine’s National Police and the Security Service of Ukraine, or SBU, said they dismantled a fake crypto investment platform network. Investigators said the operation was organized by a 25-year-old IT worker who recruited more than 46 Ukrainian nationals and set up multiple sites in and around Kyiv. At its peak, the group generated monthly turnover of as much as $1 million.
Authorities said the group used Telegram channels to run fake crypto investment ads and direct victims to sham investment platforms, where fake profit data was entered manually. When victims tried to withdraw funds, the group allegedly asked them to link their main wallets and approve a small "test" transaction to "verify platform operations." That step then triggered embedded malicious code that emptied the victims’ wallets.
Police have so far identified 62 victims from more than 20 countries, including Germany, the UK, France, Poland, Canada, and Israel. Ukrainian law enforcement carried out 34 searches in Kyiv and seized more than 100 computers and phones, 79 SIM cards, and 15 luxury vehicles tied to the case. The investigation is continuing under Ukraine’s fraud statutes.