More regulation by enforcement from the U.S. SEC and an American crypto compliance officer

is denied bail in Nigeria. This is Quaintest Daily. I'm your host Christine Lee.

The U.S. Securities and Exchange Commission is suing crypto market maker Cumberland DRW. The regulator alleging

Thursday, the company, quote, bought and sold crypto assets as securities, such as Polygon's

pole and Solana's sole tokens, but did not register as a securities dealer. Cumberland pushed back

against the suit posting on X, quote, we are not making any changes

to our business operations. We are confident in our strong compliance framework and disciplined

adherence to all known rules and regulations, even as they have been a moving target. It wasn't

long ago, ETH was claimed to be a security. Crypto Exchange Bitnomiel is suing the SEC, saying in a lawsuit Thursday that the regulator

overextended its jurisdiction in seeking to regulate a proposed XRP futures contract

that should fall solely in the remit of the Commodity Futures Trading Commission.

Bitnomials stating that they disagree with, quote,

the SEC's view that XRP is an investment contract and therefore a security and that XRP futures

are thus security futures. Bitnomials case alleging SEC overreach follows a similar filing

by Exchange Crypto.com on Tuesday. Nigeria denies bail for American Crypto Compliance Officer Tegrin Gambarian Friday.

Gambarian has been detained in Nigeria since February on charges related to his employer

Binance that were later dropped.

After being transferred to the notorious Koujee prison, Gambarian developed malaria, pneumonia, and an aggravated

disc that has left him unable to walk unassisted.

Gambarion's wife saying in a statement, quote, it is completely unjust to deny someone in

Tegrin's condition the opportunity to seek appropriate medical help. I will continue

fighting for my husband's

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