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Policy
Heather 'Razzlekhan' Morgan Receives 18-Month Prison Sentence for Role in Bitfinex Hack
A US court has sentenced Heather Morgan, also known as 'Razzlekhan', to 18 months in prison for her role in laundering proceeds from the 2016 Bitfinex hack. Morgan's husband, Ilya 'Dutch' Lichtenstein, was sentenced to five years in prison last week for masterminding the theft of nearly 120,000 bitcoin. The couple was found to have laundered a significant portion of the stolen funds, using comple…
Nov. 18, 2024, 6:59 p.m.
Policy
Kalshi Asserts Congressional Authority is Required to Prohibit Election Betting in Latest Court Filing
In a recent court submission, Kalshi argued that the U.S. Commodity Futures Trading Commission (CFTC) lacks the authority to ban election betting, emphasizing that only Congress has the power to do so. This assertion is part of Kalshi's ongoing legal dispute with the CFTC, which began when the regulator attempted to block the company's event contracts related to election outcomes last September. …
Nov. 18, 2024, 6:33 p.m.
Policy
Exclusive Interview with El Salvador's Crypto Regulator: Pioneering a Financial Revolution
El Salvador has taken a pioneering approach to regulating cryptocurrencies, with the National Commission of Digital Assets at the forefront. In an exclusive interview, the commission's president, Juan Carlos Reyes, shared insights into the country's innovative regulatory framework. Reyes emphasized that El Salvador's small size and lack of existing financial infrastructure have proven to be advan…
Nov. 16, 2024, 6:53 p.m.
Policy
Husband of Razzlekhan Receives Five-Year Prison Term for Involvement in Bitfinex Hack
Ilya Lichtenstein, the 35-year-old husband of Heather Morgan, also known as Razzlekhan, has been sentenced to five years in prison for his role in the 2016 theft of around 120,000 bitcoin from the cryptocurrency exchange Bitfinex, as announced by the US Department of Justice. Lichtenstein utilized sophisticated hacking tools to gain access to the network and then fraudulently authorized over 2,00…
Nov. 15, 2024, 4:48 a.m.
Policy
Former SEC Chairman Jay Clayton Appointed to Key Role in DOJ Office
President-elect Donald Trump has announced that Jay Clayton, the former Chairman of the Securities and Exchange Commission, will serve as the U.S. Attorney for the Southern District of New York, overseeing the state's Department of Justice branch. Clayton, who advised multiple crypto firms after leaving the SEC in December 2020, previously oversaw the production of the SEC's DAO Report, which ass…
Nov. 15, 2024, 4:29 a.m.
Policy
US State Attorneys General and DeFi Lobby File Lawsuit Against SEC Over Crypto Regulatory Actions
A coalition of state attorneys general and the DeFi Education Fund has filed a lawsuit against the US Securities and Exchange Commission, alleging that the agency has overstepped its authority in pursuing enforcement actions against cryptocurrency exchanges. The lawsuit, filed in the US District Court for the Eastern District of Kentucky, requests that a federal judge block the SEC from pursuing …
Nov. 15, 2024, 12:08 a.m.
Policy
UK Government to Introduce Pilot Program for Digital Gilt Instrument Using Blockchain Technology
The UK government is set to launch a pilot program for a digital gilt instrument, similar to a government bond, utilizing distributed ledger technology, according to a statement released by the Treasury on Thursday. As part of her first Mansion House speech, Finance Minister Rachel Reeves will unveil the pilot program, dubbed the 'Financial Services Growth and Competitiveness Strategy', which inc…
Nov. 14, 2024, 6 p.m.
Policy
The Challenges of Blocking US Users and Their VPNs: A Probe into Polymarket's Compliance Issues
The recent probe into Polymarket highlights the long-standing compliance challenges faced by the crypto industry. At the core of the issue is the difficulty in preventing users from utilizing virtual private networks (VPNs) to bypass geographical restrictions imposed by governments. Polymarket, a crypto company that has seen significant success, is currently under investigation for allegedly allo…
Nov. 14, 2024, 3 p.m.
Policy
GOP Secures House Majority, Paving Way for Crypto Legislation in 2024
The Republican Party has retained control of the U.S. House of Representatives for the next two years, boosting prospects for comprehensive crypto legislation in the upcoming Congress and cementing a Republican trifecta for at least the next two years. Following Donald Trump's reelection to the White House and the party's capture of several Senate seats, the Republicans have secured a majority in…
Nov. 14, 2024, 3:48 a.m.
Policy
Federal Reserve Official Reconsiders Stance on Bitcoin
Neel Kashkari, a prominent figure at the Minneapolis Federal Reserve, has been an outspoken skeptic of bitcoin and the broader cryptocurrency market, labeling it as 'worthless' and 'nonsense'. However, in a recent conversation, he indicated that he is now open to revising his opinion. Kashkari's shift in tone comes as the cryptocurrency industry continues to face challenges in achieving widesprea…
Nov. 13, 2024, 5:17 p.m.