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Policy
Senator Elizabeth Warren Assumes Key Role in Overseeing Crypto Legislation
U.S. Senator Elizabeth Warren, a long-time critic of the crypto industry, is set to take on a key role in the Senate Banking Committee, where she will have significant influence over digital assets legislation. With the committee previously chaired by Senator Sherrod Brown, who blocked significant legislative debates on crypto, Warren's new position as the top Democrat will provide her with a pro…
Nov. 13, 2024, 4:40 p.m.
Policy
Alleged Money Launderer Faces Up to 20 Years in US Prison for Role in $73 Million Crypto Scam
A 41-year-old Chinese citizen, Daren Li, has pleaded guilty to conspiracy to commit money laundering for his role in a scheme that laundered over $73 million in proceeds from cryptocurrency investment scams. According to the US Department of Justice, Li used a network of shell companies and international bank accounts to facilitate the laundering process. He is set to be sentenced on March 3 and …
Nov. 13, 2024, 10:29 a.m.
Policy
South Korean Authorities Detain 215 Individuals in $232 Million Crypto Scam Probe
South Korean law enforcement has apprehended 215 individuals as part of an investigation into a suspected cryptocurrency investment scam worth approximately 325.6 billion won ($232 million), according to Yonhap. The operation, conducted by the Gyeonggi Southern Provincial Police Agency's Anti-Corruption and Economic Crime Investigation Unit, targeted a fake investment consulting firm and a promin…
Nov. 13, 2024, 9:07 a.m.
Policy
BIS Appoints Hernández de Cos as New General Manager
Pablo Hernández de Cos, the former governor of the Bank of Spain and a strong advocate for the development of a digital euro, is set to take over as the General Manager of the Bank for International Settlements (BIS) in July. His five-year term will commence on July 1, succeeding Agustín Carstens. As the head of the BIS, often referred to as the 'central bank of central banks,' Hernández de Cos w…
Nov. 12, 2024, 3:13 p.m.
Policy
FTX Files $1.8B Lawsuit Against Binance and Former CEO Changpeng Zhao
In a recent court filing, the now-bankrupt cryptocurrency exchange FTX has initiated a lawsuit against its rival, Binance, and Binance's former CEO, Changpeng "CZ" Zhao, alleging a fraudulent share repurchase deal orchestrated by FTX's former CEO, Sam Bankman-Fried. The deal in question involved Bankman-Fried purchasing Binance and Zhao's stake in FTX back in July 2021, using a combination of FTX…
Nov. 11, 2024, 12:14 p.m.
Policy
Hong Kong Trials Enable Chinese Nationals to Access Stablecoins
Flare, a layer-1 blockchain, and Red Date Technology, a decentralized cloud infrastructure company, have launched two trials in Hong Kong, allowing Chinese residents to buy stablecoins issued by IDA, a virtual asset company. The trials will enable anonymous registration on a regulated stablecoin app and the purchase of tokenized financial products using the stablecoin. According to the companies,…
Nov. 8, 2024, 1:30 p.m.
Policy
Canadian Crypto Executive Released Unharmed After $720,000 Ransom Payment
Following a reported kidnapping, the CEO of a prominent Canadian cryptocurrency holding firm has been safely released. As per a report by Canada's CBC, the incident involved the CEO being forced into a vehicle during Toronto's rush hour, with the captors demanding a ransom for his freedom. The CEO, Dean Skurka, was ultimately released unharmed after paying a ransom of CAD 1 million, equivalent to…
Nov. 8, 2024, 5:19 a.m.
Policy
Republicans Poised to Secure House Majority, Completing Congressional and Presidential Sweep
The Republican Party is on track to maintain control of the U.S. House of Representatives, thereby completing a sweep of Congress and the presidency, and granting the GOP the freedom to pursue their legislative goals. As of the latest update, the Associated Press had called 409 out of 435 seats, with the Democrats securing 199 seats and the Republicans winning 210. The party that reaches 218 seat…
Nov. 8, 2024, 1:52 a.m.
Policy
How Long Will Gary Gensler Remain SEC Chair Under a Trump Presidency?
Following his many endorsements from prominent crypto figures, including the Winklevoss twins, Marc Andreessen, and Ryan Selkis, President-elect Trump is expected to deliver on his promise to support the growth and development of the digital asset industry in the United States. One of his key campaign promises was to remove Gary Gensler as SEC chair, stating, 'On day one, I will fire Gary Gensler…
Nov. 7, 2024, 6:35 p.m.
Policy
French Regulatory Body Investigates Polymarket
The French National Gambling Authority, also known as Autorite Nationale des Jeux, has announced that it is currently reviewing the operations of Polymarket, a cryptocurrency-based prediction market that recently experienced record betting volumes during the US presidential election. A spokesperson for the regulatory body stated, "We are aware of this site and are examining its operation and comp…
Nov. 7, 2024, 4:03 p.m.