A U.S. lawmaker has called on Congress to focus its efforts on bringing more crypto activity and opportunities to the United States in order to “bolster U.S. national security.” Citing the Department of Justice’s action against crypto exchange Binance, the lawmaker stressed that Congress does not need to rewrite laws that work in the crypto…
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A U.S. lawmaker has urged Congress to pass his bill that would fire U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. This call followed the securities regulator filing a second lawsuit against crypto exchange Kraken this year after the exchange paid $30 million to settle the initial lawsuit. Lawmaker Seeks to Fire Gary Gensler…
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What happened with Sam Altman behind the scenes? Neither OpenAI nor Microsoft have provided all the answers. The industry deserves more congressional scrutiny. CbatGPT developer OpenAI announced last week that it had fired CEO Sam Altman due to a loss of confidence by the board — only to see him return to the company after…
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The Nov. 22 letter claimed that “only mandamus will impel the [SEC] to fully, finally acknowledge that Coinbase’s petition for rulemaking was pocket-vetoed long ago.” United States-based cryptocurrency exchange Coinbase has renewed its call to compel the Securities and Exchange Commission (SEC) to respond to the company’s petition to create rules on crypto, using the…
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The U.S. Justice Department, Treasury and CFTC reportedly plan to announce settlements for many of the criminal and civil cases against Binance and CZ on Nov. 21. A federal court has released the indictments against Binance and CEO Changpeng “CZ” Zhao filed under seal on Nov. 14, in which the United States government said it…
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Officials with the U.S. Justice Department, Treasury, and CFTC alleged Binance “lacked basic safeguards” to protect against sanctions and Changpeng Zhao committed criminal acts. Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil…
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Cryptocurrencies flash mixed signals as market participants digest the details of CZ’s guilty plea and the DOJ’s $4.3 billion settlement with Binance. Crypto markets were subjected to a heavy dose of volatility on Nov. 21 as the United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC) and U.S. Treasury announced a $4.3-billion settlement…
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The U.S. Securities and Exchange Commission (SEC) has sued cryptocurrency exchange Kraken for the second time this year, alleging that the crypto trading platform operates as an unregistered securities exchange, broker, dealer, and clearing agency. Kraken disagreed with the securities regulator’s claims, insisting: “We do not list securities, and plan to vigorously defend our position.”…
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The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,” the head of Singapore’s central bank said. “We cannot wish these dynamics away and force consolidation of all financial transactions onto a single network.…
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The stablecoin issuer reported the illicit funds had been used by a Southeast Asia-based crime syndicate responsible for a “pig butchering” romance scam. Stablecoin issuer Tether froze roughly $225 million worth of USDT tokens as part of an investigation into a Southeast Asia human trafficking syndicate launched by the United States Department of Justice (DOJ). …
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