The export privilege ban comes from Griffith’s conviction and further impacts his involvement in international trade and transactions. The United States Department of Commerce has imposed a 10-year export privilege ban on Virgil Griffith, an Ethereum developer serving a five-year prison sentence. The ban restricts him from enjoying export privileges until April 12, 2032. The…
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Recent regulatory actions have crypto staking providers in the United States on edge. The Ethereum network underwent the successful Shapella hard fork on April 12, allowing validators to withdraw their long-staked Ether (ETH) from the Beacon Chain after three years. In the first week of withdrawals, more than a million ETH was unstaked by validators.…
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Gensler was reluctant to go into details and faced symbolical pressure rather than genuine attempts to interrogate, leaving the crypto industry without any new clarity. Gary Gensler, the United States Securities Exchange Commission (SEC) chair, recently appeared before the U.S. House of Representatives Financial Services Committee for a hearing regarding his leadership of the regulatory…
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Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector Deal Preferred as U.S. Government Officials Discuss First Republic Bank Rescue Efforts Market observers…
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How the Utah DAO Act went from an idea to a piece of legislation — and the challenges along the way. In March, the Utah State Legislature passed the Utah DAO Act, granting legal recognition and limited liability protections to decentralized autonomous organizations (DAO) in the state. DAOs by default are not recognized as legal…
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The bankrupt crypto lender struck a deal with the U.S. government and its $1 billion sale of cryptocurrencies to Binance.US has moved forward. Bankrupt cryptocurrency lender Voyager Digital Holdings has sealed a deal with the United States federal government that moves forward a $1 billion plan that would allow Voyager to sell its assets to…
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The crypto industry needs to prepare for increasing government pressure as it ramps up its challenge to the State monopoly over money, says ShapeShift CEO Erik Voorhees. Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started,…
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The U.S. Department of Justice (DOJ) says it has seized cryptocurrency worth over $112 million linked to fraudulent investment schemes known as “pig butchering.” According to court documents, the seized crypto accounts were allegedly “used to launder proceeds of various cryptocurrency confidence scams,” the Justice Department said. $112 Million in Crypto Seized by DOJ The…
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A major stablecoin depegging event raised concerns about the stability of these assets amid a U.S. banking crisis. The result may have been an improvement in their position in traditional finance. The collapse of Silicon Valley Bank (SVB), which suffered a bank run after revealing a hole in its finances over the sale of part…
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Warnings continue to pervade market and financial news this week, with Monica Crowley, former assistant secretary for public affairs for the U.S. Department of the Treasury, indicating “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. In related news, billionaire Bill Ackman warned that the U.S. economy is “heading for…
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