Latest News
By Federal Newswire | Dec 6, 2023
U.S. Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson clarified that Binance, the world's largest cryptocurrency exchange, was penalized for rule violations rather than fraudulent activities. Johnson made these remarks during a digital asset summit hosted by the Financial Times on Dec. 5.
By Federal Newswire | Dec 6, 2023
Kristin Smith, CEO of the Blockchain Association, a group committed to promoting innovation in the cryptocurrency sector, praised U.S. Representatives Larry Bucshon (R-IN) and Lisa Blunt Rochester (D-DE) for presenting the bipartisan Deploying American Blockchains Act of 2023. In a statement released on December 5, Smith expressed her belief that the U.S. should be at the forefront of blockchain technology.
By Federal Newswire | Dec 6, 2023
In the last month, Bitcoin's price has seen a surge of over 25%, reaching $44,000. This week alone witnessed a 16% increase in its value.
By Federal Newswire | Dec 5, 2023
Daniele Servadei, the founder and Chief Executive Officer of the ecommerce platform Sellix, has criticized the U.S. Securities and Exchange Commission's (SEC) lawsuit against crypto exchange Kraken, labeling it as demonstrative of an outdated regulatory approach to cryptocurrencies. Servadei expressed these views in an opinion piece for CoinTelegraph on December 2nd.
By Federal Newswire | Dec 5, 2023
U.S. Senator Cynthia Lummis (R-WY) has stated her belief that bitcoin will gain increasing importance in the future, both as a form of investment and a payment method. In an episode of the Unchained podcast, she elaborated on her views about the cryptocurrency's potential benefits.
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By Federal Newswire | Dec 1, 2023
U.S. Representative Ritchie Torres (D-NY) suggested that blockchain technology could be utilized as a tool to liberate impoverished communities from the burden of exorbitant fees associated with traditional finance. This discussion took place during his participation in the 2023 Blockchain Association Policy Summit on Nov. 30.
By Federal Newswire | Nov 30, 2023
Omid Malekan, an author and adjunct professor at Columbia Business School, said in a Nov. 22 post on X that a key difference between the crypto exchanges FTX and Binance is that Binance did not misuse its customer funds. This statement comes in the wake of recent legal actions against both crypto exchanges. Malekan noted that Sam Bankman-Fried, the founder and former CEO of FTX, was "beloved" by many government officials.
By Federal Newswire | Nov 29, 2023
Seizure of nearly $9 million of Tether cryptocurrency was undertaken by the U.S. Justice Department. This action was executed as a response to an organized network exploiting victims through fraudulent investment scams.
By Federal Newswire | Nov 27, 2023
Richard Teng outlined his priorities as the new CEO of Binance, the largest cryptocurrency exchange in the world, in his first blog post in his new role. In the Nov. 27 post, Teng highlighted his goals of collaborating with policymakers, protecting users, and advancing a global regulatory framework. He assumed this position after serving key roles in multiple financial regulatory institutions.
By Federal Newswire | Nov 22, 2023
Binance, the largest cryptocurrency exchange in the world, announced on Nov. 21 that it reached a settlement with the U.S. government over compliance violations, allowing the exchange to continue operating. The company said that it made mistakes as it grew in an evolving industry, but this settlement marks a new chapter of learning and growth. This landmark resolution serves as a testament to Binance's commitment to rectifying its past missteps and establishing stronger regulatory compliance.
By Federal Newswire | Nov 22, 2023
House Majority Whip Tom Emmer has led a bipartisan letter urging the Biden administration to use blockchain to determine the scope of digital asset fundraising by the terrorist organization Hamas. Emmer said in a Nov. 15 post on X, formerly Twitter, that he sent the letter alongside U.S. Representatives Patrick McHenry, Ritchie Torres, and French Hill.This recent initiative took place in the United States on November 15th.
By Federal Newswire | Nov 22, 2023
The Blockchain Association, a nonprofit advocating for "pro-innovation" policies for the digital asset industry, announced on X, formerly Twitter, that a group of cryptocurrency experts with U.S. military and national security backgrounds has sent a letter to Congressional committee leadership outlining their concerns with the misrepresentation of crypto's role in terror financing. This announcement was made in an attempt to address the prevailing misconceptions surrounding the use of cryptocurrencies.
By Federal Newswire | Nov 22, 2023
Stuart Alderoty, the chief legal officer of the crypto company Ripple, said U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler's recent remarks are false in light of the prosecution Ripple has faced from the SEC. Gensler's remarks came ahead of the 2023 Securities Enforcement Forum on Oct. 25, and he shared a clip of them on X on Nov. 16. These statements have ignited a debate about accountability and regulatory fairness in the crypto industry.
By Federal Newswire | Nov 22, 2023
Binance, the largest cryptocurrency exchange in the world, announced on Nov. 21 that it has reached a settlement with the U.S. Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), the Office of Foreign Assets Control (OFAC), and the Financial Crimes Enforcement Network (FinCEN). As part of the resolution, CEO Changpeng Zhao (CZ) will step down from his role after acknowledging that he "made mistakes" in the company’s early days. The settlements come as Binance seeks to move past historical compliance violations.
By Federal Newswire | Nov 21, 2023
Binance CEO Changpeng Zhao has pleaded guilty to criminal charges and stepped down from the company as part of a $4 billion dollar settlement with the Department of Justice. This dramatic development transpires amidst rising regulatory scrutiny of cryptocurrency exchanges globally.
By Federal Newswire | Nov 21, 2023
U.S. Sen. Cynthia Lummis (R-WY) said the U.S. Securities and Exchange Commission (SEC) continues to punish crypto companies that do not have the legal framework they need to be compliant. This announcement came on November 20th, following the news that SEC had filed a complaint against the San Francisco-based crypto exchange, Kraken.
By Federal Newswire | Nov 21, 2023
Sam Altman will be joining Microsoft and leading a new advanced AI research team, while former Twitch CEO Emmett Shear is set to run OpenAI. This shift comes amid significant changes in the leadership structure of OpenAI.
By Federal Newswire | Nov 17, 2023
Jane Khodarkovsky, a partner of Arktouros and former Human Trafficking Finance Specialist with the U.S. Department of Justice’s Money Laundering and Asset Recovery Section, said during a Congressional hearing that the traceability of blockchain enables prosecutors and other professionals to track bad actors who are trying to use cryptocurrency for illicit activities. Khodarkovsky offered several recommendations on how to reduce the volume of criminal activity related to crypto both within the U.S. and in other jurisdictions.
By Federal Newswire | Nov 17, 2023
Bill Hughes, senior counsel & Director of Global Regulatory Matters at Consensys, a blockchain software company, said during a Congressional hearing that blockchain technology offers unprecedented insights into the movement of funds, so anti-money laundering efforts should optimize blockchain's traceability. Hughes previously served as an associate deputy attorney general at the Department of Justice.
By Federal Newswire | Nov 16, 2023
Jonathan Levin, co-founder and chief strategy officer of leading blockchain analytics firm Chainalysis, said during a Congressional hearing that criminal activity represents a small portion of cryptocurrency transactions, and terror-related activity is a small quantity of those transactions. Levin offered several recommendations for the U.S. government to reduce those numbers even further.
