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By Federal Newswire | Dec 13, 2023
In a commentary published by Fortune on Dec. 12, authors Omid Malekan and Brian Whitehurst challenged the crime-related labels that many officials have placed on cryptocurrency. They argued that while the unique nature of cryptocurrency presents challenges for regulators, it does not warrant such negative characterizations. Malekan is an author and adjunct professor at Columbia Business School, while Whitehurst serves as head of regulatory affairs and regulatory counsel at Lukka, a blockchain data solutions firm.
By Federal Newswire | Dec 13, 2023
Richard Teng, the Chief Executive Officer of Binance, the world's largest cryptocurrency exchange, has challenged the criticism from major traditional banks regarding cryptocurrency's involvement in illicit activities. According to Teng, data suggests that fiat currency, such as the U.S. dollar, is more extensively used for illegal purposes. His remarks followed comments made by JPMorgan Chase Chairman and CEO Jamie Dimon during a Congressional hearing where he claimed that crypto enables malicious actors to bypass anti-money laundering protocols and sanctions.
By Federal Newswire | Dec 13, 2023
U.S. Senator Bill Hagerty (R-TN) has voiced his belief that traditional banks may perceive the burgeoning cryptocurrency industry as a threat. However, he stressed that this should not deter bipartisan efforts to establish regulations for the crypto sector that encourage innovation. These comments were made in response to statements by JPMorgan Chase CEO Jamie Dimon during a Senate Banking Committee hearing on December 6.
By Federal Newswire | Dec 8, 2023
Richard Teng, the newly appointed CEO of Binance, stated during an X Spaces event on Dec. 1 that one of his top three priorities is to promote regulatory clarity for the global cryptocurrency industry. Binance, recognized as the world's largest crypto exchange, disseminated Teng's comments in a post dated Dec. 4.
By Federal Newswire | Dec 8, 2023
During the recent debate on Dec. 6, Vivek Ramaswamy, an entrepreneur and Republican presidential candidate, expressed concerns about the current U.S. regulations for the cryptocurrency industry. He pointed out that these regulations are not up to date and ineffective in protecting consumers. As evidence of this, he cited Sam Bankman-Fried, the founder and former CEO of now-defunct crypto exchange FTX.
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.
