The Digital Trading Clarity Act of 2022 aims to provide regulatory clarity around classifying digital assets and related liabilities under existing securities laws. United States Senator Bill Hagerty, a member of the Senate Banking Committee, introduced legislation seeking a safe harbor for cryptocurrency exchanges from “certain” Securities and Exchange Commission (SEC) enforcement actions.The Digital Trading… More
Coin Center filed a lawsuit against the Treasury Department in federal district court — challenging the enforcement of Section 6050I’s reporting mandate. Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill.Coin Center lawsuit… More
GAO aims to help policymakers, including Congress, federal agencies, state and local governments, observe seamless blockchain implementation. Per the request of the United States Congress, the U.S. Government Accountability Office (GAO), laid out four policy options to help policymakers implement blockchain technologies while enhancing benefits and mitigating challenges.The technology assessment shared by the GAO acknowledged… More
A San Diego-based federal grand jury charged Kumbhani for orchestrating an alleged Ponzi scheme via BitConnect’s “Lending Program” among other allegations. The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process.According to the Department of Justice (DOJ), a… More
Rhodes highlighted the difficulty for grassroots candidates like herself to compete against established members of the US Congress. Aarika Rhodes, an elementary school teacher-turned congressional candidate, recently featured in the Bitcoin Day Sacramento 2022 event to discuss the impact of Bitcoin (BTC) in local politics. Speaking to Cointelegraph, Rhodes highlighted the difficulty for grassroots candidates like… More
Major crypto businesses including FTX, eToro, Crypto.com and Coinbase debuted crypto ads in Super Bowl 2022. Super Bowl commercials have always been an intrinsic part of the annual National Football League (NFL) championship and for business, a fair sign of making it in the real world. This year, however, marked a new milestone for the… More
As a part of the deal to comply with Japanese laws, FTX’s Japanese users will be moved Quoine’s trading platform. American billionaire and CEO of crypto exchange FTX Sam Bankman-Fried announced that his company acquired Japanese crypto firm Liquid Group and its subsidiaries. As a part of the deal, FTX will acquire Quoine Corporation, a Financial… More
According to the U.S. lawmakers, the infrastructure law contains an “overly-broad interpretation” of what a broker is and places the reporting burden on individuals who may not have the necessary information to comply. A bipartisan group of U.S. senators have called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed… More
Alongside Coinbase itself, the class action names CEO Brian Armstrong, CLO Paul Grewal, other top executives and several of its venture capital backers as defendants. A Coinbase shareholder has filed a securities class action against Coinbase for allegedly misleading investors ahead of its public listing about the company’s financial state and resilience as a crypto… More
Analysts have been categorizing blockchain projects worldwide into a “periodic table” that allows for a granular analysis of the technology’s inroads into global trade. The World Trade Organization and Trade Finance Global have published their latest taxonomy of blockchain projects in international trade, arranged into what they present as a “periodic table” for the industry.The… More
In three years, a younger generation of banking customers won’t do business with a traditional fiat bank unless it offers access to crypto. Within a few years, a younger generation of financial services customers are going to be able to walk into a bank and gain access to credit products, savings accounts and investments that… More
Despite skepticism about loosening regulations on loans, the Fintech Task Force couldn’t stop talking about crypto as a way of upgrading payments in the U.S. In a hearing on Tuesday, the Congressional Fintech Task Force heard arguments on new rules that would potentially expand banking regulations to accommodate more technology firms providing financial services.A subunit… More
Guardicore Labs explains that FritzFrog uses a brute-force attack on millions of addresses to gain access to servers. According to a study published by Guardicore Labs, a malware botnet known as FritzFrog has been deployed to ten millions of IP addresses. The malware has largely targeted governmental offices, educational institutions, medical centers, banks, and telecommunication… More
Jack Daniels says it successfully fended off the attack, but the REvil ransomware gang has put stolen data up for auction on the darknet. Ransomware gang REvil, known also as Sodinokibi, claims to have mounted a successful attack against the U.S. wine and spirits giant, Brown-Forman Corp — but the company claims otherwise.The company is… More
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