A national poll conducted by the Crypto Council for Innovation in October revealed that 52% of the 1,200 voters surveyed want the industry to be more regulated, while a mere 7% said they think the industry should be less regulated. The remaining 41% of respondents were evenly split between thinking the industry was sufficiently regulated already, or not having an opinion. Source
Britain’s former Chancellor of the Exchequer Rishi Sunak has become the country’s new prime minister, succeeding Liz Truss who resigned after 44 days in office. The leader of the Conservative Party previously said: “It’s my ambition to make the U.K. a global hub for cryptoasset technology.” Rishi Sunak Takes Office as U.K. Prime Minister Rishi Sunak, who served as Britain’s chancellor of the exchequer from 2020 to 2022 and chief secretary to the Treasury from 2019 to 2022, has become the prime minister of the U.K. He succeeded Liz Truss,…
The U.S. has charged two Chinese intelligence officers in a scheme to bribe a U.S. government employee to steal “secret” documents relating to the prosecution of a company in China. The defendants paid the government employee, who is actually a double agent, approximately $61,000 in bitcoin for stealing the information, according to the U.S. Department of Justice (DOJ). Alleged Chinese Spies Charged in Scheme to Steal Secret Documents The U.S. Department of Justice (DOJ) announced the unsealing of a criminal complaint Monday charging two Chinese intelligence officers in a scheme…
Although there were still criticisms of the toned-down draft, SBF clarified that he was talking about centralized on-ramps into crypto, not self-executing protocols. “It is not making claims about what DeFi devs, smart contracts, and validators must do,” Bankman-Fried wrote. “It’s looking to eventually establish guidelines about how e.g., FTX’s platform – or Fidelity’s – could interface with DeFi contracts.” Source
The United States Department of Justice recently filed a lawsuit to recover $60 million that was imposed on Larry Harmon, the operator of a bitcoin mixing service targeted by U.S. law enforcement in 2020. According to U.S. authorities, Harmon had operated an unlicensed money-transmitting business. Violation of the Bank Secrecy Act The United States Department of Justice (DOJ) is reportedly suing Larry Harmon, the founder of the crypto mixer Helix, to recover the $60 million fine imposed on him by regulators. According to a Reuters report, the fine, which was…
According to the National Consumer Commission, about 4,000 South Africans who invested in a bitcoin mining equipment supplier, Obelisk, may have participated in a pyramid scheme. The commission said participants in the pyramid scheme may have lost as much as over $6 million. Obelisk Used Social Media Platforms to Lure Victims A South African consumer watchdog, the National Consumer Commission (NCC) recently announced that Obelisk — a purported bitcoin mining equipment supplier — is in fact a pyramid scheme which has swindled millions of dollars from unsuspecting investors. The watchdog…
An amendment to the Financial Services and Markets Bill now before the United Kingdom’s Parliament would extend the law’s powers to regulate financial promotion and other activities to crypto assets. The amendment was written by Member of Parliament and Financial Secretary to the Treasury Andrew Griffith. The 335-page bill was introduced in July and had its second reading in the House of Commons on Sept. 7. According to the explanatory statement accompanying the amendment, it would: “[…] clarify that the powers relating to financial promotion and regulated activities can be…
India’s Enforcement Directorate (ED) says it has frozen 44.5 more bitcoins as part of an ongoing money laundering investigation into mobile gaming app E-nuggets. The authority has already frozen nearly 86 bitcoins at crypto exchange Binance relating to the same investigation. India’s ED Freezes More Bitcoin in E-nuggets Case India’s Enforcement Directorate (ED) announced Thursday that it has frozen 44.5 bitcoins under the country’s Prevention of Money Laundering Act (PMLA). The ED is the government of India’s law enforcement and economic intelligence agency. The official Twitter account for the ED…
“DeFi tools hold a credible promise for new forms of financial services adapted to a globalized, competitive, fair and digital economy,” Roukny, an assistant professor from Leuven University, said at a commission webinar Friday, after issuing a report on DeFi to the body. “At the same time,” he added, “severe threats to consumers, producers and the economy at large accompany this opportunity.” Original Source CommissionDeFisKindRegulationSevereThreatTold CryptoX Portal
The Japan Virtual and Crypto Assets Exchange Association (JVCEA) plans to allow crypto trading platforms to list coins without going through a lengthy screening process. “We hope the latest measure will help revitalize Japan’s crypto assets market,” said the vice chairman of the association. Relaxing Listing Rules for Cryptocurrencies The Japan Virtual and Crypto Assets Exchange Association (JVCEA) is planning to loosen crypto listing rules to make it easier for trading platforms to list cryptocurrencies, Bloomberg reported Wednesday, citing a document it has seen. The association plans to allow trading…