The Washington DC-based Blockchain Association has filed an amicus brief in support of the crypto think tank Coin Center’s lawsuit against the US Treasury Department over its sanctions against Tornado Cash. The Treasury sanctioned the crypto mixer in August, claiming that it laundered more than $7 billion worth of virtual currency and effectively banning Americans
Blockchain
Advocates of cryptocurrency have expressed their support for a new draft legislation that seeks to provide clarity on defining whether digital assets are securities or commodities. The proposed legislation, introduced by Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee, is aimed at regulating digital assets and establishing a framework
Atomic Wallet, a decentralized wallet with a considerable user base of over five million users, has allegedly been hacked. There are reports suggesting that the users’ funds have been compromised, with some victims losing their entire balance. The Incident On June 3, 2021, Atomic Wallet tweeted that it was investigating the incident. The tweet stated
Denish Sahadevan, a 31-year-old social media influencer, has pleaded guilty to several criminal charges related to money laundering using cryptocurrency. The US Department of Justice (DoJ) recently released a statement accusing Sahadevan of fraudulently obtaining over $1.2 million in government relief loans. The influencer, better known as Danny Devan on social media, admitted to committing
Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee have come together to draft legislation aimed at regulating digital assets. The legislation, called the Digital Asset Market Structure Discussion Draft, seeks to clarify when a digital asset would be considered a security and therefore regulated by the Securities and Exchange
US lawmakers are set to discuss digital asset spot markets during a hearing to be held by the House Agriculture Committee on June 6. The committee has jurisdiction over the Commodity Futures Trading Commission (CFTC), which has been exercising its jurisdiction through enforcement actions and public statements over the past year. The hearing will be
Binance, the world’s largest crypto exchange by trading volume, has announced their plan to delist several privacy-focused coins for users in Spain, France, Italy, and Poland. The coins that will be delisted are designed to make it difficult for third-parties to trace transactions and get information about wallet balances. These coins include Zcash (ZEC), Monero
The US Government’s push for an independent inquiry of the now-bankrupt crypto exchange FTX was referred to the U.S. Third Circuit Court of Appeals on Tuesday. The government’s push comes after a group of both Democratic and Republican Senators in January called for an inquiry into FTX’s bankruptcy, arguing that a “thorough, objective investigation of
A global money laundering and terrorist financing watchdog has called on Qatar to make significant improvements to its response to terrorist financing. According to a report released by the Financial Action Task Force (FATF), Qatar needs to understand more complex forms of money laundering and terrorist financing and establish more controls to combat these issues.
Coinbase CEO Brian Armstrong expressed his disappointment over the regulatory approach of the US lawmakers towards cryptocurrency. He warned that innovation is shifting to other countries, and restrictive US cryptocurrency policies will benefit countries like China. The Effect of Restrictive Policies on Crypto-Innovation Armstrong wrote in a MarketWatch opinion article that the enforcement of restrictive