Month: August 2024

The Commodity Futures Trading Commission paid a $1 million whistleblower award for information leading to an enforcement action in digital asset markets. CFTC Enforcement Director Ian McGinley said whistleblower tips are increasingly crucial as more Americans fall victim to digital asset scams. Digital Asset Cases Dominate CFTC Docket The Commodity Futures Trading Commission (CFTC) announced […] Source: https://news.bitcoin.com/cftc-pays-1m-to-whistleblower-in-digital-asset-case/

Seven individuals have reportedly been indicted on charges of grand larceny, money laundering, and identity theft for stealing $300,000 in bitcoin from a Queens auto body shop owner. The victim’s 5.75 BTC, originally valued at $92,000, was taken by 20-year-old Aaron Peterson Jr. in November 2022 and later used to purchase luxury items, including a […] Source: https://news.bitcoin.com/queens-bitcoin-heist-seven-charged-with-grand-larceny-and-money-laundering/

A professor at Cornell University’s Dyson School, Eswar Prasad, has raised concerns about the increasing risks in the cryptocurrency market, pointing to regulatory gaps and centralization as key issues. “If anything, crypto today presents even greater risks to its investors and to our financial institutions than it did before,” he said. Cornell Professor’s Crypto Warning […] Source: https://news.bitcoin.com/cornell-professor-warns-of-growing-crypto-risks-amid-misleading-promises-and-hype/

The U.S. Securities and Exchange Commission (SEC) has addressed District Judge Analisa Torres’ ruling in the Ripple case over XRP, emphasizing the substantial financial penalties imposed on the crypto firm and its ongoing securities law violations. While Ripple celebrated the 94% reduced fine, the regulator underscored that the court acknowledged Ripple’s securities violations. SEC Reacts […] Source: https://news.bitcoin.com/sec-addresses-final-court-ruling-in-ripple-case-highlights-key-outcomes/

Elon Musk, CEO of Tesla and Spacex, has expressed his view that inflation is primarily driven by government overspending, which he emphasized as “the vast majority of the problem.” He also noted that excessive regulation worsens the situation, underscoring that the issue stems from the government, not the private sector. Elon Musk on Inflation, Government […] Source: https://news.bitcoin.com/elon-musk-how-government-overspending-and-excessive-regulation-fuel-inflation/

JPMorgan Chase CEO Jamie Dimon reiterated his belief that a recession remains the most likely outcome for the U.S. economy. Dimon pointed to various uncertainties such as geopolitics, housing, and spending. Meanwhile, JPMorgan has raised the likelihood of a U.S. recession this year. Jamie Dimon Maintains Recession Likely for US Economy JPMorgan Chase CEO Jamie […] Source: https://news.bitcoin.com/jamie-dimon-says-us-recession-still-on-the-horizon-as-jpmorgan-increases-forecast/

Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated framework for mining operations, limiting participation from entities associated with electricity and prohibiting the promotion of cryptocurrencies. It also allows the circulation of mined cryptocurrency […] Source: https://news.bitcoin.com/putin-signs-law-to-regulate-crypto-mining-in-russia/

The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. […] Source: https://news.bitcoin.com/peru-issues-vasp-regulation-strengthens-aml-tf-requirements/