Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazilian police dismantle $9.7 billion crypto laundering rings, Brazil uses an artificial intelligence (AI) tool to detect tax fraud linked to cryptocurrency, and Latam’s neobank Nubank halts trading of its coin. Operation Niflheim: […] Source: https://news.bitcoin.com/latam-insights-brazilian-federal-police-cracks-down-on-9-7-billion-crypto-money-laundering-rings-brazil-uses-ai-to-detect-crypto-tax-fraud/
Month: September 2024
Former Commerce Secretary Warns US Headed for Recession
Former Commerce Secretary Wilbur Ross has warned of an impending U.S. recession due to the lingering effects of pandemic-related stimulus. While Wall Street maintains a more optimistic outlook, citing strong GDP and low unemployment, Ross argues that the economy was artificially inflated by the $5 trillion in stimulus. He points to inflation, high consumer prices, […] Source: https://news.bitcoin.com/former-commerce-secretary-warns-us-headed-for-recession/
Flappy Bird creator disavows revived game that hints crypto ties
The new owners of the trademark Flappy Bird trademark say it’s coming back, and deleted web pages suggest it could have something to do with crypto. Source: https://cointelegraph.com/news/flappy-bird-creator-distances-new-game-crypto-links?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
‘Explosion’ in election gambling will harm public interest: CFTC
The US commodities regulator says prediction markets can be vulnerable to “spectacular manipulation.” Source: https://cointelegraph.com/news/cftc-predictions-marketsmarket-manipulation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
FBI Seizes Websites Linked to Crypto Recovery Fraud
The Federal Bureau of Investigation’s San Diego office has seized websites linked to three fraudulent cryptocurrency recovery services. The scam preys on victims of crypto fraud by promising recovery of lost funds, often charging significant fees without delivering results. The FBI advises the public to be cautious, avoid upfront payments, and verify any claims of […] Source: https://news.bitcoin.com/fbi-seizes-websites-linked-to-crypto-recovery-fraud/
SEC Regrets Confusion Over ‘Crypto Asset Securities’ — Ripple and Coinbase Weigh In
Coinbase and Ripple legal chiefs, Paul Grewal and Stuart Alderoty, have criticized the U.S. Securities and Exchange Commission (SEC) for its inconsistent approach to classifying tokens as securities. Grewal referenced Footnote 6 in the SEC’s amended complaint against Binance, where the agency admitted creating confusion by labeling tokens as securities. He also pointed out the […] Source: https://news.bitcoin.com/sec-regrets-confusion-over-crypto-asset-securities-ripple-and-coinbase-weigh-in/
JPMorgan CEO Warns of Recession Threat, Higher Inflation, Stagflation
JPMorgan Chase CEO Jamie Dimon has raised concerns about stagflation despite signs of easing inflation. Dimon highlighted ongoing risks such as rising deficits and government spending that could pressure inflation. The JPMorgan executive warned that the U.S. economy is not yet out of the woods and suggested the possibility of a recession remains significant. Jamie […] Source: https://news.bitcoin.com/jpmorgan-ceo-warns-of-recession-threat-higher-inflation-stagflation/
UK Court Recognizes USDT as ‘Distinct Form of Property’
A High Court of England and Wales has ruled that stablecoin tether (USDT) is recognized as property under English law. The court clarified that cryptocurrencies, despite not being physical assets, can be treated similarly to tangible and intangible property in legal disputes. UK Court Recognizes USDT as Legal Property The High Court of Justice, Business […] Source: https://news.bitcoin.com/uk-court-recognizes-usdt-as-distinct-form-of-property/
Building a Yield Curve for Defi
While decentralized finance (defi) continues to innovate, it still lacks a critical component that has long been foundational in traditional finance: fixed-income products. I sat down for a great conversation with Jerry Li, co-founder and CEO of Term Structure, who introduced me to the idea of fixed-income products in crypto. Why Fixed-Income Could Be the […] Source: https://news.bitcoin.com/building-a-yield-curve-for-defi/
Polkadot Decentralizes Ambassador Program
Polkadot’s relaunched Ambassador program lets the community elect its representatives. In this interview, we speak with William, one of the newly elected Head Ambassadors focused on driving enterprise adoption, who shares his insights and vision for the ecosystem’s growth. Meet William, A Polkadot Head Ambassador Driving Enterprise Adoption Polkadot’s new ambassador program has decentralized, letting […] Source: https://news.bitcoin.com/polkadot-decentralizes-ambassador-program/