Senator Cynthia Lummis wants the government to ‘hodl’ millions in Bitcoin Senator Cynthia Lummis introduced yesterday the Bitcoin Strategic Reserve bill, aiming to establish a dedicated reserve fund for Bitcoin (BTC), a scarce decentralized asset. The proposed legislation would create a “decentralized network of secure Bitcoin vaults” managed by the US Treasury, ensuring that BTC
The days of cryptocurrency being completely anonymous and untraceable are fading In a move to combat the rising tide of investment fraud, particularly within the cryptocurrency sector, the Wisconsin Department of Financial Institutions (DFI) has unveiled a new scam tracker. This tool is a direct response to the growing number of consumer complaints and is
The move may have been a response to recent comment about the cryptocurrency industry The US government has executed a transfer of approximately $2 billion worth of Bitcoin, previously seized in connection with the Silk Road case. The Silk Road, an infamous dark web marketplace, was shut down by the FBI in 2013, and its
The recognition could further cryptocurrency’s place in the US The University of Wyoming has announced the establishment of a pioneering academic entity, the Bitcoin Research Institute (BRI), marking a significant stride in the legitimization and scholarly examination of Bitcoin. This initiative positions the university at the forefront of cryptocurrency research, reflecting a growing recognition of
Cryptocurrency ETFs are starting to pick up as a possible investment alternative Jersey City, under the leadership of Mayor Steven Fulop, is poised to take a bold step into the realm of digital assets. Since his election in 2013, Mayor Fulop has been at the forefront of innovative and progressive financial strategies to bolster the
The legislation will continue to help the crypto industry evolve and mature The US House of Representatives has taken a significant step towards addressing the misuse of digital assets by passing the Financial Technology Protection Act. Approved on July 22 through a majority voice vote, the legislation establishes a dedicated task force aimed at investigating
Silvergate will have to pay $63 million for its failures Silvergate Capital Corporation, the parent company of the now-defunct Silvergate Bank, has agreed to a $63 million settlement with US and California regulators to resolve charges related to its handling of anti-money laundering (AML) and bank secrecy compliance programs. The Federal Reserve will receive $43
One industry analyst believes the SEC chairman could be out sooner than expected In a recent market report, Markus Thielen, founder of 10x Research, predicted that United States Securities and Exchange Commission (SEC) Chair Gary Gensler would likely resign within the first two months of 2025. Thielen’s forecast is based on the historical trend of
Dylan Meissner will return to a courtroom in October for sentencing In the latest case of corporate fraud in the cryptocurrency space, Dylan Meissner, a former vice president of a prominent crypto research firm, has admitted to a multi-million dollar embezzlement scheme. The 31-year-old Westport, CT, man’s guilty plea to wire fraud charges has sent
The exchange will begin paying back the users it failed to protect from a security breach Failed cryptocurrency exchange BlockFi has announced that it will begin reimbursing its customers starting this month. The news comes as a relief to the countless users who were left in a state of uncertainty after the exchange’s sudden collapse
The two have agreed to a $12-billion fine that still needs a court’s approval The saga of bankrupt cryptocurrency exchange FTX continues with a recently announced $12.7 billion settlement with the US Commodity Futures Trading Commission (CFTC). This agreement, if approved by the court, resolves a 19-month lawsuit that alleged fraud and misrepresentations by FTX.
The stablecoin and crypto exchange continue to face legal action that threatens their stability The legal battle surrounding cryptocurrency manipulation has taken a new turn with the inclusion of Tether and Bitfinex in an amended class action lawsuit. The two companies stand accused of violating antitrust laws and artificially inflating cryptocurrency prices. This recent filing
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