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“# FTC sues Facebook in antitrust lawsuit as regulators mount offensive ” The United States Federal Trade Commission has filed a lawsuit against Facebook, Inc., where it alleges that the corporation has been engaging in anti-competitive practices ever since acquiring a dominant global position at the turn of the 2010s. According to public case files…
“# Circle CEO joins appeal against US Treasury self-hosted crypto wallet ban ” Jeremy Allaire, CEO and co-founder of peer-to-peer payments firm Circle, sent a letter to senior staff of the United States Department of the Treasury on Dec. 9, appealing for regulators to collaborate with the industry in adopting crypto regulations. Allaire warned U.S….
“# ‘Low income’ Oyster Protocol founder allegedly has $10M yacht full of gold bars ” Amir Burno Elmaani, the founder of the now defunct cryptocurrency scheme Oyster Protocol, has been arrested and charged for what the Department of Justice describes as a “multimillion-dollar tax evasion scheme.” On Dec. 9, the DoJ announced it had unsealed…
“# Paxos seeks approval to become fully-regulated crypto bank ” Stablecoin creator and crypto services provider Paxos filed an application to open a national bank on Wednesday. If approved, the pioneering Paxos General Trust will be headquartered in New York, licensed to hold cryptocurrencies and execute the duties of a regular trust bank. According to…
“# Venezuela ramps up Bitcoin payments for imports from Iran and Turkey ” According to an investigative report from RunRun.es, Venezuela intends to increase its use of Bitcoin to pay for imports to bypass financial sanctions imposed by the United States. RunRun.es, which was founded by Venezuelan investigative journalist Nelson Bocaranda, cited anonymous sources from…
“# Congresspeople tell Treasury to back off of rumored self-hosted wallet ban ” Several members of Congress have voiced opposition to a rumored blockade on self-hosted crypto wallets in the works at the U.S. Treasury. In a Dec. 9 letter addressed to Treasury Secretary Mnuchin, four members of the Congressional Blockchain Caucus wanted answers for…
“#Braggy billionaire Michael Platt’s firm fined $170M for deceiving investors” The hedge fund tied to a billionaire who last year got caught on a viral video bragging to a New York City cabby about his wealth just got slammed with a massive fine for two-timing its investors. BlueCrest Capital Management — co-founded by Michael Platt,…
“# BitPay files with OCC to become national crypto-native trust bank ” Bitcoin (BTC) payments giant BitPay aims to form a national trust bank, based on its recent filing with the United States Office of the Comptroller of the Currency. “We confirm BitPay has filed an application with the United States Office of the Comptroller…
“# Congresspeople ask SEC to verify who can custody security tokens ” Nine members of congress have written a letter asking the Securities and Exchange Commission to get its security token guidance straightened out. In a Dec. 9 letter to SEC Chairman Jay Clayton, several members of the Congressional Blockchain Caucus led by Tom Emmer…
“# Vitalik Buterin expects lots of ways to exchange CBDCs for crypto ” Central bank digital currencies, or CBDCs, will be fairly easy to convert into cryptocurrencies in the future, Ethereum co-founder Vitalik Buterin believes. Speaking at the Singapore Fintech Festival 2020 on Dec. 9, Buterin said that he expects a lot of ways to…