USA | ForkLog - Part 59

ForkLog 11 07.05.2024

CFTC Chair Predicts Increased Regulatory Pressure on Crypto Industry

The growing interest of retail investors and the rising market capitalization of cryptocurrencies are leading to an expansion of enforcement actions within the industry. This was stated by Rostin Behnam, chairman of the CFTC. During a panel discussion at the 27th annual Milken Institute conference, the official mentioned that he anticipates another “cycle of enforcement […]

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ForkLog 29 06.05.2024

SEC Warns Robinhood of Potential Lawsuit

The cryptocurrency division of online broker Robinhood has received a warning from the U.S. Securities and Exchange Commission (SEC) regarding a potential lawsuit. The notice in question is a Wells notice, a letter indicating that the agency has found violations of securities laws and that the matter may proceed to court. “After several years of […]

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ForkLog 17 06.05.2024

zkSNACKs CEO Clarifies CoinJoin Shutdown

The decision to discontinue the CoinJoin transaction anonymization service was made to ensure compliance with U.S. regulatory standards, according to Max Hillebrand, CEO of zkSNACKs, the company behind the service, in an interview with Cointelegraph. He stated that shutting down the service was a necessary step given the lack of clarity in regulations concerning the […]

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ForkLog 69 06.05.2024

Cartier Heir Accused of Laundering Drug Cartel Money via USDT

The Southern District of New York’s prosecutor charged a member of the Cartier family and five Colombian nationals with laundering drug trafficking proceeds through the stablecoin USDT. Authorities allege the individuals were part of a money laundering network operating in the US and Colombia, utilizing a system of brokers and shell companies in their illicit […]

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ForkLog 24 04.05.2024

Alexander Vinnik Admits to Money Laundering Conspiracy via BTC-e

Russian national Alexander Vinnik has admitted to conspiring to launder money through the cryptocurrency exchange BTC-e. This is stated in a press release from the US Department of Justice. According to the report, Vinnik is responsible for losses amounting to at least $121 million. The department notes that from 2011 to 2017, the platform processed […]

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ForkLog 18 03.05.2024

US Senators and FBI Show Nuanced Stance on Privacy Protocols

US senators and intelligence agencies may not be as opposed to privacy-focused protocols as some in the crypto industry believe. This perspective was shared by Railgun anonymizer researcher Alan Scott Jr., reports Cointelegraph. During a presentation at ETH Global in Sydney, the expert explained that his conclusion is based on conversations with politicians and the […]

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ForkLog 22 03.05.2024

ZkSNACKs to Cease CoinJoin Anonymization Service Amid Regulatory Pressure

The developer of Wasabi Wallet, ZkSNACKs, will discontinue its CoinJoin anonymization service from June 1, citing increasing pressure from law enforcement on cryptocurrency mixers. This decision will also affect users of the Trezor Suite wallet and the BTCPayServer payment gateway. After years of relentless dedication to improve Bitcoin’s privacy, zkSNACKs, the company pioneering the development […]

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ForkLog 21 03.05.2024

US Senators Deem Iranian Crypto Mining a National Security Threat

Senators Elizabeth Warren and Angus King urged the administration of President Joe Biden to provide information on measures to combat Iran’s “unbridled evasion” of sanctions through cryptocurrency mining. “Iran legalized the digital asset mining industry in 2019. Over the past five years, Iran has earned millions of dollars from mining—a stable source of income that […]

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ForkLog 29 02.05.2024

US Lawmakers Introduce Bill on Staking Taxation

Two US congressmen have introduced a bill to regulate the taxation of cryptocurrency staking income. The document, authored by Wiley Nickel and Drew Ferguson, is titled the “Digital Asset Tax Clarity Act.” “The US approach to digital asset rewards is overly complicated, leading to investor confusion, double taxation, and the relocation of American businesses abroad. […]

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ForkLog 76 02.05.2024

US Prosecutors Investigate Jack Dorsey’s Square and Cash App for Suspicious Crypto Transactions

The US federal prosecutors are scrutinising the financial operations of the cryptocurrency divisions of Jack Dorsey’s company, Block, for compliance with regulations. This was reported by NBC News, citing sources. According to these sources, the divisions Square and Cash App are suspected of long-standing and widespread compliance procedure violations, which allegedly allowed the companies to […]

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ForkLog 22 01.05.2024

a16z Advises Startups Against Public Token Sales in the US

Startup founders should “avoid the US market at all costs” when conducting token sales. This advice comes from Miles Jennings, the chief legal counsel of the digital assets division at Andreessen Horowitz (a16z). “The SEC claims that almost every token must be registered under US securities laws,” he commented. According to Jennings, public and private […]

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ForkLog 48 01.05.2024

Roger Ver Arrested for Tax Evasion

Roger Ver, known as ‘Bitcoin Jesus’ and the founder of Bitcoin.com, has been detained in Spain following charges by the U.S. Department of Justice for tax fraud. Authorities are seeking his extradition to the United States, where he faces charges of mail fraud, tax evasion, and filing false returns. According to law enforcement, Ver allegedly […]

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