Law Decoded: All Roads Lead to New York, June 19-26
New York, New York runs the show this week as the site of a host of developments and setbacks for crypto. Go to Source Powered by WPeMatico
Regulation
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LocalBitcoins Says Its Transactions From Darknet Markets Dropped 70%
LocalBitcoins claims that darknet-related transactions on the platforum dropped 70% after it adopted AML and KYC regulations in September 2019. Go to Source Powered by WPeMatico
Crypto Cards Still Working as UK Regulator Suspends Wirecard Subsidiary
Wirecard’s subsidiary that is responsible for issuing debit cards has been suspended as the company can no longer access customer funds. Go to Source Powered by WPeMatico
Thailand Vows to Crack Down on Narco Profits Stashed in Commodities and Crypto
Thai authorities are cracking down on drug networks and the methods they use to launder their profits, including cryptocurrency. Go to Source Powered by WPeMatico
SEC Charges Lobbying Kingpin Jack Abramoff With Fraud For Promotion of 2018 ICO
Abramoff and the founder of AML Bitcoin face charges for fraud in misrepresenting the token’s compliance, with the founder himself facing jail time for money laundering. Go to Source Powered by WPeMatico
Regional CBDCs Can Fuel International Trade, but USD Seems Unbeatable
As Libra and COVID-19 give a push to CBDCs, some projects are looking to dethrone the main international currency. Go to Source Powered by WPeMatico
Former US Treasury Head Calls Payment ‘Friction’ the Best Argument for Crypto
Clinton-era Treasury Secretary Summers doesn’t buy some of the crypto community’s anarchic sentiments but agrees that they are solving a major problem. Go to Source Powered by WPeMatico
SEC Asks Court to Order Telegram to Pay $1.2B Back for $1.7B ICO
Despite the original TON project being officially terminated, the U.S. SEC asks Telegram to return $1.2 billion. Go to Source Powered by WPeMatico
NY Regulators to Pair Companies with ‘Guardians’ for a Conditional BitLicense
The New York Department of Financial Services is requesting comments on its amendment to the BitLicense that would help smaller companies be regulated. Go to Source Powered by WPeMatico
Ripple Exec: Slow Response on Blockchain Could be ‘Potential Catastrophe’ for US
Ripple co-founder Chris Larsen discussed U.S. regulators’ ignorance towards regulating the blockchain and crypto space and how it is helping China. Go to Source Powered by WPeMatico