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In addition to securities law violations, the company and its co-founder and CEO Changpeng Zhao were also accused of commingling customer assets with company funds. Most notably, the SEC alleges that at least 13 crypto assets available to Coinbase customers — including Solana’s sol, Cardano’s ada, and Protocol Labs’ filecoin — should be considered securities, meaning they’d need to be subject to strict transparency and disclosure requirements. According to court documents and statements made in court, Meissner was employed at a cryptocurrency research firm as Vice President of Finance with access to the firm’s cryptocurrency wallets and bank accounts.

“While he has expressed interest in the space, much of his focus seems limited to supporting dollar dominance and real estate applications.” The Bitcoin Dominance Index measures bitcoin’s share of the overall crypto market valuation, and it recently hit new highs. One of the crypto market’s biggest concerns in recent years has been the lack of clarity around regulations and the U.S. Two years later, in 2018, Abu Dhabi Global Market created the world’s first regulatory framework for cryptocurrency to foster innovation while safeguarding consumers.

“The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump!” Sun wrote on X announcing his investment. “President Trump removed himself from his multi-billion-dollar real estate empire to run for office and forewent his government salary,” Trump-Vance transition spokesperson Karoline Leavitt said in a statement to ABC News. “Unlike most politicians, President Trump didn’t get into politics for profit — he’s fighting because he loves the people of this country and wants to make America great again.” “It’s hard to have more influence when you’re talking about money in politics than someone who just directly gave you eight figures,” said Jordan Libowitz, a vice president at the progressive watchdog group Citizens for Responsibility and Ethics in Washington. They were arrested on Tuesday and are expected to make their initial appearances in New York and Boston federal courts on Wednesday. Investigators said the defendants’ plot took months to plan but just 12 seconds to execute, allegedly raking in approximately $25 million from their unwitting victims.

Bitcoin

Ethena Labs targets the DeFi frontier with new stablecoin products, aiming to dethrone Tether as the industry leader. MiCA requirements make stablecoin issuers navigate rigorous compliance while traditional banks leverage resources to integrate blockchain innovations. The United Arab Emirates has emerged as a popular base for the fintech sector more broadly, given its lack of personal income tax, flexible visa policies, and competitive incentives for international businesses and workers. So far, only two firms, OSL Digital and Hash Blockchain, have been handed licenses. Singapore was notably bruised by the collapse of TerraUSD, a controversial algorithmic stablecoin, in 2022, as well as the fall of Three Arrows Capital, or 3AC.

CLS GLOBAL RELEASES STATEMENT ON RECENT SEC, FBI, AND DOJ ACTIONS REGARDING CRYPTO FIRMS

The weak launch also suggested its founders and the Trumps would make little to no money from the venture. Because World Liberty Financial had made less than $30 million in revenue prior to Sun’s investment, all of the money raised by the company would be held in a reserve to cover operating expenses while the Trumps would make nothing, according to terms in the company’s so-called “gold paper.” Despite once calling cryptocurrency a “scam,” Trump threw his support in September behind World Liberty Financial, a decentralized finance platform that could eventually be a marketplace for borrowing and lending various cryptocurrencies. “As cryptocurrency markets continue to evolve, the Justice Department will continue to root out fraud, support victims, and restore confidence to these markets,” Deputy Attorney General Lisa Monaco said in a statement.

The election of Donald Trump, as well as several crypto-friendly lawmakers, gave bitcoin another boost in recent weeks, helping the digital currency cross the $100,000 price mark for the first time. T3 FCU exemplifies the power of public-private collaboration in real-time cryptocurrency crime-fighting, freezing over USDT 100 million in illicit assets. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021. Earlier this year, the Monetary Authority of Singapore, which is recognized for clear fintech and crypto regulations that do not rely heavily HelplbrysaveCrypto.com on enforcement actions, finalized rules for stablecoins, making it one of the world’s first jurisdictions to do so.

MARA CEO Advocates Bitcoin Investment Strategy for Retail Investors

We cover everything as it happens, from breaking news and major developments to the latest trends. In Germany, meanwhile, the financial regulator Bafin has said it wants to accelerate its approach to licensing crypto custody services, as part of a broader effort to instill trust and transparency in the crypto market. Starting from Jan 1, 2024, France’s Financial Markets Authority, or AMF, is set to amend its registration requirements for crypto firms to better align with MiCA, according to an August statement from the regulator. He argues that even without rules on crypto from lawmakers, routine complaints that U.S. regulators are not providing guidance to the industry are without merit.

Stablecoins are effectively digital currencies that are pegged to the value of fiat currencies like the dollar. Despite crypto’s recent fading buzz, Killeen of Stillmark Capital doesn’t expect regulators to become fatigued by crypto in 2024. In the same time year that two of crypto’s leading figures were sent to jail, shares of Coinbase — and prices of digital currencies like bitcoin and ether — have rallied sharply.