Key Takeaways On October 7, 2024, the United States Supreme Court declined to hear an appeal concerning the ownership of 69,370 Bitcoin, valued at $4.38 billion, which was seized by the government in connection to the infamous dark web marketplace,…
Key Takeaways A 21-year-old man from Indiana, Evan Frederick Light, has pleaded guilty to charges connected to a significant cryptocurrency theft that resulted in over $37 million in losses. The case involves nearly 600 victims and stems from a data…
Key Takeaways Several U.S. federal agencies are working on updating the definition of “money” to enhance reporting obligations for financial institutions engaged in cryptocurrency transactions. This initiative aims to align the regulatory standards for digital assets with those governing traditional…
Key Takeaways On August 8, 2024, the U.S. Securities and Exchange Commission (SEC) announced a settlement with Ideanomics, Inc., settling allegations of fraud related to the company’s financial reporting. Ideanomics, previously known as Seven Stars Cloud Group, and several of…
Key Takeaways Leading crypto exchange Gemini, is urging the U.S. Commodity Futures Trading Commission (CFTC) to reconsider its proposed regulation that would ban all event contracts on decentralized prediction markets. The proposal, which was voted on by the CFTC in…
Key Takeaways The United States is exploring a new financial frontier with a proposal from the USABTC policy group to establish a Digital Economic Zone (DEZ) aimed at integrating Bitcoin into the American financial system. The initiative advocates for a…
Key Takeaways North Carolina Governor Roy Cooper has vetoed House Bill 690, which aimed to ban the state from implementing a Federal Reserve-issued central bank digital currency (CBDC). The veto comes despite overwhelming support for the bill in both the…
Key Takeaways The German and United States governments have drawn significant attention after making substantial cryptocurrency transfers. On July 1, the German government moved 1,500 Bitcoin, worth roughly $95 million, to multiple crypto exchanges. Simultaneously, the U.S. government transferred 3,375…
Key Takeaways North Carolina’s General Assembly passed House Bill 690 on Wednesday, imposing restrictions on the state’s government from using or accepting a Federal Reserve-issued central bank digital currency (CBDC). The bill now awaits approval from Governor Roy Cooper. The…
Key Takeaways President Joe Biden has vetoed a congressional resolution that aimed to overturn the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). SAB 121 requires publicly traded companies, including banks, to record crypto assets as both assets and liabilities…
