Cryptocurrency Analysis and News Portal
Ether, the second biggest crypto in market value, followed a similar pattern and was changing hands under $1,600, a roughly 6% decline from a day earlier as inflation worries trumped Merge excitement. The Merge, the shifting of the Ethereum blockchain from a slower, more energy sapping proof-of-work protocol to proof-of-stake
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Lawmakers in California State Assembly 71-0 passed the Digital Financial Assets Law, also known as AB 2269, on Tuesday, Aug. 30. The bill is now in the hands of the state’s governor Gavin Newsom, who will either set it into motion or veto it completely. This bill requires digital asset exchanges
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“While the newness of cryptocurrency is part of what makes investing exciting, it also makes it riskier for consumers because cryptocurrency businesses are not adequately regulated and do not have to follow many of the same rules that apply to everyone else,” Assembly Member Timothy Grayson (D-Concord), the bill’s sponsor,
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Richard Yuan Li, whom prosecutors had charged with one count of conspiracy to commit felony wire fraud, and co-conspirators stole the crypto from an unnamed New Orleans physician after gaining access to multiple crypto accounts. The victim had accounts with Binance, Bittrex, Coinbase, Gemini and Poloniex, among others. At one
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The Department of Financial Protection and Innovation of California (DFPI) continues to bring actions against crypto interest account providers, failing to comply with the local law. After commanding BlockFi and Voyager to stop their offerings in the state, the DFPI issued a desist and refrain order to crypto lending firm
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Two Orange County, California men were sentenced to prison on Monday for operating a cryptocurrency scam that swindled over 2,000 investors out of a collective $1.9 million, according to the Department of Justice. Source
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Candidates for state and local offices in California will once again be allowed to accept donations in cryptocurrency after a ban was lifted by the state's Fair Political Practices Commission (FPPC) on Thursday. The ban was imposed in 2018.California was one of nine states that had banned political contributions in
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The California Department of Financial Protection and Innovation (DFPI) has warned consumers to “exercise extreme caution” when dealing with interest-bearing crypto-asset accounts. The DFPI stated that it is investigating multiple crypto interest account providers to determine whether they are “violating laws under the Department’s jurisdiction.” In a July 12 note,
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The department didn’t name the companies under investigation, but it did say it is eyeing "multiple" companies that “offer customers interest-bearing crypto asset accounts,” or crypto-interest accounts, and service providers that “may not have adequately disclosed risks customers face when they deposit crypto assets onto [lenders’] platforms.” Original Source
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A California state regulator may be looking at overturning a ban on cryptocurrency donations to political campaigns which has been in effect since 2018.According to its May 2022 agenda, California’s Fair Political Practices Commission, or FPPC, has scheduled a “pre-notice discussion” on Thursday on the use of cryptocurrencies f campaign
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