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Lawmakers should also beef up the department's powers under the Bank Secrecy Act (BSA), allowing for the "targeting of cryptocurrency entities and services that facilitate funding for terrorists," the proposal said. It calls for a new category of financial institutions under the BSA that would include "cryptocurrency exchanges, Virtual Asset
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Government supervision is needed to protect investors and crack down on unlicensed platforms, Lee said according to the report. The Hounax case follows a similar one involving crypto exchange JPEX, which led to the arrest of six people in September after more than a thousand complaints involving a total of
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The decentralized derivatives exchange dYdX’s native token DYDX surged over 21% in the last 24 hours, and nearly 67% over the past week following the official launch of live trading on the dYdX Chain on November 13th. DYDX is the 67th biggest cryptocurrency, with a market cap of $766 million. This
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The U.S. Federal Reserve needs to regulate and enforce the law against stablecoin issuers, said Federal Reserve Vice Chairman for Supervision Michael Barr, making the federal-oversight argument that has been the major sticking point as the U.S. House of Representatives debates legislation.Republican lawmakers have leaned into a state-oversight route for
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“Ultimately, inadequate disclosures persist because opacity serves sponsors, executives, and other crypto industry insiders,” Brown argued. “It is far easier to profit when customers are left in the dark. That’s why the crypto companies resist real transparency and try to force Americans to accept the paltry, self-serving disclosures endemic to
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Sweden has welcomed a hydro-powered Bitcoin (BTC) mining data center. Genesis Digital Assets Limited (GDA), a mining and data center company with over 400 MW of power generation worldwide has made a opened a new data center in Sweden, driven by the country's burgeoning renewable energy surplus. The new operation is
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The New York Department of Financial Services would have stronger authority to regulate digital assets, with exchanges having to reimburse customers if they’re the victims of fraud, under a bill proposed by the state’s Attorney General Letitia James on Friday, according to media reports. Source
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Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that "closes the current gap in the oversight of crypto spot markets."During a speech at the digital assets conference at Duke University on Jan. 21, Johnson proposed a number of amendments that would enable the CFTC to
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Core Scientific is just one of the many names in the crypto ecosystem that is currently battling a liquidity crisis.Core Scientific Inc (OTCMKTS: CORZQ), the bankrupt crypto miner and hosting service provider has effectively powered down as many as 37,000 mining rigs belonging to Celsius Network. Both companies, now bankrupt
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Ethereum's Shanghai upgrade is set to de-risk ether staking by allowing ETH withdrawals. That's likely to pave the way for widespread adoption of liquid staking solutions. Source
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