Live, captivating stories on the latest trends in crypto and NFTs. Generated by AI.
U.S. House Approves Blockchain Bills, Warren Criticizes Crypto, Terrorism Financing Prevention Act Introduced, North Korea Uses Crypto for WMD Program
The U.S. House approved pro-blockchain bills, but omitted crypto provisions in the defense authorization bill. Senator Elizabeth Warren criticized cryptocurrencies, calling them a threat to the U.S., and claimed North Korea is using crypto to fund its nuclear weapons program. Warren called for the U.S. Bank Secrecy Act to be updated to address the 'threat' of crypto. A bipartisan group of senators introduced the Terrorism Financing Prevention Act to expand Treasury Department's sanctions powers and address crypto. An illicit finance bill targeting crypto was also introduced. Two crypto provisions addressing anti-money-laundering concerns were dropped from a must-pass bill, ending a backdoor effort to get digital-asset rules passed this year in the U.S. National security officials from the U.S., South Korea, and Japan pledged to deepen security cooperation and jointly respond to North Korea's cyber activities, including its use of crypto to fund its WMD program. Elon Musk responded to Warren's crypto comments.
El Salvador Launches 'Freedom Visa' Program for $1M Bitcoin or USDT Investors, Offering Residency and Potential Citizenship to 1,000 Applicants
El Salvador has introduced a new citizenship-by-investment program, the 'Freedom Visa', offering residency and potential citizenship to 1,000 applicants committing to a $1 million investment in Bitcoin or USDT. The program has raised discussions about the country's Bitcoin bet and its potential payoff. The application costs a non-refundable $999 in BTC or USDT, and the process has gone live. The initiative is seen as a way for foreigners to move money out of their governments' grasp. The program is limited to 1,000 participants per year, potentially raising $1 billion for El Salvador.
Judge Approves Binance, Former Chief's Guilty Plea Deals; Orders Zhao to Stay in US Until February Sentencing
U.S. District Judge Richard Jones in Seattle has approved plea deals agreed by U.S. prosecutors, Binance Holdings, and its former chief Changpeng Zhao. Zhao pleaded guilty to violating the Bank Secrecy Act. The judge has ruled that Zhao must stay in the U.S. until his sentencing in February for violating U.S. anti-money laundering laws. The ruling was based on the government's motion, citing Zhao's wealth and lack of U.S. ties as reasons for his restriction. The plea agreement and sentencing are related to criminal charges and anti-money laundering violations.
Kazakhstan Cracks Down on Unregistered Crypto Exchanges, Blocks Coinbase, Initiates Money Laundering Investigations, Approved Exchanges: Binance, Bybit, CaspianEx, Biteeu, ATAIX, Upbit
Kazakhstan's financial regulator has intensified its crackdown on unregistered cryptocurrency exchanges, blocking 980 platforms, including Coinbase, and initiating 9 money laundering investigations. Binance, Bybit, CaspianEx, Biteeu, ATAIX, and Upbit are among the approved exchanges. The country is taking a firm stance against crypto-related tax evasion and is seeing a surge in cases. Additionally, Coinbase is facing a money laundering investigation in Kazakhstan as the country expands its crypto industry crackdown.
Starknet, Ethereum's Layer 2 Solution, to Distribute 1.8 Billion STRK Tokens for User Rewards and DeFi Incentives
Starknet, a layer 2 solution for Ethereum, is set to distribute over 1.8 billion STRK tokens, with 900 million allocated for user rewards and 50 million for DeFi incentives. The distribution aims to benefit past and future contributors, provide transaction fee rebates, and promote DeFi projects.
Solana's MadLadsNFT Collection Boosts 24-Hour NFT Sales Volume to Over $15M, TVL Breaks $700M
Solana, a blockchain platform, has seen significant growth in its NFT sales volume. In a series of breaking news, it was reported that the total value locked (TVL) on Solana has surpassed $700 million, 24-hour NFT sales volume broke $11 million, and 24-hour NFT sales volume reached $15 million, surpassing Ethereum's dominance. Additionally, the MadLadsNFT collection on Solana broke into the top 3 collections by 24-hour NFT sales volume. Solana's performance has drawn attention, with comparisons to Ethereum's strengths and discussions about its potential to surpass Ethereum in DEX volume and NFT sales. The platform's rise has been described as a phoenix rising from the ashes, and there is a growing acknowledgment of the potential for both Solana and Ethereum to be successful.
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