Category: Law of the Chain
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Legislative Battle Over Crypto in the U.S. Congress News ETHNews
Republicans launch ‘crypto week’ to fast-track three bills, including GENIUS and CLARITY Acts, while Democrats oppose them, linking the bills to Trump’s crypto ventures and fraud risks.
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The SEC Chair Who Sued Ripple Is Now Prosecuting Roman Storm – Decrypt
Former SEC chair Jay Clayton, who sued Ripple, is now prosecuting Tornado Cash developer Roman Storm. Clayton’s mixed crypto record includes lawsuits against major firms and a role in DeFi’s regulatory challenges.
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SEC charges Georgia’s First Liberty Building & Loan and owner in $140M Ponzi scheme
The SEC charged Georgia’s First Liberty Building & Loan and owner Edwin Frost with a $140M Ponzi scheme, alleging false promises of high returns and misusing investor funds for personal expenses.
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Financial Giant Handing up to $5,000 per Person in Data Breach Settlement After Names, Social Security Numbers and More Exposed – The Daily Hodl
Prudential Financial settles a 2024 data breach lawsuit, offering up to $5,000 per person for losses. The $4.75 million fund covers damages like identity theft and credit monitoring.
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Think Before You Tap: Tasmania’s Crypto ATM Craze Turns Into $1.6M Scam Disaster
Tasmania Police report $1.6M lost in crypto ATM scams, with victims redirected after banks blocked suspicious transfers. Authorities warn against urgent ATM use requests from unknown parties.
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Will Trump’s $1.2B crypto plans endure ‘anti-crypto corruption week’?
Democrats oppose Republican-led crypto bills, calling them enablers of fraud linked to Trump’s $1.2B crypto ventures. A legislative showdown looms as Republicans push for passage of the GENIUS and CLARITY Acts.
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US Treasury Removes Crypto Broker Reporting Rules – Details
The US Treasury and IRS have revoked a controversial crypto broker reporting rule that required decentralized exchanges to report customer data, following congressional disapproval and President Trump’s signing of the resolution.
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Powell ‘May Resign’ Over $2.5B HQ, Trump Demands 1.25% Rate
Fed Chair Powell faces pressure over a $2.5B HQ renovation and Trump’s demand for 1.25% rates. Some officials suggest resignation ahead of the July 29 Fed meeting.
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Next Week To Make US The “Crypto Capital”, Says Bo Hines
Bo Hines highlights ‘Crypto Week’ in the US, with key bills like GENIUS and CLARITY Acts advancing. These could establish US crypto dominance, while opposition pushes back against CBDCs and stablecoin regulations.
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BlockFi bankruptcy administrator and DOJ agree to dismiss $35M lawsuit
BlockFi’s bankruptcy administrator and the DOJ settled to dismiss a $35M lawsuit over crypto asset transfers. The case, dismissed with prejudice, involved funds from Estonian citizens unrelated to BlockFi’s bankruptcy.
