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$

BTC $66,881 -2.00% ETH $3,319 +1.43% BNB $575 -1.62% SOL $183 -1.13% XRP $0.60
+0.06% ADA $0.404 -0.86%
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4 hours ago


BILL TARGETING ILLICIT USE OF CRYPTO PASSES US HOUSE: LAW DECODED

Legislation focuses on preventing illicit cryptocurrency activities while
safeguarding consumer choice.

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United States lawmakers in the House of Representatives have voted in favor of
legislation targeting the illicit use of cryptocurrencies.

House members passed the Financial Technology Protection Act on July 22 by voice
vote after the bill was introduced in April 2023.

According to Representative Zach Nunn, the bill aims to “ensure the United
States is prepared to address security risks and prevent illicit money
laundering while also protecting consumer choice.”

Nunn and fellow Representative Jim Himes introduced the bill to address how
“rogue and foreign nations” could bypass sanctions.


CITRON CRYPTO-SKEPTIC ANDREW LEFT TO FACE FRAUD CHARGES

On July 26, Andrew Left, founder of short-selling financial research firm Citron
Research, was accused of securities fraud for allegedly profiting $16 million
through stock “bait and switch.”

Bait and switch refers to a deceptive tactic used to lure unsuspecting victims
with an attractive offer, only to be forced to accept a deal they would not have
initially agreed upon.

The accusation stated that Left, a known crypto-skeptic, made misleading
recommendations to retail investors on social media and TV appearances in which
he had taken long or short positions.

The US Securities and Exchange Commission statement dated July 26 alleged that
Left had bragged to colleagues that it was like taking “candy from a baby” when
misleading investors with his recommendations.

The SEC further alleged that the “fraudulent practice” enabled Left to use
Citron Research reports to derive “short-term profits” from retail investors.

Continue reading


MARATHON DIGITAL FINED $138 MILLION FOR NON-CIRCUMVENTION AGREEMENT BREACH

On July 23, Marathon Digital, the largest Bitcoin

BTC

$66,881

mining company by market capitalization, was fined $138 million for breaching a
non-disclosure or non-circumvention agreement.

Michael Ho, co-founder of the US Bitcoin Corp and the chief strategy officer of
mining company Hut 8, won the lawsuit against Marathon Digital Holdings for the
breach.

In a press release shared with Cointelegraph, Affeld England & Johnson,
representatives of Ho, stated that the executive developed a growth strategy for
Marathon in 2020.

According to the law firm, Ho was not compensated for the proprietary
information he provided, leading to Marathon breaking their non-circumvention
agreement.

Continue reading


COINBASE ADDS FORMER BILL CLINTON AIDE, SUPREME COURT LAWYER TO BOARD

Cryptocurrency exchange Coinbase has added three new members to its board of
directors, including former Bill Clinton aide Chris Lehane.

Lehane served as Clinton’s Democrat strategist in 1992, shortly before the
former US president began his two-term tenure between 1993 and 2001.

The former political strategist was most recently a senior OpenAI executive and
expressed his excitement “to support Coinbase as they continue to advocate for
the 52 million Americans who own crypto.”

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 * #Bitcoin
 * #Cryptocurrencies
 * #Fraud
 * #Law
 * #SEC
 * #United States
 * #Fines
 * #Bill Clinton
 * #Clinton
 * #Regulation
 * #OpenAI


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