Innovfx

09/19/2022

Cyber Criminals Increasingly Exploit Vulnerabilities in Decentralized Finance Platforms to Obtain Cryptocurrency, Causing Investors to Lose Money

The FBI is warning investors cyber criminals are increasingly exploiting vulnerabilities in decentralized finance (DeFi) platforms to steal cryptocurrency, causing investors to lose money. The FBI has observed cyber criminals exploiting vulnerabilities in the smart contracts governing DeFi platforms...

08/03/2022

Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help

Some of the 1.7 million Celsius customers ensnared by the alleged fraud are now directly pleading with the Southern District of New York to help them get their money back.
It is the latest sign that bankruptcy court has become the de facto arbiter of crypto policy in the U.S.

The question of who gets repaid first — should that day ever come — looms heavy over the bankruptcy proceedings of crypto lender Celsius.

06/14/2022

Bitcoin plunges below $24,000 and the crypto meltdown claims another casualty

One of the world's biggest cryptocurrency lenders has paused all withdrawals as the market meltdown continues apace.

05/05/2022

California governor issues executive order on crypto as state embraces blockchain technology

Gov. Newsom's executive order on blockchain aligns with the Biden administration proposal in March.
The directive spells out a road map on regulatory and consumer protections.
The governor is calling on California to examine using blockchain solutions in state operations.

https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2022/05/04/california-governor-signs-executive-order-on-cryptocurrencies.html

California Gov. Gavin Newsom issued an executive order opening up the state to cryptocurrencies.

05/02/2022

Cause you're like 100-year-old grandpa.

NEXT GEN INVESTING
Warren Buffett wouldn’t buy ‘all of the bitcoin in the world’ for $25: ‘It doesn’t produce anything’

Buffett didn't mince his words when he was asked if he had changed his famously negative views on bitcoin or crypto.

04/13/2022

According to Ethereum core developer Tim Beiko, the network’s much-anticipated shift to proof-of-stake might not come until the fall.

03/08/2022

President Biden to sign crypto executive order this week as industry faces sanctions pressure

The US approach to cryptocurrency has attracted new attention in recent weeks as Washington levies sanctions on Russia.

02/07/2022

The ‘Bitcoin Family’ immigrates to Portugal for its 0% tax on cryptocurrencies

After spending the last five years traveling to more than 40 countries, the family that cashed everything out for crypto is setting down roots in Portugal.

02/05/2022

Bitcoin has become a lifeline for s*x workers, like this former nurse who made $1.3 million last year

Shut out of the traditional economy, s*x workers and adult entertainers are embracing cryptocurrency to secure their finances.

11/12/2021

Tim Cook Invests In Crypto But Don't Expect It On Apple Pay, For Now
Apple CEO revealed that he personally invests in cryptocurrency, but that he has no plans to invest Apple's cash in the asset.

Tim Cook is a cryptocurrency owner. But don't call him a bitcoin bull.

10/08/2021

White House Considering Executive Order on Crypto Oversight: Report
The order would include the Treasury Department, Commerce Department, National Science Foundation and national security agencies.

U.S. President Joe Biden

The U.S. government may expand its efforts to study and regulate the roughly $2 trillion digital asset sector.

The Biden administration is considering an executive order for federal agencies, which would require them to study the crypto industry and provide recommendations on their oversight, Bloomberg reported Friday, citing unnamed sources.

According to the report, the order would include the Treasury Department, Commerce Department, National Science Foundation and national security agencies. In addition to asking agencies to study different aspects of the industry, the order “would clarify the responsibilities” different agencies have around crypto and blockchain.

Requests for comment sent to the White House, Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) were not immediately returned. The Treasury Department declined to comment.

Federal agencies have already been studying or providing regulatory guidance around the digital asset sector for years. The Office of the Comptroller of the Currency (OCC), SEC and CFTC have issued guidance letters, informal statements and public rulemaking efforts to direct how different aspects of the crypto industry should comply with federal law.

The OCC, Federal Deposit Insurance Corporation (FDIC) and Federal Reserve – three federal bank regulators – formed a “sprint team” to coordinate their work around crypto earlier this year.

According to Bloomberg’s report, one of the executive order’s provisions would coordinate this effort.

The Biden administration has ramped up the U.S. government’s work around crypto in recent months. In September, the Treasury Department’s Office of Foreign Assets Control sanctioned a crypto exchange in a first as part of its response to a spate of ransomware attacks.

The President’s Working Group on Financial Markets is also set to consider a report that would recommend Congress enact legislation to create a special purpose charter for stablecoin issuers, treating these entities akin to banks.

The Federal Reserve, the U.S. central bank, is also set to issue reports on stablecoins – digital asset tokens whose values are pegged to another asset, such as U.S. dollars – and central bank digital currencies (CBDCs).

The order would include the Treasury Department, Commerce Department, National Science Foundation and national security agencies.

09/27/2021

China's central bank on Friday declared all transactions involving cryptocurrencies such as bitcoin illegal and stepped up a crackdown on illegal mining of them in the country.