Bitcoin Trading at Discount on Binance.US as Regulatory Woes Mount
• Ethereum needs three critical transitions to ensure its survival.
• US Department of Justice (DOJ) charged two Russians with laundering over 600k Bitcoin.
• Bitcoin trades at a slight discount on Binance.US as banking partners cut ties and Coinbase CEO’s $1.8 million stock sale raises eyebrows amidst a lawsuit from the SEC.
Ethereum Needs 3 Critical Transitions
Vitalik Buterin, the creator of Ethereum, recently highlighted that for Ethereum to survive long-term, it needs three critical transitions: scaling, usability and decentralization. He suggested that these changes will be necessary to help the blockchain network remain competitive in the future and prevent it from becoming obsolete due to newer technologies such as proof-of-stake networks or other consensus algorithms.
US DOJ Charges Two Russians with Laundering Over 600k Bitcoin
The US Department of Justice (DOJ) recently charged two Russians for allegedly laundering more than 600 thousand bitcoin worth around $14 billion – making this one of the largest cryptocurrency money laundering cases in history. The accused are said to have used their access to an online marketplace called “Darknet” which is used for illegal activities such as drug trafficking and arms dealing, in order to launder the funds obtained through various criminal activities including ransomware attacks and malicious software sales.
Bitcoin Trades At Slight Discount On Binance US As Banking Partners Cut Ties
Bitcoin is currently trading at a slight discount on Binance US following the exchange’s announcement that its banking partners had decided to halt USD payment channels on June 13th amidst ongoing regulatory troubles according to data aggregator Kaiko Data. Additionally, Coinbase CEO Brian Armstrong’s recent $1.8 million stock sale has raised eyebrows amidst a lawsuit from the Securities Exchange Commission (SEC).
SEC Rejects Regulatory Clarity Arguments In Speech On Crypto Regulation
In a speech given by Gary Gensler, chairman of the Securities Exchange Commission (SEC), he rejected arguments calling for „regulatory clarity“ when it comes to crypto regulation stating that some businesses may prefer ambiguity because it allows them greater freedom when it comes to taking risks or engaging in misconduct without legal repercussions. He also highlighted that while there are benefits associated with digital assets like cryptocurrencies, there are also significant risks such as money laundering and fraud which need adequate regulations in place in order ensure public safety and trust in digital asset markets going forward.
Coinbase CEO’s Stock Sale Raises Eyebrows Amidst SEC Lawsuit
Coinbase CEO Brian Armstrong recently sold off stocks worth $1.8 million dollars amidst a lawsuit from the Securities Exchange Commission (SEC). This has raised some concerns among investors about his commitment towards Coinbase given that he is selling off his shares just before any potential negative news could affect its value negatively due to increased regulatory scrutiny surrounding cryptocurrencies within the United States market space
