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A CoinDesk journalist has accused the US government of “weaponising” his old group chat after Tornado Cash and Roman Storm’s defence claimed the prosecution misconstrued evidence. Danny Nelson shared a screenshot of the chat on Monday and claimed it showed a fellow reporter asking for comments on the $600 million Axie Infinity hack, and specifically how someone would cash out that sum.   However, Storm’s defence argued that the government prosecution had wrongly attributed the writing of this message to Alexey Pertsev, one of the developers of Tornado Cash.   Nelson agreed that the evidence has been misrepresented and said, “ Reads a bit differently when you realize it wasn’t him .” The government has weaponized my old group chat to go after Roman Storm One of my former reporter colleagues asked all members of the TornadoCash/CoinDesk group chat to respond to the Axie hack. Prosecutors are presenting this message as Alexey Pertsev's. Reads a bit… pic.twitter.com/...

The cryptocurrency landscape in the United States is about to see a major change, as Charles Schwab is reportedly planning to launch spot crypto trading over the next 12 months. Indeed, the ambition was stated by CEO Rick Wurster, who restated the firm’s commitment to the sector. There is no shortage of traditional finance firms that are looking to enter the growing crypto space. Specifically, Morgan Stanley just announced that it is planning to launch cryptocurrency trading for its e-trade clients. With favorable regulation expected, this could be a preceding trend. JUST IN: $7.13 trillion asset manager Charles Schwab to launch spot crypto trading within 12 months. — Watcher.Guru (@WatcherGuru) May 1, 2025 Also Read: Visa Launches Crypto Stablecoin Payments in Latin America Charles Schwab Planning Crypto Trading Launch, CEO Confirms The landscape for cryptocurrencies as an asset class will forever change after 2025. Indeed, the United Kingdom announced a partnership with the US t...

Bank of America is lobbying Congress to pass legislation that will favor banks when determining who can issue stablecoins. The $284 billion Global Systemically Important Bank (G-SIB) aims to limit non-banks’ legal abilities to create stablecoins. This year, CEO Brian Moynihan has been working with lobbying groups like the American Bankers Association and Bank Policy Institute, according to The Block. He wants to issue a fully reserved, 1:1 backed “ Bank of America coin .” If the bank’s efforts succeed, it could limit the stablecoin efforts of non-banks like Coinbase, Circle, Amazon, Meta, Tether, and many others. Why is Tether 213% bigger than Circle but 8,000% more profitable? Read more: PayPal and Ripple stablecoins still sub-1% despite ‘stablecoin gold rush’ Bank of America wants to compete with Circle, Tether Obviously, Circle is also conducting its own lobbying efforts. The company’s major stablecoin, USDC, has a $60 billion market cap that ranks sec...

The US Securities and Exchange Commission (SEC) dropped a lawsuit against Helium developer Nova Labs yesterday and has filed a joint motion with Ripple to pause its appeal against the cryptocurrency firm.  In Helium’s case, the SEC has dismissed the suit filed against Nova Labs in January this year that accused it of issuing Helium tokens as unregistered securities. This prompted Helium to proclaim, “We can now definitively say that all compatible Helium Hotspots and the distribution of HNT, IOT, and MOBILE tokens through the Helium Network are not securities.” Separate from this case, Helium had previously lied about various big-name advertisers, while Forbes discovered that its native token was mostly held by insiders . Protos also reported how Helium’s founder, during turmoil with FTX and its partner Solana, started a professional racing team. Meanwhile, Ripple and the SEC filed a joint motion on Thursday that seeks to pause the SEC’s appeal and reach a “neg...

The U.S. Securities and Exchange Commission (SEC) is officially dropping its lawsuit against Ripple Labs, according to CEO Brad Garlinghouse. In a new video update on the social media platform X, Brad Garlinghouse says that the regulatory agency is dropping its appeal in its lawsuit against the firm, which it originally filed in December 2020 for allegedly selling unregistered securities. “I’m finally able to announce this case has ended – it’s over. Sitting here today and reflecting on four years ago, it seems very clear to me that this case was doomed from the start. In so many ways, it was the first major shot in the war on crypto. I truly felt like I knew then that not only was Ripple on the right side of the law, but I felt that we were also going to be proven to be on the right side of history… Ripple is the first company with the resources, determination, and grit to fight back against the agency’s overreach, and today this journey ...

XRP has managed to carve out a dominant position in a high-demand niche for itself. In spite of that success, the longstanding lawsuit between Ripple and the Securities and Exchange Commission (SEC) has been a stone around the cryptocurrency’s neck. While the victory of Donald Trump, largely seen as the pro-crypto candidate of the 2024 election, was initially taken as a bullish catalyst. The SEC has, indeed, dropped several cases since Gary Gensler’s exit.  Most notably, under the tenure of acting chair Mark Uyeda, the SEC has dropped its lawsuit against Coinbase. However, the regulatory body’s legal battle with Ripple has yet to be concluded. Despite widespread optimism and numerous rumors, the latest official developments in the case are months old. Picks for you XRP whales load up on 150 million tokens — should you buy the dip? ...

The Potential of Crypto to Replace Fiat Money! Cryptocurrencies once considered a niche technology, have rapidly evolved to challenge the dominance of fiat money in global finance. With Bitcoin leading the charge, digital currencies are no longer just a speculative asset—they are a potential replacement for traditional forms of money. But what makes cryptocurrencies a viable alternative, and how close are we to seeing this transition? Advantages of Cryptocurrency Over Fiat Decentralization Unlike fiat currencies controlled by central banks, cryptocurrencies operate on decentralized blockchain networks. This reduces the risk of inflation caused by excessive money printing and removes reliance on centralized authorities. Transparency and Security Blockchain technology ensures transparent and immutable records, making fraudulent activities significantly harder. This level of security is not possible with traditional fiat systems. Global Accessibility Cryptocurrencies are borderless by...

OpenSea, one of the world’s first and largest web3 marketplaces for non-fungible tokens and crypto collectibles, has received a legal notice from the United States Securities and Exchange Commission, claiming that non-fungible token collections on its market platform are illegal securities. The move is a big blow to creators, collectors, and other market players. SEC Issues A Wells Notice To OpenSea In an August 28 blog post, Davin Finzer, the co-founder and the chief executive officer of the OpenSea NFTmarketplacee, confirmed that they had been served with a legal notice by the United States Securities and Exchange Commission (SEC) that claims NFTs in its platform are securities. The fate of creators and artists now lies in the corridor of justice. OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities. We're shocked the SEC would make such a sweeping move against creators and artists. But we're read...

Democratic Party Senator Chuck Schumer aims to pass crypto-friendly bipartisan legislation by the end of this year if Vice President Kamala Harris wins the 2024 US presidential election.  “I think we should strike a balance for crypto between promoting innovation and providing common sense guardrails,” Schumer said while speaking at the virtual Crypto4Harris Town Hall meeting .  Chuck Schumer Calls For “Sensible” Crypto Regulation In The US Lawmakers can no longer “stick their heads in the sand,” Schumer said. If regulators don’t start to act, he believes the US runs the risk of losing its status as the “most innovative country in the word.” Thank you all for joining the #Crypto4Harris Town Hall 🇺🇸 We showcased so many amazing builders, founders, investors and political leaders who are eager and willing to engage @KamalaHQ regarding a "reset" on U.S. crypto policy. Big news of the night was of cours...

The judge also declined to declare CEL token “not a security,” despite related rulings in the SEC vs Ripple case. Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the CEL token was a security.  In a motion filed on July 25 and heard before the United States Bankruptcy Court Southern District New York on Aug. 14, investor Otis Davis asked the court to create a legal class for investors to be considered separate from Celsius Network employees and customers. Davis also requested that the court sanction the legal team representing the Unsecured Creditors Committee (UCC) over alleged failure to disclose required information. The filing further asked the court to declare CEL “not a security” in light of the recent findings in the SEC vs Ripple where, according to Davis, Judge Analisa Torres determined that XRP was not a security. R...

The Bank of Canada conducted research to understand how citizens would behave in a hypothetical cashless environment toward CBDC. The research paper analyzes the role of CBDC in the potential cashless scenario. The report showed that most Canadian citizens might have weak incentives to use CBDCs, as they don’t have barriers to accessing financial services. In other words, Canadian society has high levels of financial inclusion. According to the research, 98% of the population has a bank account, 87% holds a credit card, and 90% of rural and urban citizens have access to high-quality internet. The Bank of Canada explained that cash is vital to Canadian society. It added that money is needed as an offline payment method for potential emergencies, such as extreme weather or widespread power outages. The paper stressed the importance of the role of the Bank of Canada as the issuer of the traditional payment method, in other words, cash. Finally, the research paper explained s...

National Australia Bank is the latest bank to announce blocks on certain cryptocurrency exchanges, citing the high risk of scams. Another major bank in Australia has said it will block certain crypto currency platforms, citing high levels of scam risk in the industry. On July 17, National Australia Bank (NAB) announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.” Alongside halting millions in payments between March and July 2023, NAB will also introduce blocks on “some crypto currency platforms” to help protect customers from scams . NAB did not specify the names of the cryptocurrency exchanges expected to face blocks from the bank. NAB executive for group investigations and fraud Chris Sheehan only mentioned that the new blocks will affect “high-risk” platforms where “scams are more prevalent.” Sheehan stated: “These scammers are part of organized, transnational crime groups. Increasingly, we’re seeing them use cryptocurrency platfor...

Agents from the U.S. Secret Service San Francisco Field Office have answered a burning question about its NFT collection. What does it do? The United States Secret Service has finally shed more light on its bizarre nonfungible token (NFT) collection sitting on OpenSea.  The NFT collection was first revealed during a Reddit AMA on May 16, where agents answered questions from members of the r/cryptocurrency subreddit about their involvement in crypto and blockchain tech. Until this time, not much of an explanation was provided about the NFT collection or why it exists. Speaking to Cointelegraph, agents from the Secret Service’s San-Francisco field office, known as the “Digital Asset Technology Alliance” (DATA) Squad, said they wanted to better understand how NFTs worked. The U.S. Secret Service San Francisco Field Office NFT Collection. Source: OpenSea Forensic financial analyst Andrew Frey, the agent who spearheaded the Reddit AMA, said it also serves as a forward-facing example of ...

The 2018 MIT professor Gary Gensler didn’t think most ICOs triggered U.S. securities laws. The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The video came from a “Blockchain and Money” class in the Fall Semester of 2018 taught by Gensler, a former professor at the Massachusetts Institute of Technology (MIT) before he became chair of the Securities and Exchange Commission (SEC). On the topic of initial coin offerings (ICOs), Gensler said that "three-quarters of the market are not ICOs or not what would be called securities" and named the U.S., Canadian and Taiwanese markets as the "three jurisdictions that follow something similar to the Howey Test." "Three-quarters of the market is non-securities, it's just a commodity, cash,crypto,” Gensler then said. The below cli...

Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening financial crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are at risk of a depositor-driven collapse. It was highlighted that the monetary policies penned down by central banks could hurt long-term assets such as government bonds and mortgages, creating losses for banks. The 2008 financial crisis was driven by the collapse of the housing market. However, Schiff believed the crisis ...

The Nigerian president-elect wants to review existing SEC digital asset regulations to stimulate economic growth. Nigerian President-elect Bola Tinubu has recently released a manifesto that, if implemented, would enable the use of blockchain technology and Cryptocurrencies in the nation’s Banking and Finance sector . The manifesto suggests reviewing existing Security Exchange Commission (SEC) regulations on digital assets to make them more business-friendly. The new regulation provides a framework for regulating digital assets like cryptocurrencies and other digital tokens in Nigeria. The suggested regulations would require digital asset companies to register with the SEC and mandate that all digital asset offerings and investments comply with SEC regulations. Nigeria's President-elect, Bola Tinubu. In the manifesto, Tinubu said: “We will reform the policy to encourage the prudent use of blockchain technology in Banking and finance, identity management, revenue collection and ...

With the Hong Kong Stock Exchange being the only regulated exchange in Asia offering Bitcoin futures ETFs, some believe spot crypto ETF products will soon be allowed. Hot on the heels of its Bitcoin (BTC) futures exchange-traded fund (ETF) in Hong Kong, Samsung Asset Management has indicated it's considering the launch of a spot Bitcoin ETF on the city's exchange if policies allow for it. In an interview with Bloomberg published on Jan. 13, Hong Kong chief executive for Samsung Asset Management, Sam Park, said: “It really depends on how policy is going to be developed,” adding that the Hong Kong administrators are “clearly” interested in developing the city into a crypto hub. An ETF analyst at Bloomberg Intelligence, Rebecca Sin, noted that “Hong Kong is well positioned to become Asia’s crypto gateway,” and expects spot Bitcoin and Ether (ETH) products to be allowed there by the year's end. A spot market refers to a market where the exchange of financial instruments is set...