Karl Greenwood, co-founder of OneCoin with Ruja Ignatova, was sentenced to 20 years in prison and ordered to pay $300 million in the United States on Sept. 20. Ignatova remains at large. Greenwood, who is a citizen of the United Kingdom and Sweden, was sentenced in the U.S. Southern District Court of New York. In…
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A petition was created on Change.org on Sept. 12 to oppose the use of Chainalysis forensic services by federal agencies. The petition questioned Chainalysis’ accuracy and raised legal issues related to the activities of the blockchain data analysis firm. The petition, started by “Stop Chainalysis,” stated that Chainalysis’ software assists law enforcement crime prevention efforts…
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Asset manager Franklin Templeton applied to the United States Securities and Exchange Commission (SEC) on Sept. 12 to launch a Bitcoin (BTC) spot exchange traded fund (ETF). The application comes after the SEC delayed decisions on applications from WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise and Invesco BTC spot ETF applications on Aug. 31 and a court…
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Blockchain could be used to authenticate the real from what is generated by artificial intelligence, Congressman Tom Emmer suggested Sept. 11 at the Permissionless II conference. That would combine nicely with other progress being seen in United States cryptocurrency policy, he said. Speaking on a panel, Emmer began on a cautious note, saying the recent…
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FTX has released its presentation materials for the shareholder meeting taking place Sept. 11-12. The unrestricted portion provides a clear overview of the company’s current state and its slow march toward settlement. The shareholders will begin their day with an account of the claims against the cryptocurrency exchange. Over 2,300 non-customer claims have been filed…
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The Federal Reserve Bank vice chairman spoke at the Philadelphia Fed’s fintech event on Sept. 8 about what the central bank’s role is in financial innovation. Research and supervision was the short answer, with a nod to the FedNow Service. Along with the standard disclaimer about it making no decisions without congressional authorization, Barr provided…
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Big businesses are able to act as “mini-governments” and impose their own rules on payment infrastructure, Rohit Chopra, director of the United States Consumer Financial Protection Bureau (CFPB), said at a fintech conference hosted by the Philadelphia Federal Reserve Bank on Sept. 7. As Big Tech continues to innovate, small firms may be squeezed out…
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The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules will go into effect in 2025. The FASB is the United States organization that sets accounting and reporting standards for organizations that follow U.S. Generally Accepted Accounting Principles (GAAP).…
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Bitcoin miner Riot Platforms mined fewer Bitcoin in August than July but received over $31 million in power credits. That is the equivalent of around 1,136 Bitcoin (BTC), CEO Jason Les pointed out in a statement. Riot received an estimated $24.2 million in power curtailment credits under its contract with Texas grid operator Electric Reliability Council…
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The European Central Bank (ECB) is quite happy with the European Commission’s (EC) legislative proposals for the digital euro. ECB executive board member Fabio Panetta told the European Parliament’s Committee on Economic and Monetary Affairs in a speech on Sept. 4 that the proposals “put Europe at the forefront of advanced economies” in CBDC development,…
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