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Furthermore, the act aims to explicitly forbid U.S. government officials from engaging in transactions with iFinex, the parent company of USDT issuer Tether. U.S. Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies. The Act would ban government employees from using the underlying networks of Chinese blockchain or cryptocurrency trading platforms. Furthermore, it would explicitly forbid U.S. government officials from engaging in transactions with iFinex, the parent company of USDT issuer Tether. In addition to iFinex, the CLARITY Act would prohibit officials from conducting transactions with The Spartan Network, The Conflux Network, and Red Date Technology. In a statement on Wednesday, the lawmakers said that the legislation, if passed, would ensure the natio...

The lawyer representing Ryder Ripps and Jeremy Cahen struggled to convince a panel of judges that Yuga Labs’ case against his clients should be thrown out under California’s anti-SLAPP statute. Nonfungible token (NFT) artist Ryder Ripps’ most recent attempt to dismiss the Bored Ape Yacht Club-related lawsuit against him appears to have fallen on skeptical ears. In an Oct. 17 hearing, three judges from the United States Court of Appeals for the Ninth District appeared largely unpersuaded by the arguments from the attorney representing Ripps and Jeremy Cahen (known by the pseudonym “Pauly” on X), who argued the case should have been dismissed on the grounds of free speech. Ripps and Cahan’s lawyer, WilmerHale partner Thomas Sprankling, argued the knock-off Bored Ape NFTs were sold and distributed in a way that protested the supposedly anti-semitic imagery hidden within the Yuga Labs-created collection. He repeatedly positioned Ripps and Cahan as selling the NFTs as an avant-garde exerc...

Sam Curry, a security engineer at Yuga Labs,in a now-deleted X thread, said he was detained at a U.S. airport because he had earlier attempted to investigate a crypto scam. According to reports, he was detained by U.S. federal agents on Sept. 15 after returning from a trip to Japan. Curry was questioned by Internal Revenue Service’s Criminal Investigation (IRS-CI) unit and the Department of Homeland Security (DHS) agents about a “high-profile phishing campaign.” Thinking it was random, the engineer gave his unlocked phone for agents to access OpenSea logs. You might also like: OpenSea ex-manager retracts bail request amid ongoing appeal U.S. agents later served him with a grand jury subpoena to testify in New York as part of an ongoing investigation into wire fraud and money laundering. However, the subpoena was canceled when agents realized Curry wasn’t involved in the case. “I’m sharing this because I think it’s something peop...

Dennis Porter said that the government should give $10,000 worth of Bitcoin to debtors and lock it for 10 years. Following United States President Joe Biden's announcement of a student loan forgiveness plan that aims to cancel the debt of up to $20,000 for millions of Americans, a Bitcoin (BTC) supporter proposed an alternative method to pay off the loans.  Dennis Porter, the CEO of the non-profit organization called Satoshi Action Fund, tweeted that there's another way for the U.S. government to solve the student loan issue. According to Porter, Biden could give each debtor some BTC worth $10,000 and lock it within a smart contract for 10 years. The non-profit executive explained that the contract should be sufficient to pay off the remaining balance once it is released.  Community members criticized Porter's mention of a smart contract as some believe that the Bitcoin network cannot support this. One Twitter user replied to porter and urged him to not just "lump ra...

Also Read: Binance Vs SEC News: BinanceUS Files Motion In Response To Earlier Deal With SEC advertisement Bitcoin At Inflection Point With large financial companies filing for spot Bitcoin ETF and the overall optimistic environment in the financial industry, it feels like the industry is at an inflection point, he explained on Friday speaking in an interview. At this point, we have the most information to conclude that Bitcoin is a differentiated international asset store of value and digital commodity. Saylor had also commented on Democratic Presidential Candidate Robert F. Kennedy Jr’s promise to back the US dollar with Bitcoin. The MicroStrategy cofounder said the move could raise the credibility of the US central bank if it holds some Bitcoin. Saylor explained that approval of the spot Bitcoin ETFs from the likes of Blackrock and Citadel could change the landscape around how BTC is bought by retail investors and institutions. He said Big Tech co...

Michael Saylor, Layah Heilpern and Steven Lubkha were among those in the crypto community that took an interest in what Australian actress Margot Robbie had to say about Bitcoin. Australian actress Margot Robbie, who is playing the lead in the new Barbie movie, has caused quite a stir within the crypto community after stating that simply talking about Bitcoin (BTC) gives off Ken vibes. In the last 24 hours, the crypto community on Twitter, including Microstrategy's Michael Saylor and prominent Youtuber Layah Heilpern, showed a mixed response to Robbie’s statement about Bitcoin that she made in an interview with Fandango on June 22. #Bitcoin is Big Ken Energy. pic.twitter.com/ExFOGXsuJ9 — Michael Saylor️ (@saylor) July 28, 2023 Robbie revealed that every time she overheard her husband Tom Ackerley and television producer David Heymen discussing Bitcoin on set, it brought to mind the traits of Ken, the fictional co-star character in Barbie, portrayed by Ryan Gosling.  “When Da...

RFK Jr. said he will use Bitcoin to stabilize the U.S. dollar as well as make Bitcoin profits exempt from capital gains tax. Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president.  Speaking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. dollar with what he called "hard currency," including gold, silver, platinum or Bitcoin, could help to re-stabilize the American economy. "Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.” Kennedy explained the process would be gradual and depending on the plan’s success he’d adjust the amount of backing for the dollar. “My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinu...

US House to Bring Regulatory Clarity on Crypto in Coming Weeks US House Financial Services Committee Republican Chairman Patrick McHenry intends to hold a committee vote on a digital asset bill to bring clarity to the crypto industry. The voting on the bill will happen after lawmakers return on July 11. advertisement “I intend for this committee to mark up some form of this legislation when we return from the July 4 recess.” On Tuesday, the US House Financial Services Committee Democrats and Republicans discussed two bills to bring “clarity” regarding the  digital asset market structure  and regulation of  payment stablecoins . The bills mark the first step towards regulating crypto in the US. CoinGape Media earlier reported how the US House bills to provide clarity on the digital asset ecosystem and oversight of the crypto industry. The bill aims to provide both the Securities and Exchange Commission (SEC) and the Commod...

“I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate,” said Senator Warren, agreeing with a New York Times article on the matter. United States Senator Elizabeth Warren blamed the Bitcoin (BTC) mining industry for rising energy prices in American households based on unverified mainstream reporting. However, Crypto Twitter was not ready to let it slide and unanimously decided to clarify the disinformation.  While Senator Warren has predominantly spoken against the crypto ecosystem, the latest dig at Bitcoin Mining comes based on a New York Times article. The report accuses Bitcoin miners of cashing in on electricity and indirectly forcing the public to pay the price. The narrative fit Warren’s perception of the crypto industry as she stated: “I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate. U.S. Environmental Protection Agency and Department of Energy should use their authority to require cryptomine...