US Representative Sean Casten, Democrat of Illinois, along with lawmakers Stephen Lynch, Brad Sherman, Bill Foster and others, sent a letter to the Treasury urging it to investigate illicit financing through cryptocurrency mixing services, particularly Tornado Cash. "Despite the sanctions, Tornado Cash remains online and continues to function as a decentralized smart contract," the lawmakers said in the letter. The US Treasury's Office of Foreign Assets Control (OFAC) announced in 2022 that...
On July 13th, in light of a recent court ruling in Illinois classifying bitcoin and ether as commodities, Nigerian stakeholders have urged the Nigerian Securities and Exchange Commission (SEC) to adopt a similar approach in its regulatory framework. As cryptocurrencies play an increasingly important role in the global financial sector...
A federal court in Illinois has ordered cryptocurrency hedge fund Jafia LLC and its owner, Sam Ikkurty, to pay $84 million to settle allegations of "Ponzi-like" cryptocurrency fraud by the Commodity Futures Trading Commission.