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US court approves settlement against Binance, firm to pay $2.7B to CFTC

Former Binance CEO Changpeng “CZ” Zhao has been ordered to pay $150 million, while Binance will pay $2.7 billion to conclude the CFTC enforcement action.

Coinbase appeals SEC rulemaking petition denial as promised

Coinbase filed an appeal the same day its petition for a rulemaking on crypto used as a security was denied.

UK plan on digital securities sandbox laid before Parliament

The regulations will take effect on Jan. 8, with the Bank of England and the U.K. Financial Conduct Authority operating the sandbox.

The Pope and US regulators warn about AI risks: Law Decoded

The head of the Catholic Church warned humanity of AI’s potential dangers and explained what needs to be done to control it.

Revolut Business reportedly cuts crypto services ahead of new UK rules

The neobank will halt crypto purchases by businesses while it sorts out new ad requirements.

Former LDO holder files class-action lawsuit against Lido DAO for crypto losses

The investor claimed that 64% of LDO tokens are controlled by just a few venture capital firms, preventing ordinary investors from having any control over decisions.

EU Commission targets X over ‘dissemination of illegal content’

X owner Elon Musk told advertisers to “go f--- yourself” on Nov. 29 after many left the social media platform in response to antisemitic content and a report on hate speech.

Warren’s surveillance legislation is tailor-made to help big banks

Warren’s Digital Asset Anti-Money Laundering Act would shut crypto providers down, playing into the hands of the banking industry.

Ripple, Coinbase, a16z invest $78M in pro-crypto PAC ahead of US elections

Prominent cryptocurrency companies and investors intend to support pro-cryptocurrency candidates during the 2024 U.S. election cycle.

FTX loses $53K every hour on ‘bankruptcy fees,’ latest filings show

More than $118 million in legal and advisory fees were billed to the bankrupt crypto exchange between August and October, amounting to $1.3 million per day.

FTX debtors will assess values of crypto claims based on petition date market prices

In a revised Chapter 11 plan of reorganization, FTX debtors state that crypto claims by customers will be assessed using a conversion table, with valuation based on the petition date.

BlackRock revises BTC ETF filing, El Salvador’s crypto citizenship trending, and more: Hodler’s Digest, Dec. 10-16

BlackRock updates its Bitcoin ETF application to enable banks, demand for El Salvador’s crypto-linked citizenship, and Sam Bankman-Fried’s attorney interview.

Tether responds to US lawmakers’ calls for DOJ action

Tether has reacted to lawmakers' requests for DOJ action over its stablecoin use, claiming it wants to be a "world class partner to the U.S."

SEC accused of ‘gaslighting’ in Coinbase rulemaking dispute

Pro-XRP lawyer John Deaton said that the SEC’s stance in the Coinbase rulemaking dispute directly opposes the SEC chair’s statements during his congressional testimony earlier in 2023.

Ripple’s Legal Chief predicts crypto landscape shifts in 2024

Stuart Alderoty predicts the possible resolution of Ripple’s SEC lawsuit in 2024 and lawmakers on Capitol Hill agreeing on the need for crypto regulations.

Taiwan officials launch inquiry into crypto betting on election results: Report

Several Taiwanese residents were reportedly using the decentralized betting platform Polymarket, the same platform that saw record-breaking trading volumes during the 2020 United States election.

Kazakhstan central bank reviews digital tenge pilot successes, next steps

The digital tenge has been used for everything from free school lunches to tokenizing gold, and there’s more to come.

SEC responds predictably to Coinbase’s 2022 crypto rulemaking petition: No

The existing laws are sufficient, according to Chair Gensler. Coinbase says it's not done yet.

Watchdog group doubles down on Circle-Tron money laundering claims

The Campaign for Accountability released a new open letter criticizing Circle’s Cross Chain Transfer Protocol.

$100K BTC? Don’t undervalue Bitcoin ETF influence, says Adam Back

Resolving recent systemic failures in the cryptocurrency ecosystem and the prospect of spot Bitcoin ETF approvals could drive Bitcoin to $100,000 in 2024.