Lawyer and cryptocurrency advocate John Deaton has criticized the Lightning Network, stating that the ‘Spend The Bits’ protocol on the XRP Ledger is more effective. The Lightning Network is a second-layer solution built on the Bitcoin blockchain to improve scalability and efficiency. Deaton, who is an angel investor and chief legal officer for ‘Spend the […]
Ripple, a leading blockchain-based payment and liquidity hub provider, is expanding its global presence in response to the growing demand for its services and the development of central bank digital currencies (CBDCs). The company is currently in discussions with more than a dozen governments worldwide to facilitate the issuance of CBDCs using Ripple’s blockchain technology. […]
The U.S. Department of the Treasury is cracking down on crypto mixing services, which are used to obscure the source of funds in cryptocurrency transactions. While these services can have legitimate uses for privacy-conscious individuals, they are also frequently exploited by cybercriminals. The Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a rule to designate […]
Cryptocurrency advocacy group DeFi Education Fund (DEF) has filed an amicus brief to the U.S. Court of Appeals, urging the court to consider the unique aspects of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment. DEF is supporting James Harper’s appeal against the Internal Revenue Service (IRS) in a […]
America’s largest bank, JPMorgan Chase, is facing a lawsuit from a mother and son, Rui Wang and Hengchen Qu, who claim that the bank terminated their accounts and failed to return over $1 million to them. The lawsuit alleges unjust enrichment and breach of contract related to certificates of deposit (CDs) that the plaintiffs purchased […]
Runtime Verification, a security audit firm based in Illinois, has introduced a new universal zero-knowledge (ZK) rollup called PI Squared. This technology, unveiled during the MultiversX xDay conference, aims to revolutionize the verification of computational claims by utilizing mathematical proofs instead of traditional methods. PI Squared will employ a universal proof checker implemented as a […]
Philippines-based crypto exchange Coins.ph is rumored to have suffered a hack that resulted in the potential loss of 12.2 million XRP, equivalent to $6 million. However, some of the funds have already been recovered. The hack reportedly took place on October 17, although Coins.ph has not yet confirmed the incident. On-chain data suggests that the […]
Coinbase’s Chief Legal Officer, Paul Grewal, is optimistic about the approval of a Spot Bitcoin Exchange Traded Fund (ETF) by the United States Securities and Exchange Commission (SEC). In an interview with CNBC, Grewal expressed confidence that the SEC will approve Bitcoin ETF applications because they should be granted under the law. He believes that […]
The U.S. Securities and Exchange Commission (SEC) has dropped its aiding and abetting charges against Ripple’s top executives, CEO Brad Garlinghouse and co-founder Chris Larsen. The charges were related to the SEC’s lawsuit from 2020, which alleged that Ripple issued XRP as an unregistered security. However, the courts recently ruled that the firm’s sales of […]
LBRY Inc., a cryptocurrency platform, has announced its closure following a legal battle with the Securities and Exchange Commission (SEC). The SEC charged LBRY with conducting an unregistered securities offering by selling its native LBC tokens. This case has raised concerns about unequal access to justice and regulatory overreach in the crypto industry, particularly for […]
