Sony Bank has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish Connectia Trust, a national trust bank focused on digital assets. The approval moves Sony Financial Group closer to launching a U.S. dollar-backed stablecoin through its planned American subsidiary. Sony Bank announced that
The U.S. Commodity Futures Trading Commission has commenced a civil action in federal court against Trevor Vernon and Argent Capital Management LLC. According to regulators, the defendants operated an illegal commodity pool engaged in the trading of cryptocurrencies, futures, and options. As mentioned in the complaint, nearly 60 individuals have
The lawmakers continue their efforts in refining the CLARITY Act. It was expected that there would be updates regarding enforcement of the law on July 4. But the Senate did not offer any information on the law, leaving the media and citizens in despair. And, as a part of the
The United States Securities and Exchange Commission managed to secure a major victory in court against NanoBit. The SEC secured the judgment after investigating a long-term cryptocurrency fraud. The judgment follows a long-running case concerning fraudulent cryptocurrency trading schemes operated by NanoBit. The judgment by the United States District Court
U.S. Lawmakers continue to advance digital asset regulations as the Senate moves closer to introducing dedicated cryptocurrency tax legislation. Senator Steve Daines revealed that Republican senators had already developed the framework. During an interview with Bloomberg Tax, Sen. Steve Daines said, “sooner rather than later”. He also said, “We’ve put
U.S. President Donald Trump issued executive orders to improve America’s preparedness for quantum computing advancements in the future. These orders set up strict timelines for federal agencies to upgrade their cryptographic technologies to quantum-resistant technologies. By virtue of Executive Order 14409, the federal agencies will need to enhance certain important
US authorities unsealed the indictment against Jonathan Spalletta, accusing him of carrying out two hacking operations targeting Uranium Finance during April 2021. According to authorities, the defendant exploited weaknesses in smart contracts to steal millions, leading to the shutdown of the decentralized exchange’s operations. US Attorney Jay Clayton said, “Stealing
The United States Department of the Treasury sanctioned a network linked to North Korean IT workers. They were running cryptocurrency fraud schemes across the world. Reports indicate that the operatives secretly acquired remote IT jobs. Then, they redirected their earnings to the North Korean government through these networks. Investigators believe
U.S. prosecutors are seeking a retrial for Roman Storm, the co-founder of the cryptocurrency mixing service Tornado Cash. This comes after a federal jury issued a mixed verdict in the previous trial. The case has received considerable attention in the cryptocurrency industry because it has the potential to set the
U.S. President Donald Trump said that the war between his country and Iran may come to an end soon. This cites that the military operations are progressing faster than expected. The President made these remarks during a phone interview with Weija Jiang, CBS White House Correspondent. In which he was
