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Assemblymember Timothy Grayson introduced the Digital Financial Assets Law to protect Californians from financial hardship and foster responsible innovation. Go to Source Powered by WPeMatico
The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blockchain. The project, which will use the Tezos blockchain and has the assistance of Oxhead Alpha, a crypto dev company, aims to allow users to transfer titles as NFTs in the future. … Read more
The commodities regulator has begun the process of getting a court ruling on the Ooki DAO case after the latter failed to respond to the lawsuit by the deadline. Go to Source Powered by WPeMatico
On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting “energy-intensive” cryptocurrency mining operations. The bill introduced by senator Ed Markey (D-MA) alleges that crypto mining “strains the grid” and the industry “undermines U.S. climate goals.” 3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and … Read more
On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further likened the former FTX CEO Sam Bankman-Fried’s (SBF) crypto empire … Read more
In an effort to help consumers “avoid the hype, [and] get the facts,” Rob Bonta has created a page on crypto buying dominated by lists of scams, red flags and other unpleasantness. Go to Source Powered by WPeMatico
After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of crypto asset platform FTX.” California’s … Read more
The California DFPI announced it will open up an investigation as to the “apparent failure” of FTX and says it takes this oversight very seriously. Go to Source Powered by WPeMatico
Elon Musk previously won a similar class-action lawsuit brought by Tesla employees, calling the case “trivial.” Go to Source Powered by WPeMatico
Recent cases involving crypto fraud serve as a timely reminder to do your own due diligence until regulators take more action. If something sounds too good to be true, it probably is. Go to Source Powered by WPeMatico
