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Taiwan’s high court on Thursday convicted eight people, including military personnel, of espionage for China, with payments allegedly made in cryptocurrency, the Central News Agency reported. The sentences range from 1.5 to 13 years in prison, while one individual was acquitted, and another remains at large. According to the Ministry of Justice’s Investigation Bureau, the … Read more
The Digital Chamber filed an amicus brief on Tuesday in support of Nvidia Corp. It focuses on the implications of the Ninth Circuit’s decision for the cryptocurrency industry. The brief argues that the Ninth Circuit’s approach to pleading standards under the Private Securities Litigation Reform Act (PSLRA) could severely impact emerging technology sectors, especially cryptocurrency. … Read more
Cryptocurrency fund Ikigai Strategic Partners has agreed to pay a $150,000 fine to the National Futures Association (NFA) following allegations of an illicit bitcoin loan, according to an Aug. 20 decision by an NFA hearing panel. The fine addresses the fallout from the industry-wide liquidity crisis triggered by the collapse of crypto exchange FTX in … Read more
India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments, improve financial inclusion, and mitigate risks posed by private digital instruments. The RBI’s … Read more
A Utah woman, Krista Renae Stone, 23, was sentenced to 78 months in federal prison for attempting to orchestrate a murder-for-hire using the dark web, the U.S. Department of Justice (DOJ) announced on Monday. Stone targeted her ex-boyfriend’s new girlfriend, arranging to pay $5,000 in bitcoin to a website offering hitman services between March and … Read more
Seven individuals were arrested in Malaysia during a special operation targeting illegal bitcoin mining in Bandar Baru Salak Tinggi and Taman Putra Perdana. The operation, which involved coordinated efforts by law enforcement, focused on detecting and stopping bitcoin mining activities linked to electricity theft. The suspects, aged between 30 and 74, included three local men … Read more
U.S. President and Republican presidential candidate Donald Trump stated on Monday that if elected, he would consider appointing Tesla CEO Elon Musk to a cabinet or advisory role. Trump praised Musk as a “brilliant” and “very smart guy,” expressing his openness to involving the Tesla boss in his administration if Musk were willing. Recently, Musk … Read more
The New Hampshire Bureau of Securities Regulation has issued a cease and desist order against Finstate Investment LLC, accusing it of defrauding investors via a fraudulent cryptocurrency investment website. Finstate allegedly misrepresented account activity and offered illegal guarantees against losses. A retired New Hampshire resident, persuaded via Facebook to invest $3,526 in cryptocurrency with Finstate, … Read more
Goldman Sachs economists have lowered the likelihood of a U.S. recession within the next year from 25% to 20%, citing recent data on retail sales and jobless claims. If the upcoming August jobs report, scheduled for release on September 6, shows favorable results, the probability of a recession may be further reduced to 15%, which … Read more
UBS reported on Friday that U.S. stocks extended their rally as new economic data, including a 1% rise in July retail sales, eased concerns about a potential recession. Despite the encouraging consumer resilience, UBS cautioned that the risk of a significant economic slowdown remains, especially after weaker July jobs data. Investors are advised to wait … Read more
