In the wake of the FTX scandal, the feds badly need to appear tough on crypto™. I'm glad they're taking it out on shitcoin casinos rather than open source devs.
But the day will come when these fines will also be applied to open protocol devs like Nostr or CoinJoin, under the narrative that they're running an unlicensed this-or-that.
The reported plans of Binance's CEO stepping down and pleading guilty to AML violations, alongside a $4.3 billion fine, signal a major shift in cryptocurrency regulation. While preserving Binance's operations, the deal excludes SEC settlement and echoes BitMEX's case. Investigations into money laundering prevention and sanction breaches shadow this deal. Notably, Zhao's retained ownership, altered role, and UAE residency add complexity. Binance's ongoing litigation stance with the SEC and CFTC's claims underline the industry's regulatory struggles. This watershed moment hints at a recalibration of crypto oversight globally amid intensified scrutiny and evolving legal landscapes.
https://archive.is/G8utD
thanks brother ✌
Whoa, I thought this was the Bitcoin Bugle again!
This was not on my bingo card
Let's wait if it's not bait
Press conference livestream: https://www.youtube.com/watch?v=_XEVCOhtLac
CZ:CZ:
https://m.stacker.news/5533
I didn't see this coming, I guess stepping down as part of the deal with US Government
wow, didn’t see this one coming
In the wake of the FTX scandal, the feds badly need to appear tough on crypto™. I'm glad they're taking it out on shitcoin casinos rather than open source devs.
But the day will come when these fines will also be applied to open protocol devs like Nostr or CoinJoin, under the narrative that they're running an unlicensed this-or-that.
The reported plans of Binance's CEO stepping down and pleading guilty to AML violations, alongside a $4.3 billion fine, signal a major shift in cryptocurrency regulation. While preserving Binance's operations, the deal excludes SEC settlement and echoes BitMEX's case. Investigations into money laundering prevention and sanction breaches shadow this deal. Notably, Zhao's retained ownership, altered role, and UAE residency add complexity. Binance's ongoing litigation stance with the SEC and CFTC's claims underline the industry's regulatory struggles. This watershed moment hints at a recalibration of crypto oversight globally amid intensified scrutiny and evolving legal landscapes.
4.3 billion fine!! Where are the victims?
" The Justice Department declined to comment."
"A CFTC spokesman declined to comment."
lolz
Never shitcoin folks
Well then. Really thought CZ would take the entire market down with him.
No justice Unless he goes to prison
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They'll likely be selling bitcoin. Dumping all their ponzi tokens might send them to zero. Lol