In brief U.S. prosecutors are seeking forfeiture of approximately $61 million in cryptocurrency. A related wallet network allegedly handled more than $1.5 billion in Iranian oil proceeds. The civil complaint’s allegations remain unproven. Federal prosecutors are seeking forfeiture of approximately $61 million in cryptocurrency allegedly linked to black-market Iranian oil sales, targeting funds they say were intended to finance Iran’s government and military.The civil forfeiture complaint announced Monday alleges that Chinese companies Blessed Trust and Hexa Whale used Binance trading accounts to launder proceeds benefiting Iranian entities, including the Islamic Revolutionary Guard Corps, a U.S.-designated terrorist organization.Myriad: Will Congress pass…

Alan Konevsky, CEO of tZERO“The structural shift toward regulated digital asset markets is already underway, and today’s vote falling short doesn’t change that. Other paths are already being explored, with the SEC and CFTC putting out their own proposed rules and agreeing to coordinate jurisdiction over digital assets. Regardless of the regulatory path, institutions will continue to adopt these protocols over legacy market infrastructure because the secure, regulated infrastructure they need already exists today. ” Frederik Gregaard, CEO of the Cardano Foundation”While today’s outcome is disappointing, the need for regulatory clarity is as urgent as ever. Clear rules are essential…

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