• Ooki DAO has been ordered to pay a $643K fine after the CFTC won a court victory against it.
• Ex-SEC chair Jay Clayton has endorsed ‘true stablecoins’ and is having ‘blunt conversations’ on crypto.
• Crypto.com is halting its US institutional exchange offering, while two Russians have been charged with laundering 600k Bitcoin.
Ooki DAO Ordered to Pay Fine
The U.S Commodity Futures Trading Commission (CFTC) recently won a court victory against Ooki DAO, ordering the company to pay a $643K fine for fraudulently collecting over $3 million in investments from retail customers.
Ex-SEC Chair Endorses ‚True Stablecoin‘
Jay Clayton, former chair of the U.S. Securities and Exchange Commission (SEC), commented on the agency’s current treatment of crypto in a conversation at Bloomberg Invest on June 8th. He refused to explicitly contest the actions of his successor Gary Gensler and instead endorsed ‚true stablecoins‘. Clayton also noted that during his tenure he was known for being a “crypto hawk” who shut down the “ICO craze“.
Crypto.com Halts US Institutional Exchange Offering
Crypto.com announced that it is halting its US institutional exchange offering due to regulatory requirements set by the federal government but reassured users that their retail services would remain unaffected by this change.
Ethereum Needs 3 Transitions To Ensure Survival
Vitalik Buterin, co-founder of Ethereum, stated that three critical transitions are needed if Ethereum is going to survive: transitioning from proof-of-work consensus algorithm to something more efficient; transitioning from Turing complete computations towards non-Turing complete ones; and transitioning from high transaction fees towards low transaction fees or even zero transaction fees through layer two solutions like rollups or state channels..
Two Russians Charged with Laundering 600k Bitcoin
The U.S Department of Justice has filed charges against two Russian nationals who were accused of laundering over 600k Bitcoin across multiple wallets since 2009 using an unlicensed money service business called BTC-e which operated as dark web marketplace for criminal activities including drug trafficking and ransomware attacks..