Welcome to your daily crypto news digest. Here's what's making waves in the blockchain world today.
The U.S. Department of Justice (DOJ) is reviewing its procedures to determine whether victims of cryptocurrency fraud should be reimbursed based on the value of assets at the time of loss or their current market prices.
This policy reassessment comes after growing complaints from victims, particularly those involved in high-profile cases like the collapse of FTX. These individuals argue that the current rules deprive them of the opportunity to benefit from significant price increases in digital assets that occurred after the fraudulent events.
The outcome of this review could set a precedent for how restitution is handled in crypto-related fraud cases, potentially offering more equitable compensation to victims.
The Attorney General of Oregon has officially filed a case against the cryptocurrency exchange Coinbase. While specific details about the case have not yet been disclosed, this legal action adds to the growing scrutiny faced by Coinbase and other major cryptocurrency platforms in the United States.
This development highlights the increasing regulatory challenges confronting the crypto industry as authorities seek to establish clearer frameworks for compliance and consumer protection.
Further updates on the case are expected as more information becomes available.
Pavel Durov, the founder of Telegram, has dismissed claims made by a French newspaper that his detainment led to Telegram's compliance with European Union regulations. According to Durov, the app has always adhered to EU laws.
In a clarification, Durov explained that the real shift occurred on the part of French authorities. Following his detainment, French officials began following the appropriate legal procedures, which subsequently allowed Telegram to provide IP addresses of criminal suspects to the courts.
This update sheds light on Telegram’s consistent legal compliance and highlights changes in the procedural approach of French authorities.
In a recent statement, former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler expressed optimism about Bitcoin's long-term future. Gensler remarked that Bitcoin "may persist for a very long time," citing its widespread global appeal, which he estimates could attract interest from approximately 7 billion people worldwide.
However, Gensler also issued a cautionary note regarding cryptocurrencies that lack strong fundamentals. He pointed out that such projects "don't end up well," emphasizing the importance of robust underlying value in the volatile cryptocurrency market.
Gensler's comments underline a growing mainstream acknowledgment of Bitcoin's resilience and its potential role as a foundational asset in the digital economy, while also serving as a warning for speculative investments in the broader cryptocurrency space.
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