The senators took issue both with the Binance founder’s failure to implement anti-money laundering measures at the crypto exchange, and Binance’s ties to the Trump family. https://t.co/hsnXAbldLE ...

Cryptocurrency Market & Regulatory Landscape - The pardon of Binance founder CZ, whose net worth exceeds $85 billion, raises concerns about potential disruption to the US cryptocurrency market and his re-entry into the space [2][10] - CZ pleaded guilty to violating anti-money laundering rules, with Binance ordered to pay over $4 billion in fines [3] - The US government accused Binance of facilitating payments to sanctioned individuals, including Hamas, though Binance denies direct responsibility [13][14][15] - The White House press secretary stated that Biden's war on cryptocurrency is over, and Binance thanked the president for his commitment to making the US the crypto capital of the world [10][11] Political & Financial Dealings - The pardon is linked to CZ's ties to the Trump family's crypto venture, World Liberty Financial, which has received significant financial support, boosting the president's personal wealth [3][4] - A $2 billion deal between the UAE Sovereign Wealth Fund and Binance, facilitated by World Liberty Financial, raises questions about potential transactionalism [9][12][22] - Lobbying efforts around Trump, including a hunting buddy of Donald Trump Jr and a lawyer representing both World Liberty Financial and Binance, played a role in the pardon [8][9] Trade & Economic Policy - President Trump terminated all trade negotiations with Canada due to a disagreement over a TV ad featuring Ronald Reagan criticizing tariffs [1] - The decision to terminate trade negotiations is viewed as driven by grievance and ego, impacting important economic decisions [24][25]

KuCoin has filed an appeal after getting slapped with a $14 million anti-money laundering penalty from a Canadian financial regulator. https://t.co/HyWXde40Bl ...

Regulatory Landscape - UK regulators are drafting new anti-money laundering regulations for cryptocurrency companies [1] - South Korean financial regulators have issued guidelines for virtual asset lending services, banning excessive leverage lending [1] Market Trends & Investment - Tether is in talks to invest in the gold mining industry [1] - Tether currently holds gold reserves worth 87 亿 (8.7 billion) 美元 (USD) [1]

Regulatory Action - Algeria has declared a total crypto ban, encompassing ownership, trading, mining, and promotion [1] - The law classifies crypto assets as financial property, criminalizing their use under anti-money laundering and counter-terrorism regulations [1] - Violators could face up to one year in prison and fines of nearly $7,700, impacting platforms, wallet providers, and promoters [2] Market Impact - The ban aims to protect financial stability and reduce crime, aligning with FATF global standards [3] - Critics suggest the ban could stifle innovation, impacting Algeria's once fast-growing crypto market in the MENA region [3] - Algeria joins a shrinking list of nations opting for total bans, diverging from the regulatory approach adopted by many others [4] Enforcement - Monitoring will intensify, with Algeria's financial and security agencies coordinating enforcement both online and offline [3] - The ban follows prior restrictions in 2018, despite which citizens continued using peer-to-peer methods and foreign exchanges [2]

COMMENT: The law classifies crypto assets as financial property and makes their use a crime under anti-money laundering and counter-terrorism rules.BSCN (@BSCNews):ALGERIA DECLARES TOTAL CRYPTO BAN UNDER NEW AML LAW- Algeria has imposed a sweeping crypto ban, outlawing ownership, trading, mining, and promotion under a law passed on July 24, per Fibladi.- The law defines crypto assets as financial property and treats their use as a https://t.co/u3vISgJlgy ...

Regulatory Compliance & Legal Issues - Binance was fined over $43 亿 (billion) for failing to establish an effective anti-money laundering compliance system [1] - 赵长鹏 (CZ) was sentenced to four months in prison for violating the U.S Bank Secrecy Act (BSA) [1] Leadership & Personal Conduct - 赵长鹏 (CZ) shared details of his prison experience on Anthony Pompliano's podcast [2] - 赵长鹏 (CZ)'s first cellmate was a double murderer who had served 18 years [2]

RT Sander Lutz (@s_lutz95)🚨NEW: This morning, the Senate Banking Committee will hold a hearing on crypto market structure legislation. I’m hearing Elizabeth Warren, top Dem on the committee, will announce she would support a bill if it meets these 5 criteria:“1. Protecting our bedrock securities laws;2. Providing basic investor protections;3. Preserving our financial stability;4. Requiring crypto actors to implement commonsense anti-money laundering and sanctions enforcement programs; and5. Stopping public ...