Crypto News

A fellow at crypto think tank Coin Center filed suit against U.S. Attorney General Merrick Garland on Thursday, seeking a judge’s guarantee that the Department of Justice (DOJ) will not be able to prosecute his forthcoming crypto project for violating money transmitting laws in the future.The lawsuit, filled by blockchain entrepreneur Michael Lewellen, claims that the Department of Justice’s (DOJ) criminal prosecution of software developers who publish noncustodial cryptocurrency software – including the ongoing prosecutions of Tornado Cash developer Roman Storm and Samourai Wallet co-founder Keonne Rodriguez – is unconstitutional, and violates the First and Fifth Amendments.In addition to being unconstitutional, the suit claims, the DOJ’s prosecution of crypto developers “betray its own representations to the public,” that, unless developers have “total...

Republican U.S. Senator Cynthia Lummis took aim at two federal agencies on behalf of the crypto industry this week, just days before the wide-reaching transition of the federal government when President-elect Donald Trump again takes office.Lummis warned the U.S. Marshals Office to slow down its crypto asset sales and she cautioned officials at the Federal Deposit Insurance Corp. that anybody who gets rid of evidence about whether the agency directed banks to drop digital assets clients will be prosecuted, touching on two of the sector's most prominent issues.Keeping the idea of a U.S. bitcoin reserve top-of-mind as a new Congress starts work and Trump returns to the White House next week, the Wyoming Republican sent a letter this week to...

Ripple-linked asset XRP surged to a fresh seven-year-high price Thursday, coming within two cents of its 2018 peak.Source link

This week, Senator Cynthia Lummis raised concerns about the U.S. Marshals Service’s management of seized bitcoin, calling for transparency and questioning the decision to liquidate nearly 70,000 BTC, worth billions. Government Bitcoin Sale Questioned by Wyoming Senator In a letter addressed to U.S. Marshals Service Director Ronald Davis, Senator Cynthia Lummis scrutinized the agency’s trackSource link

Dear President-Elect Trump,In your keynote address at the Bitcoin conference in Nashville last year, you pledged to make the United States the crypto capital of the world if re-elected for a second term. As you return to the presidential office this Monday, we write to you as practicing members of the crypto law bar to recommend regulatory policies that will help you to achieve that goal.The United States, which rests on the same foundation of personal liberty as crypto, is naturally positioned to lead the world in its development. Unfortunately, U.S. regulators have until now refused to adapt existing laws to digital assets and the blockchains that underpin them (or even to explain why not), and created an unfavorable business...