Crypto News

A federal court has ordered Abner Alejandro Tinoco and his company, Kikit & Mess Investments LLC, to pay over $31 million for forex and cryptocurrency fraud. The order includes $6.2 million in restitution, $6.3 million in disgorgement, and an $18.8 million civil penalty. Tinoco and his firm defrauded 199 victims by misusing over $7.2 millionSource link

According to Josh Neuroth, the Vice President of Product at Quicknode, Layer-2 (L2) scaling solutions known as zero-knowledge (ZK) rollups can potentially solve the most pressing issues in blockchain technology. Hence, the buzz around them is “well-founded.” He added that unlike the speculation-driven non-fungible token (NFT) frenzy, interest in ZK rollups is grounded in theirSource link

The Swiss regulator, the Financial Market Supervisory Authority (FINMA), recently published guidance on the issuance of stablecoins. The regulator says stablecoins are not only associated with money laundering risks but pose reputational risks for the entire Swiss financial centre. Stablecoin Issuers as Financial Intermediaries The Swiss regulator, the Financial Market Supervisory Authority (FINMA), has recentlySource link

Worldcoin, the biometric, iris-based ID and universal basic income (UBI) project, has been sanctioned with fines for over $200,000 in the Buenos Aires province. The fines answer to several violations of the National Consumer Defense Law, such as the inclusion of abusive clauses in its terms of service agreement. Also, authorities of Buenos Aires concludedSource link

Senator Tim Scott highlighted bitcoin’s potential to democratize finance and improve financial inclusion at the Bitcoin 2024 Conference. He criticized the Biden administration’s approach to digital assets and endorsed efforts to overturn restrictive SEC guidelines. Scott advocated for balanced regulation that encourages innovation without stifling growth or pushing it overseas. Senator Tim Scott Advocates forSource link