News list for "Illinois"
A spokesperson for Illinois Secretary of State Alexi Giannoulias told CoinDesk that Illinois will soon drop its pledge lawsuit against Coinbase, joining three other U.S. states that recently dropped their lawsuits against the exchange, but declined to comment when asked when the case might be dropped. Illinois is one of 10 U.S. states to file charges against Coinbase in 2023, accusing it of violating state securities laws through a pledge scheme. The Securities Exchange Commission (SEC)...
Illinois Congressman John Cabello introduced HB1844, which proposes the establishment of a strategic bitcoin reserve fund at the state Treasury. The bill, which requires bitcoin to be held in state custody for at least five years before it is allowed to be transferred, sold or converted into other cryptocurrencies, has been sent to the rules committee for final approval by lawmakers.
US Representative Sean Casten, Democrat of Illinois, along with lawmakers Stephen Lynch, Brad Sherman, Bill Foster and others, sent a letter to the Treasury urging it to investigate illicit financing through cryptocurrency mixing services, particularly Tornado Cash. "Despite the sanctions, Tornado Cash remains online and continues to function as a decentralized smart contract," the lawmakers said in the letter. The US Treasury's Office of Foreign Assets Control (OFAC) announced in 2022 that...
On July 13th, in light of a recent court ruling in Illinois classifying bitcoin and ether as commodities, Nigerian stakeholders have urged the Nigerian Securities and Exchange Commission (SEC) to adopt a similar approach in its regulatory framework. As cryptocurrencies play an increasingly important role in the global financial sector...
A federal court in Illinois has ordered cryptocurrency hedge fund Jafia LLC and its owner, Sam Ikkurty, to pay $84 million to settle allegations of "Ponzi-like" cryptocurrency fraud by the Commodity Futures Trading Commission.
