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Elon Musk is reportedly exploring the application of blockchain technology to enhance government efficiency through his new Department of Government Efficiency (DOGE). Experts believe that implementing public, immutable digital ledgers could significantly improve transparency and accountability in government spending, potentially saving billions and reducing corruption. However, challenges remain, including the need for education among policymakers and resistance from career politicians.
Elizabeth Warren has intensified her campaign against cryptocurrency, urging Treasury Secretary-designate Scott Bessent to implement stringent regulations, particularly in anti-money laundering efforts. She highlighted concerns over crypto's use in criminal activities and proposed that the Treasury adopt tougher measures, including potential jurisdiction over stablecoins. Meanwhile, Warren faced criticism for allegedly exploiting the California wildfire disaster for political fundraising.
CryptoLaw has accused the FDIC of prioritizing sanctions against crypto firms while allowing U.S. companies to send payments to sanctioned Russian banks, as revealed in a class action lawsuit against Deel. This has reignited claims of a systematic effort to debank the crypto industry, reminiscent of Operation Chokepoint. Coinbase's recent FOIA documents suggest the FDIC instructed banks to pause crypto services, a claim disputed by FDIC Chair Martin Gruenberg, who insists the guidance was about discouraging banks from holding crypto assets.
Ripple's ongoing legal battle with the SEC, initiated in December 2020 over allegations of unregistered securities sales of XRP, has seen accusations of unethical tactics from the agency, including harassment of Ripple's CEO. While Ripple has achieved some partial victories, including a recent ruling favoring its retail sales, the SEC's appeal has delayed a final resolution. Changes in SEC leadership could potentially benefit Ripple, but the complexity of the case warrants cautious optimism.
Pro-crypto lawyer John Deaton has volunteered to lead an investigation into "Operation Choke Point 2.0," aiming to uncover potential corruption in government efforts to de-bank crypto firms, emphasizing the broader implications for free enterprise and regulatory overreach. Coinbase's chief legal officer, Paul Grewal, supports this initiative, revealing evidence of the FDIC's coordinated attempts to hinder various crypto activities, calling for congressional hearings to address these actions.
Ripple CEO Brad Garlinghouse has declared the company's previous $11 billion valuation as "outdated," citing that the value of XRP held by Ripple exceeds $100 billion. He criticized the SEC's "abusive" regulatory approach and expressed optimism for new, crypto-friendly regulations under the Trump administration, anticipating a shift in regulatory responsibility to the CFTC. Garlinghouse also noted that 95% of Ripple's customers are now non-US financial institutions, highlighting the company's focus on international markets amid ongoing legal challenges.
Michael Barr, the Federal Reserve's vice chair for supervision, is resigning effective February 28, amid criticism for his role in "Operation Chokepoint 2.0," which allegedly targeted crypto companies. His departure has been welcomed by some in the crypto community, who view him as a barrier to banking services for the industry. Despite stepping down from his supervisory role, Barr will remain on the Federal Reserve Board of Governors and has advocated for responsible stablecoin regulation.
Former U.S. prosecutor John Deaton has proposed leading an investigation into the rumored Operation Chokepoint 2.0, which allegedly aims to restrict banking services for the crypto industry. He expressed concerns over regulatory overreach and its implications for institutional integrity, emphasizing the need for transparency. This proposal follows Deaton's recent loss in the Massachusetts Senate race, where he criticized Senator Elizabeth Warren's anti-crypto stance.
John Deaton, a prominent XRP advocate and lawyer, is rallying support for an investigation into "ChokePoint 2.0," a government initiative aimed at restricting banking access for the crypto industry. He argues that this initiative undermines free market principles and calls for accountability from unelected officials. Deaton's appeal has gained traction within the crypto community, with notable figures and organizations, including Coinbase, backing the push for transparency regarding the FDIC's actions.
John Deaton, a crypto lawyer and XRP advocate, warns investors about sophisticated scams targeting crypto exchange accounts and private wallets. He emphasizes the importance of skepticism towards unsolicited emails, the necessity of two-factor authentication, and the dangers of sharing passwords or seed phrases. Sharing a personal experience, Deaton recounts how he narrowly avoided a scam that compromised his WiFi network, highlighting the need for vigilance in the digital asset space.
John Deaton
People
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