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Crypto trading with Aperium: Copy, automate, and balance your portfolio. #trade

The founder and CEO of Binance, Changpeng Zhao, announced his departure from the company as part of an agreement with U.S. regulators to settle an investigation. Richard Teng has taken over the position. Binance admitted violations of U.S. anti-money laundering laws and agreed to pay a fine of $4.36 billion. The U.S. Department of Justice cited failures in implementing programs against suspicious transactions with terrorists, including Hamas, Palestinian Islamic Jihad, Al Qaeda, and the Islamic State. Binance allowed transactions in sanctioned jurisdictions. Treasury Secretary Janet Yellen emphasized historic penalties. The company did not admit customer fraud or market manipulation, distancing itself from the FTX case. The agreement aims to preserve the exchange's ability to continue operations amid increasing government scrutiny in the crypto industry.
The nonpartisan funding amendment proposed by Majority Whip Tom Emmer was approved by the House, further overseeing the SEC and its chair, Gary Gensler. Today, the Majority Whip remarked, "[Gary Gensler] is as ineffective as he is incompetent." Thankfully, my bipartisan funding proposal to curb SEC enforcement abuses against the digital asset industry passed the House today without opposition.

This amendment bars the SEC from utilizing taxpayer-funded resources for enforcement actions against the digital asset industry until Congress enacts legislation granting regulatory enforcement authority. Rep. Tom Emmer strongly criticizes the SEC and Chair Gary Gensler for their stringent enforcement of digital assets. The legislation enables Congress to continue fostering the growth and development of the crypto industry. Additionally, Rep. Emmer condemns Gensler and the SEC for not providing clear guidance on their decisions regarding digital asset regulation.

"What's even more troubling is that the SEC lacks congressional jurisdiction over this asset class to begin with," Emmer adds. "Yet, the SEC shamelessly attempts to expand its jurisdiction to regulate the digital assets industry through enforcement."

Emmer's CBDC Anti-Surveillance State Act prohibits the Federal Reserve from directly issuing a CBDC to individuals. This ensures that the Fed cannot transform itself into a retail bank capable of gathering personal financial data on Americans.

#tomemmer #secregulation #congressaction #garygensler #financialregulation #financialfreedom #blockchain #cryptocurrencynews #criptonews
DigiCash, founded by David Chaum in 1989, was an innovative company that played a pivotal role in the development of digital currencies and cutting-edge cryptography. David Chaum, a renowned cryptographer and a trailblazer in digital privacy, had a vision to create a secure and anonymous electronic payment system.

DigiCash's flagship product was "eCash," a digital currency that enabled online financial transactions while ensuring user privacy. The technology behind eCash utilized blind signatures and zero-knowledge proofs to protect individuals' financial information.

While DigiCash's concept was revolutionary and pioneering, the company faced market challenges and ceased its operations in 1998 due to financial difficulties and a lack of widespread adoption. However, DigiCash's legacy lives on in the technologies and concepts that influenced the subsequent development of cryptocurrencies and electronic payment systems, particularly with regard to privacy and security.

Although DigiCash didn't achieve commercial success at the time, its vision for secure and anonymous digital currencies served as an inspiration for many other innovators in the field of cryptocurrencies and blockchain technology. DigiCash's story underscores the importance of exploring new approaches and solutions to the financial and technological challenges of the modern world.
Blockchain is a revolutionary technology that underlies cryptocurrencies like Bitcoin, but it has applications far beyond digital currencies. Essentially, it is a digital ledger or record-keeping system that operates in a decentralized and transparent manner.

The functioning of a blockchain starts with the creation of a new transaction, which is grouped together with other transactions in a block. Each block is then sealed with a unique code known as a "hash" and linked to the previous block in a chain, hence the name "blockchain."

To validate and add a new block to the chain, a complex mathematical problem needs to be solved, a process known as "mining." Miners compete to solve this problem, and the first one to succeed is rewarded with new coins and the right to add the block to the chain. This process ensures the security of the network because any attempt to alter a previous block would require the consensus of the majority of network participants, which is exceedingly difficult to achieve.

Once a transaction is added to the chain, it becomes almost immutable because changing it would require modifying all the subsequent blocks, making it highly secure against fraud and censorship.

Blockchain has found applications in various industries, from supply chain management to property records and even electronic voting, thanks to its ability to create reliable and transparent records of transactions and assets. In summary, blockchain is a technology that promises to transform the way transactions and records are conducted, providing greater reliability and security for a wide range of applications.
SEC Commissioner Hester Pierce, affectionately known as "Crypto Mom," has voiced her conviction that a spot Bitcoin ETF should have been granted approval half a decade ago. She remarked, "The rationale behind the non-approval of a spot Bitcoin ETF has always left me perplexed."

Pierce also recognized Grayscale's triumph as a pivotal milestone within the industry but underlined that the final verdict isn't hers to make. This significant turn of events unfolded on August 29th when the company clinched a victory in its prolonged legal tussle with the SEC. The court determined the regulatory body's rejection of Grayscale's ETF proposal as "unwarranted and arbitrary," as it failed to furnish a cogent explanation for treating akin products disparately. Crypto Mom's standpoint on the issue serves as a poignant reminder of a statement issued in August by former SEC official John Reed Stark, who expounded upon partisan concerns within the commission.

According to Stark's perspective, the divisive landscape encompassing cryptocurrency at the SEC has reached a juncture where only a Republican elected as President in 2024 could potentially deliver the much-needed respite to the crypto sector.

With respect to Hester Pierce, Stark observed, "If Hester Pierce were to assume the role of interim SEC chair, given her long-standing record of dissent and opposition against the majority of SEC actions tied to cryptocurrencies, it is conceivable that most of the U.S. SEC's cryptocurrency-related enforcement and disruptive measures could witness a stark reduction."

Nonetheless, Commissioner Pierce concedes that the agency has been less proficient in its handling of Bitcoin and digital currencies.
#cryptomom #sec #bitcoinetf #bitcoinetfreview #grayscale #cryptocurrency #regulation #cryptoindustry #cryptonews #cryptoregulation #bitcoin #blockchain #bitcoinnews #hodl #investing
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