Patrick McDonnell, the founder of CabbageTech crypto scam has been sentenced to 33 months in prison and a $fine for deceptive business practices.
The week witnessed a number of legal actions against blockchain and crypto criminals, led by the DoJ. IBM, Telefonica and Spain’s CaixaBank led the adoption of blockchain.
Former Bakkt CEO Kelly Loeffler will be part of the legislative committee that oversees the financial regulator.
Across the globe, there have been a lot of positive gains, as well as a few slips, as the Bitcoin space continues to develop.
While the civil penalties for the FY2019 have reduced, the fines and fees are up 39%, with disgorgement fees making up the bulk.
The gov’t believes that the CFTC’s case could interfere with a parallel criminal case against the founder of Volantis Market Making
Circle Society promised the investors that it would generate over 300% profits, but ended up being a Ponzi scheme.
ErisX believes their new futures contracts will help bring institutional investment into the market.
The US Commodity Futures Trading Commission has approved an application by LedgerX to offer physically-backed futures contracts for Bitcoin Core.
A U.S. Commodity Futures Trading Commission committee is working to bring about regulatory changes to cryptocurrencies and distributed ledger technology.
If the blockchain had been in place ahead of the market crash of 2008, it would have been able to help regulators during the crash.