FameEX Morning Crypto News Recap | April 23, 2024

US Presidential Hopeful RFK Jr Suggests Shifting Entire US Budget to Blockchain

U.S. presidential candidate Robert F. Kennedy Jr. suggests moving the entire U.S. budget to blockchain for greater transparency. He highlighted that this would enable Americans to constantly review every budget detail, ensuring that extravagant expenses, like a $16,000 toilet seat, are visible to everyone.

Crypto Miners in Canadian Provinces Confront Energy Denials and Restrictions

Manitoba extends its ban on new cryptocurrency operations seeking electrical service from Manitoba Hydro. British Columbia (BC) continues its service suspension and embraces a cautious strategy for the future, aiming for a restrictive approach in handling cryptocurrency-related requests.

Biden Calls on Congress to Halt American Bitcoin Mining Industry

The US showcases conflicting attitudes towards cryptocurrency, notably in its handling of Bitcoin mining. Despite endorsing Bitcoin ETFs, authorities aggressively pursue the mining sector, despite its environmentally friendly operations. This inconsistency sparks worries about governmental motives and the future trajectory of Bitcoin mining in the nation.

SEC Lawyers Resign Amid Accusations of Misusing Authority in Crypto Case

After a district court sanctioned the SEC for "gross abuse" and "bad faith" in a crypto case, two recently hired lawyers resigned. Welsh, serving as a trial attorney since December 2022, and Watkins, at the Division of Enforcement since January 2023, stepped down. Their departure sparks concerns regarding the SEC's actions and its impact on cryptocurrency regulation.

Stablecoin and Retail CBDC Sandboxes Integrated into South African Payments Roadmap

The South African Reserve Bank is pushing for accelerated progress towards its 2025 objectives. Despite a robust financial sector, digital payment adoption remains limited among lower and middle-income groups, who heavily favor cash. Challenges such as high user costs, low financial literacy, limited accessibility, and trust issues hinder the transition to digital payments.

SEC Mandates Terraform Labs and Do Kwon to Pay $5.3 Billion in Disgorgement and Civil Fines

After a fraud verdict, the SEC sought $5.3 billion in disgorgement and civil penalties from Terraform Labs and Do Kwon. Filed on April 19 in the U.S. District Court for the Southern District of New York, the motion urged Kwon and Terraform to pay approximately $4.7 billion for disgorgement and prejudgment interest, in addition to $520 million in civil penalties.

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