• U.S. government has served Bankman-Fried and its attorneys with 4 million pages of discovery documents
• Rep. Patrick McHenry dubs proposed crypto tax rules as an ‘attack on the digital asset ecosystem’
• Binance removes five sanctioned Russian banks from P2P trading service
US Government Targets Bankman-Fried
The US government has issued 4 million pages of discovery documents to Bankman-Fried and its attorneys, in a move that could have wide reaching implications for the cryptocurrency industry.
Proposed Crypto Tax Rules Labeled Attack on Digital Asset Ecosystem
Rep. Patrick McHenry has labeled the proposed crypto tax rules as an „attack on the digital asset ecosystem,“ saying it is a sign that the government doesn’t understand how cryptocurrencies work or how they can be used for good.
Worldcoin Whistleblower Cuts Ties with Project
A Worldcoin whistleblower has publicly cut ties with the project, citing lack of trust in its management and saying that it „deserves whatever will come next.“ Nate Chastain was also sentenced to three months in prison for insider trading at OpenSea.
Binance Allegedly Maintains Blacklisted Russian Banks Despite Sanctions
Despite sanctions against blacklisted Russian banks, Binance allegedly maintained ties with them according to The Wall Street Journal (WSJ). The news outlet reported that Binance removed five sanctioned Russian banks from its peer-to-peer (P2P) trading service after gaps were pointed out by WSJ.
The US government is taking strong action against entities within the cryptocurrency industry, while Binance appears to be complying with international sanctions against Russia by removing certain banks from its P2P trading platform. With additional regulatory pressure being placed on players within the space, only time will tell how this story develops further.