#crypto

American Senators Elizabeth Warren, Roger Marshall, Joe Manchin, and Lindsey Graham have once again introduced a proposal to tackle money laundering through cryptocurrencies. The Institute of Banking Policy wasted no time and promptly voiced its support for this bipartisan legislation, which seeks to tighten regulations on digital assets to ensure they fully comply with existing financial system rules

The venture capital fund has reduced its funding for crypto projects from $585 million to $200 million. Moreover, it's halved investments aimed at backing individual investors. "We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners," commented representatives from Sequoia Capital.

The body of Spanish crypto influencer Fernando Perez Algaba was tragically discovered in Argentina. He had been declared missing since last Tuesday. On July 23, children in Ingeniero Budge found a suitcase containing his amputated limbs. The police subsequently found his torso on the next day, and his head was located in a backpack on July 25. The motive for murder was related to his debts. A note left by Algaba’s explained that he had lost a significant amount of money invested in cryptocurrencies.

The United States House panel has approved two bills that could provide regulatory clarity for crypto firms, addressing the jurisdictional differences between the U.S. securities and commodities regulators. The Republican bill introduces a process for firms to certify with the SEC that their projects are decentralized, enabling them to register digital assets as digital commodities with the CFTC. The bipartisan Blockchain Regulatory Certainty Act aims to remove hurdles and requirements for “blockchain developers and service providers” such as miners, multisignature service providers, and decentralized finance platforms. Congressmen praised the passing of these bills as a “huge win” for the United States.

The National Crime Agency (NCA) is actively recruiting financial investigators with a crypto-edge. To do that, you have to be an accredited financial investigator (AFI), possessing skills in blockchain analysis, and comprehending pertinent legislation.

Michael and Amanda Griffis are in hot water with the Commodity Futures Trading Commission (CFTC) as the agency alleges the couple pulled off a grand-scale fraud. Operating under the auspicious name "Blessings of God Thru Crypto," they enticed over 100 individuals to contribute to their digital assets commodity pool. Accumulating over $6 million, the couple promised high returns and security for the pooled resources. According to CFTC, these pledges were not only empty but the pooled funds frequently ended up mingling with the Griffis' personal finances.

Bankrupt crypto firms FTX and Genesis have reportedly reached a preliminary agreement to settle outstanding issues. The companies have agreed to void all mutual claims. This development was revealed in a letter sent to Bankruptcy Judge Sean Lane on July 27. The final decision and terms of the agreement, however, need to be officially approved by the court.

Brian Armstrong has publicly urged US residents to actively support the 21st Century Financial Innovation and Technology Bill, which promises to bring much-needed clarity to cryptocurrency regulation. Armstrong emphasized that it is ordinary Americans who can have a decisive impact on the outcome of the vote by sending an email to their representatives asking them to support the bill. In a more detailed statement, Coinbase added that the bill, in addition to protecting consumer rights and enhancing national security, has the potential to spur job creation in the US.

U.S. lawmakers are reportedly close to creating a framework for regulating stablecoins, but a separate bill overhauling financial laws' treatment of crypto assets is facing opposition from Democrats who deem it too favorable to the crypto industry. Top Democrats, including Rep. Maxine Waters, have expressed their disappointment with the market structure bill. Meanwhile, Republicans remain optimistic that ongoing negotiations may lead to agreement on stablecoin legislation.

The UK's data watchdog is setting its sights on Worldcoin, Sam Altman's initiative offering free crypto for iris scans. With digital ID on one side and cryptocurrency on the other, it's caught the Information Commissioner's Office's attention. "We note the launch of WorldCoin in the UK and will be making further enquiries," a spokesperson for the ICO says.