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- Desantis Unveils Anti-CBDC Plan | Binance Challenges SEC & CFTC
Desantis Unveils Anti-CBDC Plan | Binance Challenges SEC & CFTC
Desantis released his Anti-CBDC Bill to much praise and fanfare. The SEC & CFTC Are suing Binance Over Securities and Derivatives
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Desantis separates a CBDC from something like Bitcoin. A CBDC must come from a “Sovereign central bank or government.” They also wisely note that with a CBDC, there is no need for a bank. Why need a bank when everyone is connected directly to the Federal Reserve through an app?
The lawsuit, filed in the U.S. District Court for the Northern District of Illinois on Monday, alleged that Binance operated a derivatives trading operation in the U.S., offering trades for cryptocurrencies including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD), which the suit referred to as commodities. The suit also alleged that the company, under Zhao’s leadership, directed its employees to spoof their locations through the use of virtual private networks.
Warren’s power comes from strategic political decisions in 2020’s Democratic primary. Warren stayed in the primary long enough to kill Bernie Sanders chance of clinching the Democratic nomination, allowing Biden to become 2020’s Democratic nominee. This political play has given Warren an incredibly powerful position in the Biden admin’s network. It is no coincidence that Warren was very close with MIT professor Gary Gensler, who is now the Chair of the SEC.
Featured Podcast/Youtube
In this episode of "Around The Table," hosted by JoshuaJake and Samuel Armes, the guest is John Montague, Managing Attorney at Montague Law. The focus of the discussion is the regulatory landscape for cryptocurrencies and related technologies in the US, with particular attention to the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Analytical Data
Hong Kong to facilitate banking and financing for 💰Bitcoin and crypto firms in attempt to become a global hub - Bloomberg
5 MAJOR BANKS RAIDED over $100 BILLION fraud in France. Banks Raided: - HSBC - Societe Generale -BNP Paribas -Exane -Natixis
Microstrategy: Acquired 6,455 💰 Bitcoins for Approximately $150.0 Million, at an Average Price of $23,238 Per Bitcoin. MicroStrategy said it now holds 138,955 BTC acquired for approxiamtely $4.14 billion at an average price of $29,817.
Like American cos, European cos had been building their own credit buffers borrowing from banks while banks were still willing to loan. That's over now. Again, at the same time curves shifted to huge inversions, suddenly lending to NFCs dried up.
All this collateral demand shows how the global monetary tide is still rolling back and it is likely to keep revealing all those who have been swimming naked. Credit Suisse or SVB were just the most obvious and closest to shore.
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