• Ooki DAO to pay $643K fine after CFTC’s court victory
• US DOJ charges 2 Russians with laundering over 600k Bitcoin
• Buterin says Ethereum needs 3 critical transitions to ensure its survival
Ooki DAO Fined by CFTC
The U.S. Commodity Futures Trading Commission (CFTC) has won a court victory against Ooki DAO, a decentralized autonomous organization, resulting in the firm having to pay a fine of $643,000. Former SEC Chairman Jay Clayton also spoke recently on the agency’s “blunt conversations” regarding crypto assets and endorsed true stablecoins.
Crypto.com Ceases Institutional Service in US
Crypto.com has announced that it will be halting its institutional exchange offering for customers within the United States due to regulatory restrictions. The platform clarified that retail users would not be affected by this decision and their services will remain available for them as normal.
Ethereum Needs Three Critical Transitions
Vitalik Buterin, one of the co-founders of Ethereum, said recently that the leading smart contract platform needs three major transitions in order to ensure its long-term survival and success: transitioning from proof-of-work (PoW) consensus algorithm to proof-of-stake (PoS); transitioning from an application platform for dApps into a multi-chain ecosystem; and shifting from being “just another blockchain” into becoming an independent economic infrastructure on its own right.
US DOJ Charges Two Russians with Money Laundering
The Department of Justice (DOJ) has charged two Russian nationals with conspiring to launder 647,000 Bitcoin stolen from Mt Gox back in 2011 using BTC-E – a virtual asset platform they set up using funds obtained through their hack of Mt Gox servers. Alexey Bilyuchenko and Aleksandr Verner were accused of using unauthorized access between 2011 and 2014 to transfer BTC to wallets under their control as well as their co-conspirators‘.
Conclusion
This article discussed how Ooki DAO was fined $643K by CFTC’s court victory; Crypto.com halted institutional offering for customers within US; Vitalik Buterin said Ethereum needs three major transitions; and finally DOJ charged two Russians with money laundering over 600k Bitcoin from Mt Gox hack back in 2011 using BTC-E virtual asset platforms they set up with stolen funds