Prison Time, Scam Entity, ETF Attempts, Mini FBI and 20 Crypto Jokes

Crypto News Highlights

This week in the world of cryptocurrency, several noteworthy events unfolded. Crypto.com faced scrutiny for alleged internal token trading for profit. Do Kwon and Han Chong-joon were found guilty of using fake passports and sentenced to four months in prison. Binance made headlines by working on enabling the Bitcoin Lightning Network, issuing a cease and desist notice to Binance Nigeria Limited for being a “scam entity,” and launching a regulated crypto exchange in Kazakhstan. Valkyrie Funds, Invesco, and WisdomTree filed submissions for Bitcoin ETF approvals with the US SEC, following BlackRock’s lead. Deutsche Bank sought regulatory permission to offer crypto custody services, Japan’s crypto exchanges sought higher leverage for retail investors, and Bit2Me raised €14 million in funding.

Regulatory Developments

In terms of regulatory news, the US established a new task force known as the ‘mini-FBI’ to combat crypto-related crimes. The Canadian Securities Administrators warned users about fake regulatory claims made by certain crypto firms. A Russian individual was arrested for sending crypto funds to Ukraine’s armed forces. Coinbase criticized the US SEC’s response to a court mandate, while JPMorgan suggested that the release of the Hinman documents in the Ripple-SEC battle could benefit Ethereum. Berenberg predicted that the SEC would extend its crackdown on DeFi and stablecoins, but a former advisor believes that the SEC’s crypto crackdown could be stopped through legal doctrine.

Global Crypto Developments

On a global scale, the French real estate firm signed a partnership deal with a domestic crypto payment provider. The US Director said that the IMF is actively working on a global concept for central bank digital currencies (CBDCs). The Bank of England’s project revealed that CBDCs could introduce programmability to money. The EU slowed down legislation for the digital euro, while the Chinese city of Quingdao began testing a digital yuan-based public transport payment solution. In terms of mining, Core Scientific filed for bankruptcy, CleanSpark acquired two Bitcoin mining sites, Iris Energy announced expansion plans, Russia pushed for the legalization of industrial crypto mining, Ukrainian investigators discovered an illegal mining farm, and Venezuela’s ban on crypto mining negatively impacted the industry.

Crypto-Related Humor

To lighten the mood, here are some crypto jokes to brighten your day:

Gooood morning, CT! What’s up? You good?
So much price action. Action everywhere.
Be very careful, boss. Very. Careful.
Some basic advice. Share with friends and family.
Just look at those eyes. So ready to throw a large amount of faeces into an apparatus with rotating blades that creates a current of air for cooling or ventilation.
At least it was a new experience.
He’s a catch, Kendall.
Well, look…
Makes sense.
Look at that smile. So unsuspecting… And such a clear sign above…
Business. Just business.
Why won’t they accept my saving them?!
Aaaaand discuss!
Showing your friends your favorite screens.
Give me all the cucumbers. Tx.
Just really, really fast.
The question answers itself.
Hide until the bull returns.
The truth is out there.

And that wraps up this week’s crypto news highlights and humor. Have a great weekend!

Editor Notes: Check out Uber Crypto News for more crypto-related updates!

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