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DOJ recommends harsher sentences AI-enhanced crimes

Using AI to plan, commit, or help cover up a plan could lead to harsher sentencing in the US soon.

The United States Department Justice (DOJ) has asked the United States Sentencing Commission to update its guidelines to provide additional penalties for crimes committed with the aid of artificial intelligence. 

According to a legal alert published by the law offices of White & Case, the recommendations seek to expand well beyond established guidelines and would apply not only to crimes committed with AI, but to any crime aided or abetted by even simple algorithms.

Current guidelines, per the legal alert, only cover so-called “sophisticated” systems. Ostensibly, the new guidelines would make AI involved in criminal activity an accessory, with the legal system punishing the person responsible for its application to criminal activity.

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Crypto Super PACs win big backing candidates in 3 US state primaries

After backing two losing candidates in Arizona primaries on July 30, the crypto-backed Fairshake PAC and its affiliates could claim up to four new victories in congressional races.

News outlets have already called three primary races in Missouri and Michigan, potentially influenced by funds from the Fairshake Super political action committee (PAC) or its affiliates, with a fourth in Washington being also a possible victory.

As of Aug. 7, media outlets reported that Democrat Wesley Bell had defeated incumbent Cori Bush in the party primary for Missouri’s 1st Congressional District, Bob Onder had won the Republican nomination for Missouri’s 3rd, and Shri Thanedar had won the Democratic primary in Michigan’s 13th. At the time of publication, officials were still tabulating votes to determine the winner of the Democratic primary in Washington’s 6th Congressional District.

Fairshake and its affiliates, the Defend American Jobs PAC and the Protect Progress PAC, poured roughly $4 million combined into the four primary races in an attempt to support pro-crypto candidates for the United States House of Representatives or oppose ones who had expressed anti-crypto views. $1.4 million went into a media buy to oppose Bush, $250,000 to support Onder and $1 million to support Thanedar.

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Bitstamp helps Stripe scale crypto purchases in the EU

Bitstamp entered a partnership to support Stripe’s crypto on-ramp solution in Europe a few months after Robinhood announced its $200 million acquisition of the exchange.

Cryptocurrency exchange Bitstamp is collaborating with the fintech platform Stripe to make cryptocurrencies like Bitcoin more accessible in Europe.

Bitstamp announced the partnership on Aug. 7, allowing consumers across the European Union to purchase crypto via Stripe’s fiat-to-crypto on-ramp.

“This provides users with a seamless checkout experience optimized for cryptocurrency conversion and allows near instant settlement of cryptocurrency transactions,” Bitstamp noted in an announcement on X.

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Coinbase brings back Bitcoin-backed loans with Morpho’s DeFi integration

‘Crypto Advocates for Harris’ movement claims support from Mark Cuban

The organization was apparently formed the same day Kamala Harris announced her running mate, Minnesota Governor Tim Walz.

A group of “industry leaders, policy experts, and everyday crypto-enthusiasts” are throwing their support behind Kamala Harris and encouraging the Democratic nominee to develop a straightforward policy platform on digital assets.

In an Aug. 6 X post, the organization ‘Crypto Advocates for Harris’ announced that it planned to hold a virtual town hall with United States lawmakers, policymakers, and industry leaders, including entrepreneur and Dallas Mavericks minority owner Mark Cuban. Cointelegraph reached out to Cuban for comment but did not receive a response at the time of publication.

Cuban has been a Democratic donor in the 2024 election season and is critical of the Republican Party under Donald Trump. He reportedly planned to vote for Joe Biden before the US President announced on July 21 that he did not intend to seek reelection.

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Nasdaq asks to list options on spot Ethereum ETFs — Filing

Exchanges are still waiting on permission to list options on spot Bitcoin ETFs, too.

Nasdaq’s options exchange asked United States regulators to permit options trading on spot Ethereum exchange-traded funds (ETFs), according to an Aug. 6 regulatory filing.

Nasdaq’s proposed rule change would apply exclusively to Blackrock’s iShares Ethereum Trust (ETHA), which is the only Ether (ETH) ETF listed on Nasdaq’s electronic exchange. The others are listed on the New York Stock Exchange’s (NYSE) Arca or Cboe.

The filing marks an important step towards widespread adoption of ETH ETFs, which listed in July and and proceeded to attract approximately $1.5 billion in net inflows, according to Morningstar.

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US private investors predict surge in crypto investments in 2024 — Report

A survey by law firm Barnes & Thornburg found that 59% of US private investors are more likely to invest in crypto funds over the next 12 months.

United States private investors are foreseeing a surge in crypto investment in the coming months, with more than half of them likely to include digital assets in their portfolios. 

A recent survey from law firm Barnes & Thornburg revealed that 84% of participants believe private investment in cryptocurrency will rise over the next 12 months, and more than half (59%) said they are more likely to invest in crypto funds than a year ago.

The survey interviewed 138 limited partners, general partners, and service providers at private equity, venture capital, hedge fund, and investment banking firms active across different industries in the United States.

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Crypto PACs invest $4M in candidates ahead of Aug. 6 primaries

Missouri, Washington and Michigan residents will be able to vote in primaries for specific candidates backed or opposed by crypto interest groups.

After pouring millions of dollars into races to support and oppose candidates from both major political parties, the Fairshake Super political action committee (PAC) and its affiliates await the results as registered voters in Missouri, Michigan, and Washington go to the polls.

On Aug. 6, residents of Missouri, Michigan, and Washington will vote on which Democrats and Republicans will go on to face each other in a November election for seats in the United States House of Representatives and Senate. At the time of publication, the polls had not closed, and no media outlets had announced clear primary winners in any district. Kansas will also be conducting party primaries on Aug. 6, but it did not appear that any crypto-focused candidates were running for House seats.

According to data from the Federal Election Commission, Fairshake spent roughly $1.4 million on a media buy to oppose incumbent Democrat Cori Bush in Missouri’s 1st Congressional District, where she has served since 2021. The Defend American Jobs PAC, a Fairshake affiliate, spent more than $250,000 on a media buy to support Republican candidate and former state senator Bob Onder in Missouri’s 3rd Congressional District after Republican Blaine Luetkemeyer announced his retirement.

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Industry responds to Kamala Harris’ VP pick despite no clear crypto platform

Crypto users recognized that Minnesota Governor Tim Walz was a relative unknown on crypto policy, but many expressed concerns about his general approach to regulation.

Neither Democratic presidential nominee Kamala Harris nor her recently announced vice presidential pick Tim Walz has a clear policy position on regulating digital assets and blockchain, but crypto users and industry leaders have been quick to weigh in on the ticket. 

In an Aug. 6 announcement, Vice President Harris said Minnesota Governor Tim Walz would be her running mate going into the 2024 presidential election, facing off against Republican nominee Donald Trump and his vice presidential pick, Ohio Senator JD Vance. The stark ideological differences between the two campaigns have elicited reactions on social media, with many crypto proponents expressing concerns about the potential impact picking Walz may have on the industry.

“Tim Walz hasn’t yet nailed his colours to the mast in terms of Bitcoin and crypto in general,” said Darren Parkin, editorial director of The Digital Commonwealth, in an Aug. 6 X post. “However, he’s a stickler for regulation. Make of that what you will.”

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Kamala Harris chooses Minnesota Gov. Walz as US presidential running mate

Minnesota Governor Tim Walz has previously advocated for more stringent crypto regulations to ensure the stability of the legacy financial system.

Kamala Harris, the vice president of the United States, has revealed her running mate for the 2024 US presidential election.

Harris has reportedly chosen Minnesota Governor Tim Walz as her vice presidential pick, four unknown sources familiar with the matter reportedly told CNN.

Walz previously served for over 12 years in Congress and is currently in his second term as Minnesota governor.

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Coinbase brings back Bitcoin-backed loans with Morpho’s DeFi integration

Trump cautions current administration not to sell Bitcoin

The former president continues to stress that if the United States does not innovate in the digital asset sector, other countries will.

In a recent interview with streamer and influencer Adin Ross, former president Donald Trump cautioned the current administration against selling the United States' Bitcoin (BTC) holdings.

The 2024 presidential candidate reiterated his stance that if the United States does not innovate on the digital asset front, other countries will, noting that China, the United States' most significant geopolitical rival, is already making advances in the cryptocurrency and artificial intelligence sectors. Trump then turned his attention to praising the virtues of the Bitcoin industry.

The 2024 GOP frontrunner steered the conversation surrounding Bitcoin mining and artificial intelligence toward the energy generation that underpins both activities.

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Coinbase brings back Bitcoin-backed loans with Morpho’s DeFi integration