United States

Crypto is ‘top of mind for voters’ in US swing states — Harris Poll

May 7, 2024 Coin Telegraph

A majority of respondents with crypto-positive views said they intended to vote in 2024, where tight elections in certain states could swing to either political party.

A survey conducted by the Digital Currency Group (DCG) and The Harris Poll suggested that voters’ positions on digital assets could be a key issue in the 2024 United States elections.

In an online poll conducted in April with 1,201 registered voters, more than two-thirds of those surveyed somewhat or strongly agreed that “crypto is for people like them, and more equitable than the financial system.” More than 90% of respondents in Michigan, Nevada, Ohio, Montana, Pennsylvania, or Arizona said they intended to vote in the 2024 elections, suggesting that crypto could be a critical issue for candidates in swing states.

“[D]igital assets have emerged as a significant issue in the upcoming election,” said Blockchain Association CEO Kristin Smith, referring to the poll. “Additionally, over one quarter (26%) of voters indicate that they are actively weighing political candidates’ positions on digital assets when making their decisions. These data underscore the increasing relevance of our issues in shaping the electoral landscape of 2024.”

Crypto firms to see more enforcement actions within 2 years — CFTC chair

May 6, 2024 Coin Telegraph

CFTC

Rostin Behnam said that “without a regulatory framework,” regulators would continue pursuing crypto firms to protect investors from potential fraud and manipulation.

Rostin Behnam, chair of the United States Commodity Futures Trading Commission (CFTC), expects regulators in the country to continue to crack down on cryptocurrency firms as long as the market attracts interest from investors.

Speaking at the 2024 Global Conference on May 6, Behnam said despite “bad events” in 2022, which caused a market downturn and several companies to declare bankruptcy, the crypto market continues to grow and attract investors and entrepreneurs. He did not specifically say whether the CFTC or Securities and Exchange Commission (SEC) would be behind enforcement actions to protect investors, but both regulators have ongoing lawsuits against many crypto firms.

“We’re going to probably see in the next 6 to 18 months, or 6 to 24 months, another cycle of enforcement actions because of this cycle of asset appreciation and interest by retail investors,” said the CFTC chair. “Without a regulatory framework, without that transparency, without those tools that we typically use, as regulators, you’re going to continue to see this fraud and manipulation.”

BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Charges

May 4, 2024 Bitcoin.com

BTC-e founder pleads guilty in $9 billion laundering conspiracy

May 4, 2024 Coin Telegraph

CFTC Commissioner wants to create AI Fraud Task Force

May 3, 2024 Coin Telegraph

CFTC

Commissioner Kristin Johnson’s remarks came just a day after the CFTC appointed its first chief AI officer.

United States Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson recently advanced three proposals for the regulation of artificial intelligence (AI) technologies as they apply to U.S. financial markets.

Speaking at the Technology Advisory Committee (TAC) meeting held on May 2, Johnson laid out the CFTC’s three-pronged agenda consisting of the establishment of a “principles-based framework” to assess the risks associated with integrating AI into financial markets, heightened penalties the intentional misuse of AI, and the creation of a task force to “evaluate, assess, and harmonize guidance, supervision, and regulation that addresses the increasing integration of AI in financial markets.”

While government calls for the creation of investigatory task forces and common-sense risk assessment platforms are nothing new, Johnson’s assertion that crimes committed with the use of AI should be given “heightened penalties” would pose significant changes to the existing legal framework.