Headlines of the Week: Cryptocurrency and Technology
In a very busy week for cryptocurrency and technological advancement, we take a look the the major headlines that made the rounds.
BRICS Set to Expand Alliance to Foster it’s Plan of Overthrowing the US Dollar
The BRICS leaders have agreed to expand the alliance by admitting more countries. The Alliance, currently made up of the 5 member states, will admit more countries to help it’s goal of ousting the US Dollar in the international trade scene.
Argentina, Egypt, Ethiopia, UAE, Iran and Saudi Arabia have all been granted the permission to join BRICS by January 2024
US Government Sues Elon Musk’s SpaceX
The U.S. Department of Justice (DOJ) is suing SpaceX for alleged discriminatory hiring practices against refugees and asylum seekers. The lawsuit claims that SpaceX used export control laws as a pretext to limit its hiring to U.S. citizens and lawful permanent residents, a stance the DOJ disputes.
The department’s data reveals that of over 10,000 hires in nearly four years, SpaceX hired just one asylee. The lawsuit seeks back pay for affected individuals, civil penalties, and changes to company policies.
DOJ Arrests Tornado Cash co-founder Roman Storm
Earlier in the week, the two founders of Tornado cash, the Money mixing service were charged by the US DOJ for laundering over $1Billion.
In a related development, Roman storm, one of the co-founders, has now been arrested by US law enforcement agency in relation to the money laundering accusations.
Coinbase Gets a Stake in Stablecoin Operator Circle and USDC Adds 6 New Blockchains
Coinbase is acquiring a minority share in Circle Internet Financial and ending their joint Centre Consortium, which launched the USD Coin (USDC).
Circle will manage USDC’s issuance and governance internally and expand its support to six additional blockchains, totaling 15.
Sam Bankman-Fried will get one day in court to meet with lawyers
In an update related to the criminal case involving former FTX CEO Sam Bankman-Fried, a federal judge has granted permission for Bankman-Fried to have a meeting with his legal team outside of jail for approximately seven hours. The decision was made by Judge Lewis Kaplan in the United States District Court for the Southern District of New York.
Brazil Welcomes Binance Pay: Elevating Crypto Transactions
Binance Pay, the cryptocurrency payment solution provided by Binance, has launched in Brazil, providing local merchants with a convenient method to accept cryptocurrency payments.
This new payment option aims to offer benefits such as attracting new customers, accelerating transaction processing, and lowering transaction costs for merchants in Brazil.
Australian CBDC Could be Useful for Payments, Tokenization, says RBA
Australia’s central bank, the Reserve Bank of Australia (RBA), has concluded its pilot of a central bank digital currency (CBDC) aimed at exploring the potential applications of an e-AUD.
The pilot revealed that a CBDC could be beneficial in various areas, including facilitating complex payments and tokenizing assets. The RBA and the Digital Finance Cooperative Research Centre (DFCRC) released a report on August 23 that not only discussed the use cases where a CBDC could be advantageous but also noted instances where a CBDC might not be the sole solution to achieve the intended use case.
🚀 Exclusive: More top headlines In the News this week:
XRP Overtakes Ethereum in Korea
US SEC Attorneys Richard Best And Robert Moye Withdraw From XRP Lawsuit
EX-COP Charged by SEC for Rugpull
China Launch Blockchain Data hub
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