🚀 Ashigaru Project Launches Mobile Wallet After Samourai Wallet Hard Fork
#AshigaruProject #MobileWallet #SamouraiWallet #OpenSource #Crypto #Privacy #CensorshipResistance #DigitalCommerce #MoneyLaundering #FBI #JusticeDepartment
According to Cointelegraph, on Sept. 20, a group of developers announced the release of a mobile wallet following a hard fork of the Samourai Wallet code. This new initiative, named the Ashigaru Open Source Project, aims to build upon the work of the Samourai team by developing, releasing, and maintaining free and open-source software. The project emphasizes creating solutions with a low technical barrier to entry while ensuring user security, privacy, and resistance to censorship.
The Ashigaru developers highlighted their extensive use of public domain code and contributions from other crypto projects. Their mission statement underscores a commitment to enabling peaceful, voluntary, and private online commerce without tracking, surveillance, or censorship. The development team, identifying themselves as former users of Samourai Wallet, clarified that they have no direct ties to the original Samourai Wallet core development group.
In April 2024, the founders of the Samourai Wallet, Keonne Rodriguez and William Hill, were arrested on money laundering charges by the United States Department of Justice (DOJ). The DOJ accused them of executing over $2 billion in unlawful transactions and facilitating more than $100 million in money laundering. If convicted, they face a maximum sentence of five years in prison for conspiracy to commit money laundering and conspiracy to operate an unlicensed money-transmitting business.
As part of the investigation, the FBI seized the Samourai Wallet's website and servers, and law enforcement officials mandated the removal of the Samourai Wallet application from app stores. Rodriguez pleaded not guilty and was released on a $1 million bail-bond agreement with the United States District Court for the Southern District of New York, with restrictions on his geographic movements until the case concludes.#AshigaruProject #MobileWallet #SamouraiWallet #OpenSource #Crypto #Privacy #CensorshipResistance #DigitalCommerce #MoneyLaundering #FBI #JusticeDepartment
🚀 SEC Prioritizes Addressing 2018 Hinman Speech Amid Market Confusion
#SEC #HinmanSpeech #TokenAlliance #DigitalCommerce #Cryptocurrency #HoweyTest #MarketConfusion #PolicyChange #DeFi #ExchangeDefinition #InvestorProtection
According to Odaily, a recent meeting between the Token Alliance of the Chamber of Digital Commerce and staff members of U.S. SEC Commissioners Hester Peirce and Mark Uyeda highlighted the need to address the handling of the 2018 Hinman speech. The Token Alliance emphasized that this issue should be a top priority for the Corporation Finance division due to its lack of relevance to the Howey Test, which has led to market confusion and an "improper creation of winners and losers."
The SEC's priority list for each department is outlined in a timeline from the first to the 90th day of the new administration under President Trump. This list identifies policy changes that the industry believes could foster a new, more positive relationship between cryptocurrency market participants and the agency. Among the key first-day priorities are initiating a review of all existing crypto-related investigations, Wells notices, and ongoing litigation, with a focus on suspending cases that do not involve actual fraud or harm to investors. Additionally, the withdrawal of SAB 121 and the issuance of a rescission order in the Federal Register are highlighted, along with the formal withdrawal and reconsideration of the proposed amendment to Rule 3b-16, which seeks to expand the definition of "exchange" to include DeFi protocols.
Notably, the Chamber of Digital Commerce expressed satisfaction with the open dialogue with the commissioners' teams, indicating a willingness to engage in ongoing discussions.#SEC #HinmanSpeech #TokenAlliance #DigitalCommerce #Cryptocurrency #HoweyTest #MarketConfusion #PolicyChange #DeFi #ExchangeDefinition #InvestorProtection
🚀 SEC Chair Nominee Paul Atkins Resigns from Crypto Boards Amid Controversy
#SEC #PaulAtkins #Cryptocurrency #ElizabethWarren #DigitalCommerce #TokenAlliance #GovernmentEthics #Lobbying #PublicInterest
According to Odaily, U.S. President Donald Trump's nominee for the U.S. Securities and Exchange Commission (SEC) chair, Paul Atkins, has stepped down from his positions on the boards of the Chamber of Digital Commerce and its Token Alliance. This decision comes amid criticism from Senator Elizabeth Warren, who expressed concerns over Atkins' close ties to the cryptocurrency industry.
Documents submitted to the U.S. Office of Government Ethics reveal that Atkins has also pledged to divest from Off the Chain Capital within 120 days of assuming office. Warren had previously highlighted that the Chamber of Digital Commerce is a registered lobbying group for the cryptocurrency sector, raising questions about Atkins' impartiality and commitment to serving the public interest if confirmed as the next SEC chair.#SEC #PaulAtkins #Cryptocurrency #ElizabethWarren #DigitalCommerce #TokenAlliance #GovernmentEthics #Lobbying #PublicInterest
🚀 Oregon Updates Commercial Code to Include Digital Assets
#Oregon #CommercialCode #DigitalAssets #Cryptocurrency #TokenizedRecords #ElectronicMoney #UCC #LegalFramework #Collateral #SecuredTransactions #ElectronicRecords #ElectronicSignatures #DigitalCommerce #Legislation #Bitcoin #CryptocurrencyRights #BlockchainTransactions #BTC
According to PANews, Oregon Governor Tina Kotek signed Senate Bill 167 on May 7, updating the state's commercial regulations to align with the Uniform Commercial Code (UCC) by incorporating provisions related to digital assets. The new legislation introduces Article 12 of the UCC, establishing a legal framework for cryptocurrencies, tokenized records, and electronic money. It also amends Article 9 of the UCC to allow digital assets to be used as collateral in secured transactions. Additionally, the bill recognizes the legal validity of electronic records, electronic signatures, and hybrid transactions to support digital commerce development. The new regulations include transitional provisions to ensure that transactions conducted before the law's enactment remain legally valid and provide a one-year grace period for existing security interests to comply.
Another cryptocurrency-related bill in Oregon, House Bill 2071, is still in the legislative process and has not yet reached the voting stage. This bill aims to protect the rights to use Bitcoin and other digital assets by prohibiting state and local governments from restricting individuals from accepting cryptocurrency as payment for goods or services and ensuring the legality of peer-to-peer blockchain transactions. Currently, Oregon has not proposed legislation to establish a state Bitcoin reserve, unlike some other states.#Oregon #CommercialCode #DigitalAssets #Cryptocurrency #TokenizedRecords #ElectronicMoney #UCC #LegalFramework #Collateral #SecuredTransactions #ElectronicRecords #ElectronicSignatures #DigitalCommerce #Legislation #Bitcoin #CryptocurrencyRights #BlockchainTransactions #BTC
🚀 Newland Subsidiary Secures U.S. MSB License for Cross-Border Payment Services
#Newland #MSBLicense #CrossBorderPayments #CurrencyExchange #InternationalRemittance #DigitalCurrency #FinancialTransactions #GlobalExpansion #DigitalCommerce
According to BlockBeats, Newland announced that its subsidiary, Hong Kong Xingyi Payment Co., Ltd., has successfully established NovaPay US Inc., a wholly-owned subsidiary, and obtained the U.S. FinCEN-approved MSB license. NovaPay US Inc. has a registered capital of $1 and will operate in areas including currency exchange and international remittance services.
The acquisition of the U.S. MSB license aims to provide legal credentials for conducting cross-border financial transactions, encompassing currency exchange, remittance, and digital currency trading. This move is intended to lay the groundwork for connecting with major global financial institutions and to support the company's global strategic expansion. Newland seeks to contribute significantly to its vision of becoming a leading enterprise in digital commerce.#Newland #MSBLicense #CrossBorderPayments #CurrencyExchange #InternationalRemittance #DigitalCurrency #FinancialTransactions #GlobalExpansion #DigitalCommerce
🚀 U.S. Senate Crypto Market Structure Bill Faces Stalemate Over Stablecoin Yield Dispute
#USSenate #CryptoMarketStructure #Stablecoin #YieldDispute #BankingIndustry #DigitalCommerce #Regulation #GENIUSAct #StablecoinYield #CryptoRegulation #FinancialPolicy
The U.S. Senate's crypto market structure bill has reached an impasse due to disagreements over stablecoin yield provisions. According to PANews, representatives from the banking industry submitted a document titled 'Principles for Prohibiting Yield and Interest' during a meeting at the White House this week, advocating for a complete ban on stablecoin yields, arguing that such yields threaten the core position of bank deposit businesses. On Friday, the Chamber of Digital Commerce released a position paper defending the Senate Banking Committee's draft, which allows for rewards under specific circumstances. The organization expressed willingness to accept a two-year study on stablecoin impacts on deposits, provided it does not lead to automatic rule-making.
Cody Carbone, CEO of the Chamber of Digital Commerce, stated that the industry is prepared to forgo static holding yields that closely resemble bank deposits but should retain reward mechanisms related to customer transactions and on-chain activities, emphasizing this as a significant concession.
The White House has requested both parties to reach a compromise by the end of the month. Patrick Witt, U.S. President Donald Trump's advisor on crypto affairs, mentioned that further talks might be scheduled next week, stressing the need to 'precisely address the narrow issue of idle yields,' as it should fall under the scope of the already passed GENIUS Act.#USSenate #CryptoMarketStructure #Stablecoin #YieldDispute #BankingIndustry #DigitalCommerce #Regulation #GENIUSAct #StablecoinYield #CryptoRegulation #FinancialPolicy
🚀 Amazon Surpasses Walmart as World's Largest Company by Revenue
#Amazon #Walmart #LargestCompany #Revenue #Ecommerce #Retail #DigitalCommerce
Amazon has overtaken Walmart to become the largest company globally by revenue. Bloomberg posted on X, highlighting this significant shift in the retail landscape. This development marks a pivotal moment in the competition between the two retail giants, with Amazon's expansive e-commerce platform and diverse business operations contributing to its rise. The change underscores the growing influence of digital commerce and the shifting dynamics in global retail markets.#Amazon #Walmart #LargestCompany #Revenue #Ecommerce #Retail #DigitalCommerce
🚀 E-commerce Challenges in Consumer Protection
#Ecommerce #ConsumerProtection #OnlineShopping #Regulation #ConsumerRights #DigitalCommerce #EcommerceChallenges
Merchants are taking advantage of the gap between a population new to e-commerce and emerging consumer-protection regulations. Bloomberg posted on X, highlighting the challenges faced by consumers as they navigate online shopping platforms. As e-commerce continues to grow, the need for robust consumer protection becomes increasingly evident. Regulatory bodies are beginning to address these issues, aiming to safeguard consumers from potential exploitation. The evolving landscape of online commerce presents both opportunities and challenges, necessitating a balance between innovation and regulation.#Ecommerce #ConsumerProtection #OnlineShopping #Regulation #ConsumerRights #DigitalCommerce #EcommerceChallenges