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(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
PRO-BITCOIN MATT GAETZ NOMINATED AS U.S. ATTORNEY GENERAL
Matt Gaetz, a Florida Representatives and American lawyer, has been nominated as Attorney General by President-elect Donald Trump. Gaetz was assigned due to his educational and career experience in law.
President-elect Donald Trump nominated Matt Gaetsz, pro-bitcoin and Florida representative, to be the next U.S. Attorney General. Following this nomination, he resigned from the House of Representative on Nov. 13, 2024.
According to the Nov. 13 X post, Trump praised Gaetz as a determined attorney committed to driving much-needed reform at the Department of Justice.
Gaetz expects to prioritize ending weaponized government, strengthening border security, dismantling criminal organizations, and exposing the potential of government c********n and weaponization.
“He is a champion for the constitution and the rule of law. Matt Gaetz will root out the systematic c********n at DOJ, and return the department to its true mission of fighting crime, and upholding our democracy and constitution.”
Elon Musk, recently appointed as head of Department of Government Efficiency (D.O.G.E), replied to his X post, congratulating Gaetz on his new role.
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Matt Gaetz stances on crypto
Earlier this year, on June 25 as a member of Congress Gaetz introduced a bill advocating for Bitcoin to be accepted as payment for Americans for federal income tax. The bill was proposed after he visited El Salvador and aimed to modernize the U.S. tax system.
The aggressive move made would “promote innovation, increase efficiency, and offer more flexibility to American citizens.”
The proposal seeks to amend the Internal Revenue Code of 1986 to accept Bitcoin for tax payment and expand this payment option to other federal services.
Gaetz has also advocated for various crypto deregulations and pushed back against the federal agency’s oversight. He is arguing that the measure would stifle innovation and growth.
His appointment as an Attorney General highlights potential approaches to law enforcement and more flexible regulations within the crypto industry under the Trump presidency.
@ Newshounds News™
Source: Crypto News
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CHINA COULD REASSESS CRYPTO BAN DUE TO TRUMP, HASHKEY CEO CLAIMS
HashKey Group Chairman and CEO Xiao Feng has indicated that China’s stringent stance on cryptocurrencies could soften within the next two years, influenced by the pro-crypto policies expected under US President-elect Donald Trump. Xiao believes that clear regulatory support in the United States could serve as a catalyst for China to reconsider its current ban.
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Why China Could Reconsider Its Crypto Ban
“If the US Congress and the new president establish clear crypto policies and actively promote the industry, it would certainly be a driving force for China to accept cryptocurrencies,” Xiao stated in an interview with the South China Morning Post.
Xiao also pointed to geopolitical factors that might accelerate China’s acceptance of digital assets. The exclusion of Russia from the SWIFT financial messaging system by the US and its allies in 2022 has underscored the importance of alternative financial infrastructures.
This move, part of sanctions related to the conflict in U*****e, may prompt China to explore crypto more earnestly to safeguard its financial autonomy.
“Without these events, China might have needed five or six years to accept cryptocurrency businesses. Now, due to these factors, that timeframe could be shortened to two years,” Xiao explained.
Over the past several years, China has enforced a strict ban on initial coin offerings (ICOs), crypto trading, mining, and other related activities. Authorities have cited concerns over financial stability and the potential for illicit activities as primary reasons for the crackdown.
Despite this, Hong Kong has been permitted to develop its digital asset industry, positioning itself as a potential bridge should mainland China relax its regulations.
Should China decide to re-engage with the digital asset market, Xiao suggests that regulated stablecoins could be the initial focus. “Stablecoins are currently the best solution for cross-border business-to-consumer trade,” he noted.
Supporting this view, HashKey conducted a survey in Yiwu, a major manufacturing and trade hub in mainland China. The survey revealed that nearly all merchants had received inquiries from international buyers about making payments using popular US dollar-based stablecoins such as USDT and USDC.
HashKey Group operates HashKey Exchange, one of Hong Kong’s three licensed crypto exchanges. The company plans to launch its own blockchain, the HashKey Chain, next month.
With over 300 employees in Hong Kong and additional teams in Singapore, Tokyo, Dubai, Bermuda, and Europe, HashKey is expanding its global footprint.
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While the Chinese government has not indicated any immediate plans to relax its crypto ban, Xiao emphasized the importance of maintaining a strong presence in Hong Kong. “Only by staying in Hong Kong can we serve mainland China when that market opens up. We firmly believe that day will come,” he asserted.
@ Newshounds News™
Source: Bitcoinist
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Source: Dinar Recaps
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CRYPTO LEADERS UNITE FOR DESCI: A NEW ERA OF SCIENCE WITH BLOCKCHAIN
▪️ DeSci movement seeks to make scientific research more open, fair, and accessible.
▪️ Prominent figures like CZ, Vitalik, and Brian Armstrong are actively supporting DeSci’s goals.
▪️ DeSci can improve scientific funding, democratize research, and foster greater collaboration within the scientific community.
Decentralised Science is now one of the most sensational topics in the cryptocurrency world. Its goal is to make science more open, transparent, and accessible, while solving long-standing issues such as limited funding and lack of data-sharing in the scientific community.
Some of the biggest names in crypto, including Binance Co-Founder Changpeng Zhao, Ethereum Co-Founder Vitalik Buterin, and Coinbase CEO Brian Armstrong, have publicly supported DeSci.
Let’s explore what this movement is all about.
Crypto Leaders Back DeSci
Reports show that crypto leaders like Zhao, Buterin, and Armstrong believe that DeSci has the potential to transform the scientific world by tackling challenges such as funding shortages and restricted access to research data.
Changpeng Zhao: CZ is particularly interested in solving the funding issue for science. He is looking into how blockchain technology can be used to create new ways to fund research. Blockchain’s transparency and security could open up fresh opportunities for financing scientific projects.
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Vitalik Buterin: According to reports, Vitalik is keen to make the environment of scientific research more d********c in nature. He is likely to promote the usage of tools like quadratic funding and DAOs.
Brian Armstrong: Coinbase CEO Brian Armstrong is also a strong advocate for DeSci. Recent reports reveal that Coinbase has backed ResearchHub, a decentralized platform that encourages open sharing and collaboration in science. Armstrong’s support highlights his commitment to making scientific research more open and accessible.
Changing the Future of Science
The DeSci movement could play a major role in overcoming some of the most pressing issues in science. From funding shortages and data-sharing problems to publishing challenges, DeSci offers innovative solutions that could improve how science is conducted and shared.
With support from influential crypto leaders, DeSci has the potential to transform how scientific research is funded and shared. This is certainly something to look forward to!
@ Newshounds News™
Source: Coinpedia
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TRUMP NOMINATES FORMER SEC CHAIR AS SDNY ATTORNEY
Trump nominates Jay Clayton to lead the highly influential office.
A familiar figure who enforced securities regulations against the crypto industry under the previous T******************n may soon find himself back in power, this time as a chief federal prosecutor.
What’s the Scoop?
Presidential Appointment:
In an announcement to Truth Social followers on November 14, President Elect Donald Trump made public his intention to nominate former Securities and Exchange Commission (SEC) chair Jay Clayton as U.S. Attorney for the Southern District of New York.
Key Enforcer:
Notably, the SDNY jurisdiction encompasses Manhattan; the trial district has long been one of the most active in the United States and often decides matters related to American financial institutions and the prosecution of white-collar crime.
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Bankless Take:
Trump presented himself as crypto’s champion on the campaign trail, but Clayton’s appointment as U.S. Attorney for a key federal prosecutorial district has offended many within the industry.
While crypto participants remain optimistic for the impending T******************n embrace, Clayton’s appointment threatens to increase enforcement actions against blockchain-based issuers of unregistered security products.
This Newshound agrees with Bankless on this appointment!
@ Newshounds News™
Source: Bankless
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US ATTORNEY’S OFFICE FOR THE SOUTHERN DISTRICT OF NEW YORK TO PARE BACK CRYPTO-RELATED CASES: REUTERS
▪️ The U.S. Attorney’s Office for the Southern District of New York has brought a number of high-profile cases, including against former FTX CEO Sam Bankman-Fried.
▪️ The news comes a day after President-elect Donald Trump tapped Jay Clayton to lead that office.
The U.S. Attorney’s Office for the Southern District of New York, a prominent and powerful court that has brought numerous high-profile crypto-related cases, plans to cut back on cases related to crypto, according to one of its top prosecutors.
That doesn’t mean prosecutors there will disregard crypto cases, but fewer people will be working on them compared to 2022, Scott Hartman, co-chief of the securities and commodities fraud task force at the Manhattan Court said during a Practising Law Institute conference on Friday, according to reporting from Reuters.
“You won’t see as much crypto stuff coming out of at least the SDNY in the future,” Hartman said at the conference.
Prosecutors in Manhattan brought several high-profile cases against crypto industry players including against former FTX CEO Sam Bankman Fried and Celsius founder Alexander Mashinsky. Both firms filed for bankruptcy in 2022.
Hartman’s comments come a day after President-elect Donald Trump tapped Jay Clayton to lead that office as Attorney for the Southern District of New York.
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Clayton previously served as chair of the U.S. Securities and Exchange Commission from 2017 to 2020 and led the agency through the initial coin offering boom of 2017-2018. During that time, his office filed several high-profile lawsuits against prominent and lowly crypto projects. Before leaving the SEC, charges were filed against Ripple.
The SEC a*****d the firm of raising $1.3 billion through the sale of XRP, which the agency says is an unregistered security. The case is ongoing after a New York judge gave both parties a partial win and both have filed appeals.
SDNY’s Hartman also said on Friday that SDNY knows that its “regulatory partners are very active in this space.” Both the U.S. SEC and the Commodity Futures Trading Commission have brought numerous cases involving crypto over the years, including against FTX, Binance and other crypto entities.
@ Newshounds News™
Source: The Block
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Source: Dinar Recaps
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