CZ’s resignation: new era for Binance?
Il Department of Justice has scheduled a press conference for the next few hours in which new measures for the crypto sector will be announced, in which the Attorney General will intervene Merrick Garlandthe Secretary of the Treasury Janet Yellenthe deputy attorney general Lisa Monaco and the chairman of the CFTC Rostin Behnam.
The conference is reportedly expected to announce new regulatory measures against cryptocurrenciesbut the nature of the latter is not yet clear, especially whether coercive or not.
What seems certain, as reported by last minute updates, are instead the resignation of CEO Changpeng Zhaoagain relating to the recent vicissitudes relating to the Binance case, as well as the probable agreement reached with DOJ to drop investigationcompared to a 4-5 billion dollar plea deal (Bloomberg, first, indicated to be the focus of the conference). The scenarios, from this perspective, could therefore not be necessarily and completely negative, and would indeed suggest a significant opening of the American authorities towards the industry.
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New problems for cryptocurrencies in the USA?
At this point, it seems unlikely that the new conference has nothing to do with the Binance casebut it cannot be ruled out that it could also touch on other topics.
Some, in fact, would still suggest a probable Tether involvementin recent days involved in fund “freezing” operations to deal with problems such as terrorist financing.
As we had also explored, in fact, just last day Tether declared having frozen approximately $225 million in USDTfollowing an investigation launched by the DOJ itself and in collaboration with the US secret services.
Episodes like that of Kraken and the SEC’s lawsuit, similarly, may be related to the conference, but in this case it does not appear that the agency was involved. On the contrary, it seems that no SEC officials will participate in the event, expected at 9pm Italian time.
2023-11-21 17:44:00
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