CoinEfficiency

Weekly Crypto Highlights: Key Developments and Insights

Discover the latest updates in the crypto world, including regulatory actions, market predictions, and notable events from the past week.
Published on 2022-11-27

Tornado Cash Developer's Detainment Extended

Alexey Pertsev, a key developer behind Tornado Cash, remains in detention amid an investigation into the crypto mixer. The court has ruled to extend his detainment by at least three more months. Tornado Cash has been flagged as a potential tool for money laundering, leading to Pertsev's legal troubles. This situation continues to stir controversy within the crypto community.

Upcoming FTX Hearing and Regulatory Scrutiny

The US Senate committee has scheduled a hearing on December 1st to address the collapse of the crypto exchange FTX. The Commodity Futures Trading Commission (CFTC) head will provide testimony. This hearing is pivotal as regulators intensify their scrutiny of crypto firms, raising concerns about compliance and transparency.

American CryptoFed's Registration Challenges

The Securities and Exchange Commission (SEC) has raised issues with the registration filings of American CryptoFed, putting its status at risk. The anomalies in its documentation have prompted a deeper investigation, underscoring the importance of accurate regulatory compliance for crypto entities.

Market Movements and Predictions

Bitcoin traders are closely monitoring price levels, speculating a possible drop below $14,000. This prediction reflects the current volatility in the crypto market, with investors cautiously navigating the potential risks and opportunities.

Notable Events and Developments

The crypto space witnessed several significant events, including the passing of Amber Group's co-founder, Tiantian Kullander, at the age of 30. Additionally, the HashFlare founders were arrested in a massive $575 million crypto fraud case. In regulatory news, New York has signed a moratorium on Proof-of-Work (PoW) mining into law, indicating a shift in environmental policies concerning crypto mining.

Blockchain and Real Estate

The potential of blockchain technology in transforming voting systems is being explored, with debates on its effectiveness compared to traditional methods. Meanwhile, the trend of buying real estate with cryptocurrency is gaining traction, as more countries become open to digital asset transactions.

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