The situation in the United States is not the easiest, while riots continue, numerous cases of coronavirus have been confirmed, and a tense situation escalated on the eve of the presidential election. Regardless, U.S. regulators are starting to track cryptocurrency more seriously.
Keep reading to find out more about crypto news.
Is Ripple about to leave the U.S.?
Ripple Co-Founder and CEO Chris Larsen said at the LA Blockchain Summit webcast that the company could move its headquarters from the US to another country. In his opinion, all countries except the United States have a positive attitude towards cryptocurrencies.
Early investors sued Ripple for the sale of "unregistered securities" in 2015. This week, the court sided with the plaintiffs, therefore, the company will have several more hearings ahead. If the plaintiffs win, Ripple will have to give the money back to investors, which will affect the entire crypto industry.
The technical director of the crypto exchange, Samuel Reid, was released from prison on $5 million bail, subject to his participation in an online trial.
Former CEO Arthur Hayes and two other executives Greg Dwyer and Ben Delo have left their positions at BitMEX and remain at large. The exchange will continue to operate under a different leadership.
Control over cryptocurrency
The United States considers it necessary to take regulatory action in relation to cryptocurrencies. The U.S. Department of Justice noted:
“..Cryptocurrency is a technology that could fundamentally transform how human beings interact, and how we organize society. Ensuring that use of this technology is safe, and does not imperil our public safety or our national security, is vitally important to America and its allies...”
Representatives stated that they are successfully fighting terrorists, scammers and criminals using traditional currencies, therefore, cryptocurrency transactions must be carried out in accordance with the law.
Australian businessman Craig Wright, who has publicly stated that he is one of the creators of Bitcoin, believes that Bitcoin and the blockchain should not be controlled.
Department of Homeland Security invests in 5 blockchain startups
5 blockchain startups will receive an investment of $817,712 from the US Department of Homeland Security. The allocated funds will be used to develop new applications to prevent forgery of certificates and licenses.
These are 5 candidates selected from 80 participants from around the world.
- MATTR Limited, New Zealand, was awarded $200,000 to digitally issue and validate essential work and task licenses;
- Mesur IO, Inc., USA, was awarded $193,612 to improve food safety through the international supply chain;
- Spherity GmbH, Germany, received $145,000. The startup will improve the e-commerce supply chain and ensure the traceability of packages from online purchase to destination;
- SecureKey Technologies, Canada, received $193,000. The goal of the project is to develop an identifier that is an alternative to the social security number;
- Mavennet Systems, Inc., Canada, received $86,100 to improve the supply of natural gas between the United States and Canada using digital technologies.