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  • 12/12/23: Elizabeth Warren Is The Grinch 👹🇸🇻🌪️

12/12/23: Elizabeth Warren Is The Grinch 👹🇸🇻🌪️

Author

Valko
December 12, 2023

Top News

  1. Sen. Elizabeth Warren launches new bill to crack-down on crypto

  2. El Salvador approves world’s 1st Bitcoin Bonds, launching Q1 2024

  3. Presidential candidates discuss Tornado Cash legislation in detail

Insights

1. Sen. Elizabeth Warren launches new bill to crack-down on crypto

⌐◪-◪ → The crypto industry is triggered over Sen. Elizabeth Warren’s proposed crypto bill, and rightfully so, as it would effectively ban crypto in the United States.

Specifically the bill would require KYC checks for open source wallets, individual miners, and node operators - among other vague and controlling provisions.

On the bright side, Elizabeth Warren is one of the worst legislators of all time; she’s introduced 305 bills in her career and 0, yes ZERO, have become law.

2. El Salvador approves world’s 1st Bitcoin Bonds, launching Q1 2024

⌐◪-◪ → El Salvador just approved Bitcoin “Volcano Bonds”, which are designed to help pay down sovereign debt and fund the construction of the country’s proposed “Bitcoin City”.

This approval marks the beginning of a new epoch in global capital markets, it’s truly history in the making.

The bonds are set to be offered on Bitfinex securities and will go live in early 2024.

3. Presidential candidates discuss Tornado Cash legislation in detail

⌐◪-◪ → During Coinbase’s Stand With Crypto Event, Vivek Ramaswamy said the Tornado Cash sanction was illegal and unconstitutional.

Specifically, he compared code to a “form of free speech”, which is not just an idea, but something with real historical precedence.

Love him or not, Vivek is certainly dominating crypto and internet culture, even after he got caught peeing with his microphone on while talking with Elon Musk on X Spaces.

Peripheral Vision

⛓️ Crypto & DeFi

  • Coinbase launches institutional smart contract management platform

  • Binance’s market share drops from 55% to 30% in December

  • StarkWare distributing $3.5M to devs in new 'Devonomics' Program

  • Google Cloud to run validator on crypto gaming network XPLA

  • Seamless protocol issues SEAM, 1st BASE token listing on Coinbase

  • Pi Network debuts 'decentralized moderation' on fireside forum app

  • Synthetix to end SNX token inflation, shifting to buybacks and burns

  • Aptos unlocks nearly 25 million APT tokens, worth over $200 million

  • Nym, Protocol Labs, Oasis, and Aztec form new web3 privacy alliance

🏛️ Legal & Regulatory

  • KuCoin Settles with New York Attorney General for $22M

  • FTX disputes IRS's $24B 'Alice in Wonderland' tax claim

  • Sen. Elizabeth Warren adds 5 co-sponsors to her anti-crypto

  • Bitcoin inscriptions added to US National Vulnerability Database

  • BlackRock & Fidelity hash out sBTC ETF redemption models with SEC

  • World’s 1st BTC Bonds receive regulatory approval in El Salvador

  • CTFC chair says most crypto are commodities under current laws

🌎 Rest of the World

  • South Korean regulators propose crypto consumer protection rules

  • Taiwan completes wholesale CBDC technical study

  • FCA slow to to take crypto enforcement action according to NAO

  • China to verify citizen’s identities with new blockchain-based platform

  • Do Kwon’s custody in Montenegro is reportedly extended by 2 months

🖼️ NFTs & Metaverse

  • PIXEL token airdrop will not be a surprise according to Pixel’s founder

  • Gordon Gonner addresses rumors about his return to Yuga Labs

  • Yuga Labs denies new paid mint for Legends of the Mara (LOTM)

  • FIFA launches World Cup NFTS on Polygon in return to NFTs

  • XCOPY launches burn-to-mint mechanic for MAX PAIN holders