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Last Updated : August 09, 2022 / 08:52 AM IST
Top Cryptocurrency News On August 9: Truth in Advertising demands Snoop Dogg, Paris Hilton, other celebs disclose NFT connections<!– Moneycontrol Daily | Your Essentials 7 –>
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.
Market Buzz
Bitcoin up marginally, Ethereum gains 3%
Big Story
New guilty plea in BitMEX crypto exchange laundering case
The first employee of BitMEX pleaded guilty on Monday to violating U.S. bank secrecy laws by failing to establish an anti-money laundering program, following guilty pleas to the same charge by the cryptocurrency exchange’s three co-founders. Gregory Dwyer, 39, of Australia and Bermuda, entered his plea before U.S. District Judge John Koeltl in Manhattan. He also agreed to pay a $150,000 fine. (Reuters)
NFTs
Consumer Watchdog Group Demands Snoop Dogg, Paris Hilton, Other Celebs Disclose NFT Connections
The consumer watchdog group Truth in Advertising (TINA) said it put seventeen high-profile celebrities on notice on Monday for promoting NFTs without appropriate disclosures. TINA says it sent letters to prominent figures who have promoted NFTs on social media, including Gwyneth Paltrow, Eva Longoria, Floyd Mayweather, Tom Brady, DJ Khaled, Snoop Dogg, and Paris Hilton. Targeted NFT collections include the Bored Ape Yacht Club, World of Women, and Autograph collections. Other celebrities the group sent letters to include Jimmy Fallon, Eminem, Logan Paul, Floyd Mayweather, and Gwyneth Paltrow, as reported by Decrypt.
Crypto Regulations
Crypto-Mixing Service Tornado Cash Blacklisted by US Treasury
The Treasury Department has banned all Americans from using decentralized crypto-mixing service Tornado Cash. The Office of Foreign Assets Control (OFAC), a watchdog agency tasked with preventing sanctions violations, on Monday added Tornado Cash to its Specially Designated Nationals list, a running tally of blacklisted people, entities and cryptocurrency addresses. As a result, all US persons and entities are prohibited from interacting with Tornado Cash or any of the Ethereum wallet addresses tied to the protocol. Those who do may face criminal penalties. [Coindesk]
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