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The United States House Committee on Financial Services and the Senate Committee on Agriculture, Nutrition, and Forestry were planning on having a joint hearing entitled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.” The backdrop for this hearing is the pieces of cryptocurrency legislation that the administration has promised, including both stablecoin regulations and market structure legislation. These bills were previously expected within the first 100 days. Read more: Crypto Czar and Republican Congressmen hope for legislation Reporting has suggested division among the Democrats, some of which may even interfere with the hearing, with Representative Maxine Waters reportedly planning on objecting to the joint hearing, with concerns about the president profiting from his many cryptocurrency ventures.  The Democrats reportedly may hold a separate hearing focusing on the  Donald Trump, the Uni...

The Seoul Southern District Court has conducted a preliminary hearing for Terraform Labs’ co -founder Daniel Shin and several other former project employees. Shin, the co -founder of Terraform Labs and former CEO of Chai Corporation, is set to undergo his initial trial on July 10th. His trial, centered around accusations of fraudulent transactions under the Capital Markets Act, will take place within the Seoul Southern District Court’s 14th division. The prosecution alleges that the group of people associated with Terraform Labs strategically misrepresented the project’s success to investors, thereby increasing their confidence and capital investment. The accused then sold off their Luna coin holdings before a significant market crash in May 2022, securing a professedly undeserved profit of 462.9 billion won ($357 million) and allegedly defrauding investors of 376.9 billion won ($291 million). It is claimed that Shin began to sell Luna coins following the launch of t...