Black Friday is an unofficial “shopping holiday” that traditionally takes place the day after Thanksgiving Day in the United States. While the tradition originated in the U.S., it has since spread to all corners of the Earth and always takes place on the fourth Friday of November. The event involves retailers across the country slashing prices on a variety of goods in a bid to kickstart the Christmas shopping season. Due to the multitude of discounts on offer, the day has become the busiest shopping day in the United States, with many stores opening at midnight and facing hordes of …

Stock and cryptocurrency trading platform Robinhood has withdrawn its bank charter application with the Office of the Comptroller of the Currency. As CNBC reported on Nov. 27, Robinhood voluntarily decided to withdraw its application with the regulator due to the challenges the company could face in receiving a charter. A spokesperson said that “Robinhood will continue to focus on increasing participation in the financial system and challenging the industry to better serve everyone.” Robinhood applied for a bank charter with the United States Office of the Comptroller of the Currency in April, asserting that it would be the first step …

Kraken, one of the largest and oldest Bitcoin (BTC) exchanges in the world, has joined the Silvergate Exchange Network (SEN). By joining SEN, the United States-based cryptocurrency exchange enables its clients to deposit and withdraw U.S. dollars from Silvergate accounts with no fees, the firm announced Nov. 27. According to the announcement, the depositing process will be different based on whether Kraken users have a Silvergate account. If they have an account at Silvergate, Kraken users will simply have to enable SEN funding on their Kraken account before using the option. Those who do not have a Silvergate account will …

In the latest chapter of Telegram's legal battle with the United States Securities and Exchange Commission (SEC), the firm’s founder Pavel Durov will give a deposition along with two Telegram employees. On Nov. 25, District Judge P. Kevin Castel of the New York Southern District Court ruled that the deposition will take place on Jan. 7 or 8, 2020, at a location agreed upon by the relevant parties. Ilya Perekopsky, vice-president of Telegram, will testify as well. Perekopsky’s deposition is set for Dec. 16, 2019. The deposition of Shyam Parekh, a Telegram employee engaged in the $1.7 billion Gram (GRAM) …

A former executive of a Hollywood-based digital marketing firm has admitted to embezzling $22 million from his employer to buy digital currency. The United States Attorney’s Office of the Central District of California announced on Nov. 22 that Dennis Blieden had pleaded guilty to wire fraud and identity theft. Blieden embezzled over $22 million from his employer and used the stolen funds to buy cryptocurrency, gamble and cover personal expenses. Abuse of authority At the time, Blieden served at StyleHaul Inc., a digital marketing agency that represents “influencers'' on social media platforms, as the controller and vice president of accounting …

The chairman of the United States Commodity Futures Trading Commission (CFTC) has called for “principles-based regulation” for cryptocurrencies. Heath Tarbert, who assumed his post following former Chairman J. Christopher Giancarlo in July 2019, stated that taking such an approach in regulating digital assets would allow a period of development and observation before it may be appropriate to adopt more targeted rules. Tarbert delivered his remarks on crypto regulation in an op-ed published on the CFTC website Nov. 19. In the statement, Tarbert emphasized that the term “principles-based regulation” does not imply a light-touch approach or deregulation, stating that it is …

The New York Southern District Court has ruled in favor of the United States government to intervene in a civil case against Jon Barry Thompson, who is alleged of a $7 million Bitcoin (BTC)-related fraud. With Judge Loretta A. Preska’s ruling on Nov. 19, the U.S. government — in this case, represented by the Commodity Futures Trading Commission (CFTC) — now has the right to intervene in civil proceedings that are running parallel to a criminal multimillion Bitcoin scam case. Thompson, a resident of Easton, Pennsylvania, is charged with “knowingly or recklessly making false representations to customers in connection with …

The United States Federal Emergency Management Agency (FEMA) is exploring the idea of a blockchain-based property registry to streamline disaster insurance payouts. In its latest National Advisory Draft Report to the FEMA Administrator, the agency indicated its interest in deploying blockchain technology in order to streamline disaster insurance payouts and improve the speed of disaster responses. To achieve this, FEMA recommended the establishment of a blockchain-based property and land registry, containing all critical information needed to file an insurance or disaster assistance claim. Cutting the rate of self-insurance for public infrastructure FEMA suggested that such a registry would not only …

Crypto exchange Bittrex will give frozen holdings back to its Iranian users, which the exchange suspended two years ago due to the requirements of United States’ regulators. Bittrex’s Iran-based users began receiving letters from the exchange that promise to return them the funds frozen back in 2017, according to a Nov. 8 tweet published by Bittrex user Ziya Sadr. At the time, the U.S. Treasury Office of Foreign Control (OFAC) required that Bittrex disable Iranian users’ accounts as it was not permitted to operate in countries sanctioned by the U.S. Under special conditions In the letter, Bittrex revealed that it …

Canadian blockchain research firm Blockchain Venture Capital Inc. (BVCI) has officially launched a United States dollar-pegged stablecoin, the CUSD, according to a press release published on Nov. 11. The new USD-anchored stablecoin comes four months after the firm launched CADT, a stablecoin initiative pegged to Canada’s national fiat currency. CUSD is pegged 1:1 to USD As reported, BVCI debuted CADT stablecoin in conjunction with last Canada Day on July 1. With one CUSD equivalent to one USD, the new stablecoin is expected to be used by people and businesses, and specifically targets cross border transactions between the U.S. and Canada, …

U.S. Representatives Patrick McHenry (R-NC) and Warren Davidson (R-OH), have encouraged Bitcoin (BTC)-powered innovation on the Bitcoin white paper’s 11th birthday. U.S. policymakers should not attempt to deter Bitcoin’s tech U.S. congressman McHenry, who represents North Carolina’s 10th District, urged that American authorities should not stifle the new technology in a tweet on Oct. 31. According to the official, policymakers should facilitate the development of new technologies. McHenry reiterated his previous bullish sentiments about Bitcoin, stating: “The world that Satoshi Nakamoto envisioned, and others are building, is an unstoppable force. As policymakers, we should not attempt to deter this technology, …

Over the past few months, Libra, Facebook’s prospective global digital currency, has stolen much of the spotlight across many areas of the cryptosphere. The field of blockchain lobbying was no exception: From Mark Zuckerberg smooth-talking powerful officials into supporting his global initiative to an expansion of the impressive roster of corporate lobbyists summoned to advocate for it, Libra has been dominating the recent coverage of government–crypto industry relationships. Related: How Facebook Libra Is Seeking Compliance, but May Not Launch by 2020 Meanwhile, these much-publicized efforts undertaken by the social media giant are only the tip of the iceberg that is …