• The SEC has cautioned accounting firms against accommodating non-compliant crypto clients.
• Sam Altman claims Worldcoin is onboarding eight users per second, but these claims are largely unsubstantiated.
• Prosecutors have withdrawn campaign finance charges against Sam Bankman-Fried.
SEC Warns Accounting Firms Against Accommodating Non-Compliant Crypto Clients
The U.S. Securities and Exchange Commission (SEC) recently issued a warning to accounting firms to not accommodate non-compliant crypto clients for fear of legal repercussions. The SEC’s statement follows reports that digital asset firm Worldcoin was onboarding eight users per second, a claim largely unsubstantiated by the SEC.
Charges Dropped Against Bankman-Fried
In other news, prosecutors dropped campaign finance charges against Sam Bankman-Fried, CEO of digital asset trading platform FTX who previously faced conflict with the Commodity Futures Trading Commission over a series of allegations related to market manipulation and other activities deemed illegal by the government body.
Crypto ‘Rife With Fraud’ Says Gensler
Despite good faith actors in the industry, former Chairman of the U.S Commodity Futures Trading Commission Gary Gensler believes that cryptocurrency is still “rife with fraud; rife with hucksters” according to his recent statements at a congressional hearing on virtual currencies and stablecoins held on July 15th, 2023.
CoinDesk Deal in Final Stages?
Rumors suggest that CoinDesk may be making progress on their $125 million deal announced earlier this year as sources close to the situation report that negotiations are in their final stages of completion and both parties may be closing in on an agreement soon.
Flow Blockchain Resilience Amid NFT Decline
Amidst a global decline in interest towards Non-Fungible Tokens (NFTs), Flow blockchain remains resilient exhibiting impressive growth during Q2 2023 as daily unique active wallets rose 1.5% from Q1 2023 according to data from DappRadar .