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GOP Debate: Where Do the Candidates Stand on Bitcoin?, Feds Charge Tornado Cash Founders In $1 Billion Alleged Crypto Laundering Scheme—Including Millions For North Korea, & more.

Aug 23, 2023

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GOP Debate: Where Do the Candidates Stand on Bitcoin?

Former President and Republican frontrunner Donald Trump—who owns some Ethereum and has his own NFT collection—will be notably absent, electing to skip the chit-chat in lieu of a pre-recorded interview with former Fox News host Tucker Carlson on Twitter.
Trump also used Twitter in 2019 to say that “he’s not a big fan of Bitcoin and other cryptocurrencies,” favoring the U.S. dollar. But other presidential hopefuls have also weighed in. Where do the candidates stand?

Florida Governor Ron DeSantis has expressed support for Bitcoin since his first official day as a candidate. During his campaign’s kickoff alongside Tesla CEO and Twitter owner Elon Musk, DeSantis told the billionaire that Bitcoin will probably be killed off if President Joe Biden is reelected.

While Democratic presidential candidate Robert F. Kennedy Jr. established himself as a pro-Bitcoin Biden alternative in May at Bitcoin 2023 in Miami, Biotech entrepreneur Vivek Ramaswamy was also a speaker with plenty to say about crypto’s largest coin.
“Thomas Jefferson, he would’ve been mining for Bitcoin today, I have little doubt about that,” he said. “That’s an American embodiment. It’s who we are as people.”

South Carolina Senator Tim Scott has established himself as supportive of crypto regulation. He’s a member of the Senate’s Financial Innovation Caucus, which discusses issues like digital assets, stablecoins, and CBDCs.

North Dakota Governor Doug Burgum hasn’t been a vocal proponent of Bitcoin on the campaign trail, but he’s given the crypto sector a tip of the hat within the past year. Commenting on the construction of a data center in North Dakota last year, he noted the state’s emergence as a hub for crypto mining.

There were several candidates set to take the stage on Wednesday who do not appear to have issued public comments about cryptocurrency or Bitcoin. They are former New Jersey governor Chris Christie, former U.N. ambassador Nikki Haley, former Arkansas governor Asa Hutchinson, and former Vice President Mike Pence.

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Feds Charge Tornado Cash Founders In $1 Billion Alleged Crypto Laundering Scheme—Including Millions For North Korea

The co-founders of cryptocurrency firm Tornado Cash were arrested Wednesday on charges of money laundering and sanctions violations, the Department of Justice announced, after they allegedly helped people launder $1 billion—including hundreds of millions of dollars for a sanctioned North Korean cybercrime group.

The Treasury Department also sanctioned Semenov on Wednesday for his role in the scheme, with Deputy Secretary Wally Adeyemo accusing him of continuing to “develop and promote the service” despite knowing of the laundering scheme and not taking “meaningful steps to reduce its use for illicit purposes.”

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Shopify Adds Solana Pay to Its Platform to Allow USDC Payments

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