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Australia targets rise of China’s digital currency

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An Australian lawmaker wants to tackle the rise of China’s digital currency

Andrew Bragg is the man behind the changes, he’s from the conservative Liberal Party who wants to put restrictions in place to avoid the use of the digital Yuan.

In a draft bill, the MP wants banks to share details about whether or not they have accepted digital currencies from China.

Of course, Beijing is currently running trials of its sovereign currency at the moment.

But it’s left some lawmakers in a rush to get on top of it.

Earlier this year, the U.S. began setting up fresh rules around the digital Yuan .

In Australia, banks that are found to be breaching the rules could be penalised.

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Celebrities busted over illegal crypto scheme

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Agreements have been settled without admitting guilt

 
Eight celebrities have been busted over allegations they’ve been participating in an illegal crypto scheme.

The stars, including Lindsay Lohan, Logan Paul and Soulja Boy, were all charged following an investigation by the U.S. Securities and Exchange Commission.

Lohan and Paul have reportedly settled the matter without admitting guilt.

But, regardless, it’s just another bad look for the already embattled crypto industry.

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Crypto fugitive Do Kwon arrested in Montenegro

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He was carrying falsified documents at an airport

One of the world’s most wanted crypto fugitives has been arrested in Montenegro.

It’s a long way from home for South Korean entrepreneur Do Kwon, who’s accused of orchestrating a multi-billion-dollar fraud scheme.

Kwon was connected to the TerraUSD stablecoin, which saw $40 billion erased from its holders.

He was reportedly arrested at an airport after carrying falsified documents.

It follows a red notice being issued by South Korea last September.

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SEC sues Jake Paul over paid crypto promotions

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The issue is linked to Tron founder Justin Sun

The U.S. Securities and Exchange Commission (SEC) is suing YouTube personality Jake Paul over a promotion of cryptocurrencies linked to Tron founder Justin Sun.

The SEC is accusing Paul of a paid promotion of assets without disclosing those payments to the public.

Other celebrities such as Lindsay Lohan, Ne-Yo and Akon and are also being investigated for their involvement.

Meanwhile, the SEC is going after Sun for potential fraud and market manipulation.

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