US Crypto Legislation Stalls Amid House Speaker Standoff; Reddit Moderators Ousted Over Insider Trading; New Evidence Challenges Satoshi Nakamoto Identity Theory
Summary:
The deadlock in the selection of a new US House speaker has paused key crypto legislation. Reddit's r/CryptoCurrency group has dismissed two moderators over allegations of insider trading of Moons (MOON) token. Separately, new evidence presented by Bitcoin proponent Jameson Lopp disputes the theory that Hal Finney, a computer scientist, was the creator of Bitcoin, Satoshi Nakamoto.
Crucial cryptocurrency legislation is currently stalled in the United States Congress due to the Republican party's inability to choose a new House speaker. Elsewhere, Reddit's r/CryptoCurrency community has dismissed two of its moderators following allegations of Moons (MOON) token insider trading, while new evidence introduced by Bitcoin (BTC) proponent Jameson Lopp may challenge the belief that computer scientist Hal Finney is the enigmatic Satoshi Nakamoto, the creator of Bitcoin.
The vacuum for the House speaker’s position has left crypto bills in a state of suspension as they can't proceed without approval from this office. Proposals such as the Financial Innovation and Technology for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act, and the Keep Your Coins Act are on hold until a consensus on a new speaker is reached. According to the director of government relations for the Blockchain Association, several candidates in the speaker race have shown a favorable stand on crypto, with Tom Emmer as the leading candidate.
Simultaneously, there is an increasing number of representatives, including Senator Elizabeth Warren, who advocate for the suppression of unlawful crypto activities.
In another development, Reddit's r/CryptoCurrency group has ousted two moderators believed to have participated in insider trading of the MOON token. Preliminary investigations link at least three wallets associated with group moderators to the offloading of huge sums of MOON tokens right before the announcement of discontinuing the blockchain-based points program involving these tokens took place.
A shift in the theory about Bitcoin's creator has also occurred, with new evidence from Jameson Lopp, co-founder of Bitcoin custody company Casa, suggesting that Hal Finney couldn’t have been Satoshi Nakamoto. Lopp cited archived emails and a Bitcoin transaction occurring while Finney was participating in a 10-mile race, alongside Satoshi's online activity in August 2010, which would have been virtually impossible given Finney's battle with Amyotrophic Lateral Sclerosis (ALS).
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Published At
10/23/2023 6:22:39 PM
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