Warren Warns of Crypto Lobby Threats; South Korea Delays Crypto Tax; Worldcoin App Hits 1M Users
Summary:
Massachusetts Senator Elizabeth Warren voices concerns about pro-cryptocurrency groups potentially interfering in her 2024 re-election bid. Simultaneously, South Korea's ruling party, The People Power Party, promises to postpone crypto tax plans for two more years in its upcoming general election campaign. Additionally, the Worldcoin (WLD) token's value has seen a rapid increase, rising 141% in a week as user count reaches one million on its World App. Meanwhile, OpenAI introduces Sora, marking another significant move in the tech world.
Elizabeth Warren, a senator from Massachusetts, has voiced concerns that pro-cryptocurrency lobbies may spend enormous funds to jeopardize her hopes for re-election in 2024. Concurrently, South Korea's prevailing political party is preparing for a general election campaign, vowing to postpone cryptocurrency taxation plans for another two years. Furthermore, the Worldcoin (WLD) token's price has risen 141% within a week as its World App hit one million users, and OpenAI introduced Sora.
Elisabeth Warren, who opposes cryptocurrency, has alerted the possibility of pro-cryptocurrency groups spending significant amounts to intervene in her and Rep. Katie Porter's Senate elections. During an interview on February 18, Warren was asked about the possibility of being contested by John Deaton, a "Republican crypto enthusiast", in her 2024 race. Warren affirmed that her campaign rejects corporate PAC money, relying primarily on smaller contributions.
According to Warren, the cryptocurrency realm is filled with numerous loopholes, and as a result, it has become a popular platform for drug traffickers, human traffickers, rogue nations, and terrorists. She pointed out that some cryptocurrency enthusiasts have considerable money to deploy, leading to the engagement of lobbying armies against the Digital Asset Anti-Money Laundering Act.
In the meantime, The People Power Party, South Korea's ruling political party, is advocating for the extension of crypto gain taxes' delay for an additional two years as part of its electoral commitment for the forthcoming general election in April. The party argues that a basic cryptocurrency framework ought to be in place before the commencement of taxation. The taxation will only be introduced once this central framework is well established.
OpenAI CEO Sam Altman's co-founded venture, Worldcoin, has seen more than a 140% upswing in just one week as its daily users crossed the one million mark. The World App, Worldcoin's first-ever wallet, reached one million daily users this week. In July 2023, Worldcoin, a self-proclaimed "privacy-preserving" digital identity authentication project, was launched by Altman and Alex Blania. They pay users in their proprietary cryptocurrency for providing iris scans.
Worldcoin's (WLD) increase during the past week coincides with a series of significant updates from OpenAI. On February 16, OpenAI released its new text-to-video generator, Sora, enabling users to convert text prompts into video clips and scenes. Earlier, on February 9, Altman made an announcement to raise $7 trillion to fund and enhance the company's semiconductor chip development.
This news doesn't include any investment advice or recommendations. Every financial and trading decision involves risk, and individuals should conduct their background research before making a decision.
Reported by Geraint Price, Sam Bourgi, and Felix Ng.
Published At
2/19/2024 10:42:51 PM
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