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Coinbase CEO to meet with Trump to discuss personnel appointments

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Coinbase CEO Brian Armstrong recently met with former U.S. President Donald Trump to discuss the future of cryptocurrency regulation and the role of digital assets in the U.S. economy. The meeting, which took place at Trump’s Mar-a-Lago estate, has raised eyebrows within the crypto community, as it marks a rare convergence of the tech industry with political figures known for their controversial stances on financial innovation. Armstrong, a vocal advocate for cryptocurrency, reportedly shared insights on how blockchain technology could drive economic growth and job creation.

The discussions are believed to have centered around regulatory challenges facing the crypto industry, with Armstrong emphasizing the need for clear and consistent rules to foster innovation while ensuring consumer protection. He is said to have highlighted the potential of cryptocurrencies and blockchain to enhance the U.S. financial system, providing opportunities for economic inclusivity and international competitiveness. Armstrong also expressed concerns over the current regulatory uncertainty that has left many blockchain-based projects uncertain about their future in the U.S.

Although the specifics of the conversation remain private, the meeting comes amid increasing scrutiny of the cryptocurrency sector by U.S. lawmakers and regulators. The Biden administration has taken a more cautious approach to digital assets, with key agencies such as the SEC and the CFTC pushing for more stringent oversight. The meeting between Armstrong and Trump may signal a shift toward more open dialogue between crypto leaders and influential political figures as the sector grapples with growing regulatory pressure.

While some in the crypto community have applauded the idea of engaging with political leaders, others remain wary of the potential for regulatory overreach. Armstrong’s meeting with Trump could play a role in shaping future crypto policy, especially as the U.S. continues to debate how to balance innovation with regulatory control. As the conversation around crypto regulation intensifies, industry leaders like Armstrong are likely to continue engaging with policymakers to ensure that the U.S. remains a competitive player in the rapidly evolving global digital economy.

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Binance tightens South African compliance rules for crypto transfers

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Binance is tightening compliance measures for crypto transactions in South Africa, announcing it will fully implement the country’s Travel Rule requirements beginning January 2025. The move aligns with regulations set by South Africa’s Financial Intelligence Centre (FIC) and reflects the exchange’s broader efforts to meet global anti-money laundering standards.

Under the new rules, Binance will require South African users to include verified personal information—such as names, addresses, and account details—when sending or receiving crypto between platforms. These changes are designed to increase transparency and traceability of digital asset transfers, making it harder for illicit actors to exploit decentralized networks.

Binance emphasized that users must complete know-your-customer (KYC) verification before transferring crypto to or from external wallets. Transfers to non-compliant platforms may be restricted or flagged, while internal transfers within Binance or to Travel Rule-compliant entities will remain unaffected.

The announcement follows South Africa’s decision in 2023 to designate crypto as a financial product, placing digital asset providers under the supervision of the FIC. The country has since taken steps to integrate crypto into its formal regulatory structure, including licensing requirements and mandatory reporting obligations.

With enforcement beginning in 2025, Binance urged users to familiarize themselves with the new procedures to avoid disruptions. The exchange also plans to provide additional guidance and tools to help users remain compliant as the deadline approaches.

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Ethereum bounces back as market dominance recovers from all-time low

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Ethereum has staged a notable recovery after recently experiencing its lowest market dominance since its early days. The turnaround comes as ETH surged nearly 4% in the past 24 hours, climbing back above the $3,100 mark and narrowing its underperformance gap relative to Bitcoin.

For much of 2024, Ethereum has trailed behind Bitcoin and a growing wave of altcoins, with its market share dropping below 15% — levels not seen since 2015. The slump was driven by investor focus on Bitcoin ETF momentum, lackluster institutional interest in ETH, and rising competition from layer-1 and layer-2 networks offering faster and cheaper alternatives.

Despite these challenges, Ethereum’s fundamentals remain strong. Data shows a healthy uptick in active addresses, transaction volumes, and total value locked in DeFi protocols built on Ethereum. Additionally, hopes remain high for the approval of a spot Ethereum ETF in the U.S., with analysts suggesting a potential turnaround in institutional flows if approved.

Traders are now watching whether this rebound signals a sustained trend reversal or just a temporary relief rally. With key upgrades and ecosystem developments still in the pipeline, Ethereum’s ability to regain dominance may hinge on reigniting both investor confidence and broader developer activity.

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SEC says it won’t re-file fraud case against Hex’s Richard Heart

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The U.S. Securities and Exchange Commission (SEC) has confirmed it will not pursue a retrial in its fraud case against HEX founder Richard Heart, effectively bringing an end to one of the agency’s high-profile crypto enforcement actions.

The decision follows a recent court ruling that dismissed several key allegations against Heart, including claims that he misled investors and violated securities laws through the promotion and sale of HEX, PulseChain, and PulseX tokens. While the SEC initially signaled it would consider further legal options, it has now opted to forgo additional litigation.

Heart, a controversial figure in the crypto world, had long denied the SEC’s accusations, framing the lawsuit as an overreach by regulators. The agency had alleged that Heart raised over $1 billion from investors while misrepresenting how funds would be used and failing to register the offerings.

With the SEC stepping back, the dismissal marks a rare instance in which the regulator has chosen not to continue a crypto-related fraud case, potentially signaling a reassessment of its approach amid growing legal pushback and mounting scrutiny over its enforcement tactics.

Although the case is now closed, legal analysts suggest the outcome could influence future regulatory efforts and may embolden other crypto founders facing similar challenges. Heart, meanwhile, has positioned the development as a vindication, reaffirming his stance that HEX and related projects were never in violation of U.S. securities laws.

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