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• Ooki DAO has been forced to pay a $643K fine by the CFTC after a court victory.
• Ex-SEC chair Jay Clayton says the agency is having ‘blunt conversations’ on crypto and endorses ‘true stablecoins’.
• is halting its US institutional exchange offering, while Ethereum needs 3 critical transitions for survival according to Buterin.

Court Victory Forces Ooki DAO to Pay Fine

The U.S. Commodity Futures Trading Commission (CFTC) was recently victorious in court, with the ruling forcing Ooki DAO to pay a $643K fine for violating regulations concerning digital asset derivatives trading activities.

Ex-SEC Chair Endorses ‚True Stablecoins‘

Jay Clayton, former chair of the U.S Securities and Exchange Commission (SEC), commented on the current treatment of crypto during a conversation at Bloomberg Invest on June 8th. He revealed that he would not be second-guessing his successor from the sidelines and that he was known for being a “crypto hawk” who shut down the “ICO craze” during his tenure at SEC – although he did openly endorse „true stablecoins“. Halts US Institutional Offering have announced their intentions to halt their US institutional exchange offering, but it should be noted that this will not affect retail users of their platform in any way whatsoever.

Ethereum Needs Critical Transitions For Survival

Vitalik Buterin recently spoke out about Ethereum’s need for three critical transitions in order for it to ensure its survival: scalability, usability and trust minimization (or decentralization). All three are considered essential components if Ethereum were to reach its full potential as a blockchain network and cryptocurrency ecosystem.

Two Russians Charged With Laundering Bitcoin

The U.S Department of Justice recently charged two Russian nationals with laundering over 600k worth of Bitcoin through international exchanges, including those based in Japan and Europe – further highlighting the importance of regulatory compliance when dealing with cryptocurrencies both domestically and abroad.