BITCOIN

On October 13, 2023, California enacted the Digital Financial Assets law. This law is California’s first comprehensive framework for regulation of digital asset markets, and some of its provisions may sound familiar to those versed in the state’s money transmitter licensing requirements. Under this new law, on and after July 2025, crypto companies and everyone else will need, in addition to other criteria, a license to operate or hold themselves out as being able to operate digital financial asset business activity, with or on behalf of California residents. The following editorial was written by guest authors Wyatt Noble and Michael Handelsman for Kelman.Law Key Definitions Before diving into the key provisions of the Digital Financial Assets law , it’s important to understand exactly what some of its key terms mean, what they cover, and what they don’t. Under the law, “digital financial asset” means digital mediums of exchange, units of account, or stores of value. However, “di

On Wednesday, the defense team for the former FTX CEO Sam Bankman-Fried issued a letter to the judge seeking to question two FBI agents who interviewed Gary Wang, former chief technology officer of FTX, and Nishad Singh, former director of engineering at FTX. Lawyers allege the witnesses provided “inconsistent statements” that don’t match their original interviews with the agents. Former FTX Executives’ Testimonies Under Scrutiny in Ongoing Bankman-Fried Trial Lawyers for Sam Bankman-Fried are interested in the “elicited testimony” gathered by two FBI agents who interviewed Gary Wang and Nishad Singh . The letter says Wang was questioned on October 6, and they asked him about specific statements he gave to the special agents on November 17, 2022, and December 7, 2022. “Mr. Bankman-Fried’s counsel specifically asked Mr. Wang whether [a] reference to notes that the FBI Agents had prepared on Form 302 refreshed his recollection of his statements to the FBI Agents at those interviews,

Tesla CEO Elon Musk and U.S. presidential candidate Vivek Ramaswamy have cautioned about the increasing risk of World War III erupting. “I think we are sleepwalking our way into World War III,” Musk said. Ramaswamy warned: “If we enter a major conflict, anything resembling World War III against a Russia-China alliance with potentially Iran and/or North Korea included on the other side, the United States as we know it will cease to exist.” Elon Musk, Vivek Ramaswamy Discuss World War III Risk Tesla and Spacex CEO Elon Musk and U.S. presidential candidate Vivek Ramaswamy discussed their perspectives on the growing risk of World War III Monday during a discussion on social media platform X. The discussion, titled “Where is Israel-Hamas war headed? Could this lead to WW3?,” was hosted by venture capitalist David Sacks, with Ramaswamy as the co-host. In addition to Musk and Ramaswamy, the event featured several other speakers, attracting an audience of over 915,000 listeners. Musk said

JPMorgan Chase CEO Jamie Dimon has identified nuclear proliferation as “the most serious thing facing mankind.” According to the United Nations, “the risk of a nuclear weapon being used is currently higher than at any time since the depths of the Cold War.” Dimon also pointed out that “central banks 18 months ago were 100% dead wrong.” Jamie Dimon Discusses Greatest Threats to Global Economy The chairman and CEO of JPMorgan Chase, Jamie Dimon, discussed the greatest threats to the global economy and the state of the U.S. economy on Tuesday during a panel discussion at the Future Investment Initiative (FII) summit in Riyadh, Saudi Arabia. He underscored the seriousness of the proliferation of nuclear weapons, ranking it above climate change and other commonly cited threats. The panel also featured H.E. Yasir Al-Rumayyan, the governor of Saudi Arabia’s Public Investment Fund and chairman of Aramco’s board of directors; Bridgewater Associates founder Ray Dalio; Blackrock CEO Larry Fin