Tornado Cash Founders Accused, Court Rules in Favor of Grayscale Against SEC, and More — News Week in Review

The U.S. government has charged the founders of crypto mixing and privacy tool Tornado Cash with money laundering, calling them “criminals.” In other news, the U.S. Court of Appeals for the District of Columbia has ruled in favor of crypto asset manager Grayscale against the United States Securities and Exchange Commission (SEC). This and much more just below, in the latest News Week in Review.

Founders of Crypto Mixer Tornado Cash Accused of Laundering $1 Billion

The founders of the cryptocurrency mixing service Tornado Cash were charged last week with allegedly helping to launder more than $1 billion in digital currency, including funds taken by North Korean hackers.

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Court Rules in Favor of Grayscale Against SEC in Bitcoin ETF Conversion Lawsuit

A D.C. court has ruled in favor of Grayscale, the largest crypto asset manager, in its lawsuit challenging the U.S. Securities and Exchange Commission’s decision to deny the conversion of GBTC to a spot bitcoin exchange-traded fund (ETF). The securities regulator “failed to explain its different treatment of similar products,” said the Circuit judge presiding over the Grayscale-SEC case.

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Economist Peter Schiff Warns of ‘Full-Blown Financial Crisis’ Hitting US Economy Before Fed Reaches Inflation Target

Economist Peter Schiff has warned about an impending “full-blown financial crisis” that he expects to hit the U.S. economy before the Federal Reserve reaches its inflation target. He further predicted that the financial crisis will force the Fed to raise its inflation target.

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Oil Giants Joining BRICS a Strategic Success for China and Russia, Expert Says

A German expert says that the BRICS economic bloc adding several oil giants as new members “is a strategic success for China and Russia.” The BRICS leaders announced at their recent annual summit that they have invited Saudi Arabia, the UAE, Iran, Argentina, Egypt, and Ethiopia to join as new members.

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