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Major Crypto Platforms' Reaction to DOJ's New Regulation by End of 2024
5
Resolution / Starting Odds
Compliance • 25%
Non-compliance • 25%
Legal Challenge • 25%
Service Modification • 25%
Official statements or press releases from major cryptocurrency platforms.
Story
Bipartisan Senators Challenge DOJ Over Threat to Bitcoin Development
May 13, 2024, 02:17 AM
Senators Cynthia Lummis and Ron Wyden have expressed 'grave concerns' over the Department of Justice's interpretation of financial regulations affecting the cryptocurrency industry. In a bipartisan letter to U.S. Attorney General Merrick Garland, they criticized the DOJ's expanded definition of 'money transmitter' under the Bank Secrecy Act, arguing that it could criminalize non-custodial crypto asset software developers. This move by the DOJ, seen as part of a broader political strategy by the Biden administration, threatens to criminalize Bitcoin software development and could undermine the constitutional values embedded in the global financial system. The senators urged an immediate reversal of this policy to prevent stifling innovation and undermining the rule of law.
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Compliance • 25%
Non-compliance • 25%
Legal challenge • 25%
Operational adjustments • 25%
New regulations introduced • 33%
Existing regulations enforced more strictly • 33%
No change in regulations • 34%
Increased regulation • 33%
No change • 33%
Decreased regulation • 33%
Expand operations in the US • 33%
Restrict operations in the US • 33%
No significant change • 34%
Market value increases • 33%
Market value decreases • 33%
Market remains stable • 34%
Bitcoin remains unaffected • 25%
Ethereum gains clarity • 25%
Stablecoins get stricter regulations • 25%
Altcoins face new restrictions • 25%
New strict regulations passed • 33%
Regulations relaxed or removed • 33%
No significant regulatory change • 34%
Increased Regulation • 33%
Status Quo • 33%
Reduced Regulation • 34%
Implement similar rules • 33%
No change in regulations • 33%
Loosen cryptocurrency regulations • 34%
Clear guidelines established • 33%
Continued litigation • 33%
No major changes • 33%
