CRYPTOCURRENCY
US States Challenge CBDC as Legal Tender
Four U.S. states - Utah, South Carolina, South Dakota, and Tennessee - have filed bills to exclude Central Bank Digital Currencies (CBDCs) from their legal definitions of money, reflecting rising state-level resistance and concerns over privacy and federal overreach.
Utah Man Ordered to Settle Over $2.5 Million for Bitcoin Fraud by CFTC
Utah-based Jacob Orvidas has been ordered by the Commodity Futures Trading Commission (CFTC) to pay over $2 million and face a $500,000. The order revealed Orvidas deceived at least four individuals into investing in a leveraged Bitcoin commodity pool, claiming significant profits and monetary safety. He also failed to register as a commodity pool operator.
Utah Passes Law Recognizing Decentralized Autonomous Organizations
The Utah State Legislature has passed the Utah Decentralized Autonomous Organizations Act, providing legal recognition and limited liability to DAOs, also known as "Utah LLDs". The act defines ownership, protects anonymity, and introduces quality assurance protocols.
University of Utah Paid Out $450k to Ransomware Gang to Prevent Student Data Leak
The University of Utah paid a hefty sum of $457,059.24 to a ransomware gang to prevent compromised student data from being leaked online.