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War FUD & WW3 is the new China ban FUD innit 😏

SEC and Ripple ask court for $125 million fine, seeking to end years of litigation Ripple and the U.S. Securities and Exchange Commission (SEC) filed a joint motion with the Federal District Court for the Southern District of New York, requesting the court to lift the ban on Ripple and reach a settlement of $125 million in fines - $50 million to the SEC and $75 million to Ripple. Both parties pointed out that the SEC's view on cryptocurrencies has changed. Since the former chairman stepped down, the agency has withdrawn several investigations and charges, and has also set up a working group to develop a regulatory framework. There are "special circumstances" and modifying the final judgment will help reconcile, avoid appeals and save resources. The motion is the latest development in the nearly five-year legal dispute between the two parties. (The Block)

And so it begins. The crazed fundamentalists are coming to ban and burn books. We warned you that you were going to get batshit crazy fundamentalists in control of government and education.

Authorities in Russia prepare to slap hefty fines on miners minting digital currencies outside the law, following the recent bust of large-scale illegal mining operations in Siberia. The penalties will be introduced through legislative changes, the authors of which have also taken the opportunity to target the use of cryptocurrencies for payments. In both cases, offenders may expect to have their coins seized by the state. The Russian government intends to go after illegal mining activities believed to be causing energy shortages and power grid breakdowns in a number of regions. Moscow wants to punish the so-called “gray” miners with serious fines and confiscation of the mined crypto. According to amendments to the country’s Code of Administrative Offenses drafted by the Ministry of Digital Development, companies involved in such operations will pay the state between 1 million and 2 million rubles ($25,000), the Russian-language edition of Forbes unveiled this week. Penalties for individual entrepreneurs and officials will range from 200,000 to 400,000 rubles ($5,000) while private citizens mining in their basements and garages will be fined between 100,000 and 200,000 rubles ($2,500), the article detailed. The existence of the bill, which is yet to hit the floor of the State Duma, the lower house of the Russian parliament, was confirmed by Anton Gorelkin, deputy chairman of the parliamentary Committee on Information Policy, IT and Communications. Speaking to the business news portal RBC on Wednesday, the lawmaker revealed that the legislation stipulates the seizure of the illegally minted cryptocurrency, insisting that the changes should be approved “as soon as possible.” The authors of the draft law have also sneaked in a text imposing similar monetary punishments and coin confiscation for any citizen or business using cryptocurrencies for payments outside Russia’s special legal regime that allows limited crypto settlements in foreign trade. In this case, fines may reach 1 million rubles for companies, 400,000 rubles for officials trespassing the law, and 200,000 rubles for ordinary Russians using Bitcoin and the like to buy goods and services instead of spending the only legal tender in Russia, the ruble. This kind of liability is “quite tough” against the general background of the code, Director Bank of Russia ’s legal department, Andrey Medvedev, admitted in May, while emphasizing: “But the key thing is that the digital currency that will be illegally used as a means of payment will be confiscated. This will be the most painful phenomenon.” Crypto mining was legalized in Russia last year. Legal entities and entrepreneurs engaged in the business are required to register with the Federal Tax Service, while private persons can mine without registration as long as their monthly electricity consumption does not exceed 6,000 kWh. Russian miners are also obliged to report the mined cryptocurrency to the Federal Financial Monitoring Service ( Rosfinmonitoring ), and failure to do so will also result in financial fines in the future. Growth in the industry has caused energy deficits in parts of the country, and the government in Moscow has already imposed a blanket ban on mining in 11 Russian regions, from the Far East to the Caucasus and the occupied territories of Ukraine. However, Duma member Anton Gorelkin is convinced that illegal crypto farms are the ones to blame for the excessive load on Russia’s power grids. The current mining prohibition does little to combat them, he said, noting that the restrictions primarily affect “white” miners. His statements and the news of the heavier penalties for illegal mining come after the discovery of two of the largest “gray” mining farms to date in Irkutsk earlier in June. Law enforcement officials found and seized a total of more than 4,700 mining devices operating at two separate sites in the Siberian Oblast, which has banned mining in its southern half. KEY Difference Wire helps crypto brands break through and dominate headlines fast

Planet Lunch News 1. GMGN Lianchuang: The reason for the official X account ban has not yet been determined; 2. The Japanese Prime Minister intends to propose a joint response to North Korea's theft of crypto assets at the G7 summit; 3. A giant whale bought another 16,500 ETH after making a cumulative profit of US$30.45 million on ETH; 4. HSBC: It has been designated by China Asset Management as the tokenization agent for the Hong Kong Project Ensemble pilot program; 5. Plasma's newly added US$500 million quota was fully deposited again in about half an hour; 6. An institution transferred another US$40 million to the WLFI address, suspected of continuing to purchase WLFI OTC; 7. Glassnode: Option trends show that ETH may continue to rise; 8. Trump's second son Eric Trump officially announced that TRON will mint the first USD1; 9. KOL AB Kuai.Dong: The X platform's crypto user account ban may be related to third-party crawlers and matrix accounts; 10. The giant whale bought 100,000 HYPE And participate in staking, and arrange short orders in multiple currencies; 11. Bitcoin spot ETF had a total net inflow of US$165 million yesterday, continuing net inflow for 3 days; 12. Polyhedra: Panbubu SBT has been officially issued.