Source: Kobeissi LetterInsider scams and “outright fraudulent activities” like rug pulls, which are “not only unethical but also clearly illegal, with case law to support enforcement,” should see more thorough regulatory attention, Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum, told Cointelegraph, adding:“In my view, these activities should fall firmly within the jurisdiction of law enforcement agencies.”The latest meltdown occurred on March 16, after Hayden Davis, the co-creator of the Official Melania Meme (MELANIA) and the Libra token, launched a Wolf of Wall Street-inspired token (WOLF).
The bill also requires crypto service providers to offer advance full disclosure of user fees and charges.Bill SB1797.Source: Ilga.gov“A person shall not engage in digital asset business activity, or hold itself out as being able to engage in digital asset business activity, with or on behalf of a resident unless the person is registered in this State by the Department under this Article [...],” the bill states.
Related: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial systemMemecoin scams spark regulatory momentumOne of the most notorious recent cases was the collapse of the Libra token, a memecoin reportedly endorsed by Argentine President Javier Milei.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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