Bitcoin News and Finance: What You Need to Know

Rich Dad Poor Dad author Robert Kiyosaki has shared the reason why he owns bitcoin, stating that the cryptocurrency protects against “the theft of our wealth via our money.” The famous author warned that the Federal Reserve, the government, and Wall Street bankers steal our wealth, specifically via inflation, taxation, and stock price manipulation. Robert Kiyosaki Explains Why He Owns Bitcoin The author of Rich Dad Poor Dad, Robert Kiyosaki, has explained why he owns bitcoin. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki explained in a post on social media platform X Tuesday: Why I own bitcoin. Bitcoin is protection against the theft of our wealth via our money. “Fed Chairman Powell, Treasury Secretary Yellen, and Wall Street bankers steal our wealth via our mone...

Billionaire venture capitalist Tim Draper has doubled down on bitcoin and his price prediction of the crypto. “I think that there’s going to be a moment where there’s a run on the banks,” he cautioned, adding: “I actually think that there will be a moment in time when I can buy my food, clothing, and shelter all in bitcoin. And people won’t want dollars anymore.” Tim Draper on Government and Bitcoin Billionaire venture capitalist Tim Draper discussed his bitcoin outlook in an interview with Bloomberg on Tuesday. Draper is famous for his $250,000 bitcoin price prediction . When the price of BTC was $400, he predicted that it would take four years for it to reach $250K. Draper admitted that his prediction missed the mark because he underestimated several crucial factors. “A few things I didn’t expect. I didn’t expect the U.S. government to be so paranoid about it [bitcoin]. I expected the U.S. government to figure out how to tax it and figure out how to allow people to do business w...

As part of its ongoing efforts to modernize financial regulations, China is revising its Anti-Money Laundering laws to include stringent measures against cryptocurrency-related transactions. This revision, the first since 2007, aims to plug the legal gaps exploited in the burgeoning world of digital currencies. China to Tighten Grip on Digital Assets With Revised Anti-Money Laundering Law China is set to overhaul its Anti-Money Laundering (AML) laws, incorporating cryptocurrency-related transactions into its regulatory framework. This major revision, according to an article in Jiemian.com , is the first since 2007 and comes amid increasing concerns over the use of digital assets in money laundering activities. Prime Minister Li Qiang chaired a key executive meeting of the State Council on Jan. 22, to address the revised AML law. The initial draft for this revision was first proposed in June 2021 and later included in the 2023 legislative work plan of the State Council. The final la...

The SEC has decided to abandon its lawsuit against Debt Box, a crypto company previously accused of defrauding investors of millions. This decision follows the SEC’s acknowledgment of presenting misleading information in court, a revelation that undermines the agency’s case and credibility. Inaccuracies in Court Lead SEC to Drop Fraud Case Against Crypto Firm Debt Box The U.S. Securities and Exchange Commission (SEC) has requested to dismiss its lawsuit against crypto startup Debt Box. The decision comes after the SEC admitted to making inaccurate statements in court. The lawsuit, initially filed against Digital Licensing Inc., which does business as Debt Box, accused the company of defrauding investors of at least $49 million. The SEC claimed that Debt Box offered “node licenses” for mining cryptocurrencies that were never actually mined. This action was part of a broader crackdown by the SEC on cryptocurrency firms, under the leadership of Chair Gary Gensler who has repeatedly s...