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Cryptocurrency

A Crypto Company Gets Greenlight After Blacklisting by US Treasury

2024-12-02

A crypto currency company that had faced severe restrictions has now been granted the go-ahead to resume its operations. This development has sparked significant discussions in the financial and regulatory spheres. The 5th Circuit of Appeals has been actively involved in challenging the Biden administration's regulations related to crypto-currency and terrorist organizations. In a recent ruling, the court overturned an Austin federal judge's decision and declared that the US Treasury Department cannot prevent people from engaging in business with a crypto company known as Tornado Cash. The Treasury Department had previously stated that terrorist states and groups used this site to launder money and finance criminal activities. Two of Tornado Cash's founders were even sent to jail in the Netherlands on money laundering charges. However, users of Tornado Cash argue that the Treasury Department has no right to blacklist the company. The federal appeals court carefully examined the matter and found that the Treasury Department was relying on a 1977 law that was formulated long before the advent of the internet. The court emphasized that until Congress takes appropriate action, it is impossible for this law to be applied to Cryptocurrency. As a result, the ban on Tornado Cash has been lifted. LISTEN on the Audacy App. Tell your Smart Speaker to “PLAY 1080 KRLD”. Sign Up to receive our KRLD Insider Newsletter for more news. Follow us on Facebook | Twitter | Instagram | YouTube.

The Impact of the Court Ruling

This court ruling has far-reaching implications for the crypto currency industry. It showcases the ongoing battle between regulatory authorities and the evolving nature of digital currencies. The reversal of the ban on Tornado Cash indicates a shift in the stance of the judicial system towards a more balanced approach. It raises questions about the effectiveness of existing regulations in addressing the complex issues surrounding crypto-currency. On one hand, the Treasury Department's concerns about money laundering and terrorist financing are valid. On the other hand, the court's decision highlights the need for clear and updated regulations that can adapt to the rapidly changing digital landscape. This ruling serves as a reminder that the regulatory environment for crypto-currency is still in a state of flux and requires continuous evaluation and adjustment.

The Role of the 5th Circuit of Appeals

The 5th Circuit of Appeals has played a crucial role in this case. By overturning the Austin federal judge's decision, they have demonstrated their authority in interpreting and applying laws in the context of crypto-currency. Their actions send a signal that they are willing to carefully examine the validity of regulatory measures and ensure that they are in line with the principles of justice and the law. This case also highlights the importance of having a robust appellate system that can provide a check and balance on the actions of lower courts and regulatory agencies. It shows that even in the face of strong regulatory actions, there is a mechanism in place to review and potentially reverse those decisions. The 5th Circuit's involvement in this matter has set a precedent and will likely have an impact on future cases involving crypto-currency and regulatory disputes.

The Future of Crypto Currency Regulation

The reversal of the Tornado Cash ban raises important questions about the future of crypto currency regulation. It emphasizes the need for a comprehensive and coordinated approach that takes into account the unique characteristics of digital currencies while also addressing the legitimate concerns of regulatory authorities. Congress will need to play a key role in formulating and implementing new regulations that can effectively govern the crypto currency space. This may involve creating specific laws and guidelines that address issues such as anti-money laundering, consumer protection, and market stability. Additionally, regulatory agencies will need to work closely with industry stakeholders to ensure that the implementation of regulations is fair and practical. The future of crypto currency regulation will likely be a complex and evolving process that requires careful consideration of various factors and interests.

Over the past two weeks, an astonishing phenomenon has unfolded in the world of cryptocurrencies. The once soaring giant, Bitcoin, found itself trapped within a trading range between $90,000 and $100,000, after reaching a series of unprecedented highs. Despite still being in close proximity to an over $99,000 peak, a certain degree of optimism regarding its future prospects has begun to wane as market participants await more cues on U.S. policy.

Bitcoin's Recent Performance and Driving Forces

Bitcoin witnessed a modest 0.2% increase, reaching $96,513.2 by 00:49 ET (05:49 GMT). The recent rally in the crypto markets was primarily fueled by optimism surrounding a Donald Trump presidency. It was widely expected that such a presidency would lead to more favorable crypto regulation. However, Bitcoin's rangebound performance over the last two weeks was also influenced by a measure of profit-taking at record highs. Traders are now eagerly seeking more clarity on what specific policies Trump will implement for the crypto industry. After his promise to make the U.S. the crypto capital of the world and even suggesting the idea of a Bitcoin Strategic Reserve, traders are closely monitoring his selections for key positions. His picks for Treasury Secretary and Secretary of Commerce both hold pro-crypto views, and reports indicate that he may choose a pro-crypto candidate to lead the Securities and Exchange Commission.

The Surge of XRP and Its Underlying Speculation

On Monday, XRP experienced a remarkable surge of nearly 33%, reaching $2.46 and overtaking stablecoin Tether to become the third-largest crypto by market capitalization, standing at $140.13 billion, according to data from Coinmarketcap. This significant increase was largely driven by speculation that a forthcoming change in leadership at the SEC would lead the regulator to drop its long-running lawsuit against XRP issuer Ripple. SEC Chair Gary Gensler announced his resignation as Trump takes office in January, and recent reports suggest that former Commissioner Paul Atkins could take his place. Atkins has openly expressed support for digital assets. Traders are also speculating that Trump may shift crypto regulation from the SEC to the Commodity Futures Trading Commission. The CFTC is expected to adopt a less strict stance on regulating the crypto industry.

The Performance of Other Cryptocurrencies

While Bitcoin was rangebound, broader crypto prices also showed mixed trends on Monday. World no.2 crypto Ether fell 0.5% to $3,667.0. Solana and CardanoA experienced losses between 3% and 5%, while Polygon managed to rise 4.3%. Among meme tokens, Dogecoin saw a 2% increase. These diverse performances highlight the volatility and complexity of the crypto market, where various factors and speculations continue to shape the fortunes of different cryptocurrencies.

In the dynamic landscape of the digital economy, financing plays a crucial role in driving innovation. TRJLA LLC, a prominent real estate development company based in Los Angeles, has taken a significant step by accepting cryptocurrency for transactions. This move not only showcases their commitment to staying at the forefront of technological advancements but also provides flexible investment opportunities.

Unlock the Potential of Cryptocurrency in Real Estate Finance

Acceptance of Cryptocurrency: A Game-Changer in Real Estate

TRJLA LLC, a privately-held real estate development company, has made headlines by accepting various cryptocurrencies such as Bitcoin, Ethereum, XRP, and Solana. This acceptance can be facilitated through direct wallet-to-wallet transactions or by utilizing third-party service providers. The company's decision to integrate cryptocurrency into its investment processes is a testament to their forward-thinking approach and their belief in the transformative power of digital currencies.In today's evolving digital economy, traditional financing methods are being challenged, and innovative solutions are emerging. By accepting cryptocurrency, TRJLA LLC is positioning itself as a leader in real estate finance, offering investors a new and exciting avenue for investment. This move not only expands the company's reach but also opens up new possibilities for collaboration and growth.

Financing Initiative: Driving Innovation in Real Estate

Joseph Chang, the Co-Founder & CFO of TRJLA LLC, emphasizes the significance of this financing initiative. He states, "This financing initiative underscores the commitment to innovation and provides flexible investment opportunities in the evolving digital economy. By integrating cryptocurrency into its investment processes, TRJLA moves to the forefront of a transformative shift in real estate finance."The company's decision to accept cryptocurrency is not just a trend but a strategic move that aligns with the changing landscape of the real estate industry. It allows for faster and more efficient transactions, reducing the time and costs associated with traditional financing methods. Additionally, it provides investors with the opportunity to diversify their portfolios and participate in the growth of the digital economy.

Inviting Investors: Capitalizing on the 2028 Summer Olympics

TRJLA LLC is inviting cryptocurrency (and traditional cash) investors to participate in the next vertical development phase of their project. By completing advanced drawings and value engineering, construction is set to commence in 2026. The stabilization of the project is perfectly timed to capitalize on the energy and economic uplift from the 2028 Summer Olympics in Los Angeles.This large-scale podium project in Chinatown, which features 411 residential units and 17,140 square feet of commercial space, is expected to invigorate the community with vibrant living and shopping. The building offers generous amenities such as a podium pool, a pocket park with a dog run, and a rooftop gymnasium and deck. It also anticipates future trends such as micromobility and autonomous driving, ensuring that it remains relevant in the evolving urban landscape.

Strategic Location: Connecting Downtown Los Angeles

Situated at the gateway of Downtown Los Angeles, the project enjoys immediate access to 3 major freeways, a Gold Line Station, and LA State Historic Park. This strategic location provides excellent connectivity and accessibility, making it an attractive investment opportunity. With abundant natural light from two courtyards and multiple levels of lush greenery, the modern design with enhanced colors and materials fits well with the neighborhood vibe.The project's street frontage of around 500 feet provides ample space for retail and outdoor seating, adding to its appeal. As Downtown Los Angeles is expected to experience a real estate development boom cycle in the coming years, driven by the 2028 Summer Olympics and the Los Angeles Aerial Rapid Transit gondola project, this project is well-positioned to benefit from the increased demand.

Looking Ahead: The Future of Real Estate in Los Angeles

In the future, Downtown Los Angeles is set to witness a significant growth in real estate development. The 2028 Summer Olympics and the Los Angeles Aerial Rapid Transit gondola project are expected to bring a wave of investment and development to the area. TRJLA LLC's project in Chinatown is poised to play a vital role in this growth, providing much-needed housing and commercial space.With a team of experienced developers, architects, designers, and lawyers, TRJLA LLC is well-equipped to handle the challenges and opportunities of the evolving real estate market. Their focus on innovation and sustainability ensures that their projects not only meet the needs of the present but also contribute to the long-term development of the city.For additional information about the mixed-use project located at 717-759 N Hill Street, Los Angeles, CA 90012, please visit www.trjla.com.Media Contact:Joseph Chang, TRJLA, 1 7029001548, [email protected], www.trjla.comLinkedIn:SOURCE TRJLA; TRJLA