🔒 G-7 is pushing for a draft of global crypto regulations

🔒 G-7 is pushing for a draft of global crypto regulations 🔒 ETH keeps building: devs confirm Shapella upgrade is scheduled for April 12 💰 SBF gets indicted again, this time for an alleged bribery scheme

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🔒 G-7 is pushing for a draft of global crypto regulations

🔒 ETH keeps building: devs confirm Shapella upgrade is scheduled for April 12

💰 SBF gets indicted again, this time for an alleged bribery scheme

G-7 is pushing for a draft of global crypto regulations

The G-7 came up with a foolproof plan to tackle the wild, lawless world of crypto: regulations. The leaders of the world’s biggest economies held a summit to discuss the dangers of cryptocurrency, and after hours of deliberation emerged with a brand-new solution: more rules, harsh penalties, and stiffer restrictions.

The G-7 feel it's necessary to prepare a draft of global cryptocurrency regulations before the finance ministers and central bankers meet in Japan later this year. The new rules would ensure crypto is strangled with red tape, with a strict enforcement system in place to punish those who don't comply.

It's clear that crypto is seen as a rising threat to global financial stability by the bankers and the G-7 wants to act fast. We'll see what comes out of the upcoming meeting in Japan to get a clearer picture of what kind of regulations we can expect.

ETH keeps building: devs confirm Shapella upgrade is scheduled for April 12

The Shapella upgrade is the latest in a long line of network upgrades that Ethereum dutifully endures, like clockwork. After much deliberation and discussion, the core developers have reached a consensus to initiate the Shapella upgrade on April 12. There’s no stopping the Ethereum machine!

The Shapella portmanteau is made up of two upgrades, Shanghai and Capella, which will both be activated simultaneously. Shapella will be activated upon reaching Network epoch 194,048, which is 10:27PM UTC, April 12th.

The upgrade will bring about EIP-4895, which is centered around the withdrawal of staked ether. Shapella also comes with a variety of other network improvements, such as optimizing transaction fees and bettering scalability through on-chain data availability.

The Shapella upgrade has already been tested on multiple testnets before being approved by the Ethereum Core Developers group. Now all that's left to do is wait for the big activation day.

SBF gets indicted again, this time for an alleged bribery scheme

SBF has been slapped with a new indictment, and this time it's for an alleged bribery scheme. According to the indictment, SBF directed over $40 million worth of cryptocurrency to Chinese officials in exchange for favors. This is reportedly in an attempt to unfreeze $1 billion worth of crypto held in accounts on two Chinese exchanges. The irony here is that SBF allegedly tried other methods to unfreeze the accounts before resorting to bribery, such as communicating with the exchanges, using Chinese lawyers, and opening new accounts using identifying information unaffiliated with FTX or Alameda. In the end though, it seems that only a hefty bribe did the trick.

SBF has pleaded not guilty to all previous charges, those being conspiracy to commit wire fraud, derivatives fraud, securities fraud, bank fraud, operating an unlicensed money-transmitting business, money laundering and making unlawful political contributions, so possibly the same plea will be entered in this case.