Trump follows through on crypto promise, SEC pushes back against Binance: Law Decoded
2024-12-10

United States President-elect Donald Trump nominated Paul Atkins to replace Gary Gensler as chair of the Securities and Exchange Commission. 
Crypto compliance “no longer optional” under Australia’s new draft guidelines
On Dec. 4, the Australian Securities and Investment Commission released a consultation paper on proposed guidance for crypto that would prevent unlicensed crypto exchanges and firms from dealing with digital assets.
Kate Cooper, CEO of Australia and head of APAC at the Standard Chartered-backed crypto custodian Zodia Custody, informed Cointelegraph that it was a “wake-up call” and that compliance is “no longer optional for the industry.”
The proposed guidance would mandate crypto exchanges and businesses to obtain one or both Australian financial services licenses — the Australian Financial Services License (AFSL) and the Australian Market License. 
Russia sentences Hydra market founder to life in prison
The founder of crypto mixing service Hydra has been sentenced to life in prison by a Russian court alongside 15 accomplices found guilty of organizing a criminal community and illegally producing and selling psychotropic substances and drugs. 
Hydra founder Stanislav Moiseev’s accomplices received sentencing ranging from eight to 23 years by the Moscow Regional Court, according to a Dec. 2 statement from the Moscow Prosecutor’s office.
Moiseev also received a fine of $38,100, while his accomplices were hit with a combined fine of $152,400 for the activities of the mixing service, which managed over $5 billion worth of crypto during its operations.