ACTAct I : The AI Prophecy Price

On August 29, Brian Armstrong posted on the X platform, stating that one of the simplest ways to explain cryptocurrency is that it offers faster, cheaper, and more efficient financial services. The traditional financial system originated around the 1970s and in some cases still operates on outdated mainframes. This is also why basic functions like weekend transfers or low-cost wire transfers are still not achievable. The U.S. needs to pass the Clarity Act to establish clear rules that guide the industry, rather than allowing outdated systems and uncertainty to prevail.

On August 29, Brian Armstrong posted on X platform, stating that one of the simplest ways to explain cryptocurrency is that it offers faster, cheaper, and more efficient financial services. The traditional financial system originated around the 1970s and, in some cases, still operates on outdated mainframes. This is also why basic functions like weekend transfers or low-cost wire transfers are still not achievable. The U.S. needs to pass the Clarity Act to establish clear rules to guide the industry, rather than allowing outdated systems and uncertainty to prevail.

On August 28, Bits media reported that the Central Bank of Russia has incorporated 2,600 cryptocurrency wallet addresses suspected of illegal activities into a specialized information system. These addresses belong to legal entities, various projects, and individual entrepreneurs. The total value of cryptocurrency received by these addresses during their existence is approximately 1 billion rubles. The system is accessible to government agencies and law enforcement, allowing banks and authorities to assess customer risk profiles and conduct financial investigations; if transactions are linked to addresses within the system, related bank transactions may be intercepted. The Central Bank of Russia stated that 74% of the relevant cases involve digital assets used by financial pyramid schemes and fraudsters, including investment scams disguised as cryptocurrency, mining, fake data centers, and tokens issued by scammers, as well as crypto loan services that circumvent the official financial system to borrow USDT stablecoins.