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U.S. Attorney Damian Williams said conspiracy charges against KuCoin and two executives should warn other crypto exchanges that they cannot serve U.S. customers without following U.S. laws. An indictment in Manhattan federal court said the company and its founders tried to conceal the existence of its U.S. customer base. KuCoin was also required to cease New York operations after falsely representing itself as a crypto exchange without registering as a securities and commodities broker-dealer, James said. “KuCoin grew to service over 30 million customers, despite its alleged failure to follow laws necessary to ensuring the security and stability of our world’s digital banking infrastructure,” McCormack said. Three companies doing business as KuCoin were incorporated in the Cayman Islands, the Republic of Seychelles and Singapore.
Persons: Damian Williams, KuCoin, Letitia James, James, Williams, , , Darren McCormack, “ KuCoin, ” McCormack, Johnny, Chun Gan, Ke Tang Organizations: New York, Homeland Security Investigations Locations: U.S, Manhattan, York, New York, China, Cayman Islands, Republic of Seychelles, Singapore
New York CNN —Fitch Ratings is keeping the United States on watch for a potential credit rating downgrade even after Congress passed a last-minute bill to avert a disastrous default. Although the resolution to the debt ceiling fight is a “positive,” Fitch expressed deep concern about the recurring brinksmanship and worsening polarization in Washington. That reasoning is similar to the rationale behind the downgrade by S&P in 2011 – an unprecedented step that occurred after Congress agreed to raise the debt ceiling. The latest debt ceiling battle has prompted more calls for reform or even eliminating the debt ceiling. This isn’t the first time the credit ratings firm has sounded the alarm about the messy state of affairs in America.
Persons: New York CNN — Fitch, Fitch, ” Fitch, “ Fitch, Richard Francis, Francis, Joe Biden, Chris Krueger, ” Krueger, , James McCormack, Fitch’s, ” McCormack Organizations: New, New York CNN, CNN, Fitch, AAA, House Republicans, Congressional, Cowen’s Washington Research Group, Security, Medicaid, Fed, Treasury Locations: New York, United States, Washington, America
New York CNN —Every few years, Washington plays a dangerous game of chicken over whether to raise the debt ceiling or default on US debt. Even if a default is avoided this time, the frequent nature of these political showdowns could cause America’s credit rating to get downgraded, Fitch Ratings told CNN on Monday. Those already look messy and were at the heart of the unprecedented credit ratings downgrade by S&P Global Ratings in 2011. Goldman Sachs told CNN in late January that a full-blown debt ceiling crisis could spark a recession. That’s why Fitch does not have the United States on watch for a downgrade, at least not yet.
CNN —The unexpected passing of television star and social media darling Leslie Jordan has spurred a flood of heartfelt tributes. The actor died on Monday, his talent agent Sarabeth Schedeen told CNN in a statement. Jordan’s most recognizable credit was his time on “Will & Grace” as Beverley Leslie, a role he reprised throughout the show’s run, including its recent reboot. Co-star Eric McCormack posted two tributes to Jordan on his Instagram, with one showing showing the pair performing for the cameras on the show. “Crushed to learn about the loss of @thelesliejordan, the funniest and flirtiest southern gent I’ve ever known,” McCormack wrote in the caption.
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