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Crypto

California bans public officials from issuing or promoting memecoins, governor signs bill

California has enacted a bill banning state and local government officials from issuing memecoins. The measure applies broadly to elected and appointed officials, state lawmakers and members of government-affiliated commissions, panels and advisory bodies, including those with only advisory authority. The law also restricts distribution, barring digital asset service providers from offering certain official-linked memecoins issued after Jan. 1, 2027 to California residents.

Games & Commerce

Prosecutors seek 15 years for Kim Bum-soo in appeal over SM stock manipulation

South Korean prosecutors asked an appeals court to sentence Kim Bum-soo (김범수), head of Kakao\'s Future Initiative Center, to 15 years in prison and a 510 million won fine over alleged stock-price manipulation during Kakao\'s bid for control of SM Entertainment. They also sought 12 years for Bae Jae-hyun and fines for Kakao and Kakao Entertainment. Kim was acquitted at trial, and prosecutors appealed.

Crypto

Binance back in spotlight over suspected Iran sanctions breaches as U.S. prosecutors probe

Binance is under investigation by U.S. federal prosecutors over possible violations of sanctions against Iran. The probe is led by the Manhattan U.S. attorney’s office, with the Justice Department’s criminal division also reviewing the matter. Authorities are examining whether Binance overlooked certain transactions and are reviewing the company’s compliance system. The scrutiny follows a 2023 settlement in which Binance admitted violations and paid about $4.3 billion in penalties.