FT News Briefing UK uncovers criminal crypto network
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Dec 5, 2024 Donald Trump has chosen cryptocurrency advocate Paul Atkins to lead the SEC, potentially reshaping regulations in the crypto space. Meanwhile, political unrest in South Korea and France has captured attention. A major UK investigation has unveiled a massive money laundering operation linked to organized crime, connecting European drug traffickers and Russian hackers. This podcast also highlights the murky ties between cryptocurrency and global crime networks, alongside Google's new AI weather forecasting model that outstrips traditional methods.
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Trump's SEC Pick
- Donald Trump nominated Paul Atkins, a cryptocurrency advocate, to chair the SEC.
- This appointment suggests a potentially more relaxed regulatory approach towards Wall Street and cryptocurrencies under the Trump administration.
South Korean Political Turmoil
- South Korean President Yoon Suk-yeol's attempt to declare martial law backfired.
- Parliament blocked the order, highlighting the political risks and instability in South Korea.
French Government Collapse
- French Prime Minister Michel Barnier was ousted in a no-confidence vote over his controversial budget.
- This led to the collapse of the French government, marking the first such instance since 1962.