Crypto Crime Hits Record High, the Fed Relaxes Its Rules, Ohio Eyes Crypto Bucks, and Russia Plans an Oligarch On-Ramp

Crypto crime surged to new highs in 2024, with seniors hit hardest — that’s according to the FBI’s latest internet fraud report (0:37). Meanwhile, the Federal Reserve is rolling back crypto oversight (2:25), Ohio is pushing to accept Bitcoin for government services (3:54), and Russia is launching a tightly regulated crypto exchange for the elite (5:16).

This is your essential update on the forces shaping what’s next in money.

More on stories and articles mentioned or referenced in this episode:

FBI Releases Annual Internet Crime Report, Federal Bureau of Investigation.

https://www.fbi.gov/news/press-releases/fbi-releases-annual-internet-crime-report#:~:text=If%20you%20or%20your%20business,and%20contact%20local%20law%20enforcement.

Link to the full FBI Report (PDF):

https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf

Federal Reserve Board announces the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities, Board of Governors of the Federal Reserve System.

https://www.federalreserve.gov/newsevents/pressreleases/bcreg20250424a.htm

Paying with cryptocurrency? Ohio takes step toward accepting Bitcoin for state fees, by Jessie Balmert, Cincinnati Enquirer.

https://www.yahoo.com/news/paying-cryptocurrency-ohio-takes-step-193438468.html

Ohio House Bill 116:

https://www.legislature.ohio.gov/legislation/136/hb116

Ohio Senate Bill 57:

https://ohiosenate.gov/legislation/136/sb57

Russia Developing Cryptocurrency Exchange Limited to High-Net-Worth Investors, by Maisie Morrison, MoneyCheck.

https://moneycheck.com/russia-developing-cryptocurrency-exchange-limited-to-high-net-worth-investors/

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti