After pleading guilty to money laundering last November, former Binance CEO and founder is heading to prison. Thanks to cooperation with authorities and an exceptionally good profile built by the defense, the sentence, however, is much lighter than requested by prosecutors.

Founders of another privacy-focused crypto tool face charges for allegedly facilitating $2 billion in illegal transactions, including over $100 million in criminal proceeds. Evidence suggests Samourai Wallet developers knew their service was used for illicit purposes.

Plans to burn ill-gotten crypto that can't be returned to victims — instead of dumping it on the market — is attracting praise from some corners of the industry.

Coinbase's advocacy group recently reached 400,000 sign-ups. Together with Super PAC Fairshake, they've raised $86 million to lobby for industry interests and support the 'right' candidates in the upcoming elections.

The firm calls the penalty "draconian" and unjustified, arguing that a fine closer to $10 million would be more appropriate.

The bigger question relates to whether Tether would bow to Washington's sanctions if asked to do so — perhaps fearing recriminations on its other lucrative operations.

Progress may not happen soon. Just like London — which faces political uncertainty as an election looms — Washington is likely to grind to a standstill as the presidential battle heats up.

The world's biggest exchange has been forced to establish a formal headquarters. As we wait for an official decision to be made, let's look through the possible locations.