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Bancolombia to Offer Crypto Trading in Financial Regulator’s Pilot Program – Regulation Bitcoin News

Bancolombia to Offer Crypto Trading in Colombian Regulator's Pilot Program

Bancolombia, Colombia’s largest bank, will be offering cryptocurrency trading to customers in a pilot program within a regulatory framework established by the country’s financial regulator, the Superintendencia Financiera de Colombia (SFC). Customers of the Colombian bank will be able to trade bitcoin, ether, litecoin, and bitcoin cash.

Bancolombia to Offer Cryptocurrency Trading to Customers in Regulatory Sandbox

Bancolombia, the largest bank in Colombia by total assets, is set to offer cryptocurrency trading to customers in partnership with cryptocurrency exchange Gemini, a New York trust company and custodian regulated by the New York State Department of Financial Services.

Cynthia Del Pozo Garcia, the exchange’s principal of strategy & corporate development, announced Monday that starting Dec. 14:

Gemini and Bancolombia will launch a partnership to provide an initial cohort of customers of the Colombian bank a seamless on- and off-ramp to trade bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH) through the Gemini exchange.

The partnership with Bancolombia “also serves as an important step toward the strategic expansion” of its presence in Latin America, Gemini noted.

The exchange added:

Our partnership is part of a one-year pilot program run by Colombia’s financial regulator, the Superintendencia Financiera de Colombia (SFC), and will offer users seamless and secure access to crypto.

In January, the Superintendencia Financiera de Colombia announced that nine crypto initiatives will be allowed to test their products within the La Arenera regulatory sandbox.

Besides the Bancolombia and Gemini partnership, other partnerships in the sandbox are Banco de Bogotá and Bitso; Banco de Bogotá and Buda; Coltefinanciera and Obsidiam; Davivienda and Binance; Powwi and Binance; Coink and Banexcoin; Movii and Panda; and Movii and Bitpoint.

Do you think all banks should offer cryptocurrency trading? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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England could start Ashes without both Anderson and Broad


England are considering starting their Ashes campaign without both their all-time leading wicket-takers after naming a 12-man squad this morning.

It was confirmed James Anderson is rested for the opening Ashes Test and it is a choice between Stuart Broad or Jack Leach for the final place in the XI.

Ollie Pope replaces Jonny Bairstow for the last batting position as England opt for potential over experience.

The Gabba pitch is green and England are tempted to pick five seamers but have given themselves the option of the left-arm spinner as well, recognising their attack lacks variety.

If Leach plays, Telegraph Sport understands it will be at the expense of Broad and would be the first time for five years that England have gone into a Test without him and Anderson in the team.

The last time was in Dhaka, in October 2016, when Anderson was injured and England picked three spinners on a turning pitch. They have played 124 Tests together since they were picked in Wellington in 2008. But it is not a surprise England are considering taking a different course for this game. Broad is returning after a long lay off from an ankle injury and Anderson is being held back for the Adelaide pink ball Test.

Anderson is 39 and Broad 35 and both need bowling to build up their stamina for Test cricket but the wet start to England’s tour significantly limited their preparation time. It also a sign the mantle has passed from Broad to Ollie Robinson as first choice pick for the new ball. Robinson was the breakthrough star of the summer while Broad has taken just ten wickets this year in six Tests.

Anderson arrived on tour with a niggle in his calf that prevented him bowling for two weeks. He has fully recovered and bowled a long spell in the nets in Brisbane on Tuesday and on Monday but England want him fully fit for the two day-night matches.

Cricket Australia stripped Perth of the fifth Test on Monday and put the match out to tender on Tuesday to the other states but with the condition it has to be a floodlit game.

“Jimmy is fit to play, and is not carrying an injury. With five Tests in six weeks the plan was to get him ready for the second Test in Adelaide,” said an England spokesman.

“With the limited build-up we have had so far on the tour, both him and the management didn’t want to take the risk of him playing after what had happened in 2019 at Edgbaston, when he broke down on the first morning. He bowled at full capacity yesterday for just short of an hour and was in a good place physically.”

Bairstow is dropped after playing all four Tests against India last summer when, despite some good starts, he made only one half century and failed to make the big score that would have ensured a decent run in the team.

Pope played at the Oval when Bairstow took the gloves in place of Jos Buttler, who was on paternity leave, and scored 81.

But when Buttler returned for the Old Trafford Test England decided to stick with Bairstow over Pope, although the match was ultimately cancelled due to the Covid outbreak among the India backroom team.

Bairstow has struggled for touch and to adapt since he arrived in Australia from the Twenty20 World Cup, while Pope has benefitted from being here longer and the extra time to adjust. Bairstow was out first ball in the intra-squad warm up game last week.

Pope has long been tipped as an heir to Joe Root’s status as England’s best batsman but a combination of two severe shoulder injuries and lack of consistency have held him back. The true pitches in Australia should suit his game with less lateral movement and pace on the ball but he is sure to face a proper short ball examination for the first time with the Australia track certain to test his nerve with the bouncer. 

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David Perdue on Georgia governor bid: I got in to ‘stop’ Stacey Abrams

COLUMBUS, GA - DECEMBER 11: U.S. Senator David Perdue speaks at a Defend The Majority campaign event attended by U.S. Vice President Mike Pence on December 17, 2020 in Columbus, Georgia. (Photo by Elijah Nouvelage/Getty Images)

Former U.S. Sen David Perdue, R-Ga., declared he is challenging Peach State Gov. Brian Kemp in the 2022 Republican primary, telling Fox News in his first interview since the announcement that the incumbent has lost the confidence of Georgians and that moreover he must stop left-wing former State Rep. Stacey Abrams, the current Democratic primary front-runner.

Perdue, who was almost immediately endorsed by former President Donald Trump, becomes the second top-name Republican to oppose Kemp in the primary race, after former State Rep. Vernon Jones – who switched parties in support of the ex-president – declared a bid earlier this fall.

Perdue told “Hannity” that Abrams – who declared a Democratic bid last week – wants to turn Georgia into a “failed state” like Gov. Gavin Newsom has done in California.

He pointed to host Sean Hannity’s montage of mobs of looters in San Francisco and Oakland areas, saying Abrams will allow such criminality to descend upon cities like Atlanta back home.

COLUMBUS, GA – DECEMBER 11: U.S. Senator David Perdue speaks at a Defend The Majority campaign event attended by U.S. Vice President Mike Pence on December 17, 2020 in Columbus, Georgia. (Photo by Elijah Nouvelage/Getty Images)
((Photo by Elijah Nouvelage/Getty Images))

“I got in [the race] to stop Stacey Abrams and save our state,” said Perdue, who lost a runoff earlier this year to retain his seat against current Sen. T. Jon Ossoff, D-Ga.

“It is a sad state of affairs that our current governor has lost the confidence of many Republicans. But Sean, I’m excited — this has been a great day since our announcement this morning.”

He publicly thanked Trump for his endorsement and said he will “stand in the breach” to protect Georgia from becoming San Francisco.

Perdue is also the cousin of former Trump Ag Secretary Sonny Perdue – himself a onetime Georgia Republican governor.

Perdue told Hannity there is plain video evidence that Abrams lied recently when she claimed on MSNBC that she did not challenge the election results of 2018 when Kemp narrowly defeated her.

Abrams stated in a broadcasted speech in November 2018 that her address was “not a concession” to Kemp, saying plainly at another point: “We won. I’m not saying they stole it from me, they stole it from the voters of Georgia.”

Hannity noted that the press has lambasted a number of Republicans who claimed President Biden robbed Trump of a win, but have alternatively stayed largely silent on Abrams’ similar claim.

“Look, Stacey Abrams on her side complained about the election. We’ve seen irregularities in this election. What the people of Georgia want is voter integrity,” Perdue replied.

Stacey Abrams called Georgia Gov. Brian Kemp's decision to reopen the state's economy in the midst of the coronavirus pandemic "Dangerously incompetent." 

Stacey Abrams called Georgia Gov. Brian Kemp’s decision to reopen the state’s economy in the midst of the coronavirus pandemic “Dangerously incompetent.” 

“They want to know that our democracy when they vote is going to count and not be stolen pay let’s be very clear. Stacey Abrams is not interested in Georgia. She wants to become president of the United States for this is Democratic Party’s way of showcasing her.”

Perdue added that he wants to however look forward and not backward and unlike Abrams, offer a promising vision for the Peach State.

“I [also] want to fight Biden at every turn on these silly mandates,” he said, adding that he will not do as Kemp did and enter into an electoral-policy “consent decree” with the opposition.

Former college football star and current senatorial candidate Herschel Walker speaks at a rally, as former U.S. President Donald Trump applauds, in Perry, Georgia, U.S. September 25, 2021. REUTERS/Dustin Chambers

Former college football star and current senatorial candidate Herschel Walker speaks at a rally, as former U.S. President Donald Trump applauds, in Perry, Georgia, U.S. September 25, 2021. REUTERS/Dustin Chambers

“Over my dead body will we ever do what Kemp did [and] turn our elections over to Stacey Abrams. We will never let that happen again.”

Perdue added that a Perdue-Abrams contest would offer a stronger possibility than with Kemp that Republican voters turn out to support retired Dallas Cowboys running back Herschel Walker in his bid against Sen. Raphael G. Warnock – who will be seeking his first full term after defeating Kelly Loeffler in the January runoff.

Host Sean Hannity went on to add that, in terms of Biden’s opposition to Georgia’s new election law, the president’s home state of Delaware has stringent voter identification standards which have gone unnoticed by Abrams, who has roundly criticized Georgia’s new policy.

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New Hampshire college student found dead in woods after drinking with friends, police say

Vincenzo Lirosi

A University of New Hampshire student was found dead in the woods Sunday afternoon a day after he was reported missing, police said. 

The Durham Police Department said it was first notified early Saturday that 22-year-old Vincenzo Lirosi had gone missing. 

Vincenzo Lirosi
(Durham, New Hampshire, Police Department)

Police said Lirosi had been out drinking with his friends before going missing and had no phone or any identification with him. He was believed to have taken a path through a wooded area near Woodman Road as a shortcut to his residence, police said. 


Lirosi was last seen between 1 and 1:30 p.m. Saturday, and was reported missing just a couple of hours later, police said. 

Lirosi's address at 9 Woodman Road, Durham, NH, according to police. 

Lirosi’s address at 9 Woodman Road, Durham, NH, according to police. 
(Durham, New Hampshire, Police Department)

A New England Search and Rescue K-9 team found Lirosi’s body in a marshy area off of Coe Drive in Durham, police said. 

Multiple law enforcement agencies, including New Hampshire State Police, New Hampshire Fish and Game, and the University of New Hampshire Police Department, assisted in search efforts. 

Police said Lirosi’s family has been notified. 

“Though this is not the outcome we had all hoped for, we are grateful that we were able to find Vincenzo and bring some closure to his family,” Durham Police Chief Rene Kelley said in a statement.  


Lirosi’s friend, Jordan Blanchard, told the local outlet WMUR-TV that Lirosi had left a fraternity party – where he reportedly got into a fight – before going missing. 

“It’s pretty uncharacteristic of him,” Blanchard told the station. “This is his first fight ever.” 

Fox News could not independently confirm that Lirosi had been in a fight prior to his disappearance. 

University of New Hampshire

University of New Hampshire

“This is a very sad day for our community and right now we are focused on providing the support and resources needed for everyone who knew him or is impacted by his death,” the University of New Hampshire said in a statement

Chief Kelley told Fox News that an autopsy report from the Medical Examiner’s office is pending and results are expected in six weeks or more. He said foul play “has been ruled out.”

The university said state and local authorities are continuing to investigate Lirosi’s death, but it is “not believed to be suspicious” at this time. 


The University of New Hampshire Police Department said it was “deeply saddened by the loss of Vincenzo.” 

“Whether you knew him or not, he was one of us; please take care of yourselves and one another,” the department said. “Reach out for help, be kind to one another and know that he is #ForeverAWildcat.” 

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Crypto Exchange Binance Is Making ‘Substantial Changes’ to Become ‘Fully Licensed and Fully Compliant’ in UK – Bitcoin News

Crypto Exchange Binance Is Making 'Substantial Changes' to Become 'Fully Licensed and Fully Compliant' in UK

Cryptocurrency exchange Binance has unveiled its plan to become a “fully licensed and fully compliant” exchange in order to serve users in the U.K. The crypto exchange is reportedly “making a number of very substantial changes” in the way it operates in order to comply with the country’s regulator, the Financial Conduct Authority (FCA).

Binance Plans to Launch a Fully Licensed Crypto Exchange in the UK

Binance is working to become a fully licensed and fully compliant cryptocurrency exchange in order to launch in the U.K. where it recently ran into trouble with the Financial Conduct Authority (FCA).

The exchange’s CEO, Changpeng Zhao (CZ), said in an interview with The Telegraph that Binance will reapply for a license with the FCA. He believes that his exchange’s relationship with the British regulator has improved. He told the news outlet:

We’re fully re-engaged there … We’re making a number of very substantial changes in organizational structures, product offerings, our internal processes, and the way we work with regulators.

The U.K. Financial Conduct Authority issued a consumer warning on Binance in June stating that no entity “in the Binance Group holds any form of U.K. authorization, registration or license to conduct regulated activity in the U.K.” In August, the FCA said that Binance was no longer in violation of its rules but noted that the company has not applied for a license to operate a crypto exchange.

“We want to continue to establish a presence in the U.K. and serve U.K. users in a fully licensed and fully compliant manner,” Zhao emphasized, adding that Binance hopes to become a registered crypto asset firm in six to 18 months.

Following the warning by the FCA, several major banks in the U.K. began restricting payments to Binance, including Barclays, HSBC, Natwest, and Santander.

Besides the FCA, a number of other regulators have issued warnings of various kinds about Binance, including regulators in the U.S., South Africa, Singapore, Australia, Norway, Netherlands, Hong Kong, Germany, Italy, India, Malaysia, and Lithuania. In August, Binance said it was making regulatory compliance its top priority.

Zhao further shared with the publication that when regulators asked Binance “a very simple question: ‘Where’s your headquarters?’ and our response was that we have no headquarters, that we’re a decentralized organization, they didn’t know how to work with us.” The CEO concluded:

We understand that now. So now we’re in the process of setting up real offices, legal entities, a proper board, proper governance structures in most places, including the U.K.

What do you think about Binance launching in the U.K. after regulatory trouble with the FCA? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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The FA pledge £3.6m to dementia research targeting recently retired players


Football’s governing bodies have committed £3.6 million to new research and clinical advice for recently retired former players who face an elevated risk of dementia.

The funding, which forms part of a new “brain health action plan” that has been agreed by English football’s main stakeholders, will include support towards a new project led by Prof Willie Stewart, the Glasgow neuropathologist who proved football’s dementia link.

Stewart, alongside Prof Craig Ritchie of the University of Edinburgh, will work with a group of Scottish ex-professionals to examine potential interventions that could modify risk across all contact sports.

“We need to pursue research to understand what is happening in their brains to try to identify possible targeted therapies,” said Stewart. “But, while doing so, we should also act to try to mitigate risk. The alternative, doing nothing, means we are in effect leaving them to fate.”

Stewart has also urged the authorities to consider seriously whether heading is fundamental to football’s long-term existence.

Dr Charlotte Cowie, the Football Association’s head of performance medicine, believes that there are “modifiable factors that could make a difference to the ultimate outcome”. There are 12 known potential risk factors for dementia, including head impacts, but also issues such as high blood pressure and social isolation.

The study will receive £1.2 million of funding, while a further £2.4 million will go towards allowing former footballers to access the new advanced brain health clinics that the Rugby Football Union announced last month. There is enough initial funding to support 200 former footballers over a period of six years.

It all follows a letter to the FA this year by a group of prominent ex-players, including Alan Shearer, Stuart Pearce, Terry Butcher, Micah Richards, Gary Pallister and Emile Heskey, which outlined their concerns and called for a new national strategy.

The FA is also promising an awareness campaign on concussion and its heading guidance, which recommends no more than 10 training headers per week in grass-roots football and no more than 10 “higher” force headers among professionals. There is an acceptance that enforcing this guidance is impossible but it is hoped that coaches and players will come to understand their precautionary importance.

Permanent concussion substitutes are being trialled but Cowie said that the FA remained open to the sort of temporary replacements used in rugby union. “There is an argument both ways – we are not wedded to permanent,” she said.

Maheta Molango, the Professional Footballers’ Association chief executive, said that dementia in football should be “the top priority for all involved” in the national game. Dawn Astle, whose father Jeff died 20 years ago next month, said that she was delighted by the progress. “We hope that this issue is finally being made the priority that it should be,” she said.

The Premier League has this season implemented Hawk-Eye video replays to support head injury assessment and has signed up to the new action plan, along with the FA, the PFA and English Football League.

The possibility of a long-term care fund, which would provide financial support to the hundreds of families in acute need, is also being considered.

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Robert Lewandowski takes aim at Lionel Messi over Ballon d’Or comments


Robert Lewandowski takes aim at Lionel Messi over Ballon d’Or comments


A fresh set of comments on the part of Bayern Munich star Robert Lewandowski have surfaced on Monday evening, in which the Pole, in no uncertain terms, appears to take aim at Ballon d’Or winner Lionel Messi.

Messi bags number 7

The subject of the ‘Golden Ball’ has of course dominated headlines across the globe over the course of the last week.

This comes after the latest edition of the award, widely considered as the most prestigious individual prize in world football, was handed out for the year of 2021.

In the end, Lionel Messi emerged triumphant, pipping the aforementioned Robert Lewandowski to top spot, and etching his name ever further into the history books of football in the process.

‘Like it to be sincere…’

The aftermath of last week’s ceremony, however, has seen many raise concerns with the Ballon d’Or, and specifically Messi’s credentials for this year’s accolade.

In turn, speaking in an interview with Kanale Sportowym in his home country of Poland (as cited by Marca) on Monday, Lewandowski, the player viewed as most deserving of the prize in the eyes of many, was asked for his take on the situation.

And the Bayern standout went on to admit that he was left altogether disappointed by the outcome of the ceremony:

‘I felt sadness. I can’t deny it.’

‘I can’t say I was happy, on the contrary. I have a feeling of sadness. To be so close, to compete with Messi, of course I respect how he plays and what he has achieved. The mere fact that I was able to compete with him shows me the level that I was able to reach.’

Robert Lewandowski takes aim at Lionel Messi over Ballon d’Or comments

MUNICH, GERMANY – DECEMBER 16: (BILD ZEITUNG OUT) Robert Lewandowski of Bayern Muenchen gestures during the Bundesliga match between FC Bayern Muenchen and VfL Wolfsburg at Allianz Arena on December 15, 2020 in Munich, Germany. (Photo by Harry Langer/DeFodi Images via Getty Images)

It was Lewy’s ensuing comments, however, which will no doubt go on to cause quite a stir in the media over the days ahead.

This comes with the 33-year-old, after being drawn on Messi’s suggestion that France Football should hand last year’s Ballon d’Or – not awarded owing to the Covid-19 pandemic – to Lewandowski, having labelled the Argentine’s gesture as ’empty words’:

‘I’m not that enthusiastic about getting the 2020 award.’

‘I would like it [Messi’s 2020 Ballon d’Or statement] to be a sincere and courteous statement from a great player and not just empty words.’


Manchester United’s Cristiano Ronaldo, Lionel Messi & more nominated for ‘TikTok Fans’ Player of the Year’ award

Lionel Messi’s humble response to best in the world talk


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Bette Midler Calls For Trump To Be Arrested And Charged With Attempted Murder

Bette Midler Calls For Trump To Be Arrested And Charged With Attempted Murder

As might be expected, Trump Derangement Syndrome still has a tight grip on the vocal far left of the Hollywood elite – especially Bette Midler.

Last week, the U.K. Guardian printed excerpts from Meadows book, “The Chief’s Chief,” where he told the story of Donald Trump receiving a false positive for COVID prior to the final presidential debate during the 2020 election.

RELATED: Rand Paul On Fauci: Live Your Life And Ignore This Man

The Real Story

This excerpt from Meadows’ book was apparently just too much for Bette Midler, who tweeted that Donald Trump should be charged with attempted murder. Of course Midler and the rest of the media could not bother themselves with something as trivial as actually reading the excerpt of what actually took place.

There was also a whirlwind of fake news headlines claiming that Trump “knew” he had tested positive. 

According to Meadows’ book, Trump was on his way to the debate when he initially tested positive.

There were two tests administered, one an older version and the other a newer version called Binax. While the older test was the one that had produced the positive result, the newer Binax test showed a negative result. The newer test was more accurate.

RELATED: New York City Announces COVID Vaccine Mandate On Private Employers

A Dubious Track Record

Fortunately, not very many people consider Bette Midler a reliable news source. But tweets based on whatever sludge pours from her head are not new.

In October of 2019, in a disagreement over something Sen. Rand Paul said of a proposal of U.S. troops being withdrawn from Syria by President Trump, she praised Paul’s neighbor who had attacked him in 2017.

Because of the attack, part of one of Paul’s lungs was removed. Midler found that perfectly acceptable.

I DO NOT promote violence but… Rand Paul says the Kurds are being “ingrates” for taking their frustrations out on US troops. Which is a good reminder for us all to be more grateful for the neighbor who beat the shit out of Rand Paul.

— Bette Midler (@BetteMidler) October 24, 2019

Midler also seemed to take issue with the judge in the Kyle Rittenhouse case. While it should be common knowledge by now that Rittenhouse, who was white, shot three men, who were also white, so there isn’t much of anything that had to do with race. But that didn’t stop her from retweeting someone who wondered how the judge got his black robe on over the white one.

She then went on to essentially defend the three felons, including a child rapist that Rittenhouse killed.

RELATED: Bette Midler Curses Out Kayleigh McEnany: ‘Go F*** Yourself’

Rules For Thee But Not For Me

While Hollywood liberals like Better Midler have free reign to say whatever they like, it is a whole different story if you happen to work in Hollywood and be a conservative.

A report from The Hill from March of 2020, likens conditions for Tinseltown conservatives to 1950’s blacklisting of those suspected of having communist sympathies. How times have changed.

Actor Antonio Sabato Jr described what happened to him after he publicly endorsed Donald Trump. He says it basically ended his career.

“I had to sell everything … I had to pay all my debts. I was blacklisted. All my representatives left me, from agents to managers to commercial agents. I literally had to move, find a new job to survive and take care of my kids. It’s been terrible. It’s mind-blowing. It’s a disgrace. It’s tough, because if you’re in that environment in Hollywood and you have something to say that they don’t like, they’re going to let you know.”

Even those behind the camera are not safe. Crew members work under aliases, and at least one make-up artist said that long-time clients would no longer hire her after they learned she was a Republican. 

Bette Midler and others like her will continue to comment on issues they know nothing about, and social media will continue to marvel at how clever they are. Michael Jordan once said, “Republicans buy sneakers too.”

Hey Bette, Republicans buy movie tickets, too. But maybe they should think twice before dropping twenty bucks on “Hocus Pocus 2.”

Now is the time to support and share the sources you trust.
The Political Insider ranks #15 on Feedspot’s “Top 70 Conservative Political Blogs, Websites & Influencers in 2021.”

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White House warns art world rife with money laundering as Hunter Biden sells paintings for $500,000

Hunter Biden, the son of President Biden, attends his father's inauguration as 46th president on Jan. 20, 2021, at the U.S Capitol in Washington, D.C. 

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The White House is warning that the art world is fertile ground for money laundering and other financial crimes at the same time that the president’s son, Hunter Biden, is raising eyebrows by selling paintings for up to half a million dollars despite lacking any formal art experience. 

The Biden administration released a national strategy to counter corruption on Monday, the first initiative of its kind as the White House noted in its introduction. 

The White House document touches on the corruption-rife art world, noting that the “markets for art and antiquities — and the market participants who facilitate transactions — are especially vulnerable to a range of financial crimes.”


Hunter Biden, the son of President Biden, attends his father’s inauguration as 46th president on Jan. 20, 2021, at the U.S Capitol in Washington, D.C. 

“Built-in opacity, lack of stable and predictable pricing, and inherent cross-border transportability of goods sold, make the market optimal for illicit value transfer, sanctions evasion, and corruption,” the strategy reads.

The White House’s acknowledgement of money laundering in art world comes as the administration has taken criticism from ethics experts over the art sales involving the younger Biden’s work.

Carrying price tags between $75,000 and $500,000, scrutiny has plagued Biden’s first foray into the art world particularly due to his lack of formal art experience.

The White House has long stated that it has an ethics plan in place for the president’s son to ensure that he is kept in the dark on who is buying his art.

Then-Democratic presidential nominee Joe Biden and his son Hunter celebrate onstage at his election night rally. Hunter has faced scrutiny for selling high-priced art despite no formal art experience. 

Then-Democratic presidential nominee Joe Biden and his son Hunter celebrate onstage at his election night rally. Hunter has faced scrutiny for selling high-priced art despite no formal art experience. 
(REUTERS/Jim Bourg)


That plan appears to largely have been in name only, as Biden has appeared at his art shows where potential buyers lurked.

The White House did not immediately return Fox News’ request for comment.

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Stocks making the biggest moves midday: American Airlines, Kohl’s, Lucid Group and more

Stocks making the biggest moves midday: American Airlines, Kohl's, Lucid Group and more

A jet from American Eagle, a regional branch of American Airlines (AA), takes off past other AA aircraft at Ronald Reagan Washington National Airport in Arlington, Virginia, December 3, 2021.

Chris Helgren | Reuters

Check out the companies making headlines in midday trading.

Airlines — Airline stocks rose on Monday as stocks linked to the recovering economy boosted the major averages. American Airlines rose 7.9%, United Airlines added 8.3%, and Delta Air Lines popped 6%. Alaska Air Group rallied 4.2%.

Cruise line and casino stocks — Norwegian Cruise Line rose 9.5% and Carnival rallied 8.1% as reopening plays charged higher. Las Vegas Sands gained 7.2%. MGM Resorts and Wynn Resorts rose 5.1% and 6%, respectively.

Kohl’s — Shares of the retailer rallied 5.4% following news that activist investor Engine Capital is recommending that Kohl’s consider either a sale of the company or a separation of its e-commerce business. 

GCP Applied Technologies — Shares of GCP Applied Technologies soared 17.1% after the maker of specialty construction chemicals agreed to be acquired by French construction company Saint-Gobain for $32 per share in cash, or about $32 billion. 

Lucid Group —Shares of the electric vehicle start-up dropped 5.1% after news that the company received a subpoena on Friday from the Securities and Exchange Commission “requesting the production of certain documents related to an investigation.” Lucid is the latest EV start-up to go public via a SPAC deal to be investigated by the SEC.

Wells Fargo — Shares of Wells Fargo rallied 2.3% after Morgan Stanley upgraded the stock to overweight from equal weight. Morgan Stanley said Wells is the most asset-sensitive stock in its coverage and higher fed funds futures warrant an upgrade. The firm named Wells a top 2022 pick.

Spirit Airlines — Shares of the discount airline rallied 6.1% after Evercore ISI upgraded Spirit to outperform from in line. Evercore said in its upgrade that it sees “see strategic optionality as company execution and demand improve.”

MicroStrategy – Shares of the business analytics software company dropped 5.5% on the heels of bitcoin’s sell-off over the weekend. MicroStrategy holds billions of dollars‘ worth of bitcoin on its balance sheet, so the company’s stock is sensitive to fluctuations in the world’s largest cryptocurrency’s price.

Alibaba — The Chinese internet giant’s shares jumped 10.4% after the company announced a reorganization of its international and domestic e-commerce businesses. Alibaba also said it will replace its CFO.

Boston Beer — Shares of the beverage maker rose 6.9% after Cowen upgraded Boston Beer to market perform from underperform. Cowen said in its upgrade of the beer company that the valuation re-rating is likely complete.

— with reporting from CNBC’s Yun Li, Pippa Stevens and Hannah Miao.

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