North Carolina-based David W. Schamens was charged in federal court with wire fraud, securities fraud and money laundering and could face decades in prison; the SEC also filed charges against him this week.
Investors are looking to music as a source of yield, as artists seek to monetize catalogues and streaming on-demand exceeds 2.7 trillion downloads globally.
Under the plan, federal agencies from Treasury to the Commerce Department will have to research a number of topics, including the pros and cons of the government launching a U.S. digital currency.
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