The Indian government recently made headlines with the announcement of a new regulation concerning the development and release of artificial intelligence (AI) tools. This regulation requires technology companies to obtain government approval before publicly releasing AI tools that are still in the development stage or are deemed “unreliable.” The move is part of India’s larger
Regulation
Recently, Hong Kong’s Securities and Futures Commission (SFC) raised an alarm against suspicious websites that are posing as licensed crypto exchanges within the city-state. The warning highlighted the deceptive tactics employed by these websites, which impersonate legitimate entities like Hash Blockchain Limited and OSL Digital Securities Limited. These fraudulent websites have managed to mislead unsuspecting
Hungary is making waves in the financial sector with a proposed legislative initiative that would allow banks, investment funds, and asset managers to offer services in Bitcoin and other cryptocurrencies. This move aligns with the broader European trend towards embracing digital assets and could have significant implications for the country’s economy. The draft legislation, put
Senator Elizabeth Warren has made it clear that she is open to engaging with the crypto industry, but only under the condition that regulatory standards are upheld. She expressed her willingness to collaborate with the industry, as long as players in the space are willing to adhere to regulations similar to those that govern traditional
A group of Senate Republicans, led by Senator Ted Cruz of Texas, has taken legislative steps to limit the Federal Reserve’s ability to introduce a central bank digital currency (CBDC). This move brings attention to the issue as a possible focal point in the 2024 presidential campaign discussions. The proposed bill, known as the Central
The Energy Information Administration (EIA) made the decision to pause the controversial survey of crypto mining firms on Feb. 23 after facing a lawsuit from members of the crypto mining sector. This lawsuit was brought forward by crypto mining company Riot Platforms and the Texas Blockchain Council on Feb. 22. The lawsuit named the EIA,
The warning issued by House Majority Whip Tom Emmer on Feb. 22 highlighted a concerning development for Bitcoin mining firms under the Biden administration. Emmer’s letter to the Office of Management and Budget (OMB) raised alarm about the approval and expedited implementation of a new information collection regime by the Energy Information Administration (EIA) targeted
South Africa has recently unveiled plans to integrate digital payments and cryptocurrencies into its financial system with the aim of boosting the economy, particularly for marginalized groups. This announcement, which was made as part of the country’s 2024 budget, underscores the government’s commitment to building a digital economy through collaborative efforts between the public and
In a recent development, Ladan Stewart, a key member of the US Securities and Exchange Commission (SEC), has resigned from her position to join a pro-crypto law firm. This move has raised eyebrows in the legal and cryptocurrency communities, as Stewart was a Regional Trial Counsel in the SEC’s Crypto Assets and Cyber Unit. Stewart
Recently, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, criticized Binance for allegedly manipulating exchange rates and usurping the role of the Central Bank of Nigeria (CBN). Onanuga claimed that platforms like Binance were causing the devaluation of the national currency and called for a ban on cryptocurrencies in the country. This accusation
The Hong Kong Monetary Authority (HKMA) recently announced new regulatory standards for the sale and distribution of tokenized financial products by authorized institutions. This move is aimed at fostering innovation while ensuring robust consumer protection in the field of tokenization. The guidelines define the scope of tokenized products falling under this regulatory framework, excluding those
As the general elections approach in South Korea, the ruling People Power Party (PPP) has announced its plans to advocate for a further two-year delay in the implementation of cryptocurrency taxation. This strategic move was unveiled during a press conference on February 19, where party officials highlighted the importance of establishing a robust regulatory framework
With the anticipation of the Bitcoin ETF approval, there is a growing concern among investors regarding the potential shift towards centralized custody by major institutions such as Goldman Sachs and JP Morgan. While many in the Bitcoin community welcomed the ETF approval as a bullish sign, there is a looming threat of counterparty risk that
The US Security and Exchange Commission’s (SEC) Office of Inspector General (OIG) is currently conducting an investigation into cryptocurrency-related financial conflicts of interest. This investigation was prompted by Empower Oversight, an accountability group that recently revealed concerns regarding the SEC’s Ethics Office and a former official named William Hinman. In a statement released on Feb.