Regulation

In 2018, the world was shocked to learn that British political consulting firm Cambridge Analytica had harvested the personal data of at least 50 million Facebook users without their consent and used it to influence elections in the United States and abroad. An undercover investigation by Channel 4 News resulted in footage of the firm’s

Crypto exchange Binance US and its founder Changpeng Zhao (CZ) are reportedly looking for ways to reduce his stake in the firm, amid harsh scrutiny from United States federal regulators over the past year.  The crypto executive — Binance US’ majority owner — has reportedly been trying to reduce his stake in the U.S.-based exchange

The National Bank of Ethiopia (NBE) has issued a mobile money-service license to Safaricom M-Pesa Mobile Financial Service, it announced May 11. Previously, only Telebirr, part of the state-owned Ethio Telecom network, operated in that market. Kenya-based Safaricom was also the first company to break Ethio Telecom’s monopoly on Ethiopian mobile phone service in October,

Lawmakers in the European Union have forwarded legislation concerning artificial intelligence (AI) to the next phase after concluding a vote from two lawmakers’ committees. In a vote on May 11, Members of the European Parliament (MEPs) agreed to include banning the use of facial recognition in public spaces and predictive policing tools in the highly anticipated

The European Union has become the first major jurisdiction to pass a comprehensive crypto law, the Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty for the crypto industry and investors by establishing standard regulations and harmonized rules at the EU level.  MiCA may ultimately stifle innovation, impose a one-size-fits-all approach to regulation

Some members of the United States House of Representatives’ Financial Services and Agriculture Committees pointed to crypto asset frameworks being employed outside the country when discussing regulatory gaps at home. In a May 10 joint hearing on the future of digital asset regulation, some lawmakers pointed to the European Union’s Markets in Crypto Assets framework

United States President Joe Biden recently shared an infographic on Twitter, calling to end “tax loopholes” that allegedly help wealthy crypto investors. Community members responded to the tweet, questioning the figures shared by the president and if the said loopholes exist.  Cutting such loopholes would save about $18 billion, according to Biden. However, the president

The extended crypto winter has pushed crypto event organizers to tone down on the lavishness, allowing attendees to focus on asking more “intelligent questions” about regulation and tax. Crypto conferences attract all sorts from the crypto space, from founders and high-level executives to crypto influencers and everyday users. Tiffany Fong, a crypto vlogger who gained

Lawyers for NBA star Shaquille O’Neal, who previously endorsed the now-bankrupt crypto exchange FTX, have claimed two process servers inadequately delivered legal documents after previously failed attempts. In a May 8 filing for United States District Court in the Southern District of Florida, Shaq’s legal team said following “a failed motion to serve” the NBA

Coinbase legal chief has requested that the U.S. Securities and Exchange Commission (SEC) make several revisions to its proposed regulation on the responsibilities of registered investment advisers (RIAs) to store client assets with qualified custodians. Although the U.S. SEC acknowledges Coinbase Custody as a “qualified custodian,” Coinbase contends that the updated RIA custody rule unfairly

FTX founder and former CEO Sam Bankman-Fried (SBF) is seeking to have up to 10 criminal charges against him dismissed in court, arguing for several counts that there has been a failure to state an offense.  According to court documents filed in the southern district court of New York on May 8, SBF’s legal team

A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories.  According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train crash was discovered on

Ripple has spent $200 million defending the case brought against it by the United States Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse.  Garlinghouse said this during a fireside chat at the Dubai Fintech Summit on May 8. He stated that the U.S. is stuck compared to the progress with the crypto regulation in

Crypto-friendly Hong Kong is still gung-ho about giving its citizens access to crypto trading despite other jurisdictions “taking a step back,” claims the chair of the FinTech Association of Hong Kong (FTAHK). Speaking to Cointelegraph at the Hong Kong WOW Summit in March, FTAHK chair Neil Tan said while Singapore and the United States are

A Wells notice is not a final determination of guilt or wrongdoing, meaning that the recipient has the chance to respond and make a case before any administrative action is initiated. The Wells notice procedure, though, is a clue that the SEC is considering taking action, and how it turns out might have a big

Robert F. Kennedy Jr., who is challenging United States President Joe Biden for the Democratic nomination in the 2024 presidential election, has taken to Twitter again to share more of his thoughts on cryptocurrency. Kennedy criticized Biden on May 2 for calling the U.S. banking system “safe and sound” the previous day. “Today, bank stocks