Regulation

As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region. According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and

United States Senator Michael Bennet has urged tech companies to label AI-generated content and monitor any misleading content produced by artificial intelligence (AI).  In a June 29 letter sent to executives of major tech companies involved with AI, including ChatGPT creator, OpenAI, Microsoft, Meta, Twitter and Alphabet, Bennet stressed that users should be aware when

A federal court ordered crypto exchange Kraken to turn over account and transaction information to the Internal Revenue Service (IRS), which said it needed that information to see if any of the exchange’s users had underreported their taxes. As per the order issued on Friday, June 30, Kraken is required to provide details of users

The United States Securities and Exchange Commission (SEC) will present its response to Coinbase’s first legal defense on July 13, according to a court order issued on Thursday, June 29. In a legal document filing, the SEC submitted a request to the court for a three-business-day extension. This extension was sought to provide the SEC

An open letter to lawmakers in the European Union was issued by more than 160 executives from tech companies around the world urging careful consideration of artificial intelligence (AI) regulations not to stunt the industry or markets. On June 30, executives from companies such as Renault, Meta, Spanish telecom company Cellnex and German investment bank

South Korea’s government is taking steps to protect cryptocurrency investors from implosions like Do Kwon’s Terra ecosystem tokens by passing a new crypto bill. The parliament of South Korea on June 30 passed the Virtual Asset User Protection legislation. The bill is designed to regulate unfair trade practices and protect crypto investors, the local news

Three committee chairs in the United States House of Representatives have sent a letter to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler demanding a more satisfactory response to their Nov. 1 letter regarding the SEC chairman’s and the agency’s compliance with recordkeeping requirements.  Judiciary Committee Chair Jim Jordan, Oversight Committee Chair James Comer

Imagine your daily commute to work, uninterrupted by traffic lights or stop signs, allowing you to sail smoothly. Suddenly, a new red stop sign disrupts your route, turning a main intersection into a four-way stop overnight. That evening, a letter from local law enforcement shocks you with a hefty retroactive fine for every time you

Open AI, the maker of the very popular chatbot ChatGPT, a natural language processing artificial intelligence (AI) tool, is facing a class-action lawsuit in California over the alleged scrapping of private user information from the internet.  The lawsuit was filed in a federal court in the northern district of California on Wednesday morning by Clarkson,

In the latest episode of The Market Report, analyst and writer Marcel Pechman analyzes some data to conclude whether Bitcoin (BTC) will ever trade at $27,000. Some analysts attribute Bitcoin’s recent 21.5% gains to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing, but other events might have also fueled the cryptocurrency gains. Pechman asserts that, following

The European Commission announced on June 28 that it has proposed a legislative plan for a digital euro, aiming to make it a widely accepted and easily accessible form of payment. The announcement emphasized that allowing individuals to obtain digital euros through their banks upon request ensures easy accessibility and prevents anyone from being left

A federal judge overseeing the case against former FTX CEO Sam Bankman-Fried (SBF) has denied motions from his legal team seeking to dismiss all but three criminal charges against him. In a June 27 filing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan issued a memorandum opinion

Following the filing of a cease and desist order, Nevada’s Financial Institutions Division has again moved against crypto custodian Prime Trust by petitioning for the appointment of a receiver. In a June 26 filing, the regulator petitioned the Eighth Judicial District Court of Nevada for a temporary restraining order and an order appointing a receiver

ARK Investment Management, a pro-Bitcoin (BTC) firm founded by veteran investor Cathie Wood, is reportedly ahead in the race for a spot BTC exchange-traded fund. In mid-June, the investment firm BlackRock filed an application for a spot Bitcoin ETF, triggering notable optimism on cryptocurrency markets. A number of reports suggested that BlackRock could become the

Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto. During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director of blockchain and digital assets at Commonwealth Bank (CBA) shed light on the bank’s restrictions

A federal judge overseeing the lawsuit between Binance.US, Binance Holdings Limited and CEO Changpeng “CZ” Zhao and the United States Securities and Exchange Commission (SEC) has denied a motion that could have stopped the financial regulator from issuing public statements related to the case. In a June 26 ruling in the U.S. District Court for