Regulation

The first batch of blockchain use cases to debut in Europe’s regulatory sandbox was formally introduced on July 3, following a long wait and nearly 90 applications received in April. First disclosed in 2020, the initiative aims to bridge the regulatory gap between European nations and crypto companies. According to the European Commission, 20 projects

The Reserve Bank of India (RBI) is currently in dialogue with its counterparts from at least 18 other countries on the possibility of cross-border payments in the “digital rupee”.  The report about RBI’s ambitious foreign trade plans for the Indian central bank digital currency (CBDC), appeared in the Economic Times on June 27. It cites

Billionaire entrepreneur Mark Cuban has again locked horns with former securities chief John Reed Stark, this time over who was ultimately to blame for FTX’s collapse and the impact on creditors. During a heated back-and-forth exchange, Cuban argued had the United States Securities and Exchange Commission set “clear regulations,” no one would have lost money

The United Kingdom’s Financial Conduct Authority, or FCA, has announced that all cryptoasset firms marketing to users in the country must be in compliance with its financial promotions regime by October 2023. In letters dated July 4, the FCA said starting on Oct. 8, companies operating in the U.K. will have only “four routes to

The Chinese government has announced plans for export controls on metals predominantly used to manufacture semiconductors used in the development of artificial intelligence (AI) systems. On July 3, the Chinese Ministry of Commerce issued a joint statement with the General Administration of Customs which said the controls are aimed at protecting the interests of national

The co-founders of collapsed crypto hedge fund Three Arrows Capital (3AC) have pledged to donate a portion of earnings from their newest crypto venture to creditors who lost money in the fund’s 2022 collapse. In a July 3 Twitter Space, 3AC co-founder Kyle Davies said it would be “good karma” to “donate” the potential earnings

The United Kingdom’s Law Commission is pushing for the creation of a ‘distinct’ category of personal property to accommodate and protect unique features of cryptocurrencies and digital assets. The body made the recommendation alongside three other key points following a mandate from the British government to carry out a common law analysis unpacking how legal

Thailand’s Securities and Exchange Commission (SEC) has issued new rules for digital asset service providers focused on investor protection. The new guidelines require digital asset service providers to offer adequate warnings highlighting risks associated with cryptocurrency trading. All platforms must display a message that reads: “Cryptocurrencies are high risk. Please study and understand the risks

False rumors have again been spreading over the resignation of United States Securities and Exchange chair Gary Gensler — this time, however, artificial intelligence has seemingly played a part. On July 1, a news story appeared on a website dubbed “thecryptoalert.com” claiming that SEC chair Gary Gensler had “submitted his resignation following an internal investigation,”

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

Bittrex, a cryptocurrency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless

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

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

Cryptocurrency-friendly neobank Revolut is next to delist a batch of digital assets on its platform in the United States amid the ongoing regulatory developments in the country. Revolut is preparing to completely delist tokens like Cardano (ADA), Polygon (MATIC) and Solana (SOL) from its platform in September, a spokesperson for the firm told Cointelegraph. On

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

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,