Regulation

United States-founded cryptocurrency exchange Coinbase has no plans to move its operations out of the U.S., CEO Brian Armstrong told investors in an Q1 earnings call. On May 5, Armstrong assured shareholders the firm is “100% committed” to the U.S. market over the long term despite regulatory uncertainty in the U.S. “So let me be

The United States vice president and President Biden’s top advisors have held a meeting with several AI industry CEOs to discuss “concerns about the risks associated with AI.” On May 4, U.S. vice president Kamala Harris was joined by nine top Biden administration advisors in science, national security, policy and economics, meeting with the CEOs

Terraform Labs is seeking to have a class action lawsuit against the firm dismissed, arguing the United States securities laws referenced are not applicable to its foreign-developed protocols.  On May 3, Terraform Labs requested a California federal judge dismiss an investor suit brought by Nick Patterson that claimed the company sold unregistered securities and misled

Funds stuck on the platform of bankrupt crypto broker Voyager Digital may begin returning to creditors in “the next few weeks,” according to a committee of Voyager creditors. A May 4 tweet from the Voyager Official Committee of Unsecured Creditors (UCC) said the now-defunct crypto firm is in the final stages of bankruptcy liquidation procedures.

Kenya’s lawmakers are considering the introduction of a 3% tax on cryptocurrency and nonfungible tokens (NFTs) transfers and a 15% tax on monetized online content, according to a newly introduced bill. Introduced to the Kenyan parliament on May 4, The Finance Bill, 2023 would enact a digital asset tax on “income derived from the transfer

The administration of United States President Joe Biden released a national standards strategy for critical and emerging technologies on May 4. The strategy stated that the U.S. would prioritize standards development in eight areas. Among the prioritized areas are “digital identity infrastructure and distributed ledger technologies, which increasingly affect a range of key economic sectors.” 

Greg Gianforte, the Governor of Montana, has signed into law a bill largely preventing local governments in the state from passing laws prohibiting cryptocurrency mining. According to records with the Montana legislature, Gianforte signed SB178 into law on May 2 after the bill had passed both the state House and Senate. The legislation effectively enshrines

The judge presiding over crypto exchange FTX’s bankruptcy case has given the green light to a motion allowing the sale of LedgerX. In a May 4 hearing in the United States Bankruptcy Court for the District of Delaware, Judge John Dorsey approved a motion the FTX debtors filed in April to sell LedgerX to M7

The House of Representatives for North Carolina has unanimously passed legislation aimed at prohibiting payments to the U.S. state using a central bank digital currency, or CBDC. In a May 3 vote, 118 members of the state’s legislative body agreed to pass House Bill 690, with only two representatives absent and none voting against the

The use and popularity of cryptocurrencies have significantly increased in recent years, but their decentralized nature makes them difficult to regulate, and the lack of a clear framework has led to concerns about money laundering, terrorist financing and consumer protection. Over 90 countries have introduced cryptocurrency regulations since 2014, with 28 adopting crypto-related laws in

According to a May 4 announcement from Coinbase chief legal officer Paul Grewal, the United States Court of Appeals for the Third Circuit responded to the complaint against the U.S. Securities and Exchange Commission (SEC) regarding the need for clear rules for trading digital assets. This marks a development in the legal battle for regulatory

The United Kingdom’s Competition and Markets Authority (CMA) has officially stepped onto the artificial intelligence (AI) scene after it announced an examination of the impact of the technology on consumers and the economy. On May 4, the regulator said it will be looking at the development and deployment of foundation models -  applications like OpenAI’s

Nigeria, known to be one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy.  The

Four media outlets in the United States have continued efforts to get the identities of non-U.S. FTX customers revealed, filing new objections to a previous motion to seal their identities.  Bloomberg, Dow Jones, The New York Times and The Financial Times first filed a motion objecting to FTX and the Official Committee of Unsecured Creditors

The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago. On May 3 the Securities and Exchange Commission (SEC) published amendments to Form PF — a form

The former OpenSea manager who was accused of insider trading of NFTs has been convicted on May 3 of wire fraud and money laundering in a New York federal court, according to a report from Reuters. According to prosecutors, Nathaniel Chastain, a former Product Manager at OpenSea, was in charge of choosing which NFTs would

Lawyers representing cryptocurrency and stock trading app Robinhood faced off against those for the Secretary of the Commonwealth for Massachusetts over the legality of a state regulation that could affect how the company markets itself to potential investors. Under Secretary of the Commonwealth for Massachusetts William Galvin, the state securities division filed a complaint against

The French Senate’s Committee on Economic Affairs recently approved an amendment to pending legislation allowing registered cryptocurrency companies to hire social media influencers for advertising and promotional purposes. According to a translation of the amendment provided by Bing, the new wording would allow companies that are registered with France’s Autorité des Marchés Financiers (AMF) to

Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the

Lawmakers from both sides of the aisle in the United States House of Representatives have backed a bill prohibiting members of Congress and their spouses and dependents from trading or owning certain financial instruments — which could extend to investments in digital assets. In a May 2 announcement, Democratic Representatives Alexandria Ocasio-Cortez (AOC) and Raja