Regulation

Roughly 100 people answered the call from the crypto advocacy groups Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council to show Texas lawmakers they were against legislation targeting crypto mining firms. Gathering at the Texas Capitol in Austin on April 25, crypto enthusiasts, state lawmakers, industry leaders, and even a few members

In today’s Market Report episode, analyst and writer Marcel Pechman covers the potential triggers to move Bitcoin’s price away from $27,000, including the United State Federal Reserve meeting on May 3. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel. The first news article discussed the catalysts for Bitcoin’s next move,

Europe’s data watchdog, Wojciech Wiewiórowski, predicts a sour predicament for United States-based artificial intelligence (AI) companies currently being investigated for alleged GDPR violations. “The breathless pace of development means data protection regulators need to be prepared for another scandal,” Wiewiórowski told MIT’s Technology Review during a recent interview, invoking the Cambridge Analytica scandal for reference.

As crypto exchange Coinbase makes a push toward a sensible regulatory environment for the crypto space, the exchange launched a nonfungible token (NFT) collection to gain the community’s support. However, not everyone is excited about the move, with some not even sure if it will have any impact at all.  On April 25, Coinbase launched

Troubled digital currency company Genesis Capital saw its settlement disrupted by creditors in two months after the initial agreement, raising concerns about the timing of the process. Genesis’ parent company, Digital Currency Group (DCG), took to Twitter on April 25 to issue a statement on Genesis filing a motion for mediation. The firm said that

Court documents were filed indicating that Do Kwon, co-founder and CEO of Terraform Labs, has asked for the dismissal of charges leveled against him by the Securities and Exchange Commission (SEC).  In the motion filed on Friday, April 21 to have the SEC charges dismissed, Kwon argued the SEC’s claims are invalid, pushing back against

On Apr. 24 the Southern district court of New York held the first jury hearing on the case against former OpenSea product manager Nathaniel Chastain, who’s being accused of insider trading with nonfungible tokens (NFTs). The allegations were filed by the U.S. Manhattan Attorney’s Office on May 31, 2022. Chastain is being indicted on two

The financial crimes unit at the Seoul Southern District Prosecutors’ Office reportedly indicted Terraform Labs co-founder Shin Hyun-seong and nine other individuals for the collapse of the Terra stablecoin ecosystem.  The 10 individuals were reportedly indicted on charges of fraud, breach of trust and embezzlement and referred to trial after 11 months of investigation. The prosecutor’s

The commissioner of the Commodity Futures Trading Commission (CFTC), Christy Goldsmith Romero, has proposed reducing the anonymity of cryptocurrencies as a means of managing the risks associated with digital assets. The statement was made during the keynote speech on Illicit Finance and Other Key Risks of Digital Finance at City Week 2023 in London on

Coinbase filed a narrow action in a United States federal court that seeks to compel the Securities and Exchange Commission (SEC) to provide a “yes or no” response to a July 2022 petition. The petition requested the SEC propose and adopt clearer regulatory guidelines for the cryptocurrency industry in the U.S.  In the exchange’s July

A “fast track” option for licensed crypto firms in France to get regulated under the upcoming Markets in Crypto-Assets (MiCA) laws has been mulled by the country’s financial regulator. In a statement published on April 21, the French Financial Markets Authority (AMF) welcomed the approval of MiCA and outlined how French regulation will proceed during

Regulators in the United States have choked out the cryptocurrency sector to the point of death according to Bitcoin (BTC) bull and billionaire tech investor Chamath Palihapitiya. “Crypto is dead in America,” he boldly claimed in an April 22 episode of the All-In podcast. Palihapitiya’s comment came in response to the news that cryptocurrency exchange

Surveillance software has been successfully implemented on Sam Bankman-Fried’s parents’ cell phones to ensure he does not breach the conditions of his bail, with a Judge approving of the measure. Bankman-Fried’s lawyers requested an extension on April 19 for the enforcement of the FTX co-founder’s recently revised bail conditions, citing difficulties in finding the required

Republican lawmakers with the United States House Financial Services Committee have released a draft of a bill focused on payment stablecoins rather than overseeing other aspects of digital asset markets. A senior Republican committee staffer involved in drafting the legislation told reporters on April 24 that they had narrowed the scope of a stablecoin bill

OpenAI faces another hurdle in its quest to continue doing business in the European Union as German authorities have launched an inquiry into the company’s privacy practices and GDPR compliance.  As reported by AFP, regulators in Germany are demanding answers concerning the company’s intentions and ability to comply with the strict data privacy laws enshrined

Mira Murati, the chief technology officer at OpenAI, believes government regulators should be “very involved” in developing safety standards for the deployment of advanced artificial intelligence models such as ChatGPT.  She also believes a proposed six-month pause on development isn’t the right way to build safer systems and that the industry isn’t currently close to

The United States Treasury Department has identified over-the-counter (OTC) cryptocurrency traders who assisted North Korea’s Lazarus Group in converting stolen crypto into fiat currency. Crypto traders in China and Hong Kong have been sanctioned by the Treasury’s Office of Foreign Assets Control (OFAC). In addition, a China-based banker was sanctioned for coordinating some of the

Last week, the Markets in Crypto-Assets Act, also known as MiCA, was finally passed by the European Parliament. While MiCA technically still has to be approved by the European Council, there’s little doubt that the world’s first comprehensive crypto framework will become a reality by 2024 or 2025. Despite its flaws, the regulation will establish

China is expanding the use cases for its central bank digital currency (CBDC) called digital yuan or e-CNY for its Belt and Road initiative and cross-border trades. The digital yuan a.k.a. digital RMB was one of the first CBDCs to be developed and widely tested. While there hasn’t been an official launch, the government has

A South Korean district court has dismissed charges of security violations against former Terraform Labs CEO and co-founder Hyun-seong Shin. The court deemed LUNA (LUNA) (the native token of the LUNA ecosystem) as non-security under Korea’s Capital Markets Act. The southern district court in Seoul dismissed the prosecution’s appeal for confiscating Shin’s properties and his