Regulation

The dramatic collapse of crypto exchange FTX last November is not moving Bermuda away from receiving crypto companies, according to the head of the British island territory’s government during an interview with Bloomberg News.  “The future of finance is digital,” said the premier and finance minister Edward David Burt, who believes there are still considerable

The organization following the launch of the Central African Republic’s Sango Coin has announced a delay of its listing “just for a few weeks,” citing legal and regulatory obstacles.  In a March 31 message on its Telegram channel, the Sango Project said the government of the Central African Republic, or CAR, had made “significant progress”

Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad news, as losses were down from $1.3 billion in the first quarter of 2022. The recovery rate was down too, however. According to

On March 23, the world watched as United States lawmakers questioned TikTok CEO Shou Chew at a House Energy and Commerce Committee hearing in Washington. In the hearing, lawmakers grilled the CEO over suspicions that the Chinese government is gathering user data through the app.  The intensity of the exchanges went viral online, with many

The United States government plans to liquidate more than 41,000 Bitcoin seized as part of the case against Silk Road creator Ross Ulbricht. A March 31 filing with U.S. District Court for the Southern District of New York regarding the case against James Zhong said U.S. government authorities had begun liquidating roughly 51,352 Bitcoin (BTC)

Italy’s watchdog in charge of protecting data has announced that it’s temporarily blocking the artificial intelligence chatbot ChatGPT and is opening an investigation over suspected breaches of data privacy rules.  The data protection agency has ordered the immediate limitation of data processing for Italian users by OpenAI, the United States company behind ChatGPT. The agency

Tesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories on an open letter signed by more than 2,600 tech industry leaders and researchers. The open letter called for a temporary halt on any further artificial intelligence (AI) development. The petition shared concerns that AI with human-competitive intelligence can pose serious hazards to society

Amid the ongoing uncertainty around the global banking turmoil, Binance’s United States-based arm Binance.US is halting some services. According to Binance.US status dashboard, the U.S. crypto exchange on March 31 disabled Binance USD (BUSD) stablecoin pairs via One Common Billing System, referred to as OCBS. The affected services include BUSD crypto deposits and withdrawals, or

The European arm of FTX, FTX EU has launched a website to allow European customers to submit withdrawal requests. It comes nearly five months after the global trading platform collapsed and went bankrupt in early November. The new website domain name — https://ftxeurope.eu/ — was reportedly approved by the Cyprus Securities and Exchange Commission according

The Center for Artificial Intelligence and Digital Policy (CAIDP) has filed a complaint with the United States Federal Trade Commission (FTC) in an attempt to halt the release of powerful AI systems to consumers. The complaint centered around OpenAI’s recently released large language model, GPT-4, which the CAIDP describes as “biased, deceptive, and a risk

The United States Senator for Massachusetts Elizabeth Warren is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans think crypto is a key innovation for the future. In a March 30 Tweet, Warren suggested she was fighting to put “government on the side of working

The United States Office of the Comptroller of the Currency (OCC) officially announced the establishment of its Office of Financial Technology on March 30. The new office will broaden the OCC’s technology focus and help it stay abreast of the rapid developments in the banking industry, it said. The Office of Financial Technology will open

Our weekly roundup of news from East Asia curates the industry’s most important developments. Binance’s secret U.S. users On Mar. 27, the U.S. Commodity Futures Trading Commission (CFTC) charged Binance and its founder Changpeng Zhao with alleged willful evasion of federal law and operating an illegal digital assets exchange. In the 74 page complaint, the

The government of the United Kingdom has laid out plans to step up regulation of crypto assets in its efforts to respond to economic crime in the country. In a policy paper released on March 30, the U.K. Treasury and Home Office said it planned to “robustly” regulate crypto to fight illicit use of digital

Boerse Stuttgart Digital, the digital asset brand of the Boerse Stuttgart exchange group, announced March 30 that its blocknox service has received final licensing from the German Federal Financial Supervisory Authority (BaFin) to operate as a crypto custodian. Boerse Stuttgart Group now offers fully regulated brokerage, trading, and custody of digital assets, it said. Its

In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem. We start things

Do Kwon, currently in custody in Montenegro and potentially awaiting extradition to the United States or South Korea, will reportedly face harsh conditions in the country’s penal system. According to a March 29 Protos report, an unnamed criminal defense lawyer said conditions at Montenegro’s jails and prisons “haven’t changed” from those described in a 2020

Crypto exchange Kraken has filed a preregistration undertaking with the Ontario Securities Commission in Canada seeking restricted dealer status. U.S.-based Kraken is already active in Canada and is acting to comply with new guidance. Kraken is registered in Canada as a money services business and has been operating there for over ten years. The Canadian

Lawyers for former FTX chief executive officer Sam Bankman-Fried have entered a not guilty plea for five additional charges since his December 2022 arraignment, including allegations of bribery. According to multiple reports, Bankman-Fried pleaded not guilty in United States District Court for the Southern District of New York to four charges added as part of

How Big Tech companies treat user data has been controversial for so long. Meta, Apple, Google and Microsoft are often accused of collecting and selling the personal data of their users. Though, where exactly this data goes and how much of it is given over to companies and governments can still be unclear. However, a new