Regulation Financial News
08.05 / 20:05
Government
Law
regulation
lawmaker
South Korean lawmaker allegedly cashed out while legislating on crypto: Report
Kim Nam-kuk, a member of South Korea’s National Assembly, reportedly liquidated more than $4 million worth of crypto prior to lawmakers in the country enforcing the Financial Action Task Force’s “Travel Rule”.
08.05 / 20:05
business
regulation
Machine Learning
State-sponsored Chinese AI firm launches bot service to ‘surpass’ ChatGPT
Iflytek, a state-subsidized Chinese artificial intelligence (AI) company, recently announced the launch of “Spark Model,” an AI system designed to compete directly with OpenAI’s ChatGPT.
08.05 / 17:21
regulation
Bot
ChatGPT
China issues first arrest over fake news created with ChatGPT: Report
A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories.
08.05 / 11:13
business
Ripple
regulation
SEC
U.S.
Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse says
Ripple has spent $200 million defending the case brought against it by the United States Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse.
08.05 / 10:23
Binance
regulation
Ban
Huobi
FTX
Chainalysis
New Report: Despite Crypto Ban, Chinese Citizens Trade on Binance and FTX Exchanges
Beijing has said 'no' to crypto, but that doesn't seem to affect a number of Chinese citizens who have continued trading digital coins since the ban - reportedly, on exchanges including Binance, FTX, OKX, and Huobi.
08.05 / 09:29
business
regulation
sanctions
ChatGPT
China is developing AI without US chips: Here's how
The race to create artificial intelligence (AI) continues as China pushes forward the development of home-grown AI without utilizing the latest technology from the United States due to current sanctions.
08.05 / 03:13
business
regulation
Trading
interview
retail
Bitcoin Regulation
Hong Kong to step in as ‘options are dwindling’ globally — FinTech chair
Crypto-friendly Hong Kong is still gung-ho about giving its citizens access to crypto trading despite other jurisdictions “taking a step back,” claims the chair of the FinTech Association of Hong Kong (FTAHK).
06.05 / 21:03
business
Mining
regulation
Bitcoin
Kazakhstan collected $7M in crypto mining taxes in 2022
The government of Kazakhstan has received 3.07 billion tenge (approximately $7 million) in tax payments from crypto mining entities in 2022, following the implementation of an amended law regulating the fiscal burden of mining cryptocurrencies, according to the local media reports.
06.05 / 13:41
Binance
regulation
Department Of Justice
sanctions
Department
US Justice Department investigating Binance for violating Russian sanctions: Report
Binance is under investigation by the United States Justice Department (DOJ) national security division for allowing Russians to use the cryptocurrency exchange in violation of U.S. sanctions, according to a report that appeared in Bloomberg on May 5. There have been no accusations against the company or its executive in connection with the investigation.
06.05 / 08:53
Binance
regulation
DOJ
us sanctions
Binance Faces DOJ Probe Over Possible Breach of US Sanctions on Russia
Binance is under investigation by the US Justice Department over potential breaches of sanctions involving Russia.
06.05 / 05:45
Law
regulation
SEC
security
whistleblower
SEC issues record whistleblower award of $279M
The U.S. Securities and Exchange Commission (SEC) has issued its largest-ever whistleblower award totaling $279 million.
05.05 / 21:41
Binance
regulation
sanctions
DOJ
US DoJ
US DOJ Investigating Binance’s Involvement With Possible Russian Sanctions Violations: Bloomberg
The US Justice Department is investigating whether Binance Holdings Ltd. was illegally used to let Russians skirt US sanctions and move money through the cryptocurrency exchange, according to a report from Bloomberg News.
05.05 / 21:19
Adoption
regulation
Latin America
inflation
Hyperinflation
Bitcoin
Argentina's central bank halts cryptocurrencies from payment apps
On May 4, Argentina's central bank banned payment providers from offering crypto transactions, alleging it intends to reduce the country's payment-system exposure to digital assets.
05.05 / 19:37
CBDC
regulation
Elections
RFK Jr. elaborates position on CBDC, crypto: ‘It isn’t just criminals who want privacy’
Robert F. Kennedy Jr., who is challenging United States President Joe Biden for the Democratic nomination in the 2024 presidential election, has taken to Twitter again to share more of his thoughts on cryptocurrency.
05.05 / 19:37
business
regulation
Apple
Research
Machine Learning
iphone
Tim Cook says Apple will weave AI into products as researchers work on solving bias
CEO Tim Cook gave a rare, if guarded, glimpse into Apple’s walled garden during the Q&A portion of a recent earnings call when asked his thoughts on generative artificial intelligence (AI) and where he “sees it going.”
05.05 / 16:49
Law
regulation
crimes
ATM
Financial
UK financial watchdog announces inspections against sites with suspected illegal crypto ATMs
The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.”
05.05 / 16:29
05.05 / 15:35
Mining
regulation
white house
Taxes
Electricity
Bitcoin
Will Biden's plan to tax crypto mining reduce emissions? Critics say no
Cryptocurrency miners based in the United States could soon face a tax equal to 30% of the cost of electricity they use if President Joe Biden’s proposed budget for the fiscal year 2024 is approved by Congress, but the proposal has sparked debate about whether it would actually decrease global emissions and energy prices.
05.05 / 15:35
Government
Law
regulation
New York AG's office seeks additional authority over crypto firms
Letitia James has reportedly proposed legislation that would give the New York Attorney General’s office more authority to regulate the crypto industry.
05.05 / 13:51
Crime
regulation
ATM
FCA
raid
UK Regulator Descends Upon Illegal Crypto ATMs in Latest Raid
The UK’s financial regulator, along with local police, descended upon illegally operated cryptocurrency automatic teller machines (ATMs) as part of a continued crackdown.
05.05 / 13:37
regulation
SEC
coinbase
Coinbase Faces Existential Risk as SEC Increases Scrutiny on Crypto
The US-based crypto exchange Coinbase is facing an “existential risk” as the Securities and Exchange Commission (SEC) continues its crackdown on the crypto industry, a financial analyst has warned.
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