Regulation Financial News

01.05 / 21:43

Stablecoin regulation UK government Framework regulatory Industry heavyweights respond to UK’s crypto asset regulatory framework proposal

The deadline has come for comments on a consultation paper and call for evidence released by the United Kingdom’s HM Treasury on a proposed crypto asset regulatory framework. The long-awaited paper, published in February, drew detailed responses from a variety of cryptocurrency industry players.

01.05 / 20:29

Law regulation sanctions Poloniex settlement Poloniex will pay $7.6M settlement to US authorities for 'apparent violations' of sanctions

The United States Treasury Department’s Office of Foreign Asset Control (OFAC) announced cryptocurrency exchange Poloniex has agreed to a $7.6 million settlement related to more than 65,000 apparent violations of multiple sanctions programs.

01.05 / 20:29

regulation Europe Apple European Union Kraken Framework European Union pushes forward with first AI framework: Law Decoded, April 24–May 1

Legislators in the European Union have pushed forward with a draft of a new bill designed to keep artificial intelligence technology in check. According to the bill, the high-risk tools will not be banned entirely, though they will be subjected to stricter transparency procedures. In particular, generative AI tools, including ChatGPT and Midjourney, will be obliged to disclose any use of copyrighted materials in AI training.

01.05 / 18:53

regulation SEC Bittrex On the shutdown of Bittrex in the US and SEC actions — Bittrex Global CEO at Consensus 2023

Oliver Linch, chief executive officer of cryptocurrency exchange Bittrex Global, has pushed back against the United States Securities and Exchange Commission (SEC), claiming the company never had a clear opportunity to discuss a potential enforcement action.

01.05 / 11:09

regulation SEC Tokens Africa Bitcoin NOT Tokens but not crypto: Nigeria SEC prepares new digital asset rules

Nigeria, one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), is preparing new industry regulations for digital asset platforms.

01.05 / 10:29

business regulation ChatGPT chatbot AI chatbot usage causes concern among 70% of Japanese adults

Artificial intelligence (AI) chatbots are not new. However, the rapid emergence of AI chatbots as integrations into emerging technology and society have been raising concerns among the public.

01.05 / 10:29

Government Law Adoption regulation Europe European Union Euro Liechtenstein adapts blockchain laws to developing crypto landscape

The blockchain and crypto industry is constantly growing and changing around the world, and the Principality of Liechtenstein is no exception.

01.05 / 08:31

regulation JPMorgan to acquire troubled First Republic Bank

The American banking giant JPMorgan Chase is set to acquire First Republic Bank’s (FRB) assets after early efforts to rescue it failed. JPMorgan and multiple other banks submitted a bid to acquire the assets of troubled FRB on April 29.

01.05 / 04:53

business regulation SEC Tokens ICO SEC serves $4M in fines to Coinme over ‘misleading’ UpToken ICO

The United States securities regulator has handed down nearly $4 million in fines to crypto exchange Coinme for allegedly offering unregistered securities and giving “misleading statements” on its crypto token UpToken (UP).

30.04 / 06:23

regulation Bloomberg Federal Reserve banking Silvergate NOT First Republic’s crisis is not an isolated incident - suggests JPMorgan exec

An exec at JPMorgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Bank (FHLB) emergency lending programs expire – warning that the possible collapse of First Republic Bank may cause a domino effect.

30.04 / 03:27

business regulation Liquidity Banks investigation FDIC pins Signature Bank's failure on poor governance and illiquidity

The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse.

30.04 / 02:19

Law regulation lending Circle Banks banking FDIC alleges Cross River engaged in 'unsafe' lending practices

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa and Coinbase – to "self-correct" and appropriately address weaknesses in its lending activities.

29.04 / 12:41

Law regulation crypto regulation us house services committee Financial US House Financial Services Committee Says Crypto Bill Coming in "Next Two Months" – Here's What You Need to Know

The US House Financial Services Committee and House Agriculture Committee are set to introduce comprehensive legislation to oversee the cryptocurrency sector in the next two months.

29.04 / 03:31

regulation us government Congress Senate bills Congressman McHenry announces joint hearings to address market structure around digital assets

Patrick McHenry, the Chairman of the House Financial Services Committee, has announced a series of joint hearings in May that will focus on addressing the market structure around digital assets in the U.S.

28.04 / 21:47

business regulation Microsoft MicroStrategy Lightning Network Crypto Biz: Google bullish on blockchain, UK’s $125M AI pledge, Voyager and Binance

At the intersection of tech and cryptocurrency news, the Google for Startups Cloud Program has expanded to include 11 blockchain firms. Together, the entities will provide grants, expertise and services to emerging Web3 entrepreneurs. Meanwhile, the United Kingdom government has allocated $125 million in funding for a task force aimed at accelerating the country’s artificial intelligence (AI) readiness. The task force will focus on ensuring sovereign capabilities, such as public services, and fostering the adoption of safe and reliable AI foundation models.

28.04 / 21:47

regulation Banks Federal Reserve banking Silvergate Bankruptcy NYDFS Fed, NYDFS assess their supervisory performance after March’s big bank failures

Bank regulators in the United States have turned from introspection to confession after the high-profile bank failures in March. The New York Department of Financial Services (NYDFS) published its internal review of Signature Bank supervision on April 28, the same day the U.S. Federal Reserve Board released its review of the handling of Silicon Valley Bank (SVB).

28.04 / 20:09

Law regulation IRS Research Taxes Framework Tax law researchers propose IRS framework for deducting crypto losses

Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains.

28.04 / 11:37

business regulation Europe copyrights European Union ChatGPT ChatGPT, Midjourney, other AI tools to make their way into EU legislation

Controversies around artificial intelligence (AI) and its use of copyrighted material have been popping up around the web left and right after a major uptick in the use of the technology for content creation.

28.04 / 11:29

Blockchain Binance regulation Binance to reenter Japan via acquired regulated exchange SEBC

Crypto exchange Binance is set to reenter Japan after acquiring the regulated crypto exchange platform Sakura Exchange Bitcoin (SEBC). Binance acquired the exchange — a Japan Financial Services Agency-licensed business — in November 2022, intending to reenter the Japanese crypto market.

28.04 / 11:29

Ethereum Adoption regulation IRS Taxes Revolut Bitcoin reports Koinly Revolut taps Koinly for automated cryptocurrency tax reports

As cryptocurrencies increasingly fall under the purview of global tax authorities, digital bank Revolut has integrated an automated tax reporting service for its users.

28.04 / 11:29

CBDC Adoption regulation Europe European Union Euro digital euro European bankers on digital euro: 'ECB has no interest in users’ personal data'

As the various stakeholders within the European Union continue to research the potential of a single central bank digital currency (CBDC), the representatives of both private and public banking institutions share their opinion on the digital euro.

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