The provincial government of Buenos Aires has lodged a formal accusation against Worldcoin, alleging that the company has violated consumer protection laws through the inclusion of “abusive clauses” in its user agreement. These allegedly unfair terms reportedly give Worldcoin the ability to halt services without any obligation to provide repair or reimbursement to its users.
Regulation
Recent discussions between House leaders and Senate Majority Leader Chuck Schumer have sparked speculation about potential action on stablecoin legislation in the upcoming sessions. The House Financial Services Chair Patrick McHenry and ranking member Maxine Waters have engaged in talks with Schumer, highlighting the need for regulatory clarity in the field of financial technology. Reports
When it comes to data on the blockchain, the question of whether to reveal or not is starting to gain traction. The concepts of transparency and immutability have the potential to democratize data by reducing the control of large power structures. However, there is also a growing desire among individuals to have personal ownership over
According to IRS criminal investigation chief Guy Ficco, there has been a noticeable increase in taxpayers committing tax crimes related to cryptocurrency. These crimes, categorized as “pure crypto tax crimes,” encompass a range of violations falling under Title 26 of the US Code, specifically federal income tax violations. Some examples of these crimes include failing
The European Securities and Markets Authority (ESMA) recently issued a warning about the high level of concentration in the crypto markets. The agency expressed concerns that the crypto ecosystem is vulnerable to disruptions due to this concentration. ESMA’s findings revealed that a small number of assets, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), make
The recent issuance of a Wells notice by the US SEC to Uniswap Labs, the entity responsible for the popular Ethereum-based decentralized exchange, Uniswap, has stirred up a storm in the crypto community. Hayden Adams, the founder of Uniswap, took to social media to express his reaction to the SEC’s warning. Despite his stoic stance,
During a recent Senate hearing, Senator Tim Scott criticized the current US administration for making digital assets the scapegoat in efforts to combat terrorism financing. He raised concerns about the Treasury’s exclusive focus on cryptocurrencies, arguing that more traditional sources of funding, particularly those benefiting Iran, are being ignored. Scott pointed out Iran’s $35 billion
Policymakers are constantly faced with the challenge of regulating emerging technologies such as blockchain and AI while trying to strike a balance between innovation and security. However, there is a persistent disconnect between policymakers and technology, resulting in the oversight of crucial aspects of new technologies. This disconnect is evident in the recent actions of
Lithuania is making headlines in the world of cryptocurrency with the announcement of strict licensing requirements set to be imposed on crypto firms by 2025. This move is expected to have a significant impact on the number of companies operating in the country, as outlined by Central bank board member Simonas Krepsta in a recent
Singapore’s Payments Service Act (PSA) underwent significant amendments by the Monetary Authority of Singapore (MAS) to strengthen its jurisdiction and amplify user protection within the cryptocurrency industry. These changes reflect Singapore’s dedication to establishing itself as a crypto-friendly hub that prioritizes investor security alongside fostering innovation. Expansion of Digital Payment Token Services MAS integrated three