The SEC filed a joint motion on March 5 to request further action against Binance.US due to alleged failures to comply with regulatory requests for information regarding customer assets. The SEC claims that Binance.US’s inspections were inadequate, their counsel refused to answer crucial questions, and the firm made changes to its operations without providing updates.
Regulation
Recently, the Indian government made an announcement regarding a new mandate for technology companies developing artificial intelligence (AI) tools. According to Reuters, companies are now required to seek government approval before publicly releasing AI tools that are either in the development phase or considered “unreliable.” Regulating AI Technologies in India The directive issued by the
Recently, the Securities and Futures Commission (SFC) in Hong Kong issued a warning to the public regarding suspicious websites impersonating licensed crypto exchanges in the city-state. The scam involved websites that tricked users by impersonating the image and branding of well-known exchanges like Hash Blockchain Limited and OSL Digital Securities Limited. This fraudulent activity not
Hungary is making strides in the world of cryptocurrency by proposing a new legislative framework that would allow banks, investment funds, and asset managers to offer services in Bitcoin and other digital currencies. This initiative, set to come into effect on June 30 if approved, signifies a significant advancement in the country’s financial sector. The
Senator Elizabeth Warren recently expressed her willingness to engage with the crypto industry under the condition that players in the sector adhere to regulatory standards similar to those in traditional finance. In a Bloomberg interview on Feb. 27, Warren highlighted the importance of collaboration with the industry. She raised concerns about the industry’s apparent stance
A recent legislative move by a group of Senate Republicans, spearheaded by Senator Ted Cruz of Texas, has brought the issue of central bank digital currencies (CBDC) into the spotlight. The proposed bill, known as the Central Bank Digital Currency Anti-Surveillance State Act, aims to restrict the Federal Reserve’s ability to introduce a CBDC without
In a recent turn of events, the Energy Information Administration (EIA) has decided to halt its controversial survey of crypto mining firms due to a lawsuit filed by Riot Platforms and the Texas Blockchain Council. This decision came after the lawsuit was launched on Feb. 22, naming the EIA, the Department of Energy, the Office
House Majority Whip Tom Emmer recently raised concerns about government agencies under the Biden administration starting to collect data on Bitcoin mining firms. Emmer criticized the Office of Management and Budget (OMB) for approving a request from the Energy Information Administration (EIA) to implement an information collection regime on the Bitcoin mining industry without a
South Africa recently announced ambitious plans to integrate digital payments and cryptocurrencies into its financial system in an effort to stimulate economic growth, particularly for marginalized communities. This move is outlined in the country’s 2024 budget, highlighting the government’s commitment to fostering a digital economy through collaboration between the public and private sectors to drive
Ladan Stewart, a key member of the US Securities and Exchange Commission’s legal team, recently made the decision to step down from her role at the agency to join White & Case, a pro-crypto law firm. Stewart, who previously served as Regional Trial Counsel in the SEC’s Crypto Assets and Cyber Unit, has joined White