Recently, the Indian government made headlines by announcing a new requirement for technology companies developing artificial intelligence (AI) tools. According to Reuters, companies are now obligated to secure government approval before publicly releasing AI tools that are still in development or deemed “unreliable.” This move is part of India’s strategy to manage the deployment of
Regulation
The Securities and Futures Commission (SFC) in Hong Kong recently issued a warning to the public regarding suspicious websites attempting to impersonate licensed crypto exchanges in the city-state. This fraudulent act has caused concern among investors who have fallen victim to these deceptive platforms. Users have reported issues such as the inability to withdraw funds
Hungary has taken a notable step forward in the financial sector with a legislative proposal that would allow banks, investment funds, and asset managers to offer services in cryptocurrencies. This initiative is part of a broader movement within Europe towards the adoption of digital assets. If approved, the laws are set to take effect on
Senator Elizabeth Warren recently expressed her willingness to engage with the crypto industry, but only if players in the industry adhere to regulatory standards similar to those in traditional finance. In a recent interview, Warren voiced her concerns about the crypto industry’s association with illegal activities such as drug trafficking, human trafficking, terrorism, ransomware scams,
A group of Senate Republicans, led by Senator Ted Cruz of Texas, is taking legislative steps to restrict the Fed’s capacity to introduce a central bank digital currency (CBDC). This move spotlights the issue as a potential focal point in the 2024 presidential campaign discussions. The proposed bill, named the Central Bank Digital Currency Anti-Surveillance
The Energy Information Administration (EIA) recently halted a controversial survey of crypto mining companies after facing a lawsuit from Riot Platforms and the Texas Blockchain Council. These organizations filed a lawsuit against the EIA, the Department of Energy, the Office of Management and Budget (OMB), and the heads of those agencies. As a result, the
South Africa recently unveiled plans to integrate digital payments and cryptocurrency into its financial ecosystem as part of a strategy to drive economic growth and inclusion, particularly for marginalized communities. The government’s 2024 budget emphasizes the importance of collaboration between the public and private sectors to foster financial innovation and build a digital economy. The
Recent developments have brought to light the concerning issue of government agencies beginning to collect data on Bitcoin mining firms. House Majority Whip Tom Emmer was quick to address this issue, warning that the Office of Management and Budget (OMB) had approved a request from the Energy Information Administration (EIA) to impose a new and
Ladan Stewart, a key member of the US Securities and Exchange Commission’s legal team, recently made the decision to step down from her position at the agency. Stewart, who had been serving as the Regional Trial Counsel in the SEC’s Crypto Assets and Cyber Unit since September 2022, has now joined White & Case as
The recent accusations made by Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, have sparked a heated debate regarding the role of Binance in the Nigerian economy. Onanuga accused Binance of manipulating the exchange rate for Nigeria, essentially taking over the role of the Central Bank of Nigeria (CBN). He called for action