The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. Senators Jack Reed and Laphonza Butler advised the financial regulator to tighten its scrutiny of Bitcoin ETFs. They raised concerns about
Regulation
The blockchain analytics firm Elliptic recently uncovered that the North Korea-backed hacker group Lazarus has once again turned to the sanctioned crypto mixer Tornado Cash to disguise its transactions. This comes after a period of dormancy following US government sanctions in response to allegations of assisting criminals in laundering illegally obtained digital assets. Despite the
Recently, Hong Kong’s Securities and Futures Commission (SFC) announced that it had added Bybit to its list of suspicious virtual asset trading platforms. The commission raised concerns about Bybit operating without the necessary license and offering its products to investors in Hong Kong. This warning comes as a response to the platform’s unlicensed operations. The
Recently, stablecoin issuer Tether joined forces with the US Department of Justice and the FBI to seize $1.4 million USDT linked to a tech support scam network. The scam targeted vulnerable elderly individuals through deceptive pop-up ads, falsely claiming their devices were compromised. Victims were then tricked into contacting fake tech support, leading to the
The Biden administration recently unveiled its proposed budget for 2025, which includes a series of regulatory measures targeting digital assets. These provisions aim to close existing loopholes that have allowed wealthy crypto investors to benefit disproportionately. By implementing these rules, the administration hopes to create a more level playing field for all investors and increase
Recently, the developer Tools for Humanity, behind the Worldcoin project, has found itself in the midst of a legal battle with Spanish regulators. The lawsuit was filed in response to Spain’s ban on data collection and usage within the country for three months. According to Worldcoin, Spain’s regulators did not follow the proper process outlined
In a recent Senate Banking Committee hearing on monetary policy, US Federal Reserve Chair Jerome Powell made it clear that the regulator is not yet ready to adopt or recommend a central bank digital currency (CBDC). Powell emphasized the importance of privacy and reassured lawmakers that the Federal Reserve would not support a system that
The recent joint motion filed by the SEC on March 5 shines a light on the ongoing battle between the regulatory body and Binance.US. The SEC has raised concerns about Binance.US allegedly failing to comply with regulatory requests for information on customer assets. According to the SEC, Binance.US’s inspections have been deemed insufficient, critical questions
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
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