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
Regulation
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
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