Regulation

Attorneys representing the United States Justice Department rested their case against Sam “SBF” Bankman-Fried after more than three weeks of expert witnesses and testimonies from former FTX and Alameda employees.  According to reports from the courtroom on Oct. 26, the U.S. government’s last witness before resting was FBI agent Mark Troiano, who primarily testified on

Former FTX CEO Sam Bankman-Fried’s upcoming testimony has been outlined in a letter to Judge Lewis Kaplan by his lawyer, Mark Cohen. In the letter submitted by Cohen to inform the court of the planned testimony during Bankman-Fried’s direct examination, the defense requested approval to obtain testimony regarding Bankman-Fried’s awareness of counsel’s participation in specific matters,

Google has been facing a wave of litigation recently as the implications of generative artificial intelligence (AI) on copyright and privacy rights become clearer. Amid the ever-intensifying debate, Google has not only defended its AI training practices but also pledged to shield users of its generative AI products from accusations of copyright violations. However, Google’s

The United States Securities and Exchange Commission (SEC) chief Gary Gensler’s speech before the 2023 Securities Enforcement Forum shed light on the regulatory body’s enforcement actions that led to $5 billion in judgments and orders. However, Gensler’s dig at the cryptocurrency market became a talking point for the crypto community on social media, where Gensler

A group of 34 United States states are filing a lawsuit against Facebook and Instagram owner Meta, accusing the company of engaging in improper manipulation of minors who use the platforms. This development comes amid rapid artificial intelligence (AI) advancements involving both text and generative AI. Legal representatives from various states, including California, New York,

Pro-Ripple lawyer John Deaton said he expects a lengthy legal process in the United States Securities Exchange Commission (SEC) vs. Ripple case — possibly lasting a year. Deaton suggested that a settlement may only be considered if Coinbase’s motion to dismiss the SEC’s case against it is successful.  In a detailed post on X (formerly known as Twitter), Deaton

Crypto-promoting firms have breached the United Kingdom’s new crypto marketing rules at least 221 times since coming into force in early October, says the country’s financial regulator. In an Oct. 25 statement, the U.K. Financial Conduct Authority (FCA) said since the Oct. 8 crypto promotion rules came into place, firms are still failing to provide

Members of the United States House of Representatives have chosen Mike Johnson to be the body’s next speaker — the second in line to the U.S. presidency and a very powerful figure in Congress.  In an Oct. 25 vote, all 220 Republicans present in the House voted for Johnson, while 209 Democrats cast ballots for

Sam Bankman-Fried (SBF) had a lot going against him well before the start of his criminal trial: the ire of many in the crypto space, suspicion from United States policymakers, and negative attention from some in the media looking for clickbait angles to associate with the former FTX CEO.  None of that may have had

Former FTX CEO Sam “SBF” Bankman-Fried will testify as part of his defense case, said his attorney Mark Cohen. In an Oct. 25 telephone conference between SBF’s lawyers, prosecutors, and Judge Lewis Kaplan, Cohen said following the prosecution completing the presentation of its case on Oct. 26, his team planned to call three witnesses as

On Oct. 8, the United Kingdom’s Financial Conduct Authority (FCA) imposed new marketing rules compelling cryptocurrency firms to promote their products and services clearly, fairly and transparently. From banning referral bonuses to crypto firms implementing a 24-hour cooling-off period for first-time crypto investors, the stricter Financial Promotions (FinProm) regime aims to help protect consumers from high

Banco de España, Spain’s central bank, has joined a chorus of European banking institutions preparing their customers for the potential benefits of a digital euro. The central bank published a short text on Oct. 19 explaining the nature and uses of the European Union’s potential central bank digital currency (CBDC). The bank claims that the physical

The United States Securities and Exchange Commission has fined investment adviser BlackRock Advisors $2.5 million, accusing it of failing to accurately describe investments in the entertainment industry that comprised a significant portion of a publicly traded fund it managed. According to the SEC’s filing, between 2015 and 2019, BlackRock Multi-Sector Income Trust (BIT) made sizeable investments in

The United States Internal Revenue Service (IRS) has extended the commentaries period for crypto tax reporting rules proposed in August 2023. The public consultation will last until Nov. 13.  The “Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions” rules were made public on Aug. 29.

Massachusetts Sen. Elizabeth Warren is at it again. With mainstream press outlets including Germany’s Deutsche Welle running sensationalist headlines — “How cryptocurrency fueled Hamas’ terrorist attack” — Warren is using Hamas’ attack on Israel to fuel her own war on cryptocurrency. Crypto’s role in the conflict came into focus on Oct. 10, when Israeli police

Tom Emmer, the current majority whip and a crypto proponent, has reportedly dropped his bid to become the next Speaker of the United States House of Representatives — a position second in line to the U.S. presidency. According to multiple reports from major news outlets on Oct. 24, Rep. Emmer ended his campaign for Speaker

Crypto lending platform BlockFi has emerged from bankruptcy and is ready to pay back some of its creditors, according to an October 24 blog post. Withdrawals “are currently available to nearly all Wallet customers,” the post stated, adding that Blockfi Interest Account (BIA) and Loan customers will be able to withdraw some assets in early

Republican members of the United States House of Representatives have chosen Tom Emmer, current majority whip and crypto proponent, as their nominee to be the next Speaker. According to multiple reports from Oct. 24, Rep. Emmer will be Republicans’ nominee in the next vote to determine a Speaker of the House following a closed-door session.

Lawyers representing Binance and CEO Changpeng “CZ” Zhao have filed statements in support of a motion to dismiss a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC) in March. In an Oct. 23 filing in U.S. District Court for the Northern District of Illinois, CZ’s and Binance’s attorneys made several legal claims

Marinade Finance, the largest decentralized finance (DeFi) protocol running on the Solana blockchain, has reportedly started blocking users from the United Kingdom. U.K. customers discovered the problem on Oct. 23. While trying to access Marinade’s website from a local IP, one encounters the block page with a message: “Access to this site is unavailable in