Regulation

Huobi has become the first member of the Hong Kong Virtual Assets Consortium (HKVAC), the Seychelles-based cryptocurrency exchange announced on May 31. The new organization promises to provide a ratings service and indexes when it is fully launched. The new organization is debuting at a crucial moment, as retail cryptocurrency trading begins in Hong Kong

Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank, has pointed fingers at certain members of the public in the wake of the bank’s collapse. In a May 30 hearing before the New York State Senate, Frank said he had “no mea culpas” regarding the failure

Lawmakers in the European Union are seeking to implement a code of conduct for the development and implementation of artificial intelligence (AI) prior to their forthcoming EU AI Act.  In a joint meeting of the EU-U.S Trade and Technology Council in Sweden on May 31, the EU tech chief Margrethe Vestager said officials in the

Under new rules from the Central Bank of the United Arab Emirates (CBUAE), licensed financial institutions (LFIs) would be required to verify the identities of all customers. The update will come into effect “within a month” by the end of June.  On May 31, the CBUAE published guidance for LFIs on risks “related to virtual

Officials in China have issued a warning about the risks posed by the rapid advancement in artificial intelligence (AI) development and subsequently called for tighter measures on national security.  The remarks come from a meeting on Tuesday in which Chinese President Xi Jinping, and other prominent members of the communist party, stressed the country’s ambitions

The United States Securities and Exchange Commission (SEC) is going after crypto influencers who have promoted scam projects and are often found manipulating the prices of certain tokens based on their tweet. Former SEC Chief John Reed Stark took to Twitter to warn such crypto influencers to be ready to face prosecution. Attention all crypto

“Adversary nations” like China could ultimately benefit from restrictive crypto policies in the United States, warns Coinbase CEO Brian Armstrong.  In a May 30 op-ed for MarketWatch, Armstrong again warned that while recent turbulence in crypto markets might tempt U.S. policymakers “to write it off as an unstable asset class,” doing so could see the

Hong Kong and the United Arab Emirates’ (UAE) central banks are looking to collaborate on cryptocurrency regulations and financial technology development. On May 30, the Hong Kong Monetary Authority (HKMA) said it met with its counterparts at the Central Bank of the United Arab Emirates (CBUAE) with the two agreeing to “strengthen cooperation” on “virtual

Dozens of artificial intelligence (AI) experts, including the CEOs of OpenAI, Google DeepMind and Anthropic, recently signed an open statement published by the Center for AI Safety (CAIS).  We just put out a statement: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear

The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs) and DCO applicants, reminding them of the risks associated with expanding the scope of their activities. The letter from the CFTC Division of Clearing and Risk (DCR) specifically addressed digital assets. Staff advisory letters can

A United State District Judge has referred a motion requesting the appointment of an independent examiner for bankruptcy crypto exchange FTX to appellate court. In documents filed in U.S. District Court for the District of Delaware on May 30, Judge Colm Connolly said the U.S. Trustee in FTX’s case, Andrew Vara, requested an appeal following

In late April, over a hundred people gathered near the Texas Capitol building to protest.  Peaceful protests in the United States are not uncommon, but what made this one unique was that its participants were gathered to advocate for the right to own and use cryptocurrencies. The location is also puzzling, as the Lone Star

Generative artificial intelligence models such as OpenAI’s ChatGPT are trained by being fed giant amounts of data, but what happens when this data is copyrighted? Well, the defendants in a variety of lawsuits currently making their way through the courts claim that the process infringes upon their copyright protections. For example, on Feb. 3, stock

The Russian government is no longer planning to launch a regulated national cryptocurrency exchange but rather wants to regulate multiple crypto trading platforms. After introducing a plan to create a national crypto exchange in November 2022, Russian lawmakers have abandoned the idea, according to State Duma member Anatoly Aksakov. As previously reported, the local government was

Millions of American television viewers, including those watching the NBA Finals, will soon see a new national ad campaign run by Coinbase. Titled “Moving America Forward,” the campaign is focused on explaining crypto and illustrating how it can help “update the system.” The ads add to the increasing pressure the company is putting on the

The 88th legislative session for the government of the state of Texas will end on May 29 without any resolution to certain bills affecting aspects of the digital asset space. According to Texas legislative records, lawmakers moved Senate Bill 1751 to the Committee on State Affairs on April 24 after passage in the state senate.

Last week, almost all the key markets for digital assets in Asia got updates from local regulators. Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures to trace cryptocurrency transactions from June 1.  According to reports, a vital feature of the new measures is the enforcement of the “Travel Rule” to keep a

A tentative deal aimed at stopping the United States government from defaulting on its debts would likely eliminate a proposed tax on the energy usage of cryptocurrency miners, according to Ohio Rep. Warren Davidson. On May 28, U.S. lawmakers released a draft of a bill allowing the government to increase the debt ceiling — an

The race to snatch up Hong Kong retail crypto traders is about to kick off, with several cryptocurrency companies announcing plans to apply for a license come June 1. On May 29, the Hong Kong-based crypto exchange CoinEx became the latest to signal its entry to the city, saying it’s launching a local platform called BitHK,

Cryptocurrency exchanges in Japan are preparing for the enforcement of the Financial Action Task Force’s Anti-Money Laundering (AML) regulations known as the Travel Rule. Major Japanese crypto exchange bitFlyer on May 30 announced the adoption of measures in response to the enforcement of stricter AML measures targeting crypto transactions in Japan. bitFlyer has introduced restrictions