Recently, the Indian government made an announcement that technology companies must seek government approval before publicly releasing artificial intelligence (AI) tools that are still in development or are deemed “unreliable.” This decision underscores India’s commitment to managing the deployment of AI technologies in order to ensure accuracy and reliability in the tools available to its
Regulation
The Securities and Futures Commission (SFC) in Hong Kong recently issued a warning to the public regarding suspicious websites that are impersonating licensed crypto exchanges in the city-state. According to the notice released on Mar. 4, these fraudulent websites are trying to deceive users by using the image and branding of well-known exchanges like Hash
The financial sector in Hungary is on the brink of a major transformation with the advancement of a legislative proposal that would allow banks, investment funds, and asset managers to offer services in Bitcoin and other cryptocurrencies. This move, as reported by Bloomberg Law on March 1, signifies a pivotal moment for Hungary’s financial industry,
Senator Elizabeth Warren has recently made headlines with her stance on the cryptocurrency industry. In a recent interview, Warren expressed a willingness to engage with the industry, but only if players adhere to regulatory standards similar to those in traditional finance. She raised concerns about the industry’s reluctance to crack down on illegal activities such
The recent move by a group of Senate Republicans to restrict the Federal Reserve’s capacity to introduce a central bank digital currency (CBDC) sheds light on the lack of understanding among lawmakers about the potential benefits of digital currencies. The proposed bill, named the Central Bank Digital Currency Anti-Surveillance State Act, is a reactionary response
The Energy Information Administration (EIA) recently faced backlash from members of the crypto mining sector, leading to the suspension of a survey aimed at collecting data from crypto mining firms. The lawsuit, launched by Riot Platforms and the Texas Blockchain Council, raised concerns about the EIA’s data collection practices, prompting the agency to halt enforcement
House Majority Whip Tom Emmer recently expressed his concern regarding the government’s data collection on Bitcoin mining firms. Emmer pointed out in a letter to the Office of Management and Budget (OMB) that the approval and expedited request from the Energy Information Administration (EIA) signal a new and mandatory information collection regime. The fact that
South Africa recently unveiled plans to integrate digital payments and cryptocurrencies into its financial system as part of its 2024 budget. The government aims to boost the economy, particularly for marginalized communities, through increased collaboration between the public and private sectors to foster financial innovation. The primary goal is to improve access to digital payment
In a recent development, Ladan Stewart, a key member of the US Securities and Exchange Commission’s legal team, has decided to leave her position to join a pro-crypto law firm. This move highlights the increasing importance of legal expertise in the cryptocurrency industry and the complexities surrounding regulation in this space. New Role at White
On Feb. 21, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, accused Binance of “blatantly setting exchange rate for Nigeria, hijacking CBN role,” in a scathing attack on social media platform X. He continued, “The EFCC and the CBN should move against these platforms trying to manipulate our national currency to Ground Zero.
