Regulation

Securities regulators from Montana, Texas, and Alabama have jointly filed enforcement actions against cryptocurrency trading platform YieldTrust.ai alleging it is “perpetrating a Ponzi scheme.” According to April 4 statements from the Montanian, Texan and Alabamian regulators, YieldTrust.ai and its Romanian owner, Stefan Ciopraga, claimed the decentralized application (dApp) called “YieldBot” is “powered by cutting-edge artificial

The Texas Senate Committee on Business and Commerce has passed legislation that would largely remove incentives for miners operating under the state’s crypto-friendly regulatory environment.  In an April 4 session of the committee, Texas lawmakers agreed to move forward in a 10-0 vote on Senate Bill 1751 first introduced by state Senator Lois Kolkhorst. The

The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading. In an April 3 filing in U.S. District Court for the Western District of Washington, the SEC said it had reached “an agreement in principle” with Ishan

Major Brazilian investment bank BTG Pactual continues onboarding new cryptocurrency services with the launch of its own stablecoin backed by the U.S. dollar. BTG Pactual is preparing to launch the BTG Dol, a new stablecoin pegged to the U.S. dollar on a 1:1 ratio, using the bank’s custody services. Announcing the news on April 4,

Midjourney, an artificial intelligence (AI) service that generates images from natural language descriptions, recently banned the making of pictures of Chinese President Xi Jinping, much to the dismay of its users. However, the ban has not deterred its users from finding a workaround by creating deepfakes of Xi, which are manipulated digital representations produced by

INX has launched its first securities token issued by a public company, according to an Apr. 3 announcement from the tokenization platform. Public company shares on the blockchain?Witness the future in action!Proud to team up with @Greenbriarcorp to tokenize its GEBRF traditional shares in an industry-first!https://t.co/sS4p5MIwa3 — INX (@INX_Group) April 3, 2023 The new token

The Seoul Southern District Prosecutor’s Office has reportedly confiscated roughly $160 million worth of assets from eight people connected to the collapse of Terraform Labs, including co-founder Daniel Shin. According to an April 3 report from South Korean news outlet KBS, authorities seized roughly 210 billion won — $160 million at the time of publication

Last week brought troubling news for the world’s largest crypto exchange, Binance. The United States Commodity Futures Trading Commission accused the company and its CEO, Changpeng “CZ” Zhao, of trading violations. According to the lawsuit filed by the CFTC, Binance has conducted transactions for U.S. customers without proper registration since at least 2019.  According to

The United States Securities and Exchange Commission has announced a series of educational events targeting underrepresented communities and others — but suggested participants would be taught to “exercise caution” on crypto. In an April 3 announcement, the SEC said it will reach out to groups including high school students, members of the military, older investors,

In a warning letter released on Friday, Japan’s Financial Services Agency (FSA) said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration, violating the nation’s fund settlement laws. According to the warning letter, the FSA stated that the listed exchanges

An extended market price drawdown (crypto winter) throughout 2022 has tested the crypto industry’s mettle, and more recently, a crackdown by United States regulators on some prominent entities like Coinbase, Binance and Kraken has further shaken the sector. So maybe it’s only natural for the industry to employ colorful, vivid language to describe what’s been

Italy’s ban on conversational artificial intelligence (AI) ChatGPT sparked major controversy among the tech industry as well as in the country. The Italian Deputy Prime Minister Matteo Salvini expressed criticism that the block over privacy concerns seemed excessive.  On Friday, following concerns raised by the national data agency about possible privacy violations and failure to

The collapse of Silicon Valley Bank (SVB), which suffered a bank run after revealing a hole in its finances over the sale of part of its inflation-hit bond portfolio, led to a depegging event for major stablecoins in the crypto sector, leaving many to wonder whether it was a simple stress test or a sign

Just five days after Binance and its CEO Changpeng ‘CZ’ Zhao got sued by the United States Commodity Futures Trading Commission (CFTC) for alleged trading violations, a new $1 billion lawsuit was filed against the crypto exchange, CZ, and three crypto influencers for promoting unregistered securities. On March 31, the Moscowitz Law Firm and Boies

The U.S. government’s frosty approach to cryptocurrency regulation could ultimately see the industry’s “center of gravity” shift to Hong Kong, says Ambre Soubiran, the CEO of Paris-based institutional crypto market data provider Kaiko. The U.S. has been at the forefront of the crypto sector for quite some time, however, with the government seemingly adopting a

Regulatory trouble is nothing new for Binance, and on many occasions, in the past, it has managed to overcome or bypass such roadblocks and eventually work with regulators.  However, when it comes to the United States, the exchange has found itself in the cross-hairs of multiple agencies. A number of United States financial regulators have

The National Futures Association (NFA), the United States self-regulatory organization for derivatives markets, has issued a new compliance rule addressing members’ conduct. The new rule complements requirements issued in 2018. The NFA has “well over 100” members that engage in activities with digital asset commodities, but no way to address fraud or misconduct committed by

The dramatic collapse of crypto exchange FTX last November is not moving Bermuda away from receiving crypto companies, according to the head of the British island territory’s government during an interview with Bloomberg News.  “The future of finance is digital,” said the premier and finance minister Edward David Burt, who believes there are still considerable

The organization following the launch of the Central African Republic’s Sango Coin has announced a delay of its listing “just for a few weeks,” citing legal and regulatory obstacles.  In a March 31 message on its Telegram channel, the Sango Project said the government of the Central African Republic, or CAR, had made “significant progress”

Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad news, as losses were down from $1.3 billion in the first quarter of 2022. The recovery rate was down too, however. According to