Regulation

Twitter’s executive chairman Elon Musk continues to push for more regulatory oversight of artificial intelligence, claiming it may be “smarter than all humans at everything” in the future. In a video keynote address at a Chinese government-backed AI conference on July 5, Musk reportedly noted that governments should be concerned about deep intelligence, urging regulators

The Florida Office of Financial Regulation is considering action against United States-based cryptocurrency exchange Bittrex, which filed for Chapter 11 bankruptcy protection in May. In a July 5 filing with the U.S. Bankruptcy Court for the District of Delaware, Florida Office of Financial Regulation (OFR) assistant general counsel Brandon Greenberg said the state regulator had

Foreign residents of Israel could get an exemption from capital gains taxes on the sale of digital currencies. A bill that would grant that and other tax benefits for digital assets holders passed through preliminary reading in the country’s parliament (Knesset) on June 5.  The bill would also level up the crypto bonuses with stock

Twitter Payments LLC, a subsidiary of Elon Musk’s Twitter social network, appears to have received its first money transmitter licenses after Michigan, New Hampshire and Missouri approved the company’s applications.  NEWS: Twitter has finally secured its first money transmitter licenses in several US states. pic.twitter.com/gziiRgelYU — T(w)itter Daily News  (@TitterDaily) July 5, 2023 A

When the leaders of the American Revolution signed the Declaration of Independence on July 4, 1776, they had no guarantee of victory. The battle for independence was underway, and their prospects were uncertain. Despite occasional victories, these audacious freedom fighters were grossly outnumbered and had difficulty retaining volunteer soldiers. Their commitment to the cause of

Billionaire entrepreneur Mark Cuban has again locked horns with former securities chief John Reed Stark, this time over who was ultimately to blame for FTX’s collapse and the impact on creditors. During a heated back-and-forth exchange, Cuban argued had the United States Securities and Exchange Commission set “clear regulations,” no one would have lost money

Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation aimed at expanding authorities’ ability to target cryptocurrencies used for illicit purposes. In a meeting of the U.K. Parliament’s House of Lords on July 4, lawmakers conducted a third reading of the Economic Crime and Corporate Transparency Bill

The Chinese government has announced plans for export controls on metals predominantly used to manufacture semiconductors used in the development of artificial intelligence (AI) systems. On July 3, the Chinese Ministry of Commerce issued a joint statement with the General Administration of Customs which said the controls are aimed at protecting the interests of national

Despite recent narratives suggesting differently, the United States won’t be losing its allure as a crypto hub, according to the CEO of blockchain analytics firm Merkle Science. A swathe of hostile regulatory actions leveled at crypto firms in the United States in recent months has led many top crypto executives to turn their gaze elsewhere. Despite

European Union (EU) lawmakers have agreed to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community. The act, aimed at encouraging greater use of data resources to train algorithms, would update the EU’s rules on smart contracts to include a kill switch option that would allow them

The United Kingdom’s Law Commission is pushing for the creation of a ‘distinct’ category of personal property to accommodate and protect unique features of cryptocurrencies and digital assets. The body made the recommendation alongside three other key points following a mandate from the British government to carry out a common law analysis unpacking how legal

False rumors have again been spreading over the resignation of United States Securities and Exchange chair Gary Gensler — this time, however, artificial intelligence has seemingly played a part. On July 1, a news story appeared on a website dubbed “thecryptoalert.com” claiming that SEC chair Gary Gensler had “submitted his resignation following an internal investigation,”

Bittrex, a cryptocurrency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless

As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region. According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and

United States Senator Michael Bennet has urged tech companies to label AI-generated content and monitor any misleading content produced by artificial intelligence (AI).  In a June 29 letter sent to executives of major tech companies involved with AI, including ChatGPT creator, OpenAI, Microsoft, Meta, Twitter and Alphabet, Bennet stressed that users should be aware when

A federal court ordered crypto exchange Kraken to turn over account and transaction information to the Internal Revenue Service (IRS), which said it needed that information to see if any of the exchange’s users had underreported their taxes. As per the order issued on Friday, June 30, Kraken is required to provide details of users