The Securities and Futures Commission (SFC) in Hong Kong recently raised concerns about Bybit, placing it on its list of suspicious virtual asset trading platforms. The SFC highlighted that Bybit is operating without the necessary license required to conduct regulated activities in Hong Kong. This warning specifically targets 11 products offered by Bybit, including futures
Regulation
The blockchain analytics firm Elliptic recently uncovered that the North Korea-backed hacker group Lazarus has once again resorted to using the sanctioned crypto mixer Tornado Cash to obscure its transactions. This surprising move comes after the group had stopped using the crypto mixer last year following US government sanctions. These sanctions were a result of
Tether, a major stablecoin issuer, recently took a significant step in fighting against fraudulent schemes by collaborating with the US Department of Justice and the FBI. The joint effort resulted in the seizure of $1.4 million USDT associated with a tech support scam network that targeted vulnerable elderly individuals. The scammers exploited deceptive pop-up advertisements
The Biden administration recently unveiled its proposed budget for the year 2025, which includes provisions aimed at regulating digital assets. These proposed measures are anticipated to result in an additional $10 billion in tax revenue by 2025. The main objective of these regulations is to close existing loopholes that have allowed wealthy crypto investors to
Wyoming has taken a progressive step towards recognizing blockchain-based decentralized autonomous organizations (DAOs) as legal entities. The recently passed bill, known as the Decentralized Unincorporated Nonprofit Association Act (DUNA), signifies a significant development in the regulatory landscape for DAOs. This legislation allows eligible nonprofit organizations to establish governance systems utilizing distributed ledger technology (DLT), such
Worldcoin developer Tools for Humanity recently filed a lawsuit against Spain appealing the country’s ban on its data collection and usage. The developers argue that Spain’s regulators bypassed the standard process for EU GDPR rules, leading them to take legal action. Despite claims from Spanish regulators, the developers maintain that they are fully compliant with
Tether Limited has recently signed a Memorandum of Understanding with Uzbekistan’s National Agency of Perspective Projects (NAPP) to collaborate on developing a regulatory and legal framework for digital assets in the country. This strategic partnership aims to position Uzbekistan as a central hub for blockchain and peer-to-peer telecommunication technologies, with a focus on promoting innovation
US Federal Reserve Chair Jerome Powell recently made a statement during a Senate Banking Committee hearing, where he emphasized that the Fed is far from adopting or recommending a central bank digital currency (CBDC). Powell sought to allay fears regarding privacy concerns, asserting that the Federal Reserve would not support a system that allows for
The Securities and Exchange Commission (SEC) recently filed a joint motion requesting the court to take additional action against Binance.US. The SEC claims that the exchange has failed to comply with regulatory requests for information on customer assets. They argue that Binance.US’s inspections have been insufficient, critical questions have been left unanswered, and the firm
The Indian government recently made a significant announcement requiring technology companies to seek government approval before publicly releasing artificial intelligence (AI) tools still in development or deemed “unreliable.” This move comes as part of India’s efforts to oversee the deployment of AI technologies, with a focus on ensuring accuracy and reliability in tools available to