The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) on Oct. 20 jointly released a consultation paper featuring two drafts. These drafts encompass the assessment of the suitability of management body members and shareholders or members holding qualifying stakes in issuers of asset-referenced tokens (ARTs) and crypto-asset service providers (CASPs). The…
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In the fraud trial of Sam Bankman-Fried, prosecutors have requested the judge inform the jury that the defendant’s assertion that he is an effective altruist should not serve as a legitimate defense. Bankman-Fried faces allegations of misappropriating billions of dollars from FTX customers for personal purposes, such as political contributions, real estate and investments. In…
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Elon Musk, Mark Cuban, with others, have collaboratively submitted a shared amicus brief to the Supreme Court, wherein they raise concerns about the Securities and Exchange Commission’s (SEC) approach to conducting internal proceedings without the inclusion of juries. Mark Cuban, a billionaire crypto investor and DeFi advocate who actively engages in the cryptocurrency space, and Elon Musk,…
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The United Kingdom will be hosting the world’s inaugural international summit on artificial intelligence (AI) safety in November 2023. This event seeks to establish the U.K.’s presence as a mediator between the United States, China and the European Union in the critical field of technology post-Brexit. The summit scheduled for Nov. 1–2 will place significant…
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Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States due to customer demand. The carmaker also plans to accept crypto payments in Europe. According to an Oct. 14 report from Reuters, Ferrari’s chief marketing and commercial officer, Enrico Galliera, confirmed the intentions of the luxury car brand. Ferrari’s choice to…
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President of the Regional Government of Madeira, Miguel Albuquerque, has announced plans to create a Bitcoin (BTC) business hub to drive regional innovation. The statement was made during a fireside chat with Prince Filip Karađorđević of Serbia on the second day of Bitcoin Amsterdam 2023. Karađorđević expressed interest in the new Bitcoin business hub, emphasizing…
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China has released draft security regulations for companies providing generative artificial intelligence (AI) services, encompassing restrictions on data sources used for AI model training. On Wednesday, Oct. 11, the proposed regulations were released by the National Information Security Standardization Committee, comprising representatives from the Cyberspace Administration of China (CAC), the Ministry of Industry and Information…
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On Friday, Oct. 6, two senior Republican members of the United States House of Representatives urged the Biden administration to strengthen the enforcement of export controls on advanced semiconductors to China. In a letter addressed to National Security Adviser Jake Sullivan, Representative Michael McCaul, chairman of the House Foreign Affairs Committee, and Representative Mike Gallagher, chairman of…
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The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO. The DOJ submitted a letter motion in limine on Sept. 30 describing the witnesses it intends to call concerning FTX’s treatment of customer assets. The…
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Paradigm, a crypto venture capital firm, has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in their current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm pointed out that the SEC is attempting to use the concerning accusations in its…
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