There is a “real risk” that the artificial intelligence industry could develop in a way that could end up with only a few firms dominating the market, while consumers are bombarded with harmful information, according to the United Kingdom’s competition watchdog. In a report published Sept. 18, the Competition and Markets Authority looked into AI…
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Legislation aimed at preventing “unelected bureaucrats in Washington” from issuing a central bank digital currency (CBDC) has been reintroduced by Representative Tom Emmer. On Sep. 12, Emmer and 49 original co-sponsors revived the “CBDC Anti-Surveillance State Act” in the United States House of Representatives in a bid, they claim, to protect Americans’ right to financial…
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Blockchain-based file-sharing and payment network LBRY may be reversing course on an earlier decision to wind down, filing a notice of appeal against a federal judge ruling in July that sided with the Securities and Exchange Commission. On Sept. 7, LBRY filed a notice of appeal to the United States Court of Appeals for the…
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The United States Financial Accounting Standards Board’s new rules for crypto accounting will eliminate the “poor optics” that plagued companies holding digital assets, according to analysts from Berenberg Capital. On Sept. 6, the U.S. Financial Accounting Standards Board (FASB) approved new rules for cryptocurrencies with regard to how companies report the fair value of their…
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Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin (BTC) fund to a spot exchange-traded fund (ETF). On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next steps following the regulator’s…
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A United States District Court has allowed a nearly three-year-long class action lawsuit against the creators of HelbizCoin to go ahead, as per a court ruling filed on Sept. 1. The class action suit was first brought against Helbiz, its CEO Salvatore Palella, and its partners in 2020, with an amended complaint filed in March…
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Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022, while hash rate has reached new highs. Over the past week, Bitcoin network hash rate topped 414 exahashes per second (EH/s) on Aug. 18…
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Ordinal inscriptions have continued to dominate activity on the Bitcoin network over the past week despite the cryptocurrency’s recent price decline and suggestions that the hype around Bitcoin NFTs have “died.” On Aug. 21, Ordinals developer “Leonidas” pointed out that Bitcoin had 530,788 transactions over the past 24 hours, with 450,785 of those transactions being…
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The approval for America’s largest digital asset exchange, Coinbase, to offer crypto futures to U.S. retail customers is being seen as a major regulatory victory amid a heated battle with the country’s securities regulator. On Aug. 16, the National Futures Association (NFA) — designated by the U.S. commodities regulator as a registered futures association —…
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Several on-chain metrics and charts are showing signals that could hint at the beginning of a new crypto bull market cycle, according to the co-founder of Delphi Digital. On Aug. 14, institutional crypto research firm Delphi Digital’s Kevin Kelly said that crypto markets are cyclical and predictable which “has huge implications for the crypto market…
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