Blockchain security firm Quantamp is set to return $28 million raised in a 2017 initial coin offering (ICO) following charges brought by the United States Securities and Exchange Commission. The U.S. agency announced that it had formally charged the California-based firm on July 21 for conducting an unregistered ICO of “crypto asset securities.” According to…
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An Australian court has reportedly mandated that Meta Platforms, the owner of Facebook, pay fines amounting to $14 million (A$20 million) for collecting user data through a smartphone application, Onavo. According to a Reuters report, the Federal Court of Australia has directed Meta, along with its subsidiaries Facebook Israel and the discontinued app, to reimburse…
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In the current climate, which is pretty hostile for the digital assets industry following the failures of 2022, central bank digital currencies (CBDCs) are often perceived as “crypto killers.” This is hardly an overstatement, as financial authorities’ aspirations concerning CBDCs are relatively straightforward: return firmer control over the movement of money before it gets too…
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The controversial crypto project Worldcoin was launched for the public on July 24, making way for customers to scan their iris at designated locations in 20 countries and receive 25 WLD, the native token of the project. The project debuted on the back of 2 million pre-sign-ups, but interest seems to have faded following the…
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Bitcoin (BTC) traders braced for classic volatility on July 26 as the United States Federal Reserve interest rate decision dawned. BTC/USD 1-hour chart. Source: TradingView “Let the games begin” for Bitcoin — FOMC day arrives Data from Cointelegraph Markets Pro and TradingView showed BTC price action hovering near $29,200. While barely moving since the start…
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Binance has withdrawn its cryptocurrency custody license application in Germany. The exchange confirmed its withdrawal to Cointelegraph on July 26, nearly a month after reports of rejections from The German Federal Financial Supervisory Authority (BaFin). On June 29, BaFin reportedly rejected the crypto exchange’s custody license. However, at the time, it was unclear whether the…
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Big Tech giants Google, Microsoft, ChatGPT maker OpenAI and AI startup Anthropic announced on July 26 that they would form a new industry watchdog group to help regulate artificial intelligence (AI) development. In a joint statement released on the Google blog, the companies revealed their new Frontier Model Forum aimed at monitoring the “safe and…
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Cryptocurrency is deemed property capable of being held on trust, Judge Philip Jeyaretnam of the High Court of Singapore decided in a ruling on July 25. The Judge said he didn’t see any difference between crypto, fiat money or shells, as long as all those objects, physical or not, share value, created by mutual faith…
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On July 25, the United States Senate backed bipartisan legislation mandating U.S. companies to report any investments in Chinese technologies. In an overwhelming vote of 91 to 6, the Senate supported the amendment to the National Defense Authorization Act (NDAA), which is anticipated to be implemented later in 2023. The amendment will require U.S. companies…
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The National Crime Agency (NCA) of the United Kingdom is hiring two blockchain investigators for its newly formed Digital Assets Team within the Complex Financial Crime Team (CFCT) to tackle crypto crimes. The job involves overseeing complex investigations involving cryptocurrency and digital assets from a Proceeds of Crime Act (POCA) perspective. POCA relates to the…
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