The President of Brazil, Luis Inácio Lula da Silva, has signed a law introducing taxes on crypto assets held abroad by Brazilian citizens. Lula signed the law on Dec. 12, which was then published the following day in the Diário Oficial da União, or the Official Diary of the Union. The law will come into force from…
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A panel of regulators warned that the rapid adoption of artificial intelligence (AI) could pose new risks to the United States financial system if the technology is not adequately supervised. The Financial Stability Oversight Council (FSOC), which is comprised of top financial regulators and chaired by U.S. Treasury Secretary Janet Yellen, flagged the risks posed…
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Over the past year, there’s been no shortage of scientists, tech CEOs, billionaires and lawmakers sounding the alarm over artificial intelligence (AI) — and now, even the Pope wants to talk about it too. In a hefty 3,412-word letter dated Dec. 8, Pope Francis — the head of the Catholic Church — warned of the…
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United States Securities and Exchange Commission (SEC) chair Gary Gensler has hinted that the regulator has been rethinking its approach to spot Bitcoin (BTC) exchange-traded products following a recent Grayscale court decision. Speaking to CNBC on Dec. 14, Gensler was questioned about the long list of pending spot Bitcoin exchange-traded fund (ETF) applications. He said the…
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The token of decentralized finance protocol SafeMoon has fallen 31% in five hours after the company behind it filed for bankruptcy. SafeMoon officially applied for Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” in a Dec. 14 filing to the United States Bankruptcy Court for the District of Utah. The voluntary petition was filed by attorney…
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Venture capital firm Andreessen Horowitz (a16z) hopes to push pro-crypto and artificial intelligence (AI) regulation forward with a seemingly new strategy: throwing money at politicians. “If a candidate supports an optimistic technology-enabled future, we are for them. If they want to choke off important technologies, we are against them,” wrote Ben Horowitz, one of the…
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The North American Electric Reliability Corporation (NERC), a nonprofit corporation that oversees regional organizations that support energy reliability, has released its annual long-term reliability assessment of the United States electrical grid. It identified large portions of the United States and Canada as high- or elevated-risk areas for energy reliability. Those areas included Texas, where the…
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The self-regulatory trade association CryptoUK has reported roughly 5% of all members of Parliament (MPs) in the United Kingdom have publicly spoken on crypto and blockchain, suggesting a lack of knowledge. In a report released on Dec. 14, CryptoUK analyzed the sentiment of MPs between 2022 and 2023, finding that only 37 lawmakers specifically mentioned…
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Bitcoin (BTC) faced a sharp correction on Dec. 11, plummeting as much as 8% to a four-month low at $40,150, wiping out the gains of the past seven days. This drop in BTC’s price has triggered a marketwide reevaluation, prompting a debate on the potential for altcoins to spearhead the next significant rally in the…
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Few world leaders have been openly supportive of digital assets while in office or while they were campaigning. Though the technology is relatively young and untested as a political issue, many candidates have staked their reputations on crypto and blockchain. Nayib Bukele, El Salvador Now the former president of El Salvador as he campaigns for…
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