Senators in the United States will be briefed by the White House regarding artificial intelligence (AI) as lawmakers continue to mull over regulations for the technology. In a letter sent to fellow senators by Senate Democratic Leader Chuck Schumer on July 9, he announced the “first-ever” classified Senate briefing on AI with the Department of…
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Although China has closed its doors to decentralized cryptocurrencies, Circle CEO Jeremy Allaire believes that stablecoins could play a role in the proliferation of China’s digital yuan. Allaire, who heads up the company behind the United States dollar-backed stablecoin USD Coin (USDC), suggested that a yuan-based stablecoin might be China’s best bet for driving the…
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While the cryptocurrency community is actively discussing the upcoming Bitcoin (BTC) halving in 2024, there is potentially another big market event happening this year. The trustee of the hacked Bitcoin exchange Mt. Gox is set to finally repay the exchange’s creditors by the end of October 2023. If that happens, the cryptocurrency market could be…
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The Chinese government is considering additional regulations on artificial intelligence (AI) development that emphasize content control and licensing. According to a July 11 report from the Financial Times, the Cyberspace Administration of China (CAC) wants to impose a system requiring local companies to obtain a license before releasing generative AI systems. This move signals a…
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Bitcoin is accepted by various online merchants, travel companies, gift card retailers, food establishments and online service providers, offering diverse options for using cryptocurrency in transactions. While physical stores accepting Bitcoin are less common, they can be found in cryptocurrency-friendly locations. Online merchants Bitcoin is a common payment option accepted by many online merchants. Electronics,…
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The digital asset industry reached over $3 trillion at its peak in November 2021. However, the custodial part of the market remained at the more modest mark of $447.9 billion in 2022. These numbers are cited from a joint report on the state of digital asset custody conducted by the consulting firm PricewaterhouseCoopers (PwC) and…
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Bitcoin (BTC) staged a fresh breakout attempt into July 11 as the battle for yearly highs stayed hot. BTC/USD 1-hour chart. Source: TradingView $31,000 reappears in BTC price “leverage crunch” Data from Cointelegraph Markets Pro and TradingView showed BTC price briefly passing $31,000 before the July 10 daily close. In a copycat move, seemingly with…
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The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), “disrupted” 26 of the 34 cryptocurrency ATMs it visited and inspected since the start of 2023. On Feb. 14, the FCA gave an ultimatum to all crypto ATM operators in the U.K. — comply with regulations or wind down illegal operations. Following the warning, the…
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Crypto investment firm Paradigm’s Special Counsel Rodrigo Seira has become the latest to slam the United States securities regulator, this time for “wrongfully” pursuing crypto exchange Bittrex in an attempt to police secondary crypto markets. In a July 11 Twitter thread, Seira added his thoughts after an amicus brief filing from Paradigm, arguing that the…
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Dubai’s cryptocurrency regulator has suspended the license of crypto exchange BitOasis for not meeting mandated conditions within the timeframes set out by the authority. On July 10, the Virtual Assets Regulatory Authority (VARA) issued two alerts saying its undertaken enforcement action against BitOasis and is reviewing the Dubai-based firm. VARA said BitOasis’ conditional license, granted…
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