A proposal by the United States securities regulator to tighten rules around crypto custody has been met with opposition from at least two proponents of the industry, according to recently filed letters. On May 8 — the deadline for comments on the proposal — crypto industry advocacy body Blockchain Association filed its letter to the…
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FTX founder and former CEO Sam Bankman-Fried (SBF) is seeking to have up to 10 criminal charges against him dismissed in court, arguing for several counts that there has been a failure to state an offense. According to court documents filed in the southern district court of New York on May 8, SBF’s legal team…
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Last week brought several significant international developments in regulation. Argentina’s central bank banned payment providers from offering crypto transactions, adding that it intends to reduce the country’s payment-system exposure to digital assets. While local payment providers refuse to comment on the decision, Argentina’s fintech chamber urged the government to reconsider, claiming that “it limits access…
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A state-subsidized Chinese artificial intelligence (AI) company recently announced the launch of “Spark Model,” an AI system designed to compete directly with OpenAI’s ChatGPT. The launch by the company, iFlytek, took place at a tech event in Hefei called “Spark Desk” and featured a full demonstration of the new system’s capabilities. .#China‘s leading intelligent speech and…
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Kim Nam-kuk, a member of South Korea’s National Assembly, reportedly liquidated more than $4 million worth of crypto prior to lawmakers in the country enforcing the Financial Action Task Force’s “Travel Rule”. According to a May 8 report from The Korea Times, authorities with the Korea Financial Intelligence Unit are investigating Kim for trading roughly…
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A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories. According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train crash was discovered on…
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For the past 17 days, Bitcoin (BTC) price has been trading within a narrow 8.5% range from $27,250 to $29,550, causing the 40-day volatility metric to drop below 40%. This wasn’t restricted to cryptocurrencies as the S&P500 index’s historical volatility has reached 17%, its lowest level since December 2021. But will $28,000 become the new…
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Liechtenstein Prime Minister Daniel Risch announced plans to accept Bitcoin (BTC) as payment for government services. As reported in local news, the micro-European nation continues to embrace blockchain technologies. Risch, who also serves as finance minister, is quoted as saying: “A payment option with Bitcoin is coming.” However, he did not give a timeframe. Moreover,…
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Here’s how Bitcoin (BTC) traders can profit whether its price move up or down 10% within 55 days. Bitcoin options: Bracing for volatility Traditional market analysts have started calling for a volatility spike due to the U.S. government debt discussion. Moreover, signs of stress coming from the banking sector took investors by surprise after the…
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Ripple has spent $200 million defending the case brought against it by the United States Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse. Garlinghouse dropped the figure during a fireside chat at the Dubai Fintech Summit on May 8. He stated that the U.S. is stuck compared with the regulatory progress of the United…
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