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Binance Denies Reuters Report That It Commingled Customer Funds
23.5.2023
Binance is pushing back against a Reuters report that said the world’s largest cryptocurrency exchange commingled customer funds with company revenue in 2020 and 2021.
Binance Chief Communications Officer Patrick Hillmann called the story “weak,” in a five paragraph tweet on Tuesday....
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Bitget Restricts Use of AI Tools Following Troubling Results and Negative User Experiences
23.5.2023
Crypto derivatives exchange Bitget has decided to limit how much it uses artificial intelligence (AI) tools like ChatGPT due to the potential for misinformation.
According to the exchange, problematic results, including false information about crypto-related topics, have come from the use...
Global Standard Setter Recommends More Investor Protection Following Turmoil Over the Past Year
23.5.2023
The International Organization of Securities Commissions called for more consistency and protection for retail investors following turmoil over the past year in its newly drafted cryptocurrency recommendations.
IOSCO, which has members that regulate more than 95 percent of the world’s securities...
Baidu Ai Chatbot Raises Questions With Its Claim of 'improved' Communication
23.5.2023
Chinese-based multinational tech firm Baidu recently unveiled its latest AI chatbot, with intriguing claims about its capabilities.
According to Baidu, the new chatbot can communicate with zero errors on sensitive topics.
However, Baidu’s claims raise questions, given the extent of...
UK Parliament's Treasury Committee Calls for Cryptocurrency Regulation, Citing Gambling-Like Risks
23.5.2023
The UK Parliament’s Treasury Committee has called for unbacked cryptocurrencies to be regulated in the same way as gambling, saying speculation in these assets “more closely resembles gambling than it does a financial service.”
“Regardless of the regulatory regime, their price volatility...
TON Foundation Launches $25 Million Accelerator Program for Emerging Crypto Projects
23.5.2023
The TON Foundation, the entity which runs The Open Network (TON) blockchain, has unveiled a new accelerator program for emerging projects, allocating up to $25 million for supported projects this year.
"The funding, which is provided by Toncoin Fund, a $250 million ecosystem fund dedicated...
Republican Tim Scott Announces His Run for President — How Could That Affect Crypto?
23.5.2023
Republican Sen. Tim Scott, who could be an influential player in the cryptocurrency industry, announced his run for US president on Monday.
The South Carolina lawmaker formally announced his run on Twitter as a crowd gathered in Charleston, South Carolina.
Scott joins other candidates, including...
Ukraine’s Anti-corruption Bureau Unveils Plan to Fight ‘Crypto Corruption’
23.5.2023
Ukraine’s anti-corruption bureau has stated that it is probing the crypto sector to unmask money launderers.
In an official National Anti-corruption Bureau of Ukraine (NABU) release, the regulator said that it was teaming up with the United States Embassy for the drive.
The NABU said that...
BlockFi Sent Out Reorganization Plan ‘Prematurely,’ Court Orders Them Withdrawn
23.5.2023
Bankruptcy cryptocurrency lender BlockFi took back statements it made earlier this month about a plan to reorganize which it said was done “prematurely.”
BlockFi released a “corrective letter to creditors” on Friday, directed by the court, asking them to disregard certain statements posted to...
Crypto Exchange Coinbase Launches TV Campaign in Washington DC
22.5.2023
Cryptocurrency exchange Coinbase is honing in on Washington DC with a new TV campaign set to launch this week promoting the future of crypto amid its own fight with US regulators.
In a black and white and almost two-minute long video, CEO Brian Armstrong lays out the benefits of crypto and calls...
Malaysia Regulator Orders Crypto Exchange Huobi Global Limited To Stop Operations
22.5.2023
Cryptocurrency exchange Huobi Global Limited has to stop operations in Malaysia after its regulator found it was operating without being registered.
The Securities Commission Malaysia on Monday said the exchange has to disable its website and mobile apps on platforms including the Apple Store...
South Korean Prosecutors Buy Blockchain Analytics Tools in Bid to Bust ‘Crypto Money Laundering’
22.5.2023
South Korea’s prosecution service will buy new blockchain analytics software – and wants to use it to catch people laundering crypto overseas.
Per the domestic media outlet Economist, the new tools will be used to apply the same level of scrutiny to overseas exchanges as is currently applied...
Ripple Adds Nielsen CFO to Its Board of Directors
20.5.2023
Ripple is bringing on the chief financial officer of market researcher Nielsen to its board of directors, the crypto firm announced on Friday.
Warren Jenson was added to the board and was also appointed as Ripple’s chair of the audit committee, overseeing the auditing process of Ripple’s...
South Korean Justice Ministry Hits Out at Claims it ‘Refused to Say’ if Minister Owns Crypto
20.5.2023
South Korea’s Justice Ministry has hit out at claims that Minister Han Dong-hoon “refused to disclose information” about whether or not he owns crypto.
Per the media outlet Newsis, the ministry claimed that “the cryptoasset holding status of public officials who work with cryptoasset [regulation]”...
Bankrupt Crypto Firm Celsius May Receive Second Chance from Wall Street
19.5.2023
The now-bankrupt crypto lender Celsius Network may get a second chance with the help of Wall Street investment giants.
According to a Wall Street Journal article from Thursday, two groups of investment heavyweights are currently engaged in a bidding war for what remains of Celsius, close to a year...
US Lawmakers Introduce ‘First Bipartisan Bill’ Blocking a CBDC
19.5.2023
US lawmakers from both sides of the aisle introduced a bill this week to block the Federal Reserve from issuing a central bank digital currency.
Republican Rep. French Hill of Arkansas and Democratic Rep. Jake Auchincloss of Massachusetts introduced the bill this week, dubbed the Power of...
Texas Lawmakers Pass Proof-of-Reserves Cryptocurrency Bill
19.5.2023
The Texas legislature passed a bill this week requiring cryptocurrency exchanges to provide a “proof of reserves,” the latest move by the lone star state.
HB-1666, co-sponsored by state Republicans Rep. Giovanni Capriglione and Sen. Tan Parker, applies to digital asset service providers that...
Bankrupt FTX Sues to Retrieve Over $240 Million from Trading Platform Embed
19.5.2023
The bankrupt crypto exchange FTX is taking legal action in an attempt to retrieve more than $240 million it paid for the stock trading platform Embed.
Embed was acquired by FTX’s American branch FTX.US in mid-2022, but representatives for FTX’s bankruptcy estate now say former company executives...
Hardware Wallet Rivals Offer Discounts in Wake of Ledger New Product Controversy
19.5.2023
In response to the latest controversy related to hardware wallet specialist Ledger and its new service, competitors are taking advantage of the worries expressed by some users. Among others, hardware producer Trezor hopes to capitalize on Ledger’s trouble by offering a discount to buyers.
“Open...
Top Argentine Lawyers Hit Out at Crypto ‘Ban’ – Will Government Respond?
19.5.2023
Top Argentinian lawyers have criticized the government’s partial “ban” on crypto trading.
Buenos Aires has moved to block firms from letting their customers conduct transactions with cryptoassets.
This month, the Central Bank of Argentina stated that domestic platforms must not “facilitate”...