While Ted Cruz and Ron DeSantis attack the idea of American CBDC, Texan lawmakers propose to create a statewide one. The topic of central bank digital currencies is in the crossfire of United States politicians, with figures like Ron DeSantis and Ted Cruz trying to prevent them from existing. But what about a statewide digital…
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The investigation looked into complaints of Robinhood’s system outages that caused users to miss out on trades while many of its services were unavailable. The California Department of Financial Protection and Innovation said that the company behind cryptocurrency and stock trading platform Robinhood will likely pay more than $10 million in penalties “for operational and…
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At least 111 BlockFi borrowers had continued repaying loans between Nov. 11 and Nov. 22, even though they didn’t need to, according to court documents. Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading halt on Nov. 10 last year. …
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The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and…
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Google Cloud, the remote services division of the software giant, has announced a partnership with blockchain company Tezos to become a block validator (“baker”) in its network. As part of this partnership, Google Cloud will also offer Tezos validation services through its platform, allowing easier deployment for customers worldwide. Google Cloud Partners With Tezos Google…
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The regulator receives thousands of consumer and investor complaints about possible crypto scams each year, and it appears it’s done something with the information. The California Department of Financial Protection and Innovation has launched a new crypto scam tracker to help traders and investors spot possible industry threats. zDFPI launched the tracker on Feb. 16. It’s based…
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Sam Bankman-Fried is, for the most part, still able to freely access the internet through various devices. Prosecutors want to change that. Sam Bankman-Fried, the former CEO of crypto exchange FTX, may no longer be able to play League of Legends and other video games if newly proposed changes to his bail conditions from United…
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Assemblymember Timothy Grayson introduced the Digital Financial Assets Law to protect Californians from financial hardship and foster responsible innovation. The Consumer Federation of California (CFC), a nonprofit advocacy organization working for consumer rights, sponsored a bill that seeks to license and regulate the activities of cryptocurrency exchanges. The legislation demanding regulatory oversight of crypto businesses…
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The Department of Motor Vehicles in California plans to use blockchain technology for record keeping, including the issuance of car ownership and simplifying transfers of such ownership. The DMV has tapped a private fork of the Tezos blockchain, an open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts,…
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The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blockchain. The project, which will use the Tezos blockchain and has the assistance of Oxhead Alpha, a crypto dev company, aims to allow users to transfer titles as NFTs in the future.…
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