Montenegro’s minister of justice will make the final decision on Do Kwon’s extradition to either South Korea or the United States. The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States. The High Court of Podgorica has determined…
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Consensys senior counsel and director of global regulatory matters Bill Hughes spoke at the North American Blockchain Summit on crypto bills and their role in politics. Amid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital…
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The Nov. 22 letter claimed that “only mandamus will impel the [SEC] to fully, finally acknowledge that Coinbase’s petition for rulemaking was pocket-vetoed long ago.” United States-based cryptocurrency exchange Coinbase has renewed its call to compel the Securities and Exchange Commission (SEC) to respond to the company’s petition to create rules on crypto, using the…
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The Federal Trade Commission unanimously approved a measure to streamline its staff’s ability to issue civil investigative demands in AI investigations while retaining its authority to determine when CIDs are issued. The United States Federal Trade Commission (FTC) approved a new streamlined process for investigating cases involving the unlawful use of artificial intelligence (AI), marking…
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Julian Sancton, an author and Hollywood reporter, accuses Microsoft of being aware of OpenAI’s indiscriminate internet crawling for copyrighted material. OpenAI and Microsoft are facing a lawsuit alleging the improper use of nonfiction authors’ work to train AI models, including OpenAI’s ChatGPT service. Author and reporter Julian Sancton sued the companies on Nov. 21. OpenAI…
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U.S. government agencies have spent months, sometimes years, investigating Binance in the lead-up to unsealing an indictment against the exchange. Binance and its founder Changpeng”CZ” Zhao has admitted to violating United States laws around money laundering and terror financing — agreeing to pay $4.3 billion in fines. The Justice Department’s probe into Binance started years…
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Cryptocurrencies flash mixed signals as market participants digest the details of CZ’s guilty plea and the DOJ’s $4.3 billion settlement with Binance. Crypto markets were subjected to a heavy dose of volatility on Nov. 21 as the United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC) and U.S. Treasury announced a $4.3-billion settlement…
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The stablecoin issuer reported the illicit funds had been used by a Southeast Asia-based crime syndicate responsible for a “pig butchering” romance scam. Stablecoin issuer Tether froze roughly $225 million worth of USDT tokens as part of an investigation into a Southeast Asia human trafficking syndicate launched by the United States Department of Justice (DOJ). …
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According to prosecutors, Lee Jeong-hoon intended to revamp Bithumb’s governance to gain from exchange coins, circumventing financial regulations. Lee Jeong-hoon, the former chair of Bithumb, one of South Korea’s major cryptocurrency exchanges, is at the center of a legal battle and might face an eight-year prison sentence, with a verdict scheduled for Jan. 18, 2024.…
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The report from the International Organization of Securities Commissions provides a thorough explanation of regulatory expectations. The International Organization of Securities Commissions (IOSCO) — an international regulatory body overseeing global securities markets — has released its conclusive report containing policy suggestions for crypto and digital asset (CDA) markets. The suggestions within the report play a…
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