India has backed calls for a properly structured legal regime on digital assets globally in its latest release to the G20. The country which currently presides over the G20, an association of the world’s 20 leading economies has in recent months deliberated on its local crypto laws while making efforts towards embracing cross-border payments for…
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As Singapore does not allow dual nationality, 3AC co-founder Kyle Davies said he chose to renounce his U.S. citizenship after getting married and receiving permanent residency. Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the…
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Bavaria’s State Office for Data Protection Supervision (DPS) has initiated an inquiry into the Worldcoin project and its data collection techniques, as disclosed in a Reuters report on Monday. This comes shortly after similar investigations by Kenya’s Office of the Data Protection Commissioner (ODPC) and France’s National Commission for Informatics and Liberty (CNIL), who also…
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The U.S. Internal Revenue Service (IRS) has issued a decree stating that American citizens drawing income from cryptocurrency staking services must categorize the value of those digital assets as gross income, the moment they officially take possession of the staking reward. IRS Clarifies Cryptocurrency Staking Income, Leaves Questions Unanswered Under fresh tax directives from the…
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Apple is facing regulatory scrutiny in the US over its App Store guidelines, which allegedly hurt apps related to blockchain and non-fungible tokens (NFTs). In a formal letter, US Representatives Gus Bilirakis of the Republican Party, representing Florida, and Jan Schakowsky of the Democratic Party, representing Illinois, expressed their concerns directly to Apple CEO Tim Cook…. Read More: Apple’s App Store Guidelines Under Scrutiny by Lawmakers for…
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The U.S. House Financial Services Committee has passed four crypto bills. “Congress is asserting its authority to design a regulatory framework, rather than allowing overzealous federal agencies to fill the gap with enforcement actions,” said the CEO of Blockchain Association. US House Committee Advances 4 Crypto Bills The U.S. House Financial Services Committee passed four…
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“As president, on day one, CBDC goes into the trash can — we’re not going to allow it,” said Ron DeSantis at a New Hampshire campaign event. Florida Gov. Ron DeSantis has pushed a platform based partly on “economic independence” in his 2024 presidential campaign, specifically taking a stance on digital currencies. Speaking at a…
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A new report by McKinsey & Company suggests generative artificial intelligence (AI) technologies could boost global economic output by trillions of dollars annually. The study, titled “The Economic Potential of Generative AI” and published June 14, 2023, analyzes the impact AI tools like Chatgpt could have across sectors. McKinsey & Company Study: ‘Generative AI Is…
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According to the SEC, Richard Heart allegedly used more than $12 million of investor funds to buy “a 555-carat diamond, expensive watches, and high-end automobiles.” The United States Securities and Exchange Commission has filed a lawsuit against Richard Schueler, better known in the crypto space as Richard Heart, for alleged unregistered offerings of three tokens. …
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U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has called crypto “a highly speculative asset class” and a field that is “rife with fraud.” He stressed that there are far too many bad actors in crypto, noting that crypto platforms often commingle funds and trade against their customers. Gary Gensler Says Crypto Field Rife…
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