UK Competition Watchdog Warns of AI Dominance and Potential Consumer Harm
The Economic Crime and Corporate Transparency Bill in the United Kingdom (UK), which aims to expand authorities' ability to combat illicit cryptocurrency usage and tackle crypto-related financial crimes, is nearing the final stages of approval by the House of Lords. This bill, introduced in Septembe ...
UK Competition Watchdog Warns of AI Dominance and Potential Consumer Harm
The United Kingdom's competition watchdog has expressed concerns about the potential for a small number of firms to dominate the artificial intelligence (AI) industry, which could lead to consumers being exposed to harmful information. In a report released on September 18, the Competition and Market ...
South Africa Introduces Licensing Regime for Cryptocurrency Companies
The South African Financial Sector Supervisory Authority (FSCA) has introduced a new licensing regime that requires cryptocurrency companies to be licensed to operate in the country within six months, starting June 1. The agency said the requirement is intended not only to ...
Bitcoin of America Suspends Operations in Connecticut and Compensates Victims for Cryptocurrency Fraud
Company Bitcoin of America, operator of the BTM crypto network, will suspend its operations in the U.S. state of Connecticut for lack of a license and pay compensation of $86,000. The local Department of Banking said Bitcoin of America illegally installed crypto machines ...
U.K. Parliament Proposes Regulating Non-Asset-Backed Cryptocurrencies as Gambling
The U.K. Parliament has released a 28-page report proposing to regulate cryptocurrencies that are not backed by real assets as gambling. The study stresses that such cryptocurrencies, including bitcoin and ether, could potentially be used for fraud and money laundering. ...
U.S. Senators’ Cryptocurrency Money Laundering Bill Delayed Due to Lack of Sponsorship
A bill to combat money laundering through cryptocurrencies, which U.S. Senators Elizabeth Warren and Roger Marshall are working on, has been delayed for lack of sponsorship. Elizabeth Warren and Roger Marshall first introduced the bill in December. It was aimed at obliging ...
Former SEC Official Claims Cryptocurrencies are Failing as an Investment Asset
Колишній співробітник правоохоронних органів SEC Джон Рід Старк назвав кілька причин, чому він вважає, що криптовалюти зазнають краху як актив для інвестицій. ...
UK Banks’ Refusal to Serve Crypto Companies Violates Customer Rights, Says Circle Development Head
The leader of development for Circle in the European market has denounced the British banking industry's rejection of cryptocurrency companies, arguing that it infringes on the rights of regular customers. Speaking at the Citi Symposium on Digital Assets, Teana Baker-Taylor claimed that the UK ba ...
California Assemblyman Proposes Licensing for Cryptocurrency Companies to Combat Fraud and Protect Consumers
The California Consumer Federation (CFC), a non-profit advocacy group, supported a bill by a member of the California Assembly to license cryptocurrency companies.. The updated bill was introduced by Timothy Grayson at the end of January. The project establishes a ...