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BoE fintech head says crypto doesn’t ‘fulfill any of the functions of money’

At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies.

Former Coinbase product manager behind insider trading case sentenced to 24 months in prison

Ishan Wahi must surrender by June 21 to serve his sentence at the Fort Dix Federal Correctional Institution in New Jersey.

PayPal’s crypto holdings increased by 56% in Q1 2023 to nearly $1B

The lion’s share of the fintech’s held cryptocurrency assets lie in BTC and ETH with $499 and $362 million respectively — up more than 56% since Q4 2022.

$3.4B of Bitcoin in a popcorn tin: The Silk Road hacker’s story

The Silk Road hacker lived the high life for a decade with his stolen billions — but was caught due to a transfer of pocket change.

Coinbase legal chief sends letter to SEC on RIA rulemaking

Coinbase's chief legal officer requests revisions to SEC's RIA custody rule to safeguard all asset classes, including cryptocurrencies, criticizing the rule for unfairly targeting crypto.

Estonia squeezes out 400 crypto firms after new laws

Estonia’s money laundering regulator highlighted a number of issues it found within local crypto firms, such as dodgy execs and nonsensical business plans.

‘War on crypto’ — Newly filed letters lambast proposed SEC custody rules

Industry representatives have cast doubt on the legality and impact of the United States securities regulator’s proposal to expand custody rules.

FTX founder Sam Bankman-Fried urges court to dismiss charges

Lawyers representing Sam Bankman-Fried want all but three charges against him dismissed in a filing on May 8.

Argentina says no to crypto payments, France tolerates ‘finfluencers’: Law Decoded, May 1–8

Argentina’s central bank banned payment providers from offering crypto transactions, adding that it intends to reduce the country’s payment-system exposure to digital assets.

State-sponsored Chinese AI firm launches bot service to ‘surpass’ ChatGPT

Chinese tech company Iflytek recently made waves with the launch of its “Spark Model,” an AI system it says will surpass ChatGPT by the end of the year.

South Korean lawmaker allegedly cashed out while legislating on crypto: Report

National Assembly member Kim Nam-kuk had authority in handling laws related to digital assets in South Korea, reportedly backing a bill proposing a 20% crypto gains tax be deferred.

China issues first arrest over fake news created with ChatGPT: Report

Alleged fake news poster becomes first person in China arrested for using artificial intelligence platform ChatGPT.

‘Ethical’ SBF game axed, Web3 games sign-up process sucks, Tomb Chaser: Web3 Gamer

FTX’s kiss of death for Storybook Brawl, Scratch Lord creators make MMA game for Animoca, and why is Web3 game onboarding so awful?

Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse says

Ripple’s CEO reveals $200 million spent defending the SEC lawsuit, and laments about U.S. crypto regulation and a politics-first policy, advising entrepreneurs to avoid the United States.

China is developing AI without US chips: Here's how

U.S. sanctions have limited China’s access to the latest chip technology to develop AI, but local companies are not letting this stop them.

Hong Kong to step in as ‘options are dwindling’ globally — FinTech chair

Neil Tan, Chair of the FinTech Association of Hong Kong, said the opening of the financial industry to digital assets was “just a natural progression."

What is a Wells notice, explained

A Wells notice is a letter from the SEC indicating possible enforcement action against a person or a firm.

Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler’s Digest, April 30-May 6

Memecoin hype fuels Bitcoin transaction costs, BTC miners block rewards surpass $50 billion and AI’s “Godfather” warns of technology dangers.

Kazakhstan collected $7M in crypto mining taxes in 2022

Crypto miners paid millions of dollars in energy fees last year following the regulation of the fiscal burden of mining activities.

US Justice Department investigating Binance for violating Russian sanctions: Report

The DOJ’s national security and crime divisions are both looking at the cryptocurrency exchange’s provision of services to Russians, Bloomberg reports.

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