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UK to target potential AI threats at planned November summit

The summit scheduled for Nov. 1-2 will place significant emphasis on the potential existential threat that AI represents, a concern shared by several legislators.

Future of DAOs limited by lack of regulatory framework: ECB Occasional Paper

Uncertain regulatory conditions continue to have a negative impact on the sustainable growth of the DAO ecosystem, revealed a new European Central Bank occasional paper.

Coinbase lobbying efforts face setback from Hamas’ crypto use: Berenberg analysts

Reports of Hamas using crypto to fund recent attacks in Israel could make Coinbase’s lobbying efforts more difficult, says Berenberg lead analyst Mark Palmer.

Pro-crypto lawmaker stays interim US House Speaker as frontrunner loses first round of voting

Ohio Representative Jim Jordan, the Republican Party's nominee for Speaker, won the support of 200 of his colleagues in an Oct. 17 vote — below the 217 needed to hold the position.

South Korean regulator outlines steps to enhance digital asset legislation

The Virtual Asset Users Protection Act was passed in June without a sufficient regulatory framework, the head of South Korea’s Financial Supervisory Service said.

US expands export controls for AI semiconductor chips to China

The expanded export controls of AI semiconductor chips include a new performance threshold, licensing requirements expansions and a notification requirement, among others.

Europe's AML regulations come at a high cost — for your privacy and otherwise

The European Union’s anti-money laundering laws infringe upon personal privacy, and they come with costs that are simply too high.

Fed governor Bowman doubles down on CBDC skepticism, likes stablecoin no better

Michelle Bowman told a university audience that financial innovation should be justified by need and be properly regulated.

Nishad Singh says there was 'a lot' he didn't remember about FTX in 2022 — SBF trial

Sam Bankman-Fried's defense team cross-examined former FTX engineering director Nishad Singh following questions from the prosecution on Oct. 16.

Binance US asks users to convert USD into stablecoins for withdrawals

Binance US users “may convert” their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts, the firm said.

Russian telecoms giant MTS announces ads service targeting Telegram users

Telegram denies that it has entered any advertising-related agreements with Russian companies.

Crypto investor protections in EU won’t take effect until late 2024

Crypto asset service providers may not benefit from full rights and protections afforded to them under MiCA until as late as July 2026, the ESMA said.

Banks’ crypto exposure must be disclosed: BIS’ Basel Committee

The proposed regulations are currently open to the public for comments and if approved they will come into effect by Jan. 1, 2025.

UK’s ‘Help with Fees’ scheme won’t define crypto as disposable income

The Ministry of Justice’s proposed ‘Help with Fees’ scheme will not classify cryptocurrencies as disposable income following a public consultation.

Canada central bank assesses innovations and challenges of DeFi

The staff note suggested that although the DeFi ecosystem brings a ton of innovations in the financial sector the regulatory challenges and vulnerability limit its potential use in traditional finance.

‘I’m still not seeing it’ — Judges skeptical of Ryder Ripps’ BAYC appeal

The lawyer representing Ryder Ripps and Jeremy Cahen struggled to convince a panel of judges that Yuga Labs’ case against his clients should be thrown out under California’s anti-SLAPP statute.

FTX customers could get $9B shortfall claim payout by mid-2024

A proposed settlement could see creditors receive a shortfall claim of $8.9 billion for FTX.com and $166 million for FTX US.

Pennsylvania crypto mining permit halt cut from bill after union pressure

The bill’s sponsor Greg Vitali included a clause that instead subjects miners to ongoing reporting requirements to get the bill past a House Committee.

NYC mayor releases plans for responsible AI usage in local government

The administration for the mayor of New York City has released a plan for creating a framework for government agencies to utlitize AI, along with the pilot of the city’s first AI chatbot.

Former FTX engineering director faces up to 75 years in prison following guilty plea

Nishad Singh's testimony was seemingly part of prosecutors' strategy to establish Sam Bankman-Fried had been behind Alameda Research using FTX user funds.

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