SEC chair Gensler condemns ‘AI washing’ after regulatory action against 2 companies

US SEC chair Gary Gensler condemned “AI washing ” or the abuse of artificial intelligence (AI) and said such activities “may violate the securities laws.” Gensler made the statements on March 18 in tandem with lawsuits and regulatory action by the SEC against AI washing, which occurs when members of the financial sector make false… Continue reading SEC chair Gensler condemns ‘AI washing’ after regulatory action against 2 companies

Nigeria intensifies probe into Binance with court-ordered data disclosure

A Federal High Court in Nigeria has ordered Binance to provide detailed information on all its Nigerian users to the country’s foremost anti-corruption agency — the Economic and Financial Crimes Commission (EFCC). The ruling comes amid rising tensions between the crypto exchange and Nigerian authorities over the past month as the country’s fiat currency collapsed… Continue reading Nigeria intensifies probe into Binance with court-ordered data disclosure

Asia’s crypto revolution: Web3 growth in the East

Over the years, the Asia Pacific region (APAC) has established itself as an impressive environment for the rapidly growing technology industry. From the bustling tech hub of Singapore to the financial might of Hong Kong, the flourishing Web3 community in Vietnam, and the impressive technological creativity of Japan, APAC has consistently been at the forefront… Continue reading Asia’s crypto revolution: Web3 growth in the East

Grayscale amends Ethereum ETF filing, says investors ‘want and deserve’ the fund

Grayscale amended a regulatory filing through which it intends to convert its Ethereum Trust to a spot exchange-traded fund (ETF). The company’s March 15 amendment strengthens its earlier filing in multiple ways. The update supports the argument that surveillance sharing within the CME ETH market is sufficient to protect against fraud and manipulation in the… Continue reading Grayscale amends Ethereum ETF filing, says investors ‘want and deserve’ the fund

Hong Kong SFC expands violations list adding MEXC for unlicensed operations

Hong Kong financial regulator, the Securities and Futures Commission (SFC), issued a public warning about MEXC’s unlicensed operations within its jurisdictions. SFC stated : “The entity purports to be a virtual asset trading platform operating at the above website. It has been targeting Hong Kong investors but is not licensed by the Securities and Futures… Continue reading Hong Kong SFC expands violations list adding MEXC for unlicensed operations

US senators push SEC to reject other crypto ETF proposals, casting doubt on Ethereum ETF approval chances

The chances of approval for the pending spot Ethereum exchange-traded fund (ETF) applications this May are strained as two US Senators urged the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. In the March 11 letter to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler advised the financial regulator to… Continue reading US senators push SEC to reject other crypto ETF proposals, casting doubt on Ethereum ETF approval chances

Hong Kong adds Bybit to its list of suspicious crypto exchanges

Hong Kong’s Securities and Futures Commission (SFC) has added Bybit to its list of suspicious virtual asset trading platforms and issued a public warning about its unlicensed operations. In a March 14 warning, the SFC said the platform is unlicensed and expressed concerns that Bybit has offered its products to Hong Kong investors. Unlicensed operations… Continue reading Hong Kong adds Bybit to its list of suspicious crypto exchanges

Hackers like Lazarus continue to use Tornado Cash despite US sanctions

Blockchain analytics firm Elliptic revealed that the North Korea-backed hacker group Lazarus is once again using sanctioned crypto mixer Tornado Cash to obfuscate its transactions. Last year, the group ceased using the crypto mixer after US government sanctions , which were imposed due to allegations of aiding criminals in laundering illegally obtained digital assets. Following… Continue reading Hackers like Lazarus continue to use Tornado Cash despite US sanctions

Tether collaborates with FBI to recover $1.4 million in scam targeting seniors

Stablecoin issuer Tether collaborated with the US Department of Justice and the Federal Bureau of Investigation (FBI) to seize $1.4 million USDT associated with a tech support scam network, according to a Mar. 12 statement . The fraudulent scheme targeted vulnerable elderly individuals through deceptive pop-up advertisements. These misleading ads falsely alerted victims to compromised… Continue reading Tether collaborates with FBI to recover $1.4 million in scam targeting seniors

Biden’s 2025 budget targets crypto tax loopholes, expands digital asset oversight

The Biden administration released its proposed budget for 2025 on March 11, which includes provisions to implement a series of regulatory measures targeting digital assets. The proposed rules are expected to generate nearly $10 billion in additional tax revenue by 2025. Closing loopholes The new budget proposals specifically target a loophole that has previously allowed… Continue reading Biden’s 2025 budget targets crypto tax loopholes, expands digital asset oversight