While Changpeng “CZ” Zhao received a surprisingly moderate jail term, Oregon has become the sixth state to revoke, suspend or decline to renew Binance.US’ license.
Binance sued in Canada, CZ could serve 36 months in prison: Law Decoded
Cryptocurrency exchange Binance is under legal pressure in Canada and the Philippines, while U.S. prosecutors are demanding 36 months in prison for Changpeng Zhao.
Bank of Spain selects partners for CBDC testing
Cecabank, Abanca and Adhara Blockchain have been chosen from the 24 applications received over the past year.
Italy to tackle AI regulation as one of main priorities during G7 presidency
Prime Minister Giorgia Meloni said she wants to hold a special AI-focused session of G7 members before the first leaders’ summit, scheduled for June.
The Pope and US regulators warn about AI risks: Law Decoded
The head of the Catholic Church warned humanity of AI’s potential dangers and explained what needs to be done to control it.
Ripple issues white paper on CBDCs, reiterates belief in their potential
The white paper states that CBDCs help expand financial inclusion, streamlining cross-border payments and reinforcing monetary policy control.
Brazil signs its overseas crypto tax bill into law
Under the new taxes, Brazilian citizens will pay the state up to 15% of their crypto profits.
Basel Committee suggests introducing maturity limits for stablecoin reserve assets
Should longer-term assets be allowed as reserve assets, the committee believes these must overcollateralize the claims of stablecoin holders.
Crypto in the well and snake villain star in FCA’s pixelated animation
The United Kingdom’s financial regulator has published a pixelated, video game-styled Wild West cartoon to enlighten investors.
Tesla’s humanoid robot is now 30% faster, 22 pounds lighter
Tesla CEO Elon Musk has revealed a new prototype of its humanoid robot, Optimus Gen 2. It can dance and do squats.
CZ must stay, Do Kwon to be extradited: Law Decoded
A Seattle district court ruled out CZ’s departure to the UAE, and the Montenegrin justice minister plans to grant the United States request for Do Kwon’s extradition.
ChatGPT passes neurology exam for first time
LLM 4.0 from OpenAI answered 85% of the American Board of Psychiatry and Neurology’s questions correctly, implying potentially “significant” future uses for the technology.
Argentine crypto influencers hope Javier Milei will shun FATF Travel Rule
The Argentine president, inaugurated on Dec. 10, has promised to disband the country’s central bank but hasn’t made any official commitment to introduce Bitcoin-friendly legislation.
Kazakhstan blocked 980 unlicensed crypto exchanges in 2023
The Financial Monitoring Agency has also launched nine investigations into “illegal exchange operations” and money laundering.
BBVA migrates its crypto custody service to Ripple-owned Metaco’s Harmonize
Harmonize will allow the bank to connect to other blockchains, apart from Bitcoin and Ethereum, which suggests the potential expansion of BBVA’s crypto services.
British regulator adds Justin Sun-linked Poloniex to warning list after $100M hack
The Financial Conduct Authority warns that the crypto exchange is operating without proper authorization.
Kenyan crypto tax bill makes it through parliamentary committee
The Capital Markets (Amendment) Bill will now be introduced to the lower chamber of the Kenyan parliament.
Societe Generale issues its first green bond on Ethereum
The unsecured bond has a value of 10 million euros and a maturity of three years, with all the proceeds going for eligible green activities investments.
Taiwan will review global trends before deciding on crypto ETFs
The Financial Supervisory Commission considers itself to be “in the exploratory phase” for crypto exchange-traded funds.
Tax services are getting pushy to have crypto declared: Law Decoded, Nov. 27–Dec. 4
Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared.