The US Senate proposed the DEFIANCE Act in response to the growing proliferation of AI-generated, non-consensual explicit images, illustrated by recent deepfake incidents involving Taylor Swift. This bill aims to provide legal protection for victims and criminalize the production and distribution of such content. The United States Senate is currently considering the Infringement of Explicitly … Read more
Binance Labs, Puffer, Ethereum Staking, DeFi, Liquid Restaking, EigenLayer, Blockchain Innovation, Decentralization, Cryptocurrency Investment, DeFi Development Binance Labs, the venture capital and incubation arm of global cryptocurrency exchange Binance, has announced a strategic investment in Puffer. This venture marks a remarkable advance in the world of decentralized liquid re-staking protocols (nLRP), focusing particularly on the … Read more
FTX aims to fully reimburse its customers and creditors as part of its restructuring plan. This payout-focused approach without relaunching the exchange is based on asset valuations as of November 2022, prompting mixed reactions from the crypto community. FTX, once a leading name in the cryptocurrency exchange world, faced a steep decline in late 2022. … Read more
Singapore’s High Court has upheld DeFiance Capital founder Arthur Cheong’s trusts over assets contested in bankruptcy proceedings, establishing the rights of investors in cryptocurrency assets and trust law. Singapore’s High Court recently ruled against Three Arrows Capital (3AC), a bankrupt cryptocurrency hedge fund, in its attempt to dismiss a lawsuit brought by Arthur Cheong, the … Read more
Three families of victims of the Hamas attack on Israel have filed a lawsuit against Binance, its former CEO Changpeng Zhao, Iran and Syria, alleging they support terrorism. The suit alleges that these parties have provided significant aid to Hamas, highlighting the challenges of regulating cryptocurrency in the fight against terrorist financing. Three families affected … Read more
The SEC dropped its case against Debt Box, accusing it of a $50 million fraudulent scheme, paving the way for future charges and a significant shift in the regulatory landscape of crypto firms. The US Securities and Exchange Commission (SEC) has decided to withdraw its case against Debt Box, a crypto company, after verifying the … Read more
Hong Kong’s PCPD is investigating Worldcoin, linked to OpenAI’s Sam Altman, for potential privacy violations in biometric data collection methods, highlighting global privacy concerns in the crypto and blockchain industry. The Hong Kong Privacy Commissioner (PCPD) has initiated investigation into Worldcoin, a project associated with Sam Altman, CEO of ChatGPT’s parent company OpenAI. This investigation … Read more
China is set to implement major revisions to its Anti-Money Laundering Law by 2025, marking the first major overhaul since 2007. The amendments focus on the inclusion of cryptocurrency transactions to combat the growing crypto-related money laundering crimes. China is preparing to overhaul its anti-money laundering (AML) laws, with a significant focus on cryptocurrency transactions. … Read more
SEC Commissioner Hester Peirce publicly disagreed with the agency’s refusal to change the 1972 remarks rule, which raised concerns about its impact on free speech and regulatory integrity. The rule barring defendants from criticizing the SEC’s post-settlement claims has been challenged for its constitutional implications. On January 30, 2024, Securities and Exchange Commission (SEC) Commissioner … Read more
Visa partners with Transak using Visa Direct for seamless cryptocurrency withdrawals and payments worldwide. This collaboration allows users to convert over 40 cryptocurrencies directly from wallets like MetaMask to fiat, improving crypto-to-fiat transactions and accelerating mainstream crypto adoption. Visa recently announced a partnership with Transak, a leading Web3 infrastructure provider, to introduce cryptocurrency withdrawals and … Read more