SEC sues Kraken alleging it violated securities laws

[ad_1] The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it failed to register as an exchange, broker, dealer and clearing agency with the regulator and claimed it commingled customer funds. In a Nov. 20 complaint, the SEC claimed that since 2018, Kraken had operated as a platform that offered the unlawful sale of cryptocurrencies."Without registering with the SEC in any capacity, Kraken has simultaneously acted as a broker, dealer,

Cambodian digital currency bakong amps up use case with Alipay agreement

[ad_1] The bakong, a digital currency operated by the National Bank of Cambodia (NBC), will provide users with access to the Alipay merchant network and enable cross-border transactions on Alipay+ using QR codes under a memorandum of understanding (MoU) signed at the FinTech Expo in Singapore, the local press reported.The bakong service operates by the NBC on a blockchain, but it is not a central bank digital currency (CBDC), as

US regulators continue to discuss crypto: Law Decoded, Nov. 13–20

[ad_1] The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s Chair, Representative French Hill, declared that as “phone and the internet aren’t to be

Crypto traders are looking at Dogecoin (DOGE) again — Here is why

[ad_1] When memecoins go parabolic, it’s usually a market top signal and a warning that investors’ euphoria has peaked. The market witnessed similar speculative fury in the 2020 to 2021 bull market when Dogecoin (DOGE) chased after $1, Shiba Inu (SHIB) rallied by tens of thousands of percent, and NFT prices hit eye-watering six to seven-digit highs. DOGE/USDT vs BTC/USDT weekly chart. Source: TradingViewDespite only being up 13.6% for the year,

Canadian regulator seeks feedback on crypto asset exposure disclosure requirements

[ad_1] Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto asset disclosure requirements for federally regulated financial institutions (FRFIs). The consultation was foreseen in the 2023 federal budget, but its timing is tied to a similar enquiry initiated by the Bank for International Settlements (BIS).The Canadian government stated in March that it would draw up crypto exposure guidelines for banks “to help protect

Bittrex Global announces all trading will be disabled as it winds down operations

[ad_1] Liechtenstein-headquartered cryptocurrency exchange Bittrex Global has announced it plans to wind down operations starting with the suspension of trading activity on Dec. 4.In a Nov. 20 update published to its website, Bittrex Global said all users with U.S. dollar holdings needed to convert their funds to Euros or cryptocurrency before Dec. 4 or risk being unable to withdraw the assets. On Dec. 4, the platform will suspend trading activities

Microsoft and Nvidia stocks reach all-time highs amid OpenAI CEO shuffle

[ad_1] Microsoft (MSFT) stocks hit an all-time high of $378.81 on Nov. 20 on the back of a tumultuous weekend for the AI sector involving the ousting of OpenAI CEO and co-founder Sam Altman. Not to be outdone, Nvidia (NVDA) stocks also reached an all-time high of $499.60, continuing a trend that’s seen its shares rise from a one-year low of $138.84.Both stocks have skyrocketed over the past few years,

US Justice Dept. is reportedly ready to settle with Binance for $4 billion

[ad_1] The US Justice Department is negotiating with Binance in an attempt to resolve its investigation into the company, according to a November 20 report from Bloomberg citing people familiar with the discussions. The agreement would require Binance to pay $4 billion in fines. In return, the company would be allowed to keep operating while complying with US laws. According to the report, the announcement of an agreement “could come

Event recap for North American Blockchain Summit

[ad_1] Once branded for a Texas-specific audience, the North American Blockchain Summit (NABS) shook things up in 2023 — changing its location and name as many United States lawmakers prepared for an election season.Hundreds of crypto and blockchain enthusiasts gathered in Fort Worth, Texas from Nov. 15-17 to network, discuss mining, and listen to politicians and industry leaders talk about developments in policy and regulation affecting the space. Among the

Scientists developed an AI monitoring agent to detect and stop harmful outputs

[ad_1] A team of researchers from artificial intelligence (AI) firm AutoGPT, Northeastern University, and Microsoft Research have developed a tool that monitors large language models (LLMs) for potentially harmful outputs and prevents them from executing. The agent is described in a preprint research paper titled “Testing Language Model Agents Safely in the Wild.” According to the research, the agent is flexible enough to monitor existing LLMs and can stop harmful outputs