Regulation

The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York District Court filing signed on April 6 and made public on April 10, Nikhil Wahi — brother of former Coinbase product manager Ishan Wahi — will

Regulators in the United States have been piling on the pressure on the crypto space over the last year, even more so in light of the FTX demise and collapse of Silicon Valley Bank (SVB). Now, according to a job posting on the official government website, the U.S. Securities and Exchange Commission is seeking to

Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing major fines. Bitmain Technologies has been slapped with a tax penalty from the Beijing Municipal Office of the State Administration of Taxation, the local news agency Sina Finance reported on April 11. The authority fined Bitmain about 25 million

The new R&D law has overly broad language that states “any and all” software development must be amortized over five years if the development took place in the United States, or over 15 years if the work was done overseas. The change doesn’t sound so bad on its surface; some argue it might even create

New York Times’s latest report on Bitcoin (BTC) mining, titled “The Real-World Costs of the Digital Race for Bitcoin,” has irked many BTC proponents. A number of Bitcoin proponents took to Twitter to call out certain aspects of the report calling it “cheery picking data.” The NYT article calls Bitcoin mining a “voracious” appetite and claims

Japan has shown support for OpenAI amid a sea of bans by different countries and uncertainties for the artificial intelligence (AI) company. Chief Cabinet Secretary Hirokazu Matsuno stated on Monday, April 10, that Japan would contemplate incorporating AI technology into government systems, such as OpenAI’s ChatGPT chatbot, provided privacy and cybersecurity issues are addressed. Following

Japan-based decentralized autonomous organization (DAO) Sushi’s head chef Jared Grey and his counsel stated that as far as they know, no one associated with Sushi has violated U.S. federal security laws, while providing reassurance that he is cooperating with the United States Securities and Exchange Commission (SEC) subpoena. In an April 8 statement, Grey answered the

Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC). Senator Bryan Hughes introduced Senate Bill 2334 on March 10, with Representative Mark Dorazio introducing House Bill 4903 on the same day,

Top Stories This Week Bitcoin white paper is apparently hiding in Apple’s modern macOS Satoshi Nakamoto’s original white paper laying out the thesis for the Bitcoin network is seemingly hiding within every modern version of the operating system for Apple’s Mac computers. An April 5 blog post from technologist Andy Baio revealed that a PDF

A widely shared video of European Central Bank (ECB) President Christine Lagarde admitting that a Digital Euro will be used in a “limited” way to control the payments people can make was taken from the three week old prank video. The video was highlighted by breaking news account Watcher Guru on April 6 and generated

Crypto-friendly Congressman Tom Emmer has slammed U.S. Securities and Exchange Commission (SEC) chair Gary Gensler for his approach to cryptocurrency regulation, labeling him as a “bad faith regulator.” Great interview by @laurashin with @GOPMajorityWhip! Congress is working in their districts this week and next, but expect a VERY busy last 2 weeks of April for

On March 15, the European Parliament voted 418 to 103 (with 24 abstentions) in favor of negotiating a mandate for talks with the European Union member states about revising the new European Digital Identity (eID) framework and creating the “European Digital Identity Wallet,” also known as EUDI Wallet or EU wallet.  Citizen’s IDs, health cards,

The Pheu Thai Party, a political party in opposition to the current Thailand prime minister’s, has reportedly proposed giving nearly every citizen of the country roughly $300 in digital currency should it win the next election. According to an April 7 report from the Bangkok Post, the Pheu Thai Party announced at an April 5

The International Organization of Securities Commissions (IOSCO) will launch a consultation for its regulation report on crypto assets in Q2 2023. The final recommendations from the organization are planned to be published by the end of 2023.  The dates are scheduled in IOSCO’s work program for 2023–24. Two major workflows are dedicated to decentralized assets

Our weekly roundup of news from East Asia curates the industry’s most important developments. Blowing up a Singaporean crypto hedge fund worth an estimated $10 billion at its peak was, by all means, a life-changing event for its co-founders Kyle Davies and Zhu Su. It appears that the trauma from the incident had been so

A new report from the United States Treasury Department analyzing decentralized finance concluded that actors from the Democratic People’s Republic of Korea as well as other scammers are able to exploit vulnerabilities to facilitate money laundering. In its ‘Illicit Finance Risk Assessment of Decentralized Finance’ report released on April 6, the U.S. Treasury said many