Industry
AI automation could take over 50% of today's work activities by 2045
In just 22 years, generative AI may be able to fully automate half of all work activities performed today, including tasks related to decision-making, management, and interaction with stakeholders, according to a new report from McKinsey & Company.Seth RowdenVoyager app will reopen for customer withdrawals as soon as June 20
Cryptocurrency brokerage Voyager Digital is preparing to reopen its app and allow customers to finally withdraw funds nearly a year after filing for Chapter 11 bankruptcy protection.Herman HayesHong Kong Government Pressures Banking Giants to Accept Crypto Clients
The Hong Kong Monetary Authority (HKMA), the region's central bank and regulator, has reportedly put pressure on major banks, including HSBC and Standard Chartered, to accept cryptocurrency exchanges as clients.Seth RowdenWhat Nigeria's Naira Float Means for Its Cryptocurrency Market
Nigeria, known for its growing adoption of cryptocurrencies such as bitcoin, said on June 14 thatHerman HayesCelsius seeks to convert alts to bitcoin and ether under restructuring plan
Defunct cryptocurrency lender Celsius has amended its bankruptcy filing pending approval from the New York Bankruptcy Court following a successful takeover deal with the Fahrenheit cryptocurrency consortium. The cryptocurrency lender filed its restructuring plan on June 15.Seth RowdenHow Hackers Are Using Mining Pools as Mixers: Chainalysis
While good actors in the crypto space use their creativity to build new things, bad actors use that same energy to devise more ingenious ways to hide their ill-gotten gains.Seth RowdenNew York Bans CoinEx Exchange, Seizes $1.7 Million in Crypto Assets
Hong Kong-based cryptocurrency exchange CoinEx has been banned from operating in New York by Attorney General Letitia James.Seth RowdenEU regulators to launch MiCA consultations from July
EU financial regulators are to launch a three-part consultation process on the recently adopted Framework for Markets in Cryptoassets, or MiCA.Seth RowdenJudge to consider whether to try Sam Bankman-Fried alone in lieu of charges
A US federal judge is reportedly weighing a proposal to split the criminal charges against former FTX CEO Sam Bankman-Fried (SBF) into two trials after prosecutors filed documents.Seth RowdenCryptocurrency lender Abra has been insolvent since March, Texas regulator says
Crypto lending firm Abra, which handled more than $116 million in assets for alleged securities fraud, has been insolvent since March 31, according to Texas regulators.Seth RowdenBlackRock's Bitcoin ETF Is The 'Best Thing' For BTC, Is It?
Some crypto industry watchers say BlackRock's latest spot bitcoin (BTC) trust filing will boost investor confidence in bitcoin and could even be the “best thing that can happen” to BTC but others warn There are hidden costs.Seth RowdenMark Cuban Challenges the SEC, John Reed Stark, and 'Crypto Disorder Syndrome'
Crypto Twitter has seen a heated debate this week, with billionaire investor Mark Cuban accusing the SEC's Gary Gensler of throwing cryptocurrencies under the bus, while former SEC officials were quick to defend Regulators defended.Seth RowdenBrazil's President Signs Law Aiming for Central Bank to Regulate Crypto Firms
Brazilian President Luiz Inácio Lula da Silva, known to many simply as Lula, has signed legislation clarifying the role of the country's central bank and securities regulator with regard to cryptocurrencies.Herman HayesUS Senators Propose Removing Section 230 Protections for AI Companies
Senators Josh Hawley, Republican of Missouri, and Richard Blumenthal, Democrat of Connecticut, introduced a Senate bill on June 14 that would remove current restrictions on artificial intelligence provided to online computer service providers under US federal law. (AI) Special pro protection for companies.Herman HayesCoinbase CLO Says Requiring DEXs to Register with SEC Like Other Exchanges Is 'Impossible'
The chief legal officer of US cryptocurrency firm Coinbase, Paul Grewal, has opposed the SEC's proposed rule changes that could change what an exchange is and how digital assets are regulated.Seth RowdenFrench Financial Markets Ombudsman Reports Surge in Crypto-Related Mediations
Progress has its downsides, as the Autorité des marchés financiers (AMF), the non-governmental body that regulates the French stock market, has noticed. According to the AMF Ombudsman, digital asset-related mediations will increase dramatically in 2022, as will the number of registered digital asset service providers (DASPs).Herman HayesBakkt Follows Robinhood, eToro in Delisting Major Altcoins
New York-based derivatives exchange Bakkt is delisting three popular altcoins due to recent regulatory developments in the United States. According to The Wealth Report, Solana's deal, Polygon and Cardano have been suspended.Seth RowdenBinance under investigation in France from February 2022
The legal troubles at Binance, the world's leading cryptocurrency exchange, continue to mount, a new report suggests that the exchange has been under investigation in France since early 2022.Seth RowdenSEC Opposes Dentons Motion to Dismiss Terraform and Do Kwon Lawsuits
Attorneys representing the US Securities and Exchange Commission (SEC) have argued that supplemental documents filed by Dentons, the law firm representing Terraform Labs and Do Kwon, in support of its motion to dismiss lack sufficient support to dismiss the case.Seth RowdenHong Kong and US aim for stablecoin regulations by 2024
The Hong Kong Monetary Authority (HKMA) has completed a public consultation on stablecoin regulation, with the goal of introducing clear regulatory guidelines for the stablecoin market by the end of 2024.Herman Hayes
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