The regulator is cracking down on high-yield investment products saying the programs raise hype with the promise of high returns before going dark. Source: https://cointelegraph.com/public/index.php/news/crypto-firms-alleged-to-have-faked-execs-using-ai-and-actors-cali-regulator
A bill signed into law on April 11 has made gold and silver legal tender in the U.S. state of Arkansas, allowing citizens to use gold and silver coins to pay debts. The bill also clarifies that gold and silver “specie” (coins) will not be considered property for tax purposes, and transactions made with these precious metals will not result…
Criticisms of the United States Securities and Exchange Commission (SEC) are mounting as the agency remains unrelenting in its war on crypto. On April 21, Web3 venture capital firm Paradigm published a policy piece on the problems with SEC registration. It claimed that SEC chair Gary Gensler’s “attempt to brute force crypto assets that may not even constitute ‘securities’ into…
The venture capital firm pointed out the fundamental differences between crypto assets and securities. Source: https://cointelegraph.com/public/index.php/news/sec-s-brute-force-crypto-regulation-attempt-is-bad-policy-paradigm
A number of firms claiming to offer artificial intelligence (AI) assisted crypto trading services have been hit with allegations of being “fraudulent investment schemes” by a California financial regulator, with two accused of using actors and AI to impersonate CEOs. On April 19 the California Department of Financial Protection and Innovation (DFPI) issued desist and refrain orders against five entities…
A University of Tehran professor and member of Iran’s Presidential Delegation to China has stressed the importance of de-dollarization for the international community. “The dollar has been used as a weapon by the U.S. against different countries. It is unreliable and it is dangerous,” the professor warned. Iranian Professor Stresses the Importance of De-Dollarization Professor Mohammad Marandi discussed de-dollarization and…
Criticism has been leveled at a new euro-pegged stablecoin released in France due to a decision to restrict peer-to-peer transactions. French bank Societe Generale-Forge (SGF) released the Ethereum-based stablecoin called EUR CoinVertible (EURCV) on April 20 which is available to only qualified institutional clients. According to observers who reviewed its smart contract code, ERC-20 transfers need to first be approved…
Americans feel apprehensive about the growing use of artificial intelligence (AI) in hiring and evaluating workers, according to a new study released by the Pew Research Center. Pew Research surveyed 11,004 U.S. adults in mid-December of 2022, asking participants for their views on AI’s impact on the workforce. While some respondents acknowledged the efficiency of AI-driven recruitment, many expressed fears…
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, the Fed has already been easing, and they’re still vigilant against that,” he cautioned. Strategist Says We’re ‘Heading Towards a…
Our weekly roundup of news from East Asia curates the industry’s most important developments. Three Arrows Capital (3AC), a once bourgeoning Singaporean hedge fund worth an estimated $10 billion at is peak, was utterly obliterated by the bear market last year. However, the carnival it has created since the initial blowup still lives on, and its main characters appear to…
