Bill targeting illicit use of crypto passes US House: Law Decoded
Legislation focuses on preventing illicit cryptocurrency activities while safeguarding consumer choice.
Legislation focuses on preventing illicit cryptocurrency activities while safeguarding consumer choice.
The Coinbase-led advocacy group has raised upward of $202 million so far, according to the political donations researcher.
Presidential candidate Robert F. Kennedy Jr. heard about Bitcoin from his kids. Now, he believes it should be part of the bedrock of America’s monetary system.
A UK hacker faces prison for his Coinbase dummy website scam, an El Paso man’s alleged crypto “Ponzi” funded his lavish lifestyle, and Washington DFI flags the latest potential crypto fraud.
According to Odaily, institutional economists suggest that during next week's meeting, most Federal Reserve officials are likely to reach a consensus on one key issue: the downside risks to the Fed's full employment mandate are roughly balanced with the upside risks to inflation. It is anticipated that officials will generally agree that a rate cut will be appropriate at some point in the near future, although there may be slight differences in opinion regarding the exact timing of such a move.
Donald Trump has promised to fire SEC Chair Gary Gensler, whose work at the agency was defined by his animosity toward crypto.
Questions abound concerning the Bitfinex and Silk Road funds if Trump is reelected.
As stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence policies in other jurisdictions.
According to Cointelegraph: Elon Musk's social media platform X is under scrutiny by the Irish Data Protection Commission (DPC) following reports that a change in default settings allows user data to be fed into the training of Musk’s artificial intelligence chatbot, Grok.“The DPC has been engaging with X on this matter for several months, with our latest interaction occurring as recently as yesterday,” the DPC told TechCrunch on July 25. The Commission expressed surprise at the recent developments and is awaiting a response from X, with further engagement expected early next week.Grok and User Data ControversyGrok is an AI chatbot designed to be witty, informative, and engaging, developed by xAI, a research and development company founded by Musk. Several posts on X have warned users about the controversial setting change, which allows the platform to use posts, interactions, inputs, and results with Grok for training and fine-tuning purposes.Encrypted email service ProtonMail advised its 304,500 X followers on how to turn off the default setting: “Your data on X is used by default to train Grok. Turn it off in Settings > Privacy and safety > Data sharing and personalization > Grok,” Proton explained in a July 26 X post.Open Source Move and Legal BattlesThis controversy comes months after Musk announced that xAI would make Grok open source, amid a lawsuit against rival AI chatbot developer OpenAI. Musk's announcement received positive responses from users, with many praising the decision and calling for OpenAI to do the same.On February 29, Cointelegraph reported that Musk filed a lawsuit against OpenAI, claiming a breach of the agreement made when OpenAI was founded as a nonprofit organization. Musk argued that OpenAI’s partnership with Microsoft contradicts the founding principles of the nonprofit agreement to advance open-source artificial general intelligence (AGI) for the benefit of humanity.
According to Bloomberg, Silvergate has agreed to pay $43 million to the Federal Reserve for allegedly failing to comply with anti-money laundering (AML) regulations. The settlement was announced by the Fed on Friday. This agreement comes as part of ongoing efforts to enforce compliance with financial regulations and ensure the integrity of the financial system.