#regulation

#regulation

Senators Richard Durbin, Elizabeth Warren and Tina Smith sent CEO Fidelity Investments to Abigail Johnson, a letter called to revise the Bitcoin option in cumulative pension accounts 401 (K).

The Central Bank of Singapore explained the bias to Binance against the background of FTX crisis

Singapore monetary control explained the differences in relation to Binance Bitcoin-Torges and FTX against the background of the crisis of the last.

In the USA, it will strengthen the role of AI in the accessibility of online video

The American congressmen submitted a bill that updates the requirements for technical availability for streaming and video conferences using AI.

Two bitcoin exchanges received licenses in Uzbekistan

The Uzbekistan regulator issued license to cryptocurrency exchangers Crypto Trade Net and Crypto Market.

Binance confirmed the discussion with regulators of its role in the collapse of FTX

The regulators of many countries have sent Binance requests on its involvement in FTX collapse. This Block was confirmed by a representative of the cryptocurrency exchange. The employee of the company refused to provide details, referring to the confidentiality of dialogue with supervisory authorities. Earlier, the exchange experts responded to the relevant questions of members of the House of Communities of Great Britain. Parliamentarians expressed disappointment with the lack of specifics in the answers received. According to Bloomberg, the Committee of the Treasury […]

Bitstamp has received a license for digital assets provider in Spain

Bitstamp cryptocurrency exchange has been a license for the service provider in the digital asset market in Spain. About this writes The Block.

EU published a new edition of the bill on AI

The European Commission published the final text of the bill aimed at regulating artificial intelligence.

Bitcoin tax development in Ukraine was entrusted to the consultation council at the NKTSBFR

The NCCBFR of Ukraine has created a consulting council for further development of the virtual assets market regulation.

Italy prohibited the use of persons recognition technology

The Agency for Supervision of the Privacy of Data Italy prohibited the use of persons and smart glasses recognition systems. Two municipalities have already received warnings.

Janet Yellen: FTX Krah showed the “weaknesses” of the crypto industry

The FTX incident showed that the cryptocurrency industry needs “very careful regulation”. This opinion was expressed by US Finance Minister Janet Yellen, writes Bloomberg.

US authorities demanded that Paxos freeze assets bred from FTX

PAXOS has received an indication of US federal law enforcement agencies to freeze assets associated with four Ethereum addresses.

The US congressman accused the crypto -milliarders of deterrence of industry regulation

Member of the House of US Representatives Brad Sherman accused cryptocurrency billionaires of lobbying their interests in Washington to contain digital assets regulation of the industry.

Kraken froze the FTX and ALAMEDA accounts

Kraken cryptocurrency exchange at the request of law enforcement agencies blocked accounts belonging to FTX Group, including Alameda Research, as well as their leaders.

India authorities froze $ 2.5 million related to E-Nuggets

The Law Enception Office (ED) of the Ministry of Finance of India directed the Binance request to block the decentralized application of the E-Nuggets 150.22 BTC (~ $ 2.5 million). Developers are BlockFi will lay accused of laundering money.

The Japanese regulator ordered the local FTX branch to suspend operations

The Japanese financial services agency ordered the local FTX exchange unit to suspend operations and go to CLOSE-ALY (users will be able to close their positions, but new ones cannot be opened).

The Bahamas regulator froze FTX assets

The Bahamas Securities Commission blocked the assets of FTX Digital Markets (FDM) and affiliated legal entities, as well as suspended the company’s license in the country.

Gref gave the recommendation of the Central Bank and the government regarding the blockchain

The head of Sberbank German Gref once again mentioned the prospects of blockchain technology and condemned its strict regulation in the Russian Federation.

Opinion: The Mica bill will simplify the work of crypto companies in Europe

The Mica cryptocurrency regulation bill will benefit small companies related to digital assets. This opinion in an interview with Cointelegraph was expressed by the executive vice president of the European Binance division Martin Brunko.

Head of the ECB: CBDC will strengthen the financial sovereignty of Eurozone

Digital euro will eliminate the risks of the loss of financial sovereignty in the eurozone. This was stated by the head of the ECB Christine Lagarda, writes The Block.

The head of the ECB promised a quick introduction of the law on digital euros

The European Commission will soon make a legislative proposal on digital euro. This was stated by the head of the ECB Christine Lagarda, writes The Block.

The British branch of Santander will block transfers to crypto -rhines

In 2023, the British Bank of Santander will block the Bitcoin-Targes transactions in order to protect consumers from fraud, writes Reuters.

The European Parliament postponed the vote under the Mica bill

The European Parliament (EP) postponed the final vote under the bill on the regulation of cryptocurrencies Mica to 2023. About this writes The Block.

Quebec was proposed to limit the supply of blockchain industry energy

Electricity supplier in the province of Quebec (Canada) Hydro-Québec addressed the regional regie de l’Energie regional regulator with a proposal to suspend the supply of blockchain industry electricity.

Switzerland will introduce verification during cryptocurrency operations

Switzerland’s financial market surveillance department (FINMA) revised the rules to combat money laundering and included digital assets in them. This is stated on the regulator website.

Binance registered the seventh company in Ireland

Binance Bitcoin-Birzha opened the seventh unit in Ireland as part of expansion to Europe. This is evidenced by the data of the local bureau of registration of companies.

Hong Kong softened the regulation of the crypto industry and revised the position on bitcoin -etf

The Bureau of Financial Services and the Treasury of Hong Kong published an application for mitigating restrictions on cryptocurrencies and willingness to interact with suppliers of virtual assets services.

Vitalik Buterin criticized the restrictive regulation of crypto industry

Regulatory initiatives that strictly limit the functions of cryptocurrency projects can simplify the latter access to institutional capital, but adversely affect the development of the industry. This was stated by the co -founder of Ethereum Vitalik Buterin.

CFTC commissar compared the risk of “infection” of cryptorrhniks with the 2008 crisis

The vulnerability observed in the cryptocurrency market is similar to those that were characteristic of the global financial crisis, which makes it necessary to expand the powers of CFTC. This was stated by the Commissioner of the Department of Christie Goldsmith Romero.

The European Commissioner called on the crypto industry to help with the regulation of Defi

Participants in the cryptocurrency industry should help the European authorities in creating a regulatory environment for the Defi sector in order to get “excellent solutions” in the end. This was stated by the adviser for technological innovation and cybersecurity of the European Commission (EC) Peter Kerest, writes The Block.

In the UK, they equate cryptocurrencies with financial instruments

On October 25, the House of Commons (Lower House of UK parliament) supported amendments to the bill on financial services and markets. In particular, the proposed changes include digital assets in the sphere of regulated financial services.

The head of CFTC called the cynical rumors about the fight against the SEC for crypto regulation

Rostin Benam, the head of the URD Exchange Trade Commission (CFTC), denied the confrontation with the SEC on the regulation of cryptocurrencies, despite various views on their classification. Fortune writes about this.

The Central Bank of Singapore suggested tightening the supervision of crypto industry

Singapore monetary control (MAS) submitted two advisory documents to reduce the potential damage of consumers from the volatility of the cryptocurrency market.

The head of the SEC called the cryptocurrency market centralized

Contrary to widespread opinion, decentralization is not characteristic of the cryptocurrency market. This follows from the comments of the SEC head Gary Gensler, writes The Block.

The African Bitcoin-Birzha Yellow Card received a license in Botswana

Yellow Card African cryptocurrency exchange has received a license for a virtual asset service provider (VASP) from NBFIRA. This is stated in the press release.

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Jack Dorsie’s company introduced the WEB5 web platform concept

Jack Dorsie’s company introduced the WEB5 web platform concept

The structural division of Block Dorsie – TBD – introduced the concept of a decentralized platform with open source code Web5. According to developers, the project will provide users with full control over their personal data and digital identities.

This Will Likely Be Oour Most Important Contribution to the Internet. Proud of the Team. #Web5

“This will probably be our most important contribution to the Internet. I am proud of the team, ”commented on the announcement of Dorsi.

According to TBD, at the moment, the identification and personal data of users do not belong to them, since they "have become the property of third parties". By the latter, developers mean corporations and centralized platforms.

The WEB5 concept presented by the team is designed to change the situation.

“Web5 brings decentralized identification and data to your applications. This allows the developers will focus on creating a delightful user experience, while returning the ownership of data and identity to private individuals, ”the project website said.

According to the published TBD presentation, the Web5 concept is based on three pillars:

  • Decentralized identifiers (Decentralized Identifiers, DID) – provide authentication and routing of data;
  • Verified powers (Verifiable Credentials, VC) – special formats and data models for a cryptographic presentation and verification of allegations;
  • Decentralized web nodes (decentralized web nodes, dwn)-store data and retrane messages with which applications and protocols https://newsportal.com.ua/2022/07/04/reuters-learned-about-preliminary-work-permit/ exchange.

The developers explained that DID is generated by users Gagarin News and are not stored by centralized providers or other third parties. A second -level Ion network can be used as a protocol for VC.

DWN nodes will allow the ecosystem participants to store and transmit encrypted or open messages and data. TBD believes that this will provide an opportunity to create many decentralized applications and protocols on their basis.

“The combination of DID and DWN creates a security network that can replace one -target protocols (encrypted messages, photo exchange, and so on) with universal standards for all the type of semantic data exchange,” the developers emphasized.

It is assumed that the financial level of Web5 will provide a bitcoin network.

Previously, Jack Dorsie has criticized the Internet of WEB 3 Concept.0. According to him, the decentralization of the network is hindered by the strong influence of venture investors who are not interested in distributed management and storage of data.

After the announcement of the WEB5 concept, the head of Block repeated his thesis. He noted that modern decentralized Internet is based on “systems with a single refusal point” like Ethereum and Solana, and also does not provide users with control over their data.

it’s Basis on Single Point of Failure Systems (ETH, SOLANO, *) and Lies Being Told to PEOPLE ABOUT WHO OWNS and CONTROLS IT

– Jack (@jack) June 10, 2022

Recall, Dorsie presented TBD in August 2021. Initially, the unit planned to create a decentralized bitcoin-tour on the basis of the Block payment company (previously Square).

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