Venezuela is set to discontinue its petro cryptocurrency, a digital asset once heralded as a workaround to U.S. sanctions. The petro will officially cease operations on January 15, six years after its inception, as confirmed by recent reports. Launched in 2018 by President Nicolas Maduro, the petro aimed to bolster Venezuela’s economy, reeling from sanctions […]

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Apple’s App Store in India has delisted several major cryptocurrency exchange applications, including Binance and KuCoin, following directives from the country’s finance authority. This step comes on the heels of the Financial Intelligence Unit’s (FIU) December directive, which flagged these platforms for non-compliance with local regulations. The FIU’s notice, issued on December 28, mandated that crypto exchanges serving Indian […]

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Nebraska has put forward a pioneering piece of legislation aimed at fostering a supportive environment for cryptocurrency activities. State Senator Eliot Bostar introduced the Blockchain Basics Act on January 5, which, if enacted, will bolster the rights of individuals to mine and trade cryptocurrencies within the state. The proposed act is designed to simplify the crypto landscape for residents, […]

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In a groundbreaking move, California has positioned itself at the forefront of Artificial Intelligence (AI) regulation. State Senator Steve Padilla has unveiled two pivotal bills aiming to craft a comprehensive and ethical AI governance framework for the state. Senate Bill 892 marks a significant stride towards accountability, mandating the creation of robust standards in safety, privacy, and equality […]

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In a decisive crackdown on illicit cryptocurrency operations, North Sumatra Police have dismantled an extensive Bitcoin mining network, seizing over a thousand machines in a sting operation. The sophisticated syndicate, which had set up shop across ten separate locations, is accused of siphoning off electricity on a grand scale, with losses to the state-owned power company PLN […]

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Chinese authorities have unearthed a colossal $2.2 billion underground forex operation, intricately linked to virtual currency trading platforms. This action highlights China’s stringent approach to controlling financial transactions across its borders. The Qingdao Branch of the State Administration of Foreign Exchange’s Inspector, Xu Xiao, shed light on the mechanism of the scheme. Underground banks were buying […]

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In a recent development, Coinbase, a leading name in the cryptocurrency exchange market, has come forward to clarify its stance amid allegations of regulatory interference. The company’s top policy executive, Faryar Shirzad, addressed concerns raised by Senator Elizabeth Warren, emphasizing the company’s commitment to constructive engagement in the formulation of digital asset regulations. Shirzad firmly denied […]

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A coalition of leading Nigerian banks has announced the launch of the cNGN stablecoin, a digital currency pegged to the Nigerian naira. This strategic initiative aims to enhance the country’s financial system by integrating the benefits of blockchain technology. The cNGN is not just a digital currency but a bridge to the future of finance […]

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The Biden administration has initiated the development of crucial standards for AI technology. This step follows President Biden’s executive order from October, which seeks to solidify America’s stance as a pioneer in ethical AI use. The Department of Commerce’s National Institute of Standards and Technology (NIST) is spearheading this initiative. NIST has opened its doors for […]

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The U.S. court has validated a settlement requiring the cryptocurrency exchange Binance and its previous CEO, Changpeng Zhao, to pay significant fines. The ruling, which concludes a lengthy investigation by the U.S. Commodity Futures Trading Commission (CFTC), imposes a $2.7 billion payment by Binance and a $150 million payment by Zhao. The court’s approval finalizes […]

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