Canada Unveils New Bank Capital Rules for Crypto Holdings
Canada’s financial watchdog recommends adjusting its capital and liquidity approach to crypto assets. The Office of the Superintendent of Financial Institutions (OSFI) claims that the proposed guidelines, which define four kinds of cryptocurrency assets and their capital classification, will simplify institutions’ approaches to perceived crypto risks. Up to September 20, OSFI allows public comment on […]
Australian Court Orders Meta to Pay $14M for Privacy Breach
A court in Australia fined Meta Platforms 20 million Australian dollars ($14 million) for gathering user data through the smartphone app Onavo. According to a report from Reuters, the Australian Federal Court has ordered Meta, through its subsidiaries Facebook Israel and the abandoned app Onavo, to pay the Australian Competition and Consumer Commission (ACCC) AU$400,000 […]
Binance Withdraws German Crypto License Application
Binance has chosen to withdraw its cryptocurrency license from BaFin’s application in Germany because of the rising regulatory friction in Europe. Binance, the most active cryptocurrency exchange, has withdrawn its application for a license from the BaFin, a German financial authority. This comes after German authorities told it they would not issue it a license […]
US House Panel Approves First Crypto Regulatory Framework Bill
On Wednesday, July 26, the US House panel approved the legislation by crypto advocates to set up clear regulatory rules in the country. The House Financial Services Committee approved the Republican-led bill by a vote of 35 to 15, with some Democrats also voting in favor. North Carolina’s chairman, Patrick McHenry, praised both the legislation […]
Sam Altman Speaks on Worldcoin Success, Jack Dorsey Reacts
On Day 3, Sam Altman expressed joy regarding the strong enthusiasm for Worldcoin. Industry players caution users about IRIS scanning. It has been three days since OpenAI director Sam Altman announced the WLD project. Worldcoin is a one-of-a-kind cryptocurrency initiative that uses an “orb” device to detect people’s eyes to generate their digital identities. This […]