FTC Approves Procedures to Investigate AI-related Lawbreaking
In light of potential legal infringements associated with AI applications, the United States Federal Trade Commission (FTC) has authorized a novel, streamlined procedure for investigating cases involving the illicit utilization of artificial intelligence (AI). Unanimously, the FTC endorsed a measure to expedite the ability of its staff to issue civil investigative demands (CIDs), a type […]
CZ to Plead Guilty to Violating Anti-Money Laundering Requirements – WSJ
According to a Wall Street Journal (WSJ) report, Changpeng Zhao, CZ, plans to plead guilty to violating U.S. Anti-Money Laundering requirements and step down as the CEO of the Binance exchange. As the United States Department of Justice (DOJ) awaits the announcement of a $4.3 billion settlement with the company, Binance founder Changpeng “CZ” Zhao […]
Aragon DAO Members Fund Legal Action Against Founders
Aragon DAO members have expressed dissatisfaction with the founding team’s recent move to dissolve its governing body and shut down its token, so they have voted to fund legal action against the founders. Due to their decision to dissolve the governing body and distribute the majority of the organization’s assets to tokenholders, the founding team […]
Britannia Financial Reportedly Faces Lawsuit Over $1B Deposit
Britannia Financial, Tether’s Bank Partner, is being sued on suspicion that it neglected to remit the complete value of revenue-generating assets purportedly associated with a $1 billion deposit from Tether. Arbitral International, a British Virgin Islands-based company, has filed suit against Britannia regarding a $1 billion deposit from Tether, according to court documents filed with […]
$3.9B USDT Transfer on Binance Draws Community Attention
Social media users within the cryptocurrency community have shifted their attention to a $3.9 billion Tether transaction between Binance wallets after reports indicating that the US Department of Justice (DOJ) is negotiating a $4 billion settlement with the company. The Justice Department is reportedly negotiating with cryptocurrency exchange Binance over a $4 billion sanction agreement, […]