California Revokes BlockFi’s Lending License Two Years Post-Bankruptcy
Bankrupt and now defunct BlockFi has entered into a settlement in which it has consented to the revocation of its license and to cease unsafe practices. The California Department of Financial Protection and Innovation (DFPI) has permanently revoked the license of BlockFi, a bankrupt cryptocurrency lender, two years after the company declared bankruptcy. On November 7, […]
US, EU, UK Sign First International AI Treaty
The US, EU, and UK sign the world’s first legally binding international AI treaty, prioritizing human rights and accountability in AI regulation. The global community has advanced towards aligning its goals and values concerning artificial intelligence (AI) with the signing of the Council of Europe’s AI convention. The United States, European Union, and the United Kingdom are […]
US Policymakers Criticize California AI Bill
In response to criticism from Speaker Emerita Nancy Pelosi, California State Senator Scott Wiener defended an AI bill, urging that safety should not be utterly dependent on technology companies and VCs. The Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, also known as Senate Bill 1047, in California mandates that AI developers establish […]
California Weakens AI Law Without Resolving Tech Industry Concerns
California amended its AI accountability bill, SB-1074, in response to tech industry criticism, aiming to protect whistleblowers and allow state intervention in potential AI-related crises. California lawmakers have modified a contentious law that would require AI companies to be responsible for the harm their products cause in response to industry criticism. Nevertheless, it is uncertain […]
Santa Monica Opens Bitcoin Office, Plans October Festival
The municipal council of Santa Monica unanimously approved the office on July 11, and its webpage went live on August 8. The City of Santa Monica, California, established a Bitcoin Office to educate residents, identify potential economic opportunities, and consolidate the city’s position as a center for Bitcoin innovation. Proof of Workforce is a nonprofit […]