US House to Vote on FIT21 Act to Clarify US Crypto Regulations
The Financial Innovation and Technology for the 21st Century Act (HR 4763), or FIT21, is scheduled for a vote in the U.S. In order to establish a clear regulatory framework for digital assets, this measure aims to define the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), thereby […]
Crypto.com’s Launch in South Korea Faces Regulatory Delay
Crypto.com’s South Korean launch will be delayed due to anomalies in the platform’s money laundering data, as regulators have identified. Crypto.com’s data contained Anti-Money Laundering (AML) vulnerabilities, prompting South Korean authorities to conduct an “emergency on-site inspection” to oversee the cryptocurrency exchange’s activities. A Financial Services Commission (FSC) representative informed the local publication Segye Ilbo: […]
Worldcoin Introduces New Privacy Measures, User Control Options
Worldcoin introduced the option to permanently delete iris codes to authenticate World IDs in response to mounting criticism. Nearly five million people have registered for the program, which issues digital World IDs to participants after verifying their personhood through iris scanning. Worldcoin (WLD) now offers users the option to permanently erase their “iris code,” a […]
Lithuania to Tighten Regulations on Crypto Companies
The European Union’s first unified crypto legislation, Markets in Cryptoassets (MiCA), is due to take effect starting in January 2025. A Bank of Lithuania board member, Simonas Krėpšta, disclosed plans for a regulatory change that will significantly reduce the number of cryptocurrency companies operating in the nation, which has made a name for itself as […]
India Urges Tech Firms to Get Approval Before Developing AI Tools
Tech companies developing new artificial intelligence (AI) tools were advised by the Indian government that such tools require government approval before being released to the public. As per the advisory issued by the IT Ministry of India on March 1, this sanction must be obtained before the public debut of AI tools deemed “unreliable” or […]