Circle Backs Binance, Says SEC Can’t Regulate Stablecoins
Circle, the issuer of the USDC stablecoin, has filed an amicus curiae brief in support of Binance, the world’s largest crypto exchange, in its ongoing lawsuit with the SEC. Circle argues that stablecoins are not securities and should not be regulated as such by the SEC. An amicus curiae brief can provide additional information, arguments, […]
China to Tighten Regulations Around Generative AI Development
In China, the government is contemplating new artificial intelligence (AI) development regulations which are being updated to include acquiring a license before releasing generative AI systems. The Cyberspace Administration of China (CAC) wishes to require local companies to obtain a license before releasing generative AI systems, according to a Financial Times report dated 11 July. […]
Circle Eyes Issuing Stablecoin Under New Japanese Law
Circle, the US-based financial services company and issuer of the popular stablecoin USDC, is exploring the possibility of issuing a stablecoin in Japan. In an interview, Jeremy Allaire, co-founder, and CEO of Circle, stated that he thought Japan might become a key market for stablecoins, especially if they become widely accepted in cross-border trading. Following […]
South Korea Launches the Next Stage of Virtual Asset Regulation Research
South Korea is establishing plans to regulate virtual assets with the launch of the second phase of the Legislation Research. South Korean financial officials are allegedly getting ready to launch a research project for the second phase of the nation’s virtual asset legislation in an effort to improve rules further and protect users in the […]
Australian Authorities Investigate Binance Offices Amid Regulatory Probe
The Australian securities regulator searched Binance Australia’s offices on Tuesday as part of a probe into its recently closed derivatives business. According to the article, this action results from a thorough examination into the closure of Binance Australia’s derivatives business by the Australian Securities and Investments Commission (ASIC). The ASIC investigation aims to carefully examine […]