According to the bill, the Arkansas Data Centers Act of 2023 intends to regulate the Bitcoin mining industry in the American state, creating guidelines for miners and protecting them from discriminatory regulations and taxes. Continue Reading on Coin Telegraph More
The Australian Securities and Investments Commission has canceled the license of Binance Australia Derivatives after a targeted review of its operations in the country. The company’s clients will not be able to increase derivatives positions or open new positions with the platform from April 14, and existing derivatives positions must be closed before April 21. The Australian securities regulator also revealed that it has been conducting a targeted review of Binances financial services business in Australia, including its classification of retail and wholesale clients. Spot trading on Binance is still available for Australian residents.Continue Reading on Coin Telegraph More
“Today we filed litigation against Gryphon, the custodial management services provider of our blockchain and cryptocurrency-related services, for materially breaching the Master Services Agreement (“MSA”) we entered into with Gryphon,” said Patricia Trompeter, CEO Sphere 3D in a statement for investors, adding that “Gryphon has put the Company’s assets at significant risk and willfully violated their contractual duties.”Continue Reading on Coin Telegraph More
Previously, the deposits were sent to either Signature Bank or Silvergate Capital (NYSE:SI) Corp, both seen as crypto-friendly banks. However, after both failed, the exchange is rushing to find a new banking partner, according to the report. Binance.US is using at least one intermediary to store funds, the report said, adding that since the money is being held by a third party, it can slow down sending and moving funds. The company has unsuccessfully tried to establish relationships with Cross River Bank and Customers Bancorp (NYSE:CUBI) Inc, the report said, adding that banks are reluctant due to concerns over regulatory risk. All three companies did not immediately respond to a Reuters’ request for comment outside normal business hours. “We work with multiple U.S.-based banking and payment providers and continue to onboard new partners while upgrading our internal systems to create a more stable fiat platform and offer additional services,” a spokesperson for Binance.US told the WSJ.Last month, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance along with its CEO and former top compliance executive, alleging that they were operating an “illegal” exchange and a “sham” compliance program. Since the lawsuit, investors withdrew $1.6 billion from Binance. More
KARACHI, Pakistan (Reuters) – Pakistan Finance Minister Ishaq Dar on Saturday said he had canceled his trip to Washington for the spring meetings of the International Monetary Fund and World Bank on the orders of the prime minister due to the political situation in the country.However, Dar said he would attend important bilateral and multilateral meetings virtually and a Pakistani delegation would be present in Washington. Pakistan is in danger of defaulting on its debt, with an International Monetary Fund bailout programme stalled since November, while a bruising political battle is raging between the government and former prime minister Imran Khan.Dar said that the crisis had been compounded by a recent Supreme Court order striking down plans to delay elections to two provincial assemblies scheduled for next month. The order has created a standoff between the government and the court.”We are stuck in a strange mess as a country… so under these circumstances, on the orders of the prime minister, I have dropped plans to be there [in Washington] physically,” Dar said in a televised address.The minister rejected reports of the canceled trip being linked to a holdup in Pakistan’s IMF bailout programme.He added that a “constitutional crisis” was created by the Supreme Court, which has demanded that the government provide 21 billion Pakistani rupees ($74 million) to the election authorities by Monday to conduct the polls.IMF BAILOUTDar said that Pakistan, on its part, had completed all requirements of the IMF’s programme review for the release of over $1.1 billion in critical funding for the cash-strapped country. He said all that remained was a confirmation by one country that it would provide Pakistan $1 billion to shore up its external account requirements. Another country had already confirmed it would provide $2 billion, he added.While Dar did not name the two countries, Pakistan’s junior finance minister on Thursday said Saudi Arabia had conveyed to the IMF its commitment to provide financing to Pakistan.Local media has widely reported that $2 billion have been committed by Saudi Arabia, while a confirmation of $1 billion was awaited by the United Arab Emirates. The minister said once the $1 billion was confirmed, a staff level agreement would be reached. He denied that there were any other pending issues.Pakistan is in dire need of funds with its foreign exchange reserves hovering around $4.2 billion which provides barely one month of import cover.(This story has been refiled to remove the extraneous word in paragraph 2)($1 = 283.5000 Pakistani rupees) More
Forbes recently released a report discussing the utilization of artificial intelligence and natural language processing to scrutinize large quantities of financial information has amplified the urgency of privacy apprehensions.The article mentioned that AI startups like Blocktrace, Arkham, and Nansen are developing blockchain analytics tools, with Blocktrace’s AI chatbot, Robby the Robot, being a noteworthy example. Users can ask questions in natural language and receive responses based on Bitcoin blockchain data.Moreover, startups employ AI chatbots and NLP technology to simplify blockchain transaction tracking and analysis, but the widespread availability of these services increases the risk of exposing user information. To safeguard privacy, shielded transactions should be a priority in this evolving landscape, as demonstrated by the case of Venmo transactions being publicly searchable via AI.Additionally, The popularity of AI-based cryptocurrency projects such as The Graph, Numerai, Fetch.ai, SingularityNet, and Vectorspace AI has surged in 2023, indicating the recognition of potential synergies between AI and blockchain technologies. However, this area of opportunity is also rife with risks, and the crypto community must prioritize best practices to safeguard personal information in an interconnected digital world where generative AI tools like ChatGPT are becoming increasingly common.The document further highlighted that the rise of blockchain analytics startups using AI-driven tools has escalated concerns around personal information privacy in the crypto space. Users should prioritize shielded transactions to protect themselves. Furthermore, individuals must take responsibility for their own digital safety, as AI tools can easily combine public blockchain data with sensitive public data collection sites to expose personal information, potentially leading to dangerous situations. The need for privacy tools is urgent to avoid such consequences.Lastly, the potential for abuse and misuse of personal information in the blockchain and cryptocurrency space is growing as AI-driven analytics tools become more accessible to the public. Shielded transactions, such as those used in Zcash and Monero, provide a solution to privacy concerns surrounding blockchain analytics. Prioritizing privacy and offering shielded transactions as a standard feature can protect users’ personal information while still maintaining transparency and accountability. Developers and policymakers must continue to explore the implications of AI-driven analytics tools on privacy to foster a secure and privacy-centric crypto ecosystem.The post AI Startups in Blockchain Analytics Raise Privacy Concerns: Forbes appeared first on Coin Edition.See original on CoinEdition More
According to the latest filing with the Securities and Exchange Commission (SEC), Private Advisor Group LLC has reduced its holdings in the US-based crypto exchange Coinbase Global by 19.8%. This information was captured in a report by MarketBeat on Saturday, noting the firm now owned 16,730 shares of the crypto exchange’s stock after selling 4,135 shares. Notably, Private Advisor Group LLC’s holdings in Coinbase Global were worth $592,000 at the end of the most recent reporting period. The decrease in the group’s holdings could indicate a lack of faith in the crypto firm, leading to further selling pressure on the stock.However, other institutional investors have been adding to their stakes in Coinbase. First Trust Advisors boosted its holdings in Coinbase Global by 329.7% in the third quarter. Similarly, Northern Trust Corp (NASDAQ:NTRS) boosted its holdings in Coinbase Global shares by 320.1% in Q2. Furthermore, California Public Employees Retirement System acquired a new stake in Coinbase, while Legal & General Group Plc boosted its stake by 211.5% in the second quarter. Hedge funds and other institutional investors own 46.41% of the company’s stock.
Source: MarketBeatAccording to the report, insiders continue to buy and sell Coinbase’s shares despite the selling pressure. It revealed that insiders purchased 34,662 company stock valued at $1,837,055 and sold 304,098 shares valued at $16,537,363. Overall, the news surrounding Coinbase Global is mixed. While some institutional investors have added to their holdings, others have reduced their stakes. Consequently, Coinbase Global stock has received mixed reviews from analysts, and the consensus target price is relatively high.The post Mixed Reviews on Coinbase Stock as Investors Take Differing Positions appeared first on Coin Edition.See original on CoinEdition More
United States Congressman Tom Emmer has taken issue with the conduct of the Securities and Exchange Commission (SEC) and its Chairman Gary Gensler, particularly their approach towards the regulation of the crypto industry. In light of recent events, the lawmaker criticized the treatment of crypto firms at the hands of American regulators.During an episode of Unchained Podcast with Laura Shin, Congressman Emmer described SEC Chair Gary Gensler as a “Warren Disciple”, a subtle hint at his pro-fiat and anti-crypto stance. The lawmaker added that under Gensler’s leadership, the Commission was more focused on enforcing regulation outside their jurisdiction rather than cracking down on bad actors in the industry. “This guy in my mind is a bad faith regulator. He has been blindly spraying the crypto community with enforcement actions while completely missing the truly bad actors,” Emmer stated. The Commission has faced criticism from industry leaders as well as fellow regulators over its recent crackdown on the crypto industry. The Congressman has alleged that the open door policy advertised by the SEC’s Gary Gensler was actually a “enter at your own risk door.” In other words, companies operating in the crypto space are encouraged to register with the SEC on the pretext of regulatory compliance but are provided no guidance or feedback. In some cases, these companies also face enforcement actions from the regulator. Congressman Tom Emmer highlighted the case of American crypto exchange Coinbase (NASDAQ:COIN), which became the subject of the SEC’s regulatory scrutiny last month. After holding several meetings with Coinbase to discuss its Earn product, the regulator refused to provide feedback and instead issued a Wells notice to the exchange, warning of potential enforcement actions. The post U.S. Lawmaker Says SEC Chair Gary Gensler Is A Bad Faith Regulator appeared first on Coin Edition.See original on CoinEdition More
