Law Firm Leverages Technology for Efficiency and Security
Whitley Law Firm is embracing innovation to enhance its legal services in an era of rapid technological advancement. With a focus on automation, enhanced research capabilities, and robust cybersecurity measures, the firm is leveraging technology to streamline workflows and deliver superior client outcomes. At Whitley Law Firm, technology drives efficiency by automating routine tasks, allowing […]
Local Councillors Unaware as AI-Crafted Law Sneaks Through Unanimously
In a recent twist to legislative processes, a city in Brazil unwittingly became the stage for what could be the nation’s first AI-crafted law, entirely generated by artificial intelligence. Councillor Ramiro Rosario, without the knowledge of his peers, employed OpenAI’s chatbot, ChatGPT, to draft a proposal addressing the replacement of stolen water consumption meters. The […]
Bloomberg Law 2024 Unveils Legal Trends and AI’s Impact on Legal Landscapes
In a pivotal moment for the legal industry, Bloomberg Law unveils key trends and insights set to shape the legal landscape in 2024. Legal analysts gear up to navigate the intricacies of Artificial Intelligence, ESG, DEI, Supply Chain, and Labor Unions against the backdrop of a post-pandemic, economically uncertain climate. As the legal community stands […]
Can AI Regulation Bridge the Gap Between Innovation and Accountability?
In the rapidly evolving world of artificial intelligence (AI), the need for regulation is undeniable. But, as the AI landscape continues to expand, the real challenge lies in deciphering where to begin. The scope of AI operations is so vast that it leaves policymakers, high-level politicians, and technology corporations grappling with where to draw the […]
Leaked FTC Civil Investigative Sheds Light on AI Enforcement Priorities, Targeting OpenAI’s Practices
On July 13, 2023, The Washington Post revealed a groundbreaking development in the world of artificial intelligence with the leak of a Federal Trade Commission (FTC) Civil Investigative Demand (CID) directed at OpenAI, LLC. The CID seeks to determine whether OpenAI is complying with FTC standards for privacy, data security, and advertising in relation to […]
Coinbase to work with former google senior lawyer
Coinbase reveals that Googles past dominant lawyer has left the tech giant to lock in a deal. Milana McCullagh is now the online association’s deputy general counsel where she is concerned with the law of all their products. Miss McCullagh, initially, partnered with Google for over a decade but is now assisting Coinbase to coordinate […]
Blockchain fraudsters are on the loose
Blockchain fraudsters are on the loose, claiming to be from the crypto company. The UK’s Financial Conduct Authority (FCA) has told people to be cautious around the scammers today. The pretend workers are going around the internet pretending to be working with Blockchain.com. Blockchain fraudsters are on the loose Blockchain fraudsters are on the loose, […]
Mexican billionaire reveals 10% of his wealth is Bitcoin
Mexican billionaire reveals that 10% of his assets are Bitcoin. Salinas Pliego is the chairman and the creator of a plethora of firms that offer communication, financial, and retail services. Mr. Salinas, who founded Group Salinas, announced how much he believed in the cryptocurrency in a tweet today. Mexican billionaire reveals 10% of his wealth […]
Binance takes crypto journalists to court
Binance takes crypto journalists to court for defamation. The crypto exchange company believes that they have lost millions because of what they deem a defamatory and deceitful article. The organization has put in a lawsuit against two crypto journalists and Forbes today. Binance takes crypto journalists to court Binance takes crypto journalists to court for […]
US SEC charges Wells Fargo CEO
US SEC charges Wells Fargo CEO for misdirecting its customers. The CEO of Fargo, an American banking giant, John Stumpf, was criminalized by the US Securities and Exchange Commission. Mr. Stumpf had to cough up almost three million dollars to appease the regulator while a former lead exec, Carrie Tolstedt, will be involved in a […]
Russia proposes amendments to crypto law
Russia proposes amendments to its crypto law due to potential blind spots. Earlier today, Russia’s ministry of finance suggested changes be made to the crypto laws. The changes should cover what is expected to happen around tax evasion. Russia proposes amendments to crypto law Russia proposes amendments to its crypto law due to potential blind […]
EU regulators target encryption on privacy coins and apps
EU regulators are tightening down on encryption on privacy coins and apps such as WhatsApp and Signal. A draft proposal was published on November the 6th and was reported by Austrian Radio FM4. The EU Council of Ministers suggests end-to-end encryption removal on apps. EU regulators target encryption on privacy coins and apps EU regulators […]
OKEx hires legal counsel to resume withdrawals
OKEx hires an external legal counsel to continue with withdrawals that were once put to a stop. The withdrawals were prohibited on the 16th of October 2020. The update was announced today. OKEx hires legal counsel to resume withdrawals OKEx hires an external legal counsel to continue with withdrawals that were once put to a […]
Inside US regulators ongoing war with financial crime
A proposed amendment will require businesses to divulge foreign transactions valued over $250 Part of a broader push by the government to combat crypto’s use in money laundering US regulators have created an amendment to existing legislation in the ongoing war with financial fraud. The proposed amendment will force businesses to gather and share data […]
RG Coin exchange founder convicted for money laundering
RG Coin founder convicted of money laundering Iossofov operated as part of an international autioneering fraud network Iossofov to be sentenced January 2021 The owner of RG Coin crypto exchange platform, Rossen Iossifov, a 53-year-old Bulgarian international, has been accused of running a money laundering scheme, as a component of a multinational auctioneering conspiracy project. […]
Bitfinex, Tether files motion to end crypto market manipulation suit
For months now, the Hong Kong-operated digital currency exchange, Bitfinex, and USDT’s Tether has been involved in a crypto market manipulation lawsuit. The Plaintiffs alleged that the exchange undertook a manipulative act that inflated the price of cryptocurrencies some years ago, which led them to losses. However, the defendants have since denied the allegation, moving […]
FIU identifies G7 banks as the biggest sources of illicit money, not crypto companies in Mexico
The Financial Intelligence Unit (FIU) has reported that commercial banks around the country are more prone to money laundering than crypto companies in mexico. According to the FIU, the report was cited based on the activities of the G7 banking group, which includes Inbursa, BBVA, Citibanamex and some others. The Financial Intelligence Unit of Mexico […]
The US government to seize crypto accounts linked to North Korean crypto hackers
The US government is presently making moves to seize about 280 fraudulent digital assets accounts belonging to North Korean crypto hackers. In a report that has been circulated by news outlet, Reuters, it says that the United States government is seriously making moves to clampdown on the accounts belonging to the North Korean crypto hackers. […]
Ripple dragged to court in Australia over the PayID trademark
Ripple is set to spend the next few months arguing a court case after it was slammed with a PayID trademark infringement lawsuit. The National Payments Platform Australia (NPPA) has decided to sue Ripple following the use of the PayID trademark by the digital assets outfit. According to the NPPA, Ripple’s infringement on their brand […]
Thailand’s Office of the Court of Justice to implement blockchain by 2021
Thailand’s Office of the Court of Justice has announced that it will begin to use blockchain technology to store judicial data as from next year. The usefulness of blockchain technology has not gone unnoticed to governments around the world as they have been striving hard to implement it in core sectors of their economy. According […]
Swiss crypto ecosystem takes the lead in 1st regulated crypto trade
The Swiss crypto ecosystem has scored a big one after 21 Analytics, firm based in Switzerland successfully carried out its first regulated crypto trade. The firm is renowned in Switzerland for its focus and operations in fighting financial related crimes in the Swiss crypto ecosystem. In the report that was obtained from a local news […]
EU to unveil draft crypto law before the end of 2020
The European Union has announced that it is making moves to compile and pass a new draft crypto law before the year ends. The ruling to release the draft crypto law was made after the EU said it was making massive plans to reduce its crypto regulatory framework. The Union says even though the ravaging […]
Japanese court orders seizure of stolen NEM from Coincheck
In a new development, Japanese court has ordered its first digital asset seizure as it has ordered the seizure of stolen NEM from Coincheck. Making the report, the Japanese times said that the Tokyo district court told regulators to seize all the stolen NEM from Coincheck. It should be noted that about two years ago, […]
Interactive Brokers to pay $38M penalty for violating federal laws
United States’ largest brokerage firm, Interactive Brokers, has been charged by the US SEC for failing to detect and report suspicious transactions. The United States Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Financial Industry Regulatory Authority (FINRA) Commission have settled charges against the broker-dealer. In the settlement, the brokerage […]
Kenya digital tax: users of crypto platforms to bear the brunt
The Kenyan Revenue Authority (KRA) has said that it has worked out new guidelines that will be used to check the activities of crypto traders across the country. With that view, the country has said that it would henceforth start charging a 1.5% gross transaction as the new Kenya digital tax fee. Users of digital […]
Indian crypto ban unlikely as OKEx launches new platform in India
One of the leading crypto exchanges, OKEx, has recently announced that it has set up shop in India despite the country facing a tough future for digital assets. With rumors of another Indian crypto ban looming on the horizon, CEO of OKEx, Jay Hao, has said he thinks the conclusion might be otherwise. Talking about […]
Anonymous wallet deposits ban: a foretaste of December?
In what can be said to be a kick against money laundering and financial fraud, the Russian government championed by the legislature has placed a ban on anonymous wallet deposits in the country. The passage of the ban is separate from the actual regulatory framework for the crypto industry set out in the bill “On […]
Gemini welcomes latest New York BitLicense alterations
The newly updated New York BitLicense regulations have garnered a mixed response from the crypto community. But Gemini isn’t the one to shy away from crypto regulations. With its headquarters in New York, Gemini has chosen to fully comply with the new guidelines and looks set to increase its credentials as a law-abiding crypto exchange. […]
Facebook suffers another blow as Brazil bans WhatsApp Pay
Facebook’s recently launched WhatsApp payments services called WhatsApp Pay has suffered a significant setback as the central bank of Brazil announces its suspension over regulatory and security concerns. For this social media giant, it is crisis after crisis with no dearth of regulatory hurdles. After frantically updating the whitepaper of its ambitious digital currency project […]
Iran currency smuggling law restricting crypto exchanges
The Iran currency smuggling law is being used to restrict crypto exchanges in the country. This portrays investing in digital assets as risky which has confused the local users. This follows a proposal in parliament that seeks crypto to be classified under the “currency smuggling” legislation. ArzDigital, a local news outfit has reported that the […]
Nvidia lawsuit: Investors file for $1B misrepresented sales damages
Latest Nvidia lawsuit now seeks that the company should cover for the damages it caused to their shareholders, by allegedly misrepresenting its source of income to be from gaming hardware sales. The fund involved in the case amounts to a billion US dollars, according to the report. The lawsuit reads: Defendants refused to publicly acknowledge […]
Now is a good time to be a crypto lawyer, renowned trial attorney
According to notable crypto lawyer Brian Klein, the pandemic is a great time to become a lawyer as it is necessarily causing business models to disrupt and companies to mull over new strategies and legal disputes. For outsiders like us, it may seem like the pandemic is the worst time to be a crypto lawyer, […]
New class-action lawsuits hits Ripple
Another class-action lawsuit has been filed against major digital currency firm Ripple together with its CEO, Brad Garlinghouse contending the violation of securities laws in the sale and marketing of XRP. According to the legal action, Ripple created its native token, XRP, in order to create wealth for the founders and a few other individuals. […]
Crypto laws will be created by courts, not lawmakers – Kraken CLO
Crypto laws are likely to be created by courts says the Chief-Legal Officer at Kraken exchange Marco Santori. Santori who recently joined the crypto exchange believes that creating laws for the digital money market will be handled by the courts in the next one to two years. The CLO goes on to say that cryptocurrency […]
Defamatory legal action against Ethereum co-founder Vitalik Buterin dropped
The self-proclaimed Satoshi Nakamoto, Craig Wright, has dropped his defamatory legal action against Ethereum co-founder Vitalik Buterin, according to the two groups. The legal action is among the five lawsuits that Craig Wright had filed against several members of the digital currency community, who disputed his claims as Satoshi Nakamoto, the anonymous creator of bitcoin. […]
Japan designs blockchain-powered digital court for digital age
A team of researchers in Japan have designed a blockchain-powered digital court that would make settlement of disputes concerning legal agreements cheaper, faster, and more effective announced an official press release on Monday. Given the blockchain technology’s potential to ensure that the information is stored across multiple computers in such a way that it cannot […]
11 Crypto exchange lawsuits for fraudulent sales filed in NewYork
April 3 saw 11 crypto exchange lawsuits filed in the state of New York targeting 7 major crypto firms. The organization behind the lawsuits is Roche Freedman for illegal and fraudulent sales. These class-action suits have indicted companies like Binance, the Tron foundation, Block.one, BitMEX and many others. The lawsuits have also dragged in some […]
