Ireland drafting urgent crypto laws before EU money laundering rules
Ireland’s finance minister wants to act quickly before the EU enacts strict Anti-Money Laundering legislation. Go to Source
Legislation
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Russian Republic Dagestan Battles Underground Crypto Mining Amid Power Outages
Dagestan, a republic in Russia, is stepping up efforts to tackle illegal cryptocurrency mining due to its impact on the power grid and public safety. Underground mining operations have caused recent infrastructure damage, including a substation fire. Officials call for stricter measures to address these issues as miners bypass regulations. Dagestan Cracks Down on Illegal … Read more
Lawmaker Criticizes Biden-Harris Administration’s Approach to Defi Regulation
House Financial Services Subcommittee Chairman French Hill emphasized the need to understand decentralized finance technologies during a hearing. He criticized the Biden administration’s regulatory approach and urged Congress to keep discussions open on supporting defi innovation. Hill noted that current regulatory frameworks were created for a system reliant on centralized intermediaries, not the decentralized, peer-to-peer … Read more
What the California AI ‘killswitch’ bill means for decentralized AI
The AI industry is split over new legislation in California that would implement a sort of emergency stop in AI systems. Go to Source
Senate Majority Leader: Bipartisan Crypto Legislation Could Pass in 2024
Senate Majority Leader Chuck Schumer is optimistic about passing bipartisan crypto legislation by year’s end, stressing the importance of collaboration to keep the U.S. at the forefront of innovation. At the “Crypto4Harris” event supporting Vice President Kamala Harris’ campaign, Schumer emphasized the inevitability of cryptocurrency and the need for well-crafted legislation. Schumer Optimistic About Bipartisan … Read more
California AI bill aimed at preventing disasters draws ire from Silicon Valley
Crypto VC giant a16z claims the AI legislation will “burden startups because of its arbitrary and shifting thresholds.” Go to Source
Crypto could get boost from younger, tech-savvy Harris administration
A Harris administration could be younger and more pragmatic and bring “a fresh perspective toward crypto,” some believe. Go to Source
Putin Signs Law to Regulate Crypto Mining in Russia
Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated framework for mining operations, limiting participation from entities associated with electricity and prohibiting the promotion of cryptocurrencies. It also allows the circulation of mined cryptocurrency … Read more
French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation
The French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This regulation mandates prior authorization for market participants offering crypto asset services in the EU, with strict adherence to anti-money laundering, cybersecurity, and … Read more
New Senate Bill Empowers US Secret Service to Combat Digital Asset Cybercrimes
U.S. senators have introduced legislation to empower the Secret Service to combat cybercrimes involving digital assets. This legislation addresses the growing use of cryptocurrencies for illicit activities and mandates the Government Accountability Office to evaluate law enforcement’s effectiveness in tackling money laundering in cyber crimes. New Bill Targets Cybercrime and Money Laundering with Digital Assets … Read more