Andrew Griffith, the Economic Secretary to the Treasury in the United Kingdom, has dismissed the recommendation made by the Parliament Treasury Select Committee to regulate cryptocurrency trading as gambling. In a response published on July 20, Griffith explained his reasons for rejecting the proposal. International Regulatory Standards and Risks The Treasury Committee had previously acknowledged
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Officials have confirmed that Nevada courts have granted a petition from the Nevada Financial Institutions Division (NFID) to place Prime Trust, a prominent crypto custodian currently facing financial difficulties, into temporary receivership. The Eighth Judicial District Court of Nevada approved the petition, and John Guedry, a former executive at the Bank of Nevada and other
When Arkham Intelligence’s $ARKM was introduced on July 18 at a price of $0.75, it was met with enthusiasm and quickly reached a high of $1.05004. However, the coin has struggled to maintain its bullish momentum and is currently trading at $0.5962, representing a 7.5% decrease today. Analyzing the hourly Exponential Moving Averages (EMA), the
The United Kingdom’s Treasury Committee had suggested in May that unregulated cryptocurrencies should be treated like gambling. However, the HM Treasury strongly denies this proposal. According to Financial Services Minister Andrew Griffith, treating cryptoassets as a form of gambling goes against globally agreed recommendations from international organizations and standard-setting bodies. The UK government believes that
RISC Zero, a startup specializing in zero-knowledge (ZK) proof software, has successfully raised $40 million in a Series A funding round. The leading investor in this round was Blockchain Capital, a prominent crypto-focused investment firm. RISC Zero plans to utilize the newly acquired capital to launch its Bonsai computing platform. Bonsai: Simplifying Application Development Bonsai
Crypto advocacy groups, including CoinCenter, have expressed their concerns over a Senate bill that aims to impose stringent regulations on individuals involved in decentralized finance (DeFi). The bill in question, known as the Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE), has faced criticism for its potential legal implications. Introduced on July 19 by senators
U.S. lawmaker Ritchie Torres has written a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler, urging the commission to reconsider its regulatory approach in the cryptocurrency industry. Torres’s plea comes in the wake of Judge Analisa Torres’s landmark ruling on June 13, which stated that the programmatic sales of XRP did not fall
The UK government has set its sights on becoming a global leader in artificial intelligence (AI), but experts argue that effective regulation is crucial for this vision to be realized. In a recent comprehensive analysis of the UK’s proposed AI governance model, the Ada Lovelace Institute highlights both the strengths and weaknesses of the approach.
Gala Games (GALA) has endured a challenging period in the cryptocurrency market, experiencing a significant decline of 97% in value since its all-time high in November 2021. However, there have been glimmers of hope amidst the turmoil. In January 2023, GALA witnessed a remarkable rally of 286%, providing temporary relief to its holders. Unfortunately, the
National Australia Bank (NAB) has revealed that it prevented over A$270 million ($184 million) in customer payments due to concerns about potential scams over the past four months. In a statement released on July 17, NAB stated that it had halted transactions to cryptocurrency platforms that were associated with scams between March and July. While