California commission outlines campaign disclosure requirements for crypto
The California Fair Political Practices Commission has released disclosure requirements for cryptocurrency contributions to political candidates and committees.
Čítaj viac
Značka: California
Crypto Biz: Elon Musk’s X targets financial services, PacWest emergency rescue and more
This week’s Crypto Biz explores Elon Musk’s plans for X, the Italian central bank’s take on DeFi, PacWest’s merger with Banc of California and more.
Čítaj viac
ChatGPT maker OpenAI hit with class-action lawsuit over alleged data theft
AI technology has gained a lot of traction over the past year, with the EU and the U.S. already proposing legislation to regulate the nascent tech.
Čítaj viac
Coinbase faces suit over alleged privacy violations in biometrics collection
The proposed class action lawsuit alleges the exchange violated privacy laws in Illinois when it collected and stored users’ fingerprints and facial scans.
Čítaj viac
JPMorgan to acquire troubled First Republic Bank
Banking giant JPMorgan has won the bid to take over all the assets of the troubled First Republic Bank after efforts to revive it failed.
Čítaj viac
California approves blockchain-based digital wallet for gov't services
Santa Cruz voted to approve the use of a blockchain-based digital wallet for government services and official documentation and is set to begin a pilot program in July 2023.
Čítaj viac
Texas’ gold-backed digital currency project: Law Decoded, April 3–10
While Ted Cruz and Ron DeSantis attack the idea of American CBDC, Texan lawmakers propose to create a statewide one.
Čítaj viac
US state regulators announce $10M settlement with Robinhood 'for failing investors'
The investigation looked into complaints of Robinhood’s system outages, causing users to miss out on trades while many of the platform’s services were unavailable.
Čítaj viac
BlockFi to provide over $100K in refunds to California clients
At least 111 BlockFi borrowers had continued repaying loans between Nov. 11 and Nov. 22, even though they didn’t need to, according to court documents.
Čítaj viac
California AG issues warning-ladened guidance for public interested in buying crypto
With the cryptocurrency market becoming ever more complex and intimidating, California Attorney General Rob Bonta had decided to issue guidance for novice crypto buyers. The California Office of the Attorney General’s website now features a page that will help those new to crypto “avoid the hype, [and] get the facts.” “Don’t fall for a fantasy – Cryptocurrency, like all investments, carries significant risks, and there’s no guarantee that you’ll see large – or any – returns,” Bonta said in a statement. “Our new webpage is meant to be a resource for Californians curious about this new and volatile market.”(The Editor – Los Angeles, CA) Attorney General Bonta Provides Guidance to Californians Considering Investing in Cryptocurrency | State of California – Department of Justice https://t.co/eAiTizfctj— WatchOurCity.com (@WatchOurCity) November 15, 2022The new page emphasizes customer safety. It provides a two-sentence explanation of what “crypto assets” are, plus a vocabulary list, and warns that:“Even when there are no scams involved, crypto assets can be risky, especially if you don’t have enough information to make sound judgments about how you’re spending your money.” Aside from that, the page concentrated on scams, red flags and how to “stay safe.” That information is concise but complete. It reminded the reader of the limit legal recourse available if problems arise with a cryptocurrency purchase, but gave detailed instructions on how and where to file a complaint. Besides explaining what a rug pull and pig butchering are, the guide reminded readers that celebrities are paid for what they say about crypto and that the wise buyer does not fall for Fear of Missing Out.Related: California regulators to investigate FTX crypto exchange collapseCalifornia, which has the world’s fourth largest economy, often appears high on surveys of crypto-friendliness and has been ranked highly for its “crypto-readiness” and growing legal infrastructure. In September, Gov. Gavin Newsom vetoed a bill to create a licensing and regulatory framework for digital assets. Newsom said federal regulation needed to “come into sharper focus for digital financial assets” before states began their regulatory efforts.
Čítaj viac
California regulators to investigate FTX crypto exchange collapse
The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX. California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that the department expects all entities offering financial services in the state to comply with local financial laws.It also encouraged anyone in the state who has been affected by the events of the ongoing FTX saga, to call a dedicated hotline. The state of California is one of many governmental actors within the United States to recently speak out on the matter, despite the fact that FTX claims its U.S. branch is not involved in the incidents. Sam Bankman-Fried, the founder of FTX, tweeted a 22-tweet thread in which he reiterated multiple times that FTX US is a different entity than the international one facing the turmoil. 19) A few other assorted comments:This was about FTX International. FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.It’s 100% liquid. Every user could fully withdraw (modulo gas fees etc).Updates on its future coming.— SBF (@SBF_FTX) November 10, 2022However, later on Nov. 10, FTX US announced it might halt trading on the platform in the upcoming days. Currently on the U.S. website, it states “withdrawals are and will remain open.”Related: FTX turmoil increases scrutiny of industry, something institutional investors have been waiting forincident as a mechanism to call for more regulations on the crypto industry.On Nov. 10, Maxine Waters, the chair of the United States House of Representatives Financial Services Committee, called for tighter industry regulations and highlighted that FTX tokens are “worthless” and its customers are in the dark.The same day saw White House press secretary Karine Jean-Pierre make a statement saying the administration will “closely monitor” activity in the crypto space. Moreover, the “recent news” underscores the need for “prudent regulation” of cryptocurrencies.U.S. Senators Debbie Stabenow and John Boozman reiterated their commitment to finishing and publishing an upcoming crypto bill in light of the news, also citing the incident.While all of this was underway, FTX US resigned from the Crypto Council for Innovation.
Čítaj viac
Elon Musk faces class-action suit over mass Twitter layoffs
Amid Twitter beginning mass layoffs, the company employees are launching a class-action lawsuit against the new Twitter CEO, Elon Musk.According to multiple sources, Musk started massive layoffs at Twitter on Nov. 4, reducing the company’s workforce of 7,500 people. The CEO was speculated to cut as much as 50% of Twitter’s staff, or about 3,500 people, just a few days after acquiring Twitter for $44 billion on Oct. 27.In response to the layoffs, Twitter employees filed a class-action lawsuit against Musk in San Francisco federal court, Bloomberg reported. The suit argues that Twitter is violating federal and California laws by laying off employees without enough notice.The action specifically refers to the federal Worker Adjustment and Retraining Notification Act, which restricts large companies from mounting mass layoffs without at least 60 days of advance notice.Shannon Liss-Riordan, the attorney who filed the class-action lawsuit on Nov. 3, said that all Twitter employees should be aware of their rights. The employees “should not sign away their rights and that they have an avenue for pursuing their rights,” the attorney noted.Liss-Riordan is known for also suing Musk’s electric vehicles firm Tesla over similar claims in June 2022, when Musk cut about 10% of its workforce. Tesla eventually won the case in closed-door arbitration instead of in open court, while Musk reportedly described the Tesla lawsuit as “trivial.”“It appears that he’s repeating the same playbook of what he did at Tesla,” Liss-Riordan stated.The layoffs are part of many changes taking place at Twitter amid Musk’s takeover, including paid account verification. According to reports, Twitter will start charging for Twitter verification starting on Nov. 7.Mass dismissals are not exclusive to Twitter as many companies around the world have been cutting workforce amid the ongoing technology industry’s slowdown. Tech giants including Meta, Amazon, Microsoft and Google have been either freezing hiring or cutting jobs for months.Related: Saying ‘not financial advice’ won’t keep you out of jail — Crypto lawyersMany crypto companies have also been affected, adding to the impact of the ongoing bear crypto market. According to data compiled by crypto data provider CoinGecko, cities like San Francisco, Dubai and New York are the hardest hit by crypto layoffs in 2022 to date.Source: CoinGeckoThe news comes after the New York Stock Exchange delisting Twitter on Oct. 28 amid the social media giant becoming a private company. Other crypto-friendly trading platforms like eToro and Robinhood also delisted Twitter shares from their platform.Major global cryptocurrency exchange Binance invested $500 million to take a share of equity at Twitter. Binance CEO Changpeng Zhao said that the investment has a high potential in terms of monetization, free speech in the crypto community as well as the opportunity to eventually “help bring Twitter into Web3.”
Čítaj viac
Získaj BONUS 8 € v Bitcoinoch
Registrácia Binance
