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CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as Commodities

CFTC Takes Legal Action Against Kucoin, Highlights BTC, ETH, and LTC as CommoditiesThe U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Kucoin, emphasizing the classification of bitcoin, ethereum, and litecoin as commodities. The enforcement action, launched in the U.S. District Court for the Southern District of New York, accuses Kucoin of multiple regulatory breaches involving these digital assets. Kucoin’s Legal Battles Shine a Bright […]

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Kucoin’s Legal Woes Spark Massive $1.7 Billion Withdrawal, Onchain Data Reveals

Kucoin’s Legal Woes Spark Massive .7 Billion Withdrawal, Onchain Data RevealsAfter the Kucoin indictment on Tuesday, subsequent onchain data from Nansen indicates that, to date, $1.7 billion in funds have been withdrawn from the exchange. Crypto Assets Worth $1.7 Billion Pulled From Kucoin Since the Department of Justice (DOJ) accused Kucoin and its founders of breaching the Bank Secrecy Act and anti-money laundering regulations, there […]

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Nansen Reports $200 Million Exodus From Kucoin After DOJ Action

Nansen Reports 0 Million Exodus From Kucoin After DOJ ActionFollowing the Department of Justice’s (DOJ) legal action against Kucoin and its founders, analysts from Nansen specializing in real-time onchain data revealed that Kucoin experienced a withdrawal of $99 million in Ethereum-based assets and $109 million in outflows from various EVM-compatible chains. Ethereum and EVM Chains See $200 Million Outflow From Kucoin On a Tuesday, […]

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

US Government Charges KuCoin and Two Founders for Alleged ‘Multibillion-Dollar Criminal Conspiracy’

US Government Charges KuCoin and Two Founders for Alleged ‘Multibillion-Dollar Criminal Conspiracy’

The U.S. Department of Justice (DOJ) and the Commodities Futures Trading Commission (CFTC) have announced the unsealing of an indictment against crypto exchange KuCoin and two of its founders. In a statement from the U.S. Attorney’s Office in the Southern District of New York, U.S. Attorney Damian Williams and Darren McCormack, the Acting Special Agent […]

The post US Government Charges KuCoin and Two Founders for Alleged ‘Multibillion-Dollar Criminal Conspiracy’ appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Crypto Exchange Kucoin and Founders Charged With Bank Secrecy Act and Money Laundering Violations

Crypto Exchange Kucoin and Founders Charged With Bank Secrecy Act and Money Laundering ViolationsThe Southern District of New York has announced charges against the global cryptocurrency exchange Kucoin and its founders for major violations of U.S. anti-money laundering laws. Kucoin Faces Legal Firestorm for Alleged Anti-Money Laundering Failures Damian Williams, the United States Attorney for the Southern District of New York, detailed the charges against Kucoin, accusing the […]

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Apple Expunges Binance, Kraken, Kucoin, Huobi and Other Crypto Exchanges From App Store in India: Report

Apple Expunges Binance, Kraken, Kucoin, Huobi and Other Crypto Exchanges From App Store in India: Report

Apple has reportedly booted out several crypto exchanges from its app store in India amid allegations that most of these platforms are illegally operating in the country. TechCrunch reports that Binance, Kraken, Huobi, Gate.io, Bittrex, Bitfinex and OKX’s apps are no longer accessible on Apple’s India app store, though customers who have already installed them […]

The post Apple Expunges Binance, Kraken, Kucoin, Huobi and Other Crypto Exchanges From App Store in India: Report appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

The Pope and US regulators warn about AI risks: Law Decoded

The head of the Catholic Church warned humanity of AI’s potential dangers and explained what needs to be done to control it.

Nowadays, everyone has an opinion on artificial intelligence (AI) and its potential risks. Even Pope Francis — the head of the Catholic Church — warned humanity of AI’s potential dangers and explained what needs to be done to control it. The Pope wants to see an international treaty to regulate AI to ensure it is developed and used ethically. Otherwise, he says, we risk falling into the spiral of a “technological dictatorship.” The threat of AI arises when developers have a “desire for profit or thirst for power” that dominates the wish to exist freely and peacefully, he added. 

The same feeling was expressed by the Financial Stability Oversight Council (FSOC), which is comprised of top financial regulators and chaired by United States Treasury Secretary Janet Yellen. In its annual report, the organization emphasized that AI carries specific risks, such as cybersecurity and model risks. It suggested that companies and regulators enhance their knowledge and capabilities to monitor AI innovation and usage and identify emerging risks. According to the report, specific AI tools are highly technical and complex, posing challenges for institutions to explain or monitor them effectively. The report warns that companies and regulators may overlook biased or inaccurate results without a comprehensive understanding.

Even judges in the United Kingdom are ruminating on the risks of using AI in their work. Four senior judges in the U.K. have issued judicial guidance for AI, which deals with AI’s “responsible use” in courts and tribunals. The guidance points out potentially useful instances of AI usage, primarily in administrative aspects such as summarizing texts, writing presentations and composing emails. However, most of the guidance cautions judges to avoid consuming false information produced through AI searches and summaries and to be vigilant about anything false being produced by AI in their name. Particularly not recommended is the use of AI for legal research and analysis.

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Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

KuCoin Forced To Exit New York After Settling State Attorney General’s Lawsuit for $22,000,000

US Government Charges KuCoin and Two Founders for Alleged ‘Multibillion-Dollar Criminal Conspiracy’

Crypto exchange KuCoin will cease operating in New York as part of an agreement to settle a lawsuit accusing the Seychelles-based platform of failing to register as a securities and commodities broker-dealer. In a new statement, the office of New York Attorney General Letitia James says KuCoin must pay the state a $5.3 million penalty […]

The post KuCoin Forced To Exit New York After Settling State Attorney General’s Lawsuit for $22,000,000 appeared first on The Daily Hodl.

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal