IcomTech execs set to pay over $5M for fake Bitcoin trading scheme
At least four of IcomTech’s operators are now behind bars after receiving prison sentences of up to 10 years this year. Go to Source
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Lawsuits could be catastrophic for DAOs if denied ‘limited liability’
The VC firms sued in a California case were active in DAO management, much like general partners, said the court. They could face hefty lawsuits. Go to Source
California revokes BlockFi’s lending license 2 years after bankruptcy
Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices. Go to Source
FBI Warns Investors of Growing Crypto Scams Amid Billion-Dollar Losses
The Federal Bureau of Investigation (FBI) has issued a warning to cryptocurrency investors, highlighting a surge in scams, particularly targeting retirees and the elderly. FBI experts explain how scammers trick victims into fake crypto investments and scare them into handing over more funds before vanishing with the money. FBI Warns of Growing Cryptocurrency Scams Amid … Read more
OpenAI’s move to for-profit: Is it indeed ‘illegal’?
OpenAI’s potential transformation into a for-profit corporation is not impossible, but it will likely not be an easy process. Go to Source
Robinhood Fined $3.9 Million Over Crypto Withdrawal Restrictions in California
California Attorney General Rob Bonta has announced a $3.9 million settlement with Robinhood Crypto for restricting cryptocurrency withdrawals and not fully disclosing trading practices. The settlement marks the first public action by California’s Department of Justice against a cryptocurrency firm. As part of the settlement, Robinhood must allow customers to withdraw cryptocurrencies to their own … Read more
Robinhood reaches $3.9M settlement over blocked crypto withdrawals
Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022. Go to Source
Court Upholds $1,000 Cap on Daily Crypto ATM Withdrawals in California
A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new disclosures. California Court Upholds Bitcoin ATM Withdrawal Limit The California Department of Financial Protection and Innovation (DFPI) … 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
OpenAI supports California bill on marking AI content — Report
After previously opposing another AI-related bill, SB 1047, OpenAI has expressed support for AB 3211, which would require watermarks on AI-generated content. Go to Source
