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
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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
California DMV putting vehicle titles on a subnet is innovation theater
It would be harder than putting VINs on a private subnet, but how about allowing vehicle owners to get zero-knowledge proof of ownership on a public chain? Go to Source
Google Faces Lawsuit After $5M in Crypto Stolen via Play Store App
A Florida woman, Maria Vaca, has sued Google in a California state court, alleging that a cryptocurrency wallet app she downloaded from the Google Play Store was malicious and resulted in the theft of $5 million in cryptocurrency. Vaca claims the app, Yobit Pro, exploited Google’s marketing that portrayed the Play Store as a secure … Read more
