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UK stablecoin regulation begins to take shape in multiple FCA, BOE documents

A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter to CEOs of deposit-taking institutions,

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UK AI Safety Summit begins with global leaders in attendance, remarks from China and Musk

The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China. U.K. Prime Minister Rishi Sunak is hosting the

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Onyx Protocol exploiter begins siphoning $2.1M loot on Tornado Cash

Decentralized peer-to-peer lending platform Onyx Protocol lost roughly $2.1 million in an exploit of a market with no liquidity that was deployed on Oct. 27. The Onyx Protocol hacker exploited a known bug, a rounding issue behind the popular CompoundV2 fork, explained blockchain investigator PeckShield soon after alerting about the hack

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Russian bank begins tracking customer crypto activities

By tracking crypto transactions, the Russian government seemingly wants to make a regulatory field for state corporations to enter the market. A Russian bank has started tracking its customers’ activities in crypto as the government desires to form regulatory conditions for state corporations to enter. In an interview with Russia’s state newspaper,

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Crypto Lender BlockFi Begins Shutdown, Asks Clients to Submit Withdrawal Request

BlockFi revealed that it has emerged from bankruptcy court, having received approval for its reorganization plan from all relevant stakeholders. Nearly 11 months after it first declared bankruptcy, the crypto lender BlockFi has now officially begun the process of winding down its operations. In line with this, the company has asked

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SBF’s trial begins, more layoffs, Israel at war with Hamas, Ripple secures another victory

This week, FTX founder Sam Bankman-Fried’s trial began; the crypto sector witnesses more layoffs; a Hamas-led attack stuns Israel; Ripple vs. U.S. SEC continues. SBF faces trial Sam Bankman-Fried’s trial continues on Tuesday, Oct. 10 with testimony from former Alameda CEO Caroline Ellison. Before the trial began on Oct. 3, attorneys declined

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Sam Bankman-Fried Sues His Insurer as Legal Bills Mount and Fraud Trial Begins

CNA, also known as the Continental Casualty Company, has “unjustifiably failed to make timely payment on Mr. Bankman-Fried’s claims as required by the Policy,” said the filing, adding that those alleged breaches “have caused, and threaten to cause, substantial and irreparable harm to Mr. Bankman-Fried for which there is no

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