US lawmakers hold EU and UK as examples of crypto regulation in joint hearing

With the European Union coming closer to passing the Markets in Crypto-Assets framework and Kraken in the process of investing in the United Kingdom, lawmakers are taking notice. Some members of the United States House of Representatives’ Financial Services Committee and Agriculture Committee pointed to crypto asset frameworks being employed outside the country when discussing…

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UK National Pleads Guilty to Stealing $8 Million in Crypto and Hacking Twitter Accounts

Joseph James O’Connor, a 23-year-old British citizen extradited from Spain to the United States on April 26, pleaded guilty to multiple charges, including hacking the social media platform Twitter in 2020. O’Connor, who also uses the online name PlugwalkJoe, has been charged with stealing cryptocurrencies worth $794,000 from a Manhattan-based company through a SIM Swap…

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UK financial watchdog announces inspections against sites with suspected illegal crypto ATMs

The FCA’s actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators. The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.” In a May 5 announcement,…

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UK reviews AI development: It can ‘drive substantial economic growth’

The U.K. Competition and Markets Authority said it would examine AI’s development, deployment and social impact. The United Kingdom’s Competition and Markets Authority (CMA) has turned its attention to artificial intelligence (AI) after announcing an examination of the impact of the technology on consumers and the economy. On May 4, the regulator said it would be…

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