Authorities in the United Kingdom and France have also reportedly cited concerns over Worldcoin’s data collection methods, which involve collecting iris scans from users. The Bavarian State Office for Data Protection Supervision, or BayLDA, reportedly began an investigation into human identity verification project Worldcoin based on concerns over biometric data. According to a July 31…
UK data regulator The Information Commissioner’s Office is inquiring into the eyeball-scanning orb project Worldcoin — co-founded by OpenAI CEO Sam Altman — which launched its WLD token yesterday. “We note the launch of Worldcoin in the UK and will be making inquiries,” a spokesperson for the ICO told The Block. Worldcoin’s launch raises questions…
Following a partial defeat in its three-year-long case against Ripple over the firm’s sale of its native token XRP, the U.S. Securities and Exchange Commission has revealed that it is now “considering the various available avenues for further review” of the court ruling. SEC Prepares To Challenge Ripple Decision Ripple Lab’s battle with the SEC…
In a report requested by Rep. Maxine Waters, the country’s top watchdog is carefully neutral but dissatisfied with agencies’ abilities to work together. The United States Government Accountability Office (GAO), a Congressional watchdog agency, has released a report it completed in June on the regulatory framework for the use of blockchain in finance. The 77-page…
Vermont issued the investor alert after a 74-year-old man lost his life savings of over $340,000 in a crypto fraud orchestrated over Instagram and Telegram. The Vermont Department of Financial Regulation (DFR) — the United States state of Vermont’s financial regulatory agency — warned citizens against rising crypto investment frauds perpetrated over popular social media…
Andrew Griffith, economic secretary to the UK Treasury, said that equating crypto assets as a form of gambling would risk creating misalignment with international standards and approaches from other major jurisdictions, including the European Union. Responding to a Treasury Committee’s report on regulating crypto, Griffith said that such a move would potentially create unclear and…
In a landmark ruling, Judge Analisa Torres of the United States District Court for the Southern District of New York sided with Fintech company Ripple and decided that XRP was not necessarily a security. Ripple, the company behind the cryptocurrency, now expects U.S. banks and financial institutions to use XRP for cross-border payments. In an…
Reps. French Hill and Dusty Johnson suggested the SEC may have undertaken certain actions on crypto “seemingly timed to coincide with related Congressional activity.” Two members of the United States House of Representatives have added their names to a list of lawmakers criticizing Securities and Exchange Commission (SEC) Chair Gary Gensler’s approach to digital asset…
The US presidential candidate from the Democratic party – Robert F. Kennedy – vowed to strengthen America’s official currency by backing it with bitcoin, gold, silver, and platinum. Several finance experts, such as Robert Kiyosaki, have predicted a gloomy future for the dollar, advising consumers to invest in the primary cryptocurrency or precious metals. Kennedy’s…
U.S. Rep. Ritchie Torres, D-N.Y., called on the Securities and Exchange Commission to refocus its efforts to go after bad actors in the cryptocurrency sector following a judge’s split decision last week in an ongoing dispute between Ripple Labs and the regulator. In a letter sent Tuesday to SEC Chair Gary Gensler, Torres said he…