Daily Archives: April 27, 2023, 4:58 pm

Sam Bankman-Fried haunts the halls of Congress, lawmaker says

“His ghost is still in this room. He haunts the halls of Rayburn,” Sherman said, referencing the Rayburn House Office Building in which the hearing was held. “But let’s remember why he was here. For one reason: To prevent the SEC from having jurisdiction over cryptocurrency.” *** The Thursday afternoon hearing was held by the House Financial Services Committee’s Subcommittee…

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Representative Zach Nunn Introduces Bill to Protect Americans’ Digital Assets | Representative Nunn

Representative Zach Nunn (IA-03) today introduced new legislation to strengthen America’s national security and protect digital assets. The bipartisan Financial Technology Protection Act of 2023 would establish a working group among key federal government departments and intelligence agencies to help combat terrorism and illicit financing on digital platforms. *** The Financial Technology Protection Act of 2023 would protect the emerging…

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Private Unicorns Need Disclosure Boost, SEC’s Lizarraga Says

Unicorns should publicly disclose more about their businesses under SEC rules that have allowed big private companies to report little, if any, information, Democratic SEC Commissioner Jaime Lizarraga said Wednesday. Unicorns, young private companies valued at $1 billion or more, should report their sizes, lines of business and other details that public companies must disclose, Lizarraga said. The Securities and…

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PricewaterhouseCoopers to Pour $1 Billion Into Generative AI – WSJ

PricewaterhouseCoopers LLP plans to invest $1 billion in generative artificial intelligence technology in its U.S. operations over the next three years, working with Microsoft Corp. and ChatGPT-maker OpenAI to automate aspects of its tax, audit and consulting services. *** Once the models are fully trained and tested, Mr. Kande sees the technology being used to quickly write reports and prepare…

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With U.S. Crypto Regulations on the Way, Please Enjoy the Final Crypto Winter

As we clear a path through the wreckage of the crypto winter, the same bright future is coming for the blockchain industry. Bad actors are going to jail. Rules are getting clearer. And, most importantly, the companies involved in this ecosystem are starting to build real products and have valuations based on revenue and profits. The result is that blockchain…

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Meanwhile in Crypto – Bloomberg

…. “They understand crypto better than anyone,” says David Adler, a lawyer who represents a group of creditors in the Celsius case. “But the problem is translating that into the legal principles that the court has to apply.” I insist that if you put your money in Celsius then you did not “understand crypto better than anyone”! The very most…

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