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In a recent development, Silvergate Bank faces a class action lawsuit brought forth by FTX users, who accuse the bank of aiding and abetting fraud in the stock market, particularly through its association with Alameda Research, an affiliated trading company. On March 20, Judge Ruth Bermudez Montenegro of the San Diego federal court denied Silvergate’s request to dismiss the lawsuit filed in June. The decision underscores the allegations that Silvergate was aware of FTX’s fraudulent activities but still profited from them, unjustly enriching itself at the expense of FTX users.

Estonia has introduced a comprehensive overhaul of its crypto regulation framework, signaling a significant departure from its previous approach and establishing stricter oversight measures for digital asset businesses. Starting from 2026, crypto firms will fall under the rigorous surveillance of the Financial Supervision Authority, marking a shift from the previous focus solely on anti-money laundering efforts.

The United Nations General Assembly has endorsed a resolution concerning artificial intelligence (AI), marking a global effort to shape the development of this transformative technology. Initiated by the United States and supported by 123 countries, including China, the resolution was unanimously adopted on March 2, demonstrating broad consensus among all 193 U.N. member nations.

Google has agreed to pay a fine imposed by the French government’s competition watchdog for a previous breach of European Union intellectual property (IP) laws related to its treatment of media publishers. The French competition authority raised concerns about Google’s AI service, Gemini (formerly known as Bard), alleging that it utilized content from local publishers and news agencies without proper notification and clearance.

The Riksbank has published its conclusive report on the ‘digital krona’ pilot project, focusing on end-user experiences and offline functionality. Released on March 20, the report delves into a new model for offline retail transactions, diverging from the one proposed in the pilot’s Phase 2, where offline transaction data was stored on mobile phones.

The Irkutsk Prosecution Service announced via Telegram that a 35-year-old crypto miner will face trial for allegedly stealing electricity in Cheremkhovo, a town in the Russian crypto mining hotspot of Irkutsk. This move comes amid a broader crackdown on illegal and quasi-legal crypto mining activities in the region.

Congressman Patrick McHenry expressed optimism regarding the passage of crucial cryptocurrency legislation before the November elections. He highlighted positive shifts in legislative prospects, particularly after leadership changes within the House Republicans. McHenry credited the appointment of Mike Johnson, following Kevin McCarthy's removal as Speaker, for facilitating progress on contentious legislation. He emphasized Johnson's ability to bring legislation into law, citing his role in arranging a spending deal to prevent a government shutdown as evidence of his strengths. McHenry noted increased opportunities to pass crypto legislation, which is unusual for an election year, expressing hopes for two specific bills. McHenry mentioned the "Keep Innovation in America Act," a crypto market structure reform bill, for which he is working to schedule a House vote. He also discussed the "Clarity for Payment Stablecoins Act," which he believes could soon become law, given the Biden...

Amidst Argentina's ongoing economic challenges, a notable transformation is underway as citizens seek to safeguard their wealth against the persistent devaluation of the peso. Increasingly, Argentinians are turning to Bitcoin as a hedge against inflation, signaling a potential departure from the longstanding practice of acquiring US dollars as a means of protection. President Javier Milei's economic policies, aimed at stabilizing the money supply, have coincided with a strengthening peso, prompting citizens to explore alternative avenues for wealth preservation. While the traditional strategy of converting pesos to dollars has lost some appeal due to a strengthened parallel exchange rate and a relatively stagnant US dollar, Bitcoin has emerged as an enticing alternative. Bitcoin's allure lies not only in its potential for appreciation, evidenced by its significant value surge compared to both the peso and the dollar, but also in its capacity for diversification. Argentinians are...

In a significant development, several prominent advocacy groups, including the Crypto Council for Innovation (CCI), Satoshi Action Fund, Texas Blockchain Council, Paradigm, Lejilex, and the U.S. Chamber of Commerce, have filed amicus briefs in support of Coinbase's appeal against the U.S. Securities and Exchange Commission (SEC). The filings come as Coinbase seeks clarity and regulatory guidance from the SEC regarding digital assets. The crux of the matter lies in the lack of clear regulatory frameworks, with the SEC's refusal to engage in rulemaking resulting in ambiguity and uncertainty within the crypto industry. The delay in providing regulatory clarity not only hampers innovation but also risks driving digital asset companies to relocate outside the United States, as noted in the joint filing by the Satoshi Action Fund and Texas Blockchain Council. This uncertainty has prompted Coinbase and other market participants to seek regulatory clarity to navigate the evolving landscape...

In a bid to strengthen investor protection and ensure market integrity, the Financial Conduct Authority (FCA) of the United Kingdom has unveiled plans to implement a market abuse regime for cryptocurrencies within the current year. The move, outlined in the FCA's business strategy released on Tuesday, signifies the regulator's proactive stance in combating illicit activities in the crypto sector. The proposed regime will extend to individuals engaging in market abuse activities related to cryptocurrencies traded on UK exchanges, irrespective of their geographic location. This expansion of regulatory oversight underscores the FCA's commitment to curbing market manipulation and fraudulent practices in the digital asset space. Furthermore, the FCA's business plan outlines ambitious initiatives to enhance its surveillance capabilities through advanced analytics tools, including network analysis and cross-asset class visualizations. These technological enhancements aim to bolster the...

Quantum computing, hailed as a transformative force with the potential to reshape various industries, poses a significant threat to Bitcoin, the leading cryptocurrency valued at $1.27 trillion. Bitcoin's reliance on the Proof-of-Work (POW) consensus protocol and Elliptic Curve Cryptography (ECC) for encryption leaves it vulnerable to quantum computing's unparalleled computational power. The POW mechanism, integral to Bitcoin's functioning, involves miners solving complex mathematical puzzles to validate transactions and maintain network security. However, quantum computing's capacity to perform calculations at unprecedented speeds, particularly through algorithms like Grover's, raises concerns about centralizing mining power and compromising Bitcoin's decentralized nature. According to Dan A. Bard, a Teaching Staff member at the University of Kent, projections suggest that within approximately 27 years, a single quantum computer could potentially outpace the entire Bitcoin network,...

The National Securities Commission (CNV) of Argentina has announced its intent to regulate the nation's cryptocurrency service providers, marking a significant shift in oversight within the Latin American country's crypto sector. On March 18, the CNV revealed its plans to actively supervise Argentina's trading platforms, signaling a proactive approach to enforcing regulatory compliance within the burgeoning crypto industry. As part of these efforts, the CNV will establish a national registry of crypto platforms, with operators likely required to obtain operating licenses to continue their activities legally. This move follows closely on the heels of the Argentine Senate's approval of legislation to create a registry of cryptocurrency service providers, a decision reportedly influenced by pressure from the Financial Action Task Force (FATF). With FATF officials warning of potential repercussions, including placement on the organization's "grey list," Argentina faces increasing...