• Bitstamp to halt U.S. trading of seven tokens deemed securities by SEC
• US prosecutors to issue superseding indictment against Sam Bankman-Fried next week
• Federal Reserve creates ‘Novel Activities Supervision Program’ to oversee new financial technologies
Bitstamp Halts U.S. Trading for Tokens Identified as Securities
Bitstamp, a digital asset exchange, has announced that it will be halting the U.S. trading of seven tokens identified as securities by the SEC in Coinbase and Binance cases. The move comes in light of increasing scrutiny from regulators and enforcement agencies on the crypto industry in recent months.
US Prosecutors Set to Issue Indictment Against Sam Bankman-Fried
The US prosecutors are set to issue a superseding indictment against Sam Bankman-Fried, co-founder and former CEO of digital asset exchange FTX DM, next week over alleged campaign finance violations. It is unclear whether Ryan Salame, co-CEO at FTX’s Bahamas subsidiary, will plead guilty and agree to testify against Bankman-Fried as part of his plea deal with prosecutors.
Federal Reserve Creates Program To Oversee Financial Technologies
The Federal Reserve has created a Novel Activities Supervision Program (NASP) designed to oversee new financial technologies such as cryptocurrencies and other digital assets which may pose multiple risks with their usage or development in the market place. This program is intended to provide guidance on what constitutes legal and appropriate use of these technologies within the regulatory framework established by federal laws and standards.
Hong Kong Regulator Issues Warning on Unlicensed Virtual Asset Trading Platforms
The Hong Kong Securities and Futures Commission has issued a warning that unlicensed virtual asset trading platforms operating within its jurisdiction may face steep fines and even imprisonment if they fail to comply with applicable laws and regulations regarding consumer protection measures or other relevant requirements related to their operations or activities.
Tim Cook Says AI & Machine Learning Are Part Of Every Product Apple Builds
Apple CEO Tim Cook recently made remarks that artificial intelligence (AI) and machine learning are part of “virtually every product” Apple is building across its various divisions, including services like Siri, Maps, health initiatives such as ResearchKit and CareKit, ARKit augmented reality tools for developers, security features such as Face ID facial recognition system for unlocking iPhones amongst many others powered by AI technology today