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The US Consumer Financial Protection Bureau (CFPB) is scrutinizing big tech companies like Apple and Google for potentially monopolizing the mobile payments sector and acting as “mini-governments”. This has raised concerns about competition and consumer choice, as CFPB plans to bolster consumer control over personal financial data while promoting open banking and payments.

Texas lawmakers leave crucial crypto regulation bills unresolved. Senate Bill 1751, restricting cryptocurrency mining firms, is now unlikely to be addressed until 2025. However, House Bill 1666 and House Bill 591, await Governor Greg Abbott’s action, potentially shaping Texas’ approach towards digital assets for years to come.

The 2024 U.S. presidential race sees candidates like Ron DeSantis, Robert F. Kennedy Jr., and Vivek Ramaswamy supporting cryptocurrencies, expressing their belief in financial freedom and innovation. However, the balance between promoting crypto and ensuring safety remains crucial, making the 2024 elections a litmus test for crypto in the U.S. political landscape.

“Cyprus proposes to penalize Crypto Asset Service Providers (CASPs) operating without licenses, with penalties up to €350,000 or five years imprisonment. This rule aims at uniformity in the European Union and protecting investors from financial hazards associated with illicit activities and money laundering.”

“Hong Kong-based cryptocurrency exchange JPEX is attempting to convert into a Decentralized Autonomous Organization (DAO), proposing to lock user assets for two years to transform into DAO Stakeholder dividends. However, this proposal has sparked criticism regarding non-consensual asset conversion and possible voting manipulations, questioning the exchange’s credibility.”

JPEX, a controversial Hong Kong-based crypto exchange, is pushing ahead with its Decentralized Autonomous Organization (DAO) Stakeholder Dividend Plan amidst a $191 million financial scandal. Despite approval from 68% of users, the plan, which lets investors convert holdings into DAO dividends, has raised suspicions due to unclear exchange rates and restrictions on withdrawals. Critics question the plan’s economic tenability as arrests and investigations continue.

The European Commission is assessing export controls on AI and semiconductor technologies due to their potential risk, technologically and for human rights violations. Four focal areas for risk assessment are AI, advanced semiconductors, quantum technologies and biotechnologies, influenced by their transformative nature and potential for civil/military fusion.

“Tokenization, or representing real-world assets as blockchain tokens, offers advantages like easier asset management. However, firms must comply with regulation standards, understand duties linked to tokenized assets’ public offerings, and regularly audit assets. An adaptable compliance solution is crucial, given the evolving nature of token regulation.”

“The revelations about FTX founder Sam Bankman-Fried’s struggle with mental health issues and his approach to them within his company sparks a debate about the crypto industry’s stance on mental health. As industry pioneers become the faces of their enterprises, their personal narratives become inherently tied to their businesses, making the handling of mental health challenges a crucial business as well as a moral imperative.”

GSR Markets, a subsidiary of cryptocurrency market maker GSR, has secured in-principal approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This may speed up the adoption of Web 3.0 and boost business investments in the APAC region, while demonstrating Singapore’s favorable stance toward cryptocurrencies.