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French lawmakers unanimously agreed to impose new regulations on social media influencers promoting cryptocurrencies, potentially making France the first European nation to regulate paid marketing efforts in various industries. This development raises debates on whether regulating influencers helps maintain market integrity and safety or stifles innovation and growth potential in the emerging crypto sector.

South Korea’s Justice Ministry clarifies its stance on the cryptoasset holdings of public officials working with cryptocurrency regulations, assuring that bi-annual checks are conducted. Amidst controversies surrounding lawmakers owning cryptocurrencies, the debate over mandatory transparency versus private, personal information arises, with worldwide implications as the adoption of cryptocurrencies increases.

The US House Financial Services Committee’s digital assets panel debated on stablecoin regulations, highlighting divides between Republican and Democratic ideas. Both parties do align in addressing risks to consumers and maintaining the US dollar’s role in global commerce. Lawmakers are paying heightened attention to stablecoin regulations and wider crypto topics, marking progress in US oversight of the industry.

South Korean lawmakers may soon need to declare their crypto holdings amid a national outcry over alleged “insider trading.” This development is linked to the controversy involving MP Kim Nam-kuk, accused of suspicious crypto trades worth around $4.5 million. The situation raises questions about transparency and regulation within the expanding crypto space and their integration into traditional financial and political systems.

The UK Treasury Committee recommends regulating retail trading of unbacked crypto assets like Bitcoin and Ether as gambling due to their price volatility and lack of intrinsic value, potentially posing significant risks to consumers. The committee acknowledges potential benefits of cryptocurrencies in financial services and markets and supports developing a regulatory framework to mitigate risks.

Coinbase forms a global advisory council including former US lawmakers to navigate the evolving crypto regulatory landscape and reestablish positive relations with American regulators. The council will play a crucial role in helping Coinbase work with regulators and embrace the potential of crypto and blockchain technology.

South Korean lawmaker Kim Nam-kuk departs from the Democratic Party amid allegations surrounding his crypto dealings. Nam-kuk faces accusations of liquidating $4 million worth of crypto assets before the implementation of the Travel Rule in March 2023. South Korea’s central bank recently gained authority to investigate crypto-related businesses, balancing regulation and industry growth.

Coinbase forms Global Advisory Council, featuring former US lawmakers and industry leaders, aiming to better understand global cryptocurrency policies and navigate market intricacies. This proactive approach showcases Coinbase’s dedication to engaging with policymakers and experts, benefiting the entire crypto community and promoting growth within the blockchain sector.

Coinbase launches its Global Advisory Council, including former US lawmakers Patrick Toomey, Tim Ryan, and Patrick Maloney, to navigate crypto regulations. The council aims to collaborate with regulators, shaping the future of cryptocurrency and bridging the gap between regulators and innovators.

Jane Street and Jump Crypto are exiting the U.S. crypto market due to regulatory crackdowns and uncertainty, potentially impacting liquidity and global expansion plans. These developments raise concerns regarding market efficiency, growth, and the industry’s ability to evolve amidst ongoing challenges.

South Korean lawmaker Kim Nam-kuk faces controversy over accusations of suspicious crypto trades worth $4.5 million, withdrawing holdings before new crypto regulations. Kim denies allegations, stressing real-name accounts usage and transparency. The scandal highlights disagreements on crypto trading ethics and regulation among South Korean politicians.

The ongoing case of South Korea’s National Assembly member Kim Nam-kuk, who liquidated over $4 million worth of crypto assets before regulation enforcement, highlights the need for crypto regulations that prevent potential conflicts of interest among lawmakers and prioritize transparency and accountability.

The European Union is reportedly discussing stricter regulations on large-scale language models (LLMs) like OpenAI’s GPT-4 and Meta’s Llama 2, aimed at controlling these models without overloading start-ups. These discussions touch on the implications of LLMs, user safety, and ethical AI deployment, mirroring the approach of the EU’s Digital Services Act.

“Sam Bankman-Fried, former FTX CEO, faces a trial for allegedly misleading customers about the financial health of his company. The trial explores FTX’s business practices, its relationship with subsidiary Alameda, and highlights the complex issues of regulating a rapidly evolving global crypto industry.”

“Taiwanese legislators are set to introduce the country’s first cryptocurrency regulatory bill in November 2023, aimed at overseeing cryptocurrency trading and related activities. The law is intended to prevent ‘regulatory arbitrage’ and protect investors from the challenges posed by rising foreign crypto operations.”

The Basel Committee on Banking Supervision might soon impose disclosure requirements for banks’ crypto assets, underlining the risks involved in drastic shifts in finance and technology. Amid discussions about crypto regulations, it’s crucial to balance embracing technological advancements and mitigating their associated risks. A consultation paper on crypto asset exposure disclosure is expected soon.

“The development of Central Bank Digital Currency (CBDC) faces multifaceted challenges before achieving universal financial inclusion. Achieving this involves managing financial, digital and practical accessibility aspects, with unestimated demographic barriers. Elderly, disabled individuals, and others with limited internet access can hinder blockchain technology and CBDC’s broad adoption.”