Generative AI governance targeted in proposed EU rules
The EU’s AI Act has been pushed through to the trilogue stage after nearly two years of drafting. The draft includes requirements for generative AI tools, like ChatGPT, to disclose the copyrighted material used in developing their programmes.
European Parliament Overwhelmingly Approves MiCA Crypto Regulations for Firms
The Markets in Crypto-Assets (MiCA) crypto licensing regulations have been overwhelmingly approved by the European Parliament, with MEPs voting 517-38 in favor of the new regime.
Former TSB CIO Fined Over £80,000 for Role in Problematic IT Migration Programme
The former CIO of TSB Bank has been fined over £80,000 for his role in a problematic IT migration programme in 2018 that resulted in customers being locked out of their accounts for several weeks and caused ongoing technical issues for months.
World's Largest Stolen Credentials Marketplace Shut Down in Global Operation
Genesis Market, which sold digital identities and 'bots' containing stolen data from over 2 million people, was taken offline in a coordinated operation called "Operation Cookie Monster" involving 17 countries.
US CFTC Charges Binance and Top Executives with Wilful Evasion of US Law
The US Commodity Futures and Trading Commission (CFTC) has filed a complaint against Binance, its CEO Changpeng Zhao, and three entities that operate the Binance platform, alleging multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations.
CryptoUK Raises Concerns Over Bank Restrictions on Cryptocurrency Purchase
The trade association CryptoUK has expressed concern to the UK government about recent actions by banks to restrict cryptocurrency purchases.
FCA Issues Warning to Payment Firms Over "Unacceptable" Risks
The Financial Conduct Authority (FCA) has issued a warning to nearly 300 payment firms, stating that they must take prompt action to address "unacceptable" risks to consumers and the financial system or face closure.
Regulator takes control of Silicon Valley Bank
The California Department of Financial Protection and Innovation has taken control of Silicon Valley Bank, with the FDIC appointed as receiver due to concerns of "inadequate liquidity and insolvency.
