SEC
SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.
UN convenes AI High-level Advisory Body for Global Governance
The UN Secretary-General is convening a High-level Advisory Body on AI to analyze and advance recommendations for global AI governance. Comprising up to 38 international experts from government, private sector, and civil society, the body aims to harness AI for humanity while addressing its risks. The initiative, which underscores the importance of a globally inclusive approach, seeks to align AI governance with human rights and Sustainable Development Goals.
SEC Commissioner Expresses Dissent on LBRY Case Outcome
SEC Commissioner Hester M. Peirce criticizes the commission's enforcement action against blockchain firm LBRY, Inc., highlighting the case as an example of regulatory overreach that stifles innovation and fails to adequately protect investors. Amidst ongoing legal actions against crypto enterprises, Peirce's dissent underscores the need for a balanced regulatory approach to foster innovation and investor protection in the blockchain and crypto sectors.
ECB Advances Digital Euro Project into Preparation Phase
The ECB's progression into the preparation phase of the digital euro project marks a pivotal step towards modernizing Europe's financial infrastructure. The digital euro, envisioned as a secure, accessible, and private means of digital payment, holds the promise of fortifying the European monetary system in the digital age.
Chamber of Digital Commerce Joins Forces to Counter SEC's Lawsuit Against Binance.US
The Chamber of Digital Commerce has spearheaded a collective effort to defend Binance.US against the SEC's lawsuit. The chamber, along with Binance.US and other industry stakeholders, is challenging the SEC's regulatory approach, marking a significant collaborative resistance within the cryptocurrency sector.
DTCC to Acquire Securrency, Advancing in Digital Asset Infrastructure
DTCC announces its strategic acquisition of digital asset infrastructure specialist, Securrency. This move will bolster DTCC's digital asset offerings and streamline the integration of blockchain technology.
Ripple Executives Cleared of SEC Charges in Landmark Decision
In a major development, Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges by the U.S. Securities and Exchange Commission (SEC). This is the third legal victory for the executives and Ripple, leaving the crypto industry questioning the SEC's approach.
Scroll Launches zkEVM Mainnet
Scroll unveils its zkEVM mainnet on October 17, enhancing Ethereum’s scalability and developer engagement. Employing zero knowledge proofs, it boosts transaction speeds and reduces costs, promising a near-identical Ethereum experience, without compromising security or decentralization. The launch follows extensive testing, with notable contributions to Ethereum Foundation’s Privacy and Scaling Explorations. The initiative eyes global developer adoption, advancing Ethereum’s Layer 2 solutions.
US Toughens Export Controls on Semiconductors to China Amid Military Concerns
The US Department of Commerce tightened export controls on advanced computing semiconductors to China and other countries of concern to address national security threats posed by military modernization. The rules, effective from November 16, 2023, refine the parameters defining restricted chips, introduce a global licensing requirement, and expand controls on semiconductor manufacturing equipment. The update also adds certain PRC entities to the Entity List, requiring a BIS license for foundries manufacturing chips for these entities.
Platypus Recovers 90% of Stolen Funds from Recent Exploit
Platypus DeFi protocol has recovered 90% of the funds stolen in the recent 12 October 2023 exploit, reducing the net loss to about 18,000 AVAX. The protocol acknowledged the community's support in swiftly resolving the crisis and is making arrangements for the withdrawal of liquidity providers. Amidst ongoing investigations and enhanced security measures, Platypus continues to work on a compensation plan for affected users from previous attacks.
FTX Announces Proposed Settlement and Amended Plan in Chapter 11 Cases
FTX has announced a proposed settlement in their Chapter 11 cases, pending court approval. The settlement includes a "Shortfall Claim" for customers and an amended Plan of Reorganization. The Official Committee of Unsecured Creditors supports the plan, expecting expedited cases and improved recoveries. Customers may receive over 90% of distributable value globally.