NYDFS Fines OneMain for Cybersecurity Violations
Financial Services Superintendent Adrienne A. Harris announced that OneMain Financial Group LLC was fined $4.25 million for cybersecurity violations.
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Crypto Bills Hang by a Thread in US
A few drafted crypto-related bills are still left without any resolution in the US, while one may be eliminated altogether
Bali Cracks Down on Crypto
Bali authorities will be taking strict measures against tourists paying for goods and services with cryptocurrency
Credit Suisse Loses Singapore Case Against Georgian Billionaire Ivanishvili
A Singapore court has ordered a unit of Credit Suisse Group AG to pay billionaire Bidzina Ivanishvili $926 million.
OpenAI Launches Grant Program, Expands iOS App
OpenAI is ready to fund the development of proofs-of-concept that could establish democratic processes for overseeing AI, while its iOS app version expands to 45 more countries
Japan Tightens Crypto Rules
Already having one of the strictest cryptocurrency regulations in the world, Japan is going to introduce even stricter measures against money laundering in the crypto industry starting from 1 June 2023
Citizens Bank to Pay $9 Million Fine Over Credit Card Billing Errors
The Consumer Financial Protection Bureau (CFPB) and Citizens Financial Group were able to reach an agreement on the CFPB complaint.
Hong Kong Securities Regulator Starts Accepting License Applications from Crypto Exchanges
Applications for crypto trading platform licenses in Hong Kong will start being accepted on June 1, as soon as existing guidelines are officially updated
Huobi Ordered to Close Operations in Malaysia
Securities Commission Malaysia (SCM) ordered the crypto exchange Huobi Global to stop operations in the country, stating the firm failed to register its business properly
G7 Countries Seek Common Vision for AI
The leaders of the G7 countries intend to hold a negotiation process, following which a common vision of artificial intelligence will be formed and the goals of its development will be outlined.
Disney Scraps $867 Million Florida Plan
The Walt Disney Company has abandoned its intention to invest $867 million in the construction of a new corporate campus in the state of Florida.
TikTok Creators Sue Montana Over App Ban
A group of TikTok users filed a lawsuit to get the Montana state administration to cancel the blocking of this digital platform.
FTC Says Biometric Surveillance Threatens Civil Rights
The Federal Trade Commission (FTC) has stated that the increased use of biometric data entails risks related to privacy, security, and discrimination.
Fertility App Fines $200,000 for Leaking Customer’s Health Data
The company that created the popular infertility treatment app Premom has announced to pay $200,000 in federal and state fines.
Sam Altman Urges Congress to Regulate Powerful New Technology
On Tuesday, May 16, Sam Altman, Chief Executive Officer of OpenAI, told US senators about the aspects of the development and application of artificial intelligence, the regulation of which he supports.
Wells Fargo Reaches $1 Billion Settlement With Shareholders
Wells Fargo & Co has decided to pay $1 billion to settle the court agreement.
