Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February 2024. A federal judge determined that there is a flight risk if Zhao is allowed to return to the United Arab Emirates. The judge cited Zhao’s enormous wealth and property abroad, as well as his lack of ties to the United States, as reasons for the decision. Zhao pleaded guilty to one count of Bank Secrecy Act violations and faces up to 18 months in prison.
In other news, the co-founder of Terraform Labs, Do Kwon, may be extradited to the United States. The Montenegrin Minister of Justice plans to grant the U.S. officials’ request for Kwon’s extradition. Kwon was previously arrested in Montenegro and sentenced to four months in prison for using falsified travel documents. He is also facing charges in the U.S. and South Korea for his alleged role in the collapse of Terraform Labs.
The European Parliament and Council negotiators have reached a provisional agreement on the rules governing the use of artificial intelligence (AI) in the European Union. The agreement includes measures such as evaluating and addressing risks, performing adversarial testing, reporting incidents, ensuring cybersecurity, and disclosing energy efficiency. The deal also prohibits cognitive behavioral manipulation, scraping facial images, social scoring, and biometric systems inferring personal details. Consumers would have the right to file complaints and receive explanations.
Kazakhstan’s Financial Monitoring Agency has blocked access to nearly a thousand illegal cryptocurrency exchanges in 2023. The agency also launched investigations into illegal exchange operations and money laundering. Some major international platforms were among the blocked exchanges. The Ministry of Culture and Information previously ordered the blocking of the Coinbase website, accusing it of violating the Digital Assets Law.
A pro-blockchain bill has been unanimously passed by a United States Congress committee. The bill would task the U.S. commerce secretary with promoting blockchain deployment and increasing the country’s use of the technology. It includes the establishment of a Blockchain Deployment Program and government advisory committees to support blockchain adoption.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Middle East |
| Countries | 🇺🇸 🇦🇪 🇲🇪 🇰🇿 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Richard Jones, Gina Raimondo, Andrej Milović, Changpeng Zhao, Do Kwon |
| Companies | Binance, Terraform Labs, Ministry of Culture and Information, Ministry of Digital Development, Blockchain Deployment Program, U.S. commerce secretary, Secretary of Commerce Gina Raimondo, European Parliament, United States Congress, European Commission, Coinbase, Financial Monitoring Agency, federal agency representatives, U.S. House Committee, Council negotiators, blockchain industry stakeholders |
| Currencies | None |
| Securities | None |
