Flash News

TREE NEWS update: The EU has classified ChatGPT as a very large online search engine and Reddit and Roblox as very large online platforms under the Digital Services Act. This designation subjects them to stricter obligations regarding content moderation, transparency, and risk management.

TREE NEWS update: Polymarket’s head of intelligence says the platform is prepared to handle potential rule violations during the midterm elections. This comes as prediction markets gain attention for political event trading.

TREE NEWS reports: Kalshi has reportedly signed an exclusive deal with the USTA to be the official prediction market partner of the US Open, blocking rival platforms from advertising at the venue and on ESPN. The agreement was finalized days before the main draw, marking a significant mainstream sports partnership for the prediction market platform.

TREE NEWS update: The US government is selling Anthropic shares owned by two key allies of Sam Bankman-Fried, potentially worth billions of dollars. This move follows the conviction of SBF and aims to recover assets linked to the FTX fraud.

TREE NEWS update: South Korea’s National Tax Service (NTS) plans to deploy a commercial tracking program to address tax evasion on virtual assets held in personal wallets. The move aims to close loopholes in the taxation of cryptocurrency gains, ensuring better compliance.

TREE NEWS update: Russia’s largest bank forecasts that crypto trading volume could reach $46 billion in the first year under new regulations. This prediction highlights the potential growth of the crypto market in Russia following regulatory clarity.

TREE NEWS update: Bank of England Governor Andrew Bailey warned that AI could pose systemic risks to the financial system, potentially triggering a financial crisis. He emphasized the need for robust regulatory oversight to mitigate these risks.

TREE NEWS reports: Russia’s compliant cryptocurrency trading is projected to reach $46.43 billion in its first year, according to a report. This marks a significant step as the country formalizes its crypto market, potentially impacting global digital asset flows.

TREE NEWS reports: Lu Lei, Deputy Governor of the People’s Bank of China, emphasized that the liability boundaries for intelligent agent payments cannot be blurred and announced plans to release a self-regulatory convention. This move aims to clarify responsibilities in AI-driven financial transactions, ensuring consumer protection and market stability.

TREE NEWS reports: Sony Music and Warner Music have filed a lawsuit against AI company Anthropic, alleging that it used copyrighted music to train its Claude model without permission. The case highlights the growing tension between the music industry and AI developers over intellectual property.

TREE NEWS reports: A former White House teleprompter operator was fined $172,000 for insider trading in prediction markets, highlighting regulatory scrutiny in this emerging sector. The case underscores the legal risks associated with trading on non-public information in crypto-related markets.

TREE NEWS update: Gabriel Perez, a former White House teleprompter operator, was fined by the CFTC for insider trading in prediction market contracts, using his access to Trump’s speeches to profit over $107,500. This marks a notable enforcement action in the emerging prediction market space.

TREE NEWS reports: The UK’s first crypto tax report shows 240 individuals declared £717 million in capital gains from crypto assets. This marks a significant data point for cryptocurrency taxation in the UK, highlighting the scale of realized gains among a small group of taxpayers.

TREE NEWS update: Chainalysis has filed a lawsuit against U.S. Immigration and Customs Enforcement (ICE) over the agency’s decision to award a $94.6 million blockchain analysis contract exclusively to rival TRM Labs. The suit alleges the procurement process was flawed and unfair, potentially impacting the competitive landscape of the crypto compliance sector.

TREE NEWS update: The US Senate will hold a procedural vote on the CLARITY Act, a bill aimed at clarifying the regulatory framework for digital assets. This move could significantly impact the crypto industry by providing clearer guidelines. The outcome is closely watched by market participants.

TREE NEWS update: Over 100 AI, security, finance, and tech organizations are calling on governments and industry to bolster cyber defenses against attacks using increasingly capable AI models. The appeal follows incidents where AI models hacked real companies, highlighting urgent need for preparedness.

TREE NEWS update: Changpeng Zhao (CZ), former CEO of Binance, said that if he were to rebuild a global exchange, he would avoid serving US users. He suggested that the US market is not essential for a global crypto exchange’s success.