France's privacy watchdog, CNIL, has expressed concerns over the legality of Worldcoin's biometric data collection. The CNIL has initiated investigations into the matter after Worldcoin collected data in France. The watchdog has revealed that the Bavarian state authority in Germany has jurisdiction and is conducting investigations with support from the CNIL. Worldcoin's iris-scanning device was seen at a sign-up site in Shoreditch, East London in 2023.
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French watchdog investigates legality of Worldcoin's biometric data collection
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Singapore police investigate Worldcoin account transactions, arrest five people
On September 10th, Singapore's Deputy Prime Minister Heng Swee Keat announced that Singaporean police are investigating seven individuals suspected of providing Worldcoin account and token trading services. This investigation involves possible violations of the Payment Services Act of 2019, and the police have arrested five people. -
CFTC: Uniswap Labs has actively cooperated with the investigation and only needs to pay a fine of US$175,000
The CFTC has filed a lawsuit against Uniswap Labs and reached a settlement. It was found that Uniswap Labs illegally provided leveraged or margined retail commodity transactions of digital assets through a decentralized digital asset trading protocol. Uniswap Labs was required to pay a civil penalty of $175,000 and cease violations of the Commodity Exchange Act (CEA). The CFTC acknowledged that Uniswap Labs actively cooperated with law enforcement agencies in the investigation and reduced the civil penalty. -
The probability of the Fed cutting interest rates by 25 basis points in September is 55%.
The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 55.0%, while the probability of a 50 basis point cut is 45.0%. The probability of the Federal Reserve cutting interest rates by a cumulative 50 basis points by November is 32.1%, by 75 basis points is 49.2%, and by 100 basis points is 18.8%. -
US SEC again postpones decision on environmentally friendly Bitcoin ETF listing application
The US Securities and Exchange Commission (SEC) has once again postponed its final decision on the New York Stock Exchange (NYSE) Arca's application for a carbon offset Bitcoin ETF. According to a document dated September 4th, the decision has been extended to November 21st. The ETF aims to provide a Bitcoin investment exposure in an environmentally friendly way by offsetting carbon emissions, tracking an investment portfolio composed of 80% Bitcoin and 20% carbon credit futures. Tidal Investments submitted the fund registration application in December 2023, while NYSE Arca submitted the initial application in March. Concerns have been raised about the environmental impact of Bitcoin mining, with the International Monetary Fund (IMF) reporting that cryptocurrency mining accounts for 1% of global greenhouse gas emissions. The delay in this decision also includes the postponement of approval for the Nasdaq One-Stop Cryptocurrency Investment Portfolio ETF. -
Japanese regulator calls for lower cryptocurrency tax rates by 2025
On September 4th, it was announced that Japan's financial regulatory agency has released a comprehensive tax reform plan for the fiscal year 2025, which includes regulations on cryptocurrency to lower its tax rate. -
Japan's Financial Services Agency releases tax reform requirements for fiscal year 2025, mentioning virtual currency transactions for the first time
The Japanese Ministry of Finance has released tax reform requirements for the fiscal year 2025, which includes regulations related to cryptocurrency (virtual currency). The "Asset Income Doubling Plan and the Realization of National Asset Management" section of the reform plan mentions for the first time the issue of tax treatment for cryptocurrency transactions, discussing whether virtual currency should be treated as financial assets. -
U.S. House Committee Plans Series of Crypto Hearings in September
The House Financial Services Committee is expected to discuss issues such as DeFi, US law enforcement, and "pig slaughtering" at a series of hearings next month. -
Russia warns France not to take political action in Telegram CEO case
Russia has warned France not to take political action in the Telegram CEO case, and that charging Telegram CEO Pavel Durov with criminal charges may be viewed as "political persecution". Durov is a French citizen born in Russia and was detained in Paris for allegedly failing to control illegal content on the platform. He was released on bail but must remain in France and regularly report to the police. Kremlin spokesman Dmitry Peskov emphasized that Russian officials support Durov, who has Russian citizenship and is willing to provide assistance. -
U.S. Democratic Congressman Wiley Nickel accuses SEC of "blatant abuse of power" in crypto enforcement
US Democratic congressman Wiley Nickel has strongly criticized the US SEC, accusing the agency of undermining trust in the regulatory system due to its "enforcement supervision" approach. In a recent social media post, Nickel called the SEC's actions "blatant abuse of power" and could stifle digital innovation across the United States. He also added, "The SEC should choose to work with Congress to develop clear, fair regulatory rules through collaborative and transparent processes, including public opinion." He emphasized that only through such cooperation can a balanced regulatory framework be established to protect consumers and support rather than hinder the continued innovation of digital technology.
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