According to Reuter, the U.S. Securities and Exchange Commission is seeking fines and penalties totaling $2 billion in its case against Ripple Labs over sales of the cryptocurrency XRP, the company's chief legal officer said in a social media post. The company's Chief Legal Officer Stuart Alderoty said the regulator has...
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US sanctions 13 Russian companies and two persons for offering crypto services used to evade sanctions on Russia.
The U.S. has sanctions on 13 Russia-linked fintech companies and two individuals for offering cryptocurrency services used to evade economic restrictions imposed on Russia following its invasion of Ukraine. The U.S. Treasury Department's new sanctions relate to Russian companies designated by...
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Nvidia’s new H20 semiconductor chips and China’s plans for using them for artificial intelligence
Nvidia's H20 semiconductor chip is its most powerful chip that it is selling to China. The company is taking pre-orders for a Nvidia chip specifically designed for artificial intelligence. The H20 does not deliver as much power as Nvidia's new H100 and the H800 which is banned for sales to China. Some...
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U.S. warns China that armed attack against Philippine vessels will trigger US involvement
Antony J. Blinken. the U.S. Secretary of state warned China that an āarmedā attack against Philippine vessels in the South China Sea would engage the mutual self-defense pact between Washington and Manila, resulting in the United States involvement, according to news reports.
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US investment in semiconductor chip development compared to China
The CHIPS and Science Act was signed into law in August 2022, and calls for investment of $53 billion into semiconductor manufacturing and research around the United States. This will include grants, cooperative agreements, loans and major 25% tax credits for capital investments in semiconductor manufacturing....
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Nividia unveils Blackwell B200 GPU ‘the world’s most powerful chip’ for Artificial Intelligence
Nvidia has created a new chip called B200 GPU which offers up to 20 petaflops of FP4 horsepower from a 208 billion transistor platform. According to published reports, Nvidia's CEO said each GPU might cost between $30,000-$40,000. Key improvements to the engine doubles the compute, bandwidth and mode size. Nvidia says...
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Genesis Global Capital LLC to pay $21 million penalty from SEC for sale of unregistered securities through crypto asset lending program
The Securities and Exchange Commission announced that Genesis Global Capital, LLC agreed to a final judgment ordering it to pay a $21 million civil penalty and imposing a permanent injunction to settle charges that it engaged in the unregistered offer and sale of securities through a crypto...
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SEC charges investment advisers for false statements about their use of artificial intelligence
The Securities and Exchange Commission settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI). The firms agreed to settle the SECās charges and pay $400,000 in total civil...
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Department of Justice announces new whistleblower program to reveal large corporate or financial misconduct
The new program will reward an individual who āhelps DOJ discovery significant corporate or financial misconductāotherwise unknown to [DOJ]ā by allowing them to qualify to receive a portion of the forfeiture award resulting from an enforcement action.
This new program will focus on ;
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U.S. Treasury probes why U.S. American Club insures ships carrying Iranian oil
Representative Zach Nunn of Iowa, a member of the House Financial services Committee has issued a letter inquiring about American Club, which has apparently insured many vessels suspected to have Iranian links. According to a Bloomberg article, American Club insures more tankers suspected of violating US sanctions than any of its allies....
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