HK Regulator Warns: Unlicensed Virtual Asset Trading Faces Fines, Jail

• ARK Invest’s Cathie Wood expects the SEC to delay its decision on Bitcoin ETFs, but predicts multiple approvals afterwards.
• Tim Cook says AI and machine learning are part of ‘virtually every product’ Apple is building.
• Hong Kong Securities Regulator warns unlicensed virtual asset trading platforms may face steep fines and imprisonment.

ARK Invest CEO Predicts Multiple Bitcoin ETF Approvals

ARK Invest CEO and CIO Cathie Wood said on Aug. 7 that the U.S. Securities and Exchange Commission could approve multiple Bitcoin spot ETFs at once but will likely not do so by an upcoming deadline. Wood stated during an interview with Bloomberg: “I think the [U.S. Securities and Exchange Commission], if it’s going to approve a Bitcoin ETF, will approve more than one at once….most of these essentially will be the same, and it will come down to marketing [and] communicating the message.“

Tim Cook Highlights AI & Machine Learning In Apple Products

Apple CEO Tim Cook has highlighted that Artificial Intelligence (AI) and Machine Learning are part of “virtually every product” his company is building in remarks made this week at an event in France. Cook noted that Apple had positioned itself as an ethical leader in technology, particularly around privacy-focused products like its recent Find My feature which allows users to locate their devices even when offline using Bluetooth Low Energy (BLE). The executive also outlined his belief that technology should not be used solely for profit or to exploit data from users without their consent, emphasizing that he felt tech companies needed to embrace a moral code when developing new products and services..

Hong Kong Warns Unlicensed Virtual Asset Trading Platforms

The Hong Kong securities regulator has warned unlicensed virtual asset trading platforms they may face steep fines or imprisonment if they continue operating without permission from the authorities in the city-state. The warning was issued by SFC chairman Carlson Tong Ka-Shing who said there have been numerous complaints about illegal activities taking place on unregulated trading platforms such as money laundering or other financial crimes. The regulator also pointed out that any platform found violating securities law would be subject to investigation and prosecution accordingly..

Curve Attacker Returns Stolen Funds After Bounty Issued

The attacker behind a $25 million theft from protocol Curve Finance has begun returning funds after a bounty was offered for information leading to their arrest or recovery of stolen funds. The hacker responsible for stealing nearly $25 million worth of cryptocurrency from Curve Finance earlier this week has started returning funds after receiving a bounty offered by White Hat Group—a team of security researchers who specialize in recovering stolen digital assets—for information leading to their arrest or recovery of stolen funds..

New York Probing Digital Currency Group Over Genesis Global Capital

New York Attorney General Letitia James is reportedly probing Digital Currency Group (DCG) over its involvement with Genesis Global Capital, according to sources familiar with the matter who spoke with CoinDesk on condition of anonymity Thursday night (Aug 6). DCG is a venture capital firm focused exclusively on blockchain investments while Genesis Global Capital is a crypto lending service operated by DCG’s subsidiary Grayscale Investments LLC., which recently filed documents with FinCEN revealing its customer base had grown significantly amid 2020’s DeFi boom..