Month: July 2024

Open Source Tools Levels Playing Field for Smaller AI Firms Says Decentralized AI Proponent

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To preempt lawsuits and counter allegations that they are training their respective artificial intelligence (AI) models with illegally obtained data, AI firms should rely on publicly available or open-source data, according to Alberto Fernandez. Fernandez, a proponent of decentralized AI and also the European representative of Qubic Ecosystem, emphasizes that AI firms should consider anonymizing … Read more

BlockDAG’s 40% Uptick Driven by Documentary Amidst ARB & XRP Price Predictions

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Layer 1 BlockDAG’s Documentary Sparks Investor Rush and a 40% Surge Prediction in ARB & XRP Markets! The cryptocurrency sector thrives on promising projections and crucial advancements. The latest Arbitrum (ARB) predictions show a cautiously optimistic view despite market uncertainties. Simultaneously, Ripple’s (XRP) value is expected to soar during its ongoing market upturn, as excitement … Read more

Three-Quarters of Jurisdictions Partially or Not Compliant with VASP Sector Recommendation, Says FATF

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Three-quarters of the jurisdictions surveyed by the Financial Action Task Force (FATF) “are only partially or not compliant” with the anti-money laundering recommendation for the virtual assets sector. According to the latest FATF update, 60% (88 jurisdictions) have decided to permit virtual asset service providers (VASPs), while 14% (20 jurisdictions) explicitly prohibit them. The FATF … Read more

Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%

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Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the controlling stake. The exchange needs to offload the stake well before the August 11 deadline for reporting … Read more

DBS Digital Exchange Sees 3-Fold Surge in Trading Value — Custodied Crypto up 80%

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DBS, a leading financial services group in Asia, reports a significant increase in the trading value of digital payment tokens on its digital exchange for the first five months of this year. The surge reflects growing institutional interest in digital assets as part of alternative portfolios. “We are studying listing stablecoins on our exchange and … Read more

China and Kazakhstan Sign CBDC Collaboration Agreement

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The People’s Bank of China and the National Bank of Kazakhstan have signed an agreement to collaborate on central bank digital currencies (CBDCs). This collaboration agreement, formalized during President Xi Jinping’s visit to Kazakhstan, aims to enhance CBDC research through joint initiatives and professional development. China and Kazakhstan to Collaborate on Central Bank Digital Currencies … Read more

Federal Agencies Join Forces to Fight Crypto Scams

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Several federal agencies, including the Federal Bureau of Investigation (FBI) and the U.S. Securities and Exchange Commission (SEC), convened at a Fraud Disruption Conference to combat crypto scams, particularly the “pig butchering” fraud that siphons billions from Americans annually. The meeting brought together over 300 officials from 15 federal agencies to strategize against this pervasive … Read more

Crypto Exchange Bitmex Pleads Guilty to Violating Bank Secrecy Act, AML Failures

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Crypto exchange Bitmex has pleaded guilty to violating the Bank Secrecy Act (BSA) by failing to maintain an adequate anti-money laundering (AML) program, resulting in the company being a vehicle for large-scale money laundering. The DOJ announced this plea following previous legal actions and settlements. Bitmex says: “We have accepted the BSA charge, will seek … Read more

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