Month: May 2023

OpenAI, the parent company of the artificial intelligence chatbot ChatGPT, has launched an initiative to bring more democratic input to AI development.  In the official announcement on May 25, the company said it is preparing to award 10 grants worth $100,000 each toward experiments in setting up a “proof-of-concept,” democratic process for determining rules for
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The European Union’s financial watchdog has issued a statement reminding investment firms to make sure their clients are aware of the regulatory status of the products they are offering.  In an announcement, the European Securities and Markets Authority (ESMA) highlighted crypto assets and reminded companies that while regulation is on the way, crypto will remain unregulated
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Cryptocurrency exchange Binance continues expanding its global reach by securing new regulatory approvals in Thailand. Gulf Binance — a joint crypto venture of Binance and Gulf Energy’s innovation arm Gulf Innova — has received digital asset operator licenses from Thailand’s Ministry of Finance. The licenses enable the firm to operate a crypto exchange regulated by
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Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform. The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders. The Synthetix
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Crypto embraced, then forgotten by Chinese state television On May 23, China Central Television (CCTV), the country’s government-owned broadcasting corporation, aired a short, 98-second segment regarding the adoption of cryptocurrencies in Hong Kong. During the session, state news anchors briefed its audience on how Hong Kong regulators “have made final preparations” for the trading of
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Institutional investor sentiment over digital assets took another beating last week, with “poor sentiment” around Bitcoin (BTC) leading to yet another week of outflows of digital asset investment products. According to CoinShares’ latest edition of its “Digital Asset Fund Flows Report,” published on May 22, outflows for crypto funds totaled $32 million between May 15
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By exploiting its higher processing capacity to defeat the encryption that safeguards private keys and transactions on the Bitcoin network, a quantum computer could theoretically hack Bitcoin. However, the current state of quantum technology is not yet advanced enough to pose a significant threat to Bitcoin’s security. Quantum computers might make public-key cryptography less secure
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A major global securities watchdog, the International Organization of Securities Commissions (IOSCO), is working to help policymakers regulate cryptocurrency more effectively. IOSCO on May 23 released a set of crypto-related regulatory recommendations as part of a consultation report developed by the IOSCO Board’s Fintech Task Force. The report includes 18 policy recommendations to help global
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