Nowadays, everyone has an opinion on artificial intelligence (AI) and its potential risks. Even Pope Francis — the head of the Catholic Church — warned humanity of AI’s potential dangers and explained what needs to be done to control it. The Pope wants to see an international treaty to regulate AI to ensure it is…
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Ripple has doubled down on its public support for central bank digital currencies (CBDCs) in a new white paper. The 23-page document was released by the blockchain-based digital payments company on Dec. 14, and Ripple explains the basics of CBDCs, their attractiveness, risks and barriers to widespread adoption. The white paper claims CBDCs help expand…
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The President of Brazil, Luis Inácio Lula da Silva, has signed a law introducing taxes on crypto assets held abroad by Brazilian citizens. Lula signed the law on Dec. 12, which was then published the following day in the Diário Oficial da União, or the Official Diary of the Union. The law will come into force from…
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In a consultative document published on Dec. 14, the Basel Committee on Banking Supervision of the Bank for International Settlements (BIS) proposed several measures on targeted adjustment to its standard on banks’ exposure to crypto assets. The document is the result of the review work conducted during 2023, which helped the committee formulate amendments to its original…
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The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), has vigorously promoted its marketing rules for crypto firms since their publication in June. And it’s now found a way to bring them to life as a pixelated Wild West cartoon to enlighten investors. A minute-long animation mimicking the style and sound of a video…
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In 2023, Kazakhstan’s Financial Monitoring Agency (FMA) blocked access to almost a thousand crypto exchanges serving the country’s citizens without proper registration. According to a Dec. 7 press release published on the government’s website, the FMA denied access to 980 illegal platforms in 2023. It also launched nine investigations into “illegal exchange operations” and money…
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The United Kingdom’s Financial Conduct Authority (FCA) has added crypto exchange Poloniex to its warning list of non-authorized companies. The Seychelles-based exchange is one of the three companies owned by or affiliated with entrepreneur Justin Sun that have suffered four hacks in the last two months. The warning to Poloniex was published on the FCA’s…
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A bill defining crypto assets as securities and imposing capital gains tax on them has made it through a Kenyan parliamentary committee. It will be introduced to the lower chamber of parliament next. According to the Kenyan newspaper Business Daily on Dec. 4, the Capital Markets (Amendment) Bill, 2023, has been approved by the National…
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Taiwan’s principal financial regulator, the Financial Supervisory Commission (FSC), is considering allowing crypto exchange-traded funds (ETFs) in the country, but only after analyzing the product’s development in other markets worldwide. At the moment, the FSC considers itself to be “in the exploratory phase.” According to a Dec. 5 report in the Taiwanese newspaper, the Commercial…
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Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared. Source link