The European Union has been actively preparing for what it envisions as the future of money. Over the last year, it finalized its landmark comprehensive crypto legislation, the Markets in Crypto-Assets regulation (MiCA), which is due to take effect in 2024, after closing its second consultation in October. It has also made progress in its plan…
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The German bank Commerzbank has been granted a crypto custody license by local regulators, according to an announcement released by the lender on Nov. 15. Commerzbank says it is the first “full-service” German bank to be granted this license in the country under the legal framework of the German Banking Act (KWG). This allows it…
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The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences. It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the…
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The Chinese artificial intelligence (AI) chip market has been subject to ongoing export restrictions imposed by the United States in October 2022, which prohibited the sale of certain U.S. products to China. The U.S. initially blocked the export of the highest level of chips produced by companies like Nvidia and AMD. Under the initial October controls, the…
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United States President Joe Biden issued a lengthy executive order on Oct. 30, which intends to protect citizens, government agencies and companies by ensuring artificial intelligence (AI) safety standards. The order established six new standards for AI safety and security, along with intentions for ethical AI usage within government agencies. Biden said the order aligns with the government’s…
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The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China. U.K. Prime Minister Rishi Sunak is hosting the event, which is taking…
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A coalition of major social media platforms, artificial intelligence (AI) developers, governments and non-governmental organizations (NGOs) have issued a joint statement pledging to combat abusive content generated by AI. On Oct. 30, the United Kingdom issued the policy statement, which includes 27 signatories, including the governments of the United States, Australia, Korea, Germany and Italy,…
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The administration of United States President Joe Biden released an executive order on Oct. 30 establishing new standards for artificial intelligence (AI) safety and security. Biden’s address said it is building off previous actions taken, including AI safety commitments from 15 leading companies in the industry. The new standards have six primary touch points for…
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The Group of Seven (G7) industrial countries are scheduled to agree upon an artificial intelligence (AI) code of conduct for developers on Oct. 30, according to a report by Reuters. According to the report, the code has 11 points that aim to promote “safe, secure, and trustworthy AI worldwide” and help “seize” the benefits of…
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Greek Prime Minister Kryiakos Mitsotakis announced the establishment of an advisory committee to create a national strategy for artificial intelligence (AI) in Greece on Oct. 19. The Greek government said the “exponential pace” of AI development has created the necessity for an advisory committee under the country’s prime minister. The object of the committee is…
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