Day: May 16, 2023

SEC seeks denial of Coinbase petition for imminent crypto rules

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The U.S. The Securities Exchange Commission (SEC) has finally given a formal response in court in relation to Coinbase’s petition for clear crypto regulation, stating that any rulemaking may take years and that enforcement actions will continue in the meantime. According to court documents filed on May 15, the SEC argued that it is under no obligation to meet the requirements of Coinbase outlined in its petition, while also arguing that the firm has called for a complex set of reforms and rule-making in an unreasonably short amount of time.…

SEC chair Gensler claps back at Coinbase, says crypto rules already exist

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The chair of the United States Securities and Exchange Commission (SEC) Gary Gensler has hit back at Coinbase’s petition compelling the agency to provide a clear stance on crypto regulation, arguing that there are already adequate laws in place. In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about the dispute with Coinbase, the rules on crypto and why “the SEC doesn’t publish rules for that market.” In response, Gensler staunchly asserted that “the rules have already been published,” adding that: “To make it quite…

US Senators Reintroduce ‘Accountability for Cryptocurrency in El Salvador (ACES) Act’ – News Bitcoin News

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U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in El Salvador and how this might affect the financial stability of the country. ‘Accountability for Cryptocurrency in El Salvador (ACES) Act’ Reintroduced in U.S. Senate U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” also known as…

US Secret Service holds crypto, praises blockchain tech in Reddit AMA

The United States Secret Service owns crypto, has its own NFT collection, and has praised blockchain technology’s ability to fight financial crime, Reddit users learned during a recent ask-me-anything (AMA). On May 15, representatives from the United States Secret Service San Francisco Field Office and the Bay Area Regional Enforcement Allied Computer Team (REACT) opened themselves to questioning from members of the subreddit, r/cryptocurrency. While some regulators still see crypto as a tool for fraudsters and scammers, the REACT task force applauded the public and transparent nature of blockchains as…

ChatGPT creator OpenAI is releasing an open-source AI model: Report

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An open-source artificial intelligence (AI) model is reportedly being prepared for public release by OpenAI, the firm behind the AI chatbot ChatGPT. In a May 16 report in The Information citing a person with knowledge of the plan, OpenAI is undertaking the move as pressure mounts from competing open-sourced AI models, such as those leaked from Meta in February. The timeline of when the model would be released was not reported. If OpenAI release a truly open-source model it would send progress stratospheric — Alex MacCaw (@maccaw) May 15, 2023…

OpenAI preps release of open source AI model: Report

An open-source artificial intelligence (AI) model is reportedly being prepared for public release by OpenAI, the firm behind the AI chatbot ChatGPT. In a May 16 report in The Information citing a person with knowledge of the plan, OpenAI is undertaking the move as pressure mounts from competing open-sourced AI models, such as those from Meta released in February. The timeline of when the model would be released was not reported. If OpenAI release a truly open-source model it would send progress stratospheric — Alex MacCaw (@maccaw) May 15, 2023…

Bitcoin $BTC, Ether $ETH Prices Stuck in ‘Wind Tunnel’

Bitcoin (BTC) was trading over $27,000, recovering some lost ground after its plunge last week. This came as crypto exchange Binance announced that it would cease operations in Canada, citing the challenging regulatory environment. Dunleavy Investment Research crypto strategist Tom Dunleavy shared his markets analysis. Separately, EY Global blockchain leader Paul Brody discussed the professional services giant starting an Ethereum-based platform for enterprises to track their carbon emissions and carbon credit traceability. Christoph Jentzsch, corpus.ventures CEO and Slock.it founder, also joined the conversation. Source