Month: May 2023

Chinese city launches govt-backed metaverse platform

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Nanjing City, the capital of Jiangsu Province in China, on May 22, inaugurated the China Blockchain Technology and Application Innovation Platform. This government-supported platform aims to foster and advance metaverse research and development across the country. The newly established state-backed entity is led by the Nanjing University of Information Science & Technology (NUIST). As per an announcement on NUIST’s official social media account, the platform consists of founding members representing diverse academic institutions and blockchain-related companies throughout mainland China. The objective of this platform is to bring together the resources…

Reports suggest Binance mixed customer and company funds

Binance, the world’s largest cryptocurrency exchange company, finds itself in the spotlight following accusations that it has been mixing customer funds with company revenue, allegedly violating U.S. financial rules. The claims were raised by three independent sources, who disclosed to Reuters that the dubious activities allegedly occurred in 2020 and 2021, involving billions of dollars. One case reported that Binance combined $20 million from a corporate account with $15 million from a customer account on Feb. 10, 2021. The alleged actions prompted three former U.S. regulators to assert that Binance…

Pakistan aims to produce 1 million AI-trained IT graduates by 2027

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Just days after announcing that cryptocurrencies will “never be legalized” in the country, Pakistan’s Ministry of IT & Telecom drafted a policy to spur the growth of artificial intelligence (AI).  With the national AI policy, Pakistan aims to evolve into a knowledge-based economy by upskilling human capital on AI and allied technologies among other investments and initiatives. Draft National AI Policy (https://t.co/pZ516dmP8R)#MOITT believes in an inclusive approach for effective policy making. Please share your feedback through email (feedback.naip@moitt.gov.pk) so that the policy draft is updated in the best interests of…

‘Chinese Ethereum’ Conflux Draws Spotlight as Hong Kong Welcomes Retail Traders

CryptoX – Cryptocurrency Analysis and News Portal Conflux is a speedy and cheap blockchain that claims to be the only regulatory-compliant public blockchain in China. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China and Oreos. Original Source The post ‘Chinese Ethereum’ Conflux Draws Spotlight as Hong Kong Welcomes Retail Traders appeared first on CryptoX. CryptoX Portal

Blizzard and Adobe tap generative AI tools as ‘co-pilots’ for humans

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Generative artificial intelligence tools are being rolled out by tech firms Adobe and Activision Blizzard, though each claimed the AI tools are there to assist humans in creating content and will not replace jobs. On May 23, graphic software giant Adobe launched “Generative Fill” which will allow users to “generate content from inside Photoshop with a text prompt.” Dream bigger with us. ✨ Introducing Generative Fill in the @Photoshop (beta) app – a new magical way to create extraordinary imagery from a simple text prompt, powered by #AdobeFirefly. Learn more:…

AI deepfakes are getting better at spoofing KYC verification: Binance exec

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Deepfake technology used by crypto fraudsters to bypass Know Your Customer (KYC) verification on crypto exchanges such as Binance is only going to get more advanced, Binance’s chief security officer has warned. Deepfakes are made using artificial intelligence tools that use machine learning to create convincing audio, images or videos featuring a person’s likeness. While there are legitimate use cases for the technology, it can also be used for scams and hoaxes. Deep fake AI poses a serious threat to humankind, and it’s no longer just a far-fetched idea. I recently…

Hong Kong set to offer retail crypto trading licenses soon

Hong Kong’s financial regulator is set to roll out a new framework that would allow retail investors to trade crypto assets like BTC and ETH, and will also include measures to protect investors.  New guidelines set to commence in June 2023 The Securities and Futures Commission (SFC) announced the conclusion of consultations regarding the regulation of crypto exchanges and retail participation. The proposed guidelines for cryptocurrency exchanges looking to operate in Hong Kong will be implemented on June 1, 2023.  According to the SFC, 152 respondents ranging from market participants…

OKX may open exchange in France after license application

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a recent move, OKEx, the world’s second-largest cryptocurrency exchange by trading volume, applied for a DASP license in France. OKX would fully comply with the French regulatory framework once it obtains the DASP license and registers with the Autorité des Marchés Financiers (AMF). OKX will be able to provide its portfolio of services to local consumers if it obtains the license. 🇫🇷 We’re thrilled to announce that #OKX has chosen France as our European hub…

Bitget joins Binance in obtaining regulatory approval in Poland

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitget, a cryptocurrency exchange, successfully obtained a regulatory license to operate in Poland. The new approval enables Bitget to expand its operations in the European Union (E.U.) region but also ensures adherence to local and international laws. The future is regulation In a tweet sent out on May 23, 2023, Bitget announced it has secured virtual asset service provider (VASP) registration in Poland, joining the major exchange, Binance, which registered in January. In accordance with Polish…