Tag: Blocking

US lawmakers advance legislation blocking the digital dollar

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The United States House Financial Services Committee is moving forward with legislation aimed at preventing the issuance of a central bank digital currency.  According to an announcement from chairman Patrick McHenry, the Committee will mark up two bills about a potential digital dollar on Sep. 20. Markups are sessions in which lawmakers discuss the details of a bill. It is a crucial step before a legislation moves to the House floor. One of the bills is the Digital Dollar Pilot Prevention Act, or H.R. 3712, that prohibits the Federal Reserve…

US regulators deny blocking AI chip exports to Middle East

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The United States Department of Commerce said on Aug. 31 that the Biden administration has “not blocked chip sales to the Middle East,” according to a report from Reuters.  This comes after disclosures were revealed in a Nvidia report that the U.S. government had expanded requirements for export licenses for artificial intelligence (AI) chips. Advanced Micro Devices (AMD), a direct competitor of Nvidia, also received a similar letter from regulators. The Department of Commerce did not comment on whether the requirements were imposed on specific U.S. companies. However, the new…

Clumsy User Experiences (UX) Are Why Technology Is Blocking Mass Adoption of Web3

Meanwhile, a flurry of crypto-native and Web2 brands have been making efforts to bridge the gap between Web2 and Web3 audiences to push mass adoption. Chris Jacquemin, head of strategy at talent agency WME that has signed more than 50 Web3 creators, said that when discovering various communities through social media, the “vocal minority within Web3 is literally the foundation of actually establishing credibility.” Source

Italian regulator draws criticism for blocking AI chatbot ChatGPT

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Italy’s ban on conversational artificial intelligence (AI) ChatGPT sparked major controversy among the tech industry as well as in the country. The Italian Deputy Prime Minister Matteo Salvini expressed criticism that the block over privacy concerns seemed excessive.  On Friday, following concerns raised by the national data agency about possible privacy violations and failure to verify the age of users, Microsoft-backed OpenAI took ChatGPT offline in Italy. This action by the independent agency marked the first instance of a Western country taking measures against a chatbot that operates on artificial…

Blur Escalates Royalty Battle With OpenSea, Recommends Blocking Platform

The blog post outlined the various approaches that creators can take to ensure they earn royalties when their projects are listed for resale on Blur. The platform said that because of conflicting rules, artists can’t earn royalties on both OpenSea and Blur simultaneously and that it recommends that creators block their tokens from being listed on OpenSea. Source BattleBlockingBlurEscalatesOpenSeaPlatformRecommendsRoyalty CryptoX Portal

UK Banks Blocking Crypto Access Given Fraud, Volatility, Lawmakers Told

“We’re very supportive of the regulation and the regulators looking at regulation of crypto, our focus will always be about customer outcomes in that context,” said Charlie Nunn, CEO of Lloyds Bank. “I don’t think Lloyds Banking Group will want to be promoting cryptocurrencies, but we do want to make sure that, if our customers choose to put money into cryptocurrencies, it’s as safe as can be.” Source

Ukraine’s Financial Watchdog Reports Blocking Russian Crypto Exchanges – Bitcoin News

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The financial monitoring agency of Ukraine has restricted access to a number of online crypto exchangers operating out of Russia. Some of the coin trading platforms are working with sanctioned Russian banks, the regulatory body announced in a report. Ukrainian Financial Authorities Target Russian Crypto Exchange Websites and Wallets The State Financial Monitoring Service (SFMS), a unit of Ukraine’s financial intelligence, has issued a special report on the results of its operations in 2022. Besides its peacetime activities such as combating money laundering, the agency revealed it has contributed to…

dYdX confirms blocking (and unblocking) some accounts flagged in Tornado Cash controversy

Cryptocurrency derivatives trading platform dYdX said it blocked some users’ accounts with funds linked to Tornado Cash, including mistakenly suspending some that never directly engaged with the controversial mixer. In a Wednesday blog post, dYdX said it had “unbanned certain accounts” that the derivatives platform had blocked in response to the Office of Foreign Assets Control of the United States Treasury Department adding Tornado Cash to its list of Specially Designated Nationals, or SDNs. According to dYdX, its compliance provider flagged many accounts believed to be linked to Tornado Cash,…

New York State Assembly Passes Bill Blocking New Cryto Mines That Use Non-Renewable Power

However, advocates of the bill noted that existing facilities would remain unaffected by the bill, as well as any facilities that tap renewable resources. The bill itself specifies that the New York Department of Energy “shall not approve a new application for or issue a new permit … for an electric generating facility that uses a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric energy consumed or utilized by cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions.” Source