Tag: Issues

BIS issues comprehensive paper on offline CBDC payments

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The Bank for International Settlements (BIS) is actively exploring opportunities for offline payments involving a central bank digital currency, or CBDC. On May 11, the BIS Innovation Hub Nordic Centre published a comprehensive handbook exploring how CBDCs could work for offline payments. The guide is written in collaboration with technical consultancy Consult Hyperion, addressing objectives for resilience, cash resemblance, accessibility and other offline CBDC features. Offline payments and ledger systems. Source: BIS Titled “Project Polaris,” the paper highlights new potential risks stemming from offline payments with CBDCs, including counterfeit or…

Binance Announces Lightning Network Withdrawal Implementation Amidst Bitcoin Network Congestion Issues – Exchanges Bitcoin News

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Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees. Binance Announces It Is Working on Implementing Lightning Network Withdrawals Leading cryptocurrency exchange Binance has recently announced it is working to integrate Lightning Network, a bitcoin-based scaling solution, into its platform. The exchange made the…

China issues first arrest over fake news created with ChatGPT: Report

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A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories.  According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train crash was discovered on April 18 by law enforcement agents. Hong’s arrest for “using artificial intelligence technology to concoct false and untrue information” came after cybersecurity specialists discovered at least 20 accounts had simultaneously posted the fake news article…

SEC issues record whistleblower award of $279M

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The U.S. Securities and Exchange Commission (SEC) has issued its largest-ever whistleblower award totaling $279 million. The SEC generally issues awards ranging between 10% to 30% of collected monetary sanctions that are larger than $1 million. To receive such an award, the whistleblower needs to have provided information that directly assists the SEC in successfully imposing enforcement actions on a particular case. In a May 5 statement, the SEC noted that the $279 million awarded to the unnamed whistleblower was more than double the previous record of $114 million from…

RFK Jr. Raises Crypto Mining Tax, Regulations as Issues in Opening Days of 2024 U.S. Presidential Race

CryptoX – Cryptocurrency Analysis and News Portal Kennedy, an environmental lawyer who is the nephew of former President John F. Kennedy and son of former U.S. attorney general and senator, Robert F. Kennedy, has raised several points about the digital assets industry in the early days of a 2024 presidential contest that hasn’t yet begun in earnest. Source The post RFK Jr. Raises Crypto Mining Tax, Regulations as Issues in Opening Days of 2024 U.S. Presidential Race appeared first on CryptoX. CryptoX Portal

Justin Sun issues apology after Sui LaunchPool clashes with Binance CEO

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On May 1, Binance CEO Changpeng “CZ” Zhao issued a warning to Tron founder Justin Sun regarding a deposit of 56.1 million TrueUSD (TUSD) to Binance. The Binance executive wrote:  “Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will ‘take action against it’. SMH. Binance LaunchPool are meant as air drops for our retail users, not just for a few whales.” In response, Sun said that Tron DAO’s primary objective in depositing TrueUSD “is to facilitate market-making between leading TUSD exchanges.”…

Web3 Can Be “the Trust Layer” to Counter Issues Raised by AI

“Let’s say if we move from phones to glasses, then everything in my earshot becomes ‘real estate,’ and that’s a pretty scary thought,” she continued, adding: “That’s where I think that web3 layer can help enable trust and know that I’m seeing something that is the right thing or the thing that belongs to someone specifically.” Original Source CounterIssuesLayerRaisedTrustWeb3 CryptoX Portal

Web3 Can Be ‘the Trust Layer’ to Counter Issues Raised by AI

“Let’s say if we move from phones to glasses, then everything in my earshot becomes ‘real estate,’ and that’s a pretty scary thought,” she said. She added, “That’s where I think that Web3 layer can help enable trust and know that I’m seeing something that is the right thing or the thing that belongs to someone specifically.” Source