Tag: Italys

First of many? How Italy’s ChatGPT ban could trigger a wave of AI regulation

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Italy has recently made headlines by becoming the first Western country to ban the popular artificial intelligence (AI)-powered chatbot ChatGPT. The Italian Data Protection Authority (IDPA) ordered OpenAI, the United States-based company behind ChatGPT, to stop processing Italian users’ data until it complies with the General Data Protection Regulation (GDPR), the European Union’s user privacy law. The IDPA cited concerns about a data breach that exposed user conversations and payment information, the lack of transparency, and the legal basis for collecting and using personal data to train the chatbot. The…

Italy’s Data Watchdog Seeks More Transparency of ChatGPT’s OpenAI to Lift Ban

Italy’s data protection agency Garanate has set out multiple conditions for OpenAI to implement and comply with the GDPR rules. In March 2023, the European Nation of Italy announced a ban on OpenAI’s newly released told ChatGPT, which has created a storm in the tech world. This happened on the charges of breaching data privacy rules in Italy. In the latest development, Italy’s data protection agency Garanate suggested certain actions that OpenAI must take in order to revoke the imposed ban. Earlier this month, the Italian watchdog suspected that the…

Italy’s AC Milan Launches NFT Game With MonkeyLeague

AC Milan is the first football club to partner with MonkeyLeague. “We are thrilled to kick off this partnership with MonkeyLeague, a collaboration that allows us to strengthen our positioning in the field of digital innovation,” Casper Stylsvig, chief revenue officer of AC Milan, said in a press release. Source

Italy’s Top News Agency Uses Blockchain to Fight Fake Coronavirus News

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Amid the global pandemic crisis, the importance of ensuring trusted information is getting more crucial as fake coronavirus news poses a direct threat to life and health of people worldwide. While some global jurisdictions are imposing fines and imprisonment for spreading false coronavirus information, a major news agency in Italy is hoping to stop fake news by implementing blockchain technology. All the news that’s fit to hash ANSA, Italy’s main news agency and an international publication owned by 24 national newspapers, has launched a news tracking system based on blockchain…

Italy’s Coronavirus Crisis Plunges Broken Economy Into Recession Spiral

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A recession hit Italy in 2018 after the country saw a 0.2% quarterly drop in economic growth. It is at risk of a greater recession due to the coronavirus outbreak. The local manufacturing sector is en route to see 18th consecutive negative month. Italy entered a recession in the last quarter of 2018, with a 0.2% drop in the economy. As it started to recover, the coronavirus epidemic hit the nation, leading finance ministers in Europe to warn a plunge in the markets in the coming months. The eurozone has…

Italy’s Securities Regulator Shuts Down 8 Crypto Trading and Foreign Exchange Sites

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Italy’s securities regulator has shut down six foreign exchange websites and two crypto investing and derivative trading sites.  According to Finance Magnates’ Feb. 10 report, the Commissione Nazionale per le Società e la Borsa (CONSOB) has accused these 8 FX sites of violating the Mifid2 and the Consolidated Law on Finance (TUF) for providing illegal trading products and services.  Crypto regulation in Italy Aiming to protect investors, the Italian authorities have set out to establish cryptocurrency regulation domestically. A 2016 ministerial resolution implemented a European Court of Justice decision. It…

Ex Italy’s Economy Minister on ‘Transition From Old Coins to New Coins’

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During the Code4Future conference, the first event in Italy dedicated to the concept of open innovation held at the Talent Garden in Rome, the former Minister of Economy and Finance Giulio Tremonti — currently president of Aspen Institute Italia — expressed his thoughts regarding the future of digital payments and the advent of cryptocurrencies. On Nov. 8, the first day of the Code4Future event, Tremonti took part in a round table discussion, during which he said the opportunities offered by the fintech sector were changing both business logic and the…

Italy’s Banks to Use Blockchain to Boost Settlements and Improve Transparency

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Italian banks will deploy blockchain technology to run reconciliations starting in March 2020, financial technology news outlet Finextra reported on June 18. The Italian Banking Association (ABI) has announced that Italy’s banks will integrate distributed ledger technology (DLT) into internal processes to boost settlements. The deployment of blockchain is also set to improve transparency in transactions between banks and efficiency of communication between counterparties. The initiative comes as part of a program managed by ABI Lab dubbed Spunta Project, a blockchain interbank solution based on blockchain consortium R3’s open-source distributed…

Bitcoin (BTC) On A Roll, Bulls Ecstatic After Italy’s New Tax Proposal

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Bitcoin (BTC) expands, up 7.4 percent Capital flight from Italy could end up in Bitcoin By zeroing in and targeting personal saving accounts, Matteo Salvini, the Deputy Prime Minister of Italy, is inadvertently advertising Bitcoin. Resilient and thriving with an unpopular decision, BTC bulls are back. Ending the week strongly, prices are up 7.4 percent from last week’s close. Bitcoin Price Analysis Fundamentals Generally, Bitcoin is a machine, a juggernaut whose benefits is enough to promote the first successful digital asset. Withstanding the test of time, shaking off critics-and governments…

Italy’s Terrifying Currency Scheme is Insanely Bullish for Bitcoin

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By CCN Markets: The Italian government is mulling the decision to issue a “parallel currency” in a move that could plunge the eurozone into crisis – and provide the best case yet for mass bitcoin adoption. In the same week, the Italian deputy prime minister proposed a tax grab on cash and valuables stored in safety deposit boxes. These crisis policies expose deep cracks in the fiat monetary system. The move prompted money historian Rebecca L. Spang to call for a new foundation of money. “The time has come for…