Report Archives

Google ChatGPT rival AI faces in-house resistance: Report

April 10, 2023

Artificial intelligence (AI) has become a major talking point after the rise to prominence of AI chatbot ChatGPT from OpenAI and generative AI image makers like Midjourney and DALL-E 2. However, not everyone sees eye to eye with this emerging technology. A new report from the New York Times revealed that in March two Google employees tried to stop the company from launching its own AI chatbot rivaling that of OpenAI. According to the NYT report, the jobs of the employees are specifically to review Google’s AI products. Allegedly the…

Bank of England Targets 30-Strong Team for Digital Currency: Report

April 9, 2023

“A team of 30 seems like quite a significant resource to focus on the digital pound,” said Ian Taylor, a board adviser for trade association CryptoUK, according to the newspaper. “It shows the impact it would have, and that the Bank are serious about it.” Source

Binance.US unable to find bank partners in the United States: Report

April 8, 2023 boss

The United States arm of global crypto exchange Binance has been facing challenges in establishing a new bank partner to serve as a fiat on-ramp and off-ramps for its clients in the country, according to a Wall Street Journal report on April 8. The recent failures of Silvergate and Signature Bank left Binance.US without banking services, depending on middleman’s banks to store funds on its behalf, according to the WSJ, citing “people familiar with the matter”. The regulatory crackdown on banks with crypto clients is also another factor contributing to…

Over 99% of crypto investors don’t report taxes, report indicates

April 8, 2023

As the cryptocurrency market continues to grow, tax authorities worldwide face mounting challenges in ensuring compliance. A recent study by Divly, a crypto-tax platform, reveals that a mere 0.53% of cryptocurrency investors globally declared their crypto activities to local tax authorities in 2022. STUDY: Divly, a tax preparation service in Sweden, conducted a survey which found that only 0.53% of global crypto holders pay taxes on digital assets. Finland had the highest percentage of taxpayers at about 4%. — Coingraph | News (@CoingraphNews) April 7, 2023 This article delves into…

Bitcoin leads crypto market recovery as regulators turn up heat: Report

April 7, 2023 boss

March has been a turbulent month for the crypto industry. Bitcoin (BTC) recorded its highest weekly close in 10 months and raised hopes among many that the bear market is over. One of the key drivers of this expectation was a series of banking collapses in the United States. This made investors hope for falling interest rates later this year, despite Federal Reserve Chair Jerome Powell’s insistence that lower rates were not part of the base scenario for 2023. However, optimism about the macro environment risks being offset by the…

Thai political party looking at PM race promises $300 in crypto upon victory: Report

April 7, 2023 boss

The Pheu Thai Party, a political party in opposition to the current Thailand prime minister’s, has reportedly proposed giving nearly every citizen of the country roughly $300 in digital currency should it win the next election. According to an April 7 report from the Bangkok Post, the Pheu Thai Party announced at an April 5 campaign event that it planned to give all Thai residents 16 years and older a stipend of 10,000 baht — roughly $292 at the time of publication. One of the party’s candidates for prime minister,…

Do Kwon’s Millions Are Not in South Korea, Prosecutors Say: Report

April 7, 2023

Prosecutors in South Korea – who confirmed the broadcaster’s report to Forkast – estimate nine executives made a total of 414.5 billion won ($315 million) from the enterprise. Of that, prosecutors found “almost none” of the 91.4 billion won belonging to Kwon in South Korea, according to the report. Original Source KoreaKwonsMillionsProsecutorsReportSouth CryptoX Portal

Head of Thailand’s Opposition Party Promises $300 Crypto Airdrop if Elected Prime Minister: Report

April 7, 2023

“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin is quoted by Bloomberg as saying. “The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth.” Source

Ripple wins big in US-Mexico transfers based on Bitso’s report

April 7, 2023

According to the 2022 report, Bitso highlighted that they processed about $3.3 billion between US and Mexico, using XRP and others. XRP moves $3.3b in US-Mexico settlements Cryptocurrency has gained momentum recently, acquiring different utilities across different jurisdictions. The most recent info is about the Ripple network. Bitso, a popular crypto exchange in Mexico, recently announced powering transactions of about $3.3 billion worth of crypto between the U.S. and Mexico. Based on Bitso’s report, the Ripple network is one of its primary settlement partners for cross-border transactions. The U.S. corridor…

Int’l securities body IOSCO prepares crypto regulation report for 2023

April 7, 2023 boss

The International Organization of Securities Commissions (IOSCO) will launch a consultation for its regulation report on crypto assets in Q2 2023. The final recommendations from the organization are planned to be published by the end of 2023. The dates are scheduled in IOSCO’s work program for 2023–24. Two major workflows are dedicated to decentralized assets in IOSCO’s Fintech Task Force plan. The first covers crypto and digital assets, and the second covers decentralized finance (DeFi). The DeFi consultation will start in Q3 of 2023. According to the work program text,…