In the realm of generative AI, the concept of openness is not as clear-cut as it may seem on the surface. While different vendors may claim to be open by sharing model weights, documentation, or tests, the reality is quite different. The training data sets, which are crucial for validating and verifying models, are often
Regulation
The Binance-linked HKVAEX exchange has announced the closure of its services and the withdrawal of its application for an operational license in Hong Kong. The move, which came just three months after the company applied for the license, was confirmed through a notice on the Securities and Futures Commission (SFC) website. The exchange, operating under
The recent sanctions imposed by the US Department of the Treasury and its Office of Foreign Assets Control (OFAC) on the Palestinian news network Gaza Now have sent shockwaves through the crypto world. The Treasury sanctions not only targeted Gaza Now but also designated several crypto addresses associated with the news network and its affiliates,
Portugal’s National Data Protection Commission (CNPD) has made the decision to ban Worldcoin from collecting biometric data for a period of three months. The reasons behind this ban are related to the company’s alleged failure to verify the age of its members, leading to the collection of data from minors without proper parental consent. Additionally,
The recent actions taken by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) have sent shockwaves through the Russian financial services and technology sectors. With the sanctioning of 13 entities and two individuals, including companies involved in virtual assets that enable the evasion of US sanctions, the Treasury Department has made
The Commodities and Futures Trading Commission (CFTC) has recently given the green light to Coinbase Derivatives Exchange to list futures contracts tied to Dogecoin (DOGE), Bitcoin Cash (BCH), and Litecoin (LTC). This approval marks a significant milestone in the cryptocurrency market, as these tokens are now set to enter the world of futures trading. The
The US SEC has recently pushed back the approval process for several highly anticipated Ethereum exchange-traded funds (ETFs), as per regulatory filings. Among the investment firms affected by these delays are VanEck, Ark Invest, Hashdex, and Grayscale. Notably, Grayscale has added a staking component to its ETH ETF application. Bloomberg ETF analyst James Seyffart, known
The UK Financial Conduct Authority (FCA) has recently revealed its intention to recover approximately $8 million in costs associated with the supervision of stablecoins and crypto. This initiative, detailed in a March 19 release, aims to impose fees on stablecoin issuers and digital asset custodians to cover these expenses. The FCA plans to recuperate £6.2
The US Securities and Exchange Commission (SEC) chair, Gary Gensler, recently spoke out against the practice of “AI washing” in the financial sector. AI washing refers to the misuse of artificial intelligence technology, particularly when individuals or companies make false claims about the use of AI in their financial activities. Gensler emphasized that such activities
A recent ruling by a Federal High Court in Nigeria has ordered Binance, one of the leading cryptocurrency exchanges, to provide detailed information about all its Nigerian users to the Economic and Financial Crimes Commission (EFCC). This move comes in the midst of escalating tensions between Binance and the Nigerian government. The country has been
