Friday May 26, 2023
◾ Digital Currency Group is closing down TradeBlock, it’s institutional-focused trade execution, pricing and prime brokerage platform. (Bloomberg)
◾ Authorities in Canada are launching an investigation into OpenAI’s collection, use and disclosure of personal information of Canadian residents. (Reuters)
◾ The European Securities and Markets Authority issued a public statement warning investors on the risks, specifically with crypto assets, when an investment firm offers both regulated and unregulated products. (Esma)
Government & NGO Actions
◾ Dubai’s Financial Services Authority is calling for increased efforts to stop crypto businesses from participating in regulatory arbitrage. (Bloomberg)
◾ French lawmakers agreed to lessen the restrictions on crypto companies using influencer marketing. (Cointelegraph)
◾ The Central Bank of Norway is questioning whether it should “proceed more quickly rather than wait for international regulatory solutions” to address regulation for crypto-asset markets. (Norges-bank)
◾ The Central Bank of Brazil released a list of 14 companies participating in a pilot for the digital real. (Bcb.gov)
◾ The CFTC charged 5 individuals with fraudulently soliciting hundreds of thousands of dollars from over 170 individuals to supposedly trade digital assets, and misappropriating customer funds. (CFTC)
◾ Based on its ongoing research the Bank of International Settlements issued its perspectives on issuing a retail CBDC suggesting how central banks can best engage industry and the public, what are the key legal issues related to retail CBDC, what tools may be needed to manage stressed conditions, and what could be the implications of using blockchain technology and associated concepts in CBDC. (BIS)
◾ The World Economic Forum released a white paper highlighting the needs and challenges in developing a global approach to crypto-asset regulation. (Weforum)
Public Company Releases
◾ Canaan (CAN) generated Q1 revenues of $55.2 million driven by total computing power sales of 4.2 million TH/s and $11 million in mining revenues. The company reported a first quarter loss of $47.5 million. (Canaan-creative)
AI Announcements
◾ Microsoft (MSFT) released a 5-point proposed blue print for regulating AI. (Microsoft)
◾ OpenAI is launching a $1 million grant to fund experiments in setting up a democratic process for deciding what rules AI systems should follow. (Openai)
◾ JPMorgan Chase (JPM) is developing a GPT-powered investment adviser. (CNBC)
◾ TikTok is testing an in-app AI chatbot called ‘Tako’ (Techcrunch)
Protocols, Applications & Business News
◾ Binance is launching an NFT loan platform allowing NFT owners to secure an ETH loan by using their NFTs as collateral. (Binance)
◾ Executives at South Korean exchange Coinone acknowledged accepting bribes to list certain digital tokens. (Coindesk)
◾ Circle launched its Euro based stablecoin on Avalanche. (PRnewswire)
◾ Gemini exchange is launching an educational series to educate investors on how to trade crypto derivatives. (Gemini)
Metaverse Briefings & Activations
◾ The east-central city of Zhengzhou is the latest Chinese city to establishing financial programs to support metaverse startups. (Cointelegraph)
Exchange, Custody and Product Updates
◾ Gemini announced plans to establish its European headquarters in Dublin. (Irishtimes)
◾ Gemini is the first Virtual Asset Service Provider to be registered with the Central Bank of Ireland. (Twitter)
◾ Seychelles-based crypto exchange Bitget registered as a Virtual Asset Service Provider in Poland. (Cryptobriefing)