Tuesday December 12, 2023
◾ South Korea’s Financial Services Commission proposed new rules protecting virtual asset users and requiring service providers to safely manage and store their customers’ deposits and assets. (FSC.go.kr)
◾ Microsoft (MSFT) entered into a "neutrality agreement" with the AFL-CIO, agreeing to maintain neutrality in union-led initiatives to recruit workers as members and address the effects of AI. (Reuters)
◾ China's newly launched "RealDID" program will require users register their identities on a national blockchain to enable anonymous website registration and login through DID addresses and private keys. (CoinDesk)
Government & NGO Actions
◾ The Bank of Russia said it expects to continue testing the digital ruble through 2024 with a planned release in 2025. (News.Bitcoin)
◾ EU officials are set to begin sessions today outlining the specific details of the new AI Act. (Reuters)
◾ El Salvador’s Digital Assets Commission approved the issuance of bitcoin-backed ‘Volcano Bonds’ and anticipates the bond will be issued during the first quarter of 2024. (X)
◾ The Central Bank of Taiwan is seeking feedback to improve its wholesale CBDC offering. (CoinDesk)
◾ Civil Justices in England and Wales received instructions permitting the use of generative AI tools for routine tasks, but prohibiting its use to conduct legal research or undertake legal analysis. (Reuters)
◾ The SEC is trying to determine how investment advisors are using AI. (WSJ)
◾ The US is investigating the details of three new AI chips Nvidia (NVDA) is manufacturing for the Chinese market. (Bloomberg)
◾ Senator Elizabeth Warren (D-MA) announced 5 new senators have joined her efforts to close crypto loop holes and combat illicit activity with the Digital Asset Anti-Money Laundering Act. (Senate.gov)
Financial Notices & Public Company Releases
◾ Hut 8 (HUT) produced 390 bitcoin (7.3 EH/s) last month ending November with 9.129 BTC on its balance sheet. (Hut8)
Restructuring, Losses & Legal News
◾ The IRS is arguing that FTX owes the government $24 billion in unpaid taxes. (Bloomberg)
◾ Google was defeated in an antitrust lawsuit filed by Epic Games, claiming the tech giant fosters an uncompetitive market for Android products through its app store. (WSJ)
AI Announcements
◾ Japanese technology giant Rakuten is preparing to unveil its own proprietary AI model. (CNBC)
◾ Apple’s (APPL) latest update (17.2) includes the release of its AI-powered journaling app. (CNBC)
◾ ChatGPT passed the American Board of Psychiatry and Neurology examination. (JamaNetwork)
Protocols, Applications & Business News
◾ Google updated its policies to allow crypto coin trusts to begin advertising in the US on January 29th. (Google)
Metaverse & Gaming Briefings & Activations
◾ Apple (APPL) is reportedly organizing Vision Pro training sessions for its retail employees and providing stores with the necessary equipment to handle the Vision Pro's launch in “early 2024.” (9to5Mac)
Thoughts on the Ecosystems
◾ Republican Presidential candidate Vivek Ramaswamy criticized the Treasury Department's sanctions on the Tornado Cash mixer, arguing that penalizing an entire protocol is illegal and unconstitutional under current law, as opposed to targeting individual wrongdoers. (TheBlock)