Tuesday, May 30, 2023
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G-7 Countries Must Effectively Implement Travel Rule to End ‘Lawless’ Crypto Space, FATF Chief Says

"Around the globe, countries have made progress in implementing most of the standards; however, progress on implementing FATF’s updated requirements on crypto assets has been relatively poor," Kumar said, adding that 73% of countries are still "non-compliant or only partially compliant" with the watchdog's standards. Source

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OpenAI CEO Sam Altman Testifies in Congress Hearing on AI Safety Alongside IBM Chief Trust Officer & NYU Professor

Sam Altman’s sincerity impressed lawmakers at Tuesday’s hearing as he discussed AI’s destructive potential and supported proper regulation. OpenAI CEO and Worldcoin co-founder Sam Altman recently testified in a US Congress hearing on artificial intelligence (AI). At Tuesday’s ‘historic’ hearing, Altman discussed possible government regulation of the AI space and fielded

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Coinbase legal chief sends letter to SEC on RIA rulemaking

Coinbase’s legal chief has requested the United States Securities and Exchange Commission (SEC) make several revisions to its proposed regulation on the responsibilities of registered investment advisers (RIAs) for storing client assets with qualified custodians.Although the SEC acknowledges Coinbase Custody Trust Company as a “qualified custodian,“ Coinbase contends that the

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IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar – Economics Bitcoin News

International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked

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Stablecoin Reserves Need to Be Diverse, European Banking Authority Chief José Manuel Campa Says

The bloc’s Markets in Crypto Assets rules, known as MiCA, are set to take effect as of 2024, but crypto market players should start adjusting their operations now, said José Manuel Campa, whose agency will play a key role in its implementation by drafting subsidiary legislation. Source

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Former Signature Bank Crypto Payments Chief, 4 of His Team Join Fortress Trust

Seibert, who is now managing director of the Fortress digital assets business, is working with part of the Signature Bank risk and compliance team and crypto payments specialists, to help exchanges, over-the-counter (OTC) desks and others in the industry solve their post-Signature/Silvergate fiat settlement at Fortress, he told CryptoX. Source

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