Crypto at the Center of $300M Fraud Case in China
21 people were sentenced in a case involving converting 'dirty' USDT to RMB. Original Source
Read More
China
UK AI Safety Summit begins with global leaders in attendance, remarks from China and Musk
The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China. U.K. Prime Minister Rishi Sunak is hosting the
Read More
Standard Chartered Shares Plunge 17% as China Bet Takes Hit
Despite the recent setbacks, Standard Chartered had been on an upward trajectory before the China-related issues came to the forefront. Shares of UK-based banking giant Standard Chartered Plc (LON: STAN) plummeted by as much as 17% during early trading, leading to a temporary halt in trade, and by 11:15 a.m. London
Read More
Researchers in China developed a hallucination correction engine for AI models
A team of scientists from the University of Science and Technology of China and Tencent’s YouTu Lab have developed a tool to combat “hallucination” by artificial intelligence (AI) models. Hallucination is the tendency for an AI model to generate outputs with a high level of confidence that don’t appear based on
Read More
US expands export controls for AI semiconductor chips to China
The United States Department of Commerce’s Bureau of Industry and Security (BIS) released a notice on Oct. 17 expanding the already existing export controls of artificial intelligence (AI) chips to China. The BIS wrote that the newly released rules “reinforce” those put in place back in October 2022, with the goal
Read More
China FX regulator supports CBDC amid monetary policy
A Chinese foreign exchange regulator official showed its support for the CBDC development, the digital yuan. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), explained to the CNA agency that some of the main features of CBDC could help enhance the effectiveness of monetary policy tools. The official
Read More
China Launches Its First Industrial Park for Digital Yuan CBDC Development
Currently, there are nine residents of the park. All of them will get access to ten government initiatives introduced to “boost the development” of the digital yuan ecosystem. The initiatives include payment solutions, smart contracts, hard wallets, and digital yuan promotion. The first industrial park has been opened in the Luohu district
Read More
China sets stricter rules for training generative AI models
China has released draft security regulations for companies providing generative artificial intelligence (AI) services, encompassing restrictions on data sources used for AI model training.On Wednesday, Oct. 11, the proposed regulations were released by the National Information Security Standardization Committee, comprising representatives from the Cyberspace Administration of China (CAC), the Ministry
Read More
Biden considers tightening AI chip controls to China via third parties
The United States government is considering additional measures to curb Chinese developers from gaining access to artificial intelligence (AI) semiconductor chips made in the U.S. via third parties.According to a report from Reuters on Oct. 13, people close to the matter have said that the Biden administration is targeting a
Read More
China launches first digital currency industrial park
China has launched its first industrial park dedicated to developing and applying the digital yuan, or e-CNY, in the city of Nanjing, Jiangsu province. The park, which covers an area of 10 square kilometers, aims to attract more than 100 enterprises and institutions related to the digital currency ecosystem, such
Read More