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OpenAI, the company behind artificial intelligence chatbot ChatGPT, is reportedly exploring the possibility of manufacturing processing chips in-house amid a global shortage of the expensive and difficult to produce hardware.An Oct. 5 Reuters report citing people familiar with the matter said OpenAI has even evaluated an unnamed company as a
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Big businesses are able to act as “mini-governments” and impose their own rules on payment infrastructure, Rohit Chopra, director of the United States Consumer Financial Protection Bureau (CFPB), said at a fintech conference hosted by the Philadelphia Federal Reserve Bank on Sept. 7. As Big Tech continues to innovate, small
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A central bank digital currency (CBDC) can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC
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The Monetary Authority of Singapore (MAS) has started taking measures to prepare for new cryptocurrency regulations addressing the ongoing liquidity crisis and withdrawal issues.Singapore’s central bank has sent detailed questionnaires to some applicants and holders of the MAS’ Digital Payment Token licenses, Bloomberg reported on Friday.Sent over the last month,
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