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WEF Report Warns of AI and Quantum Computing Risks
The WEF 2024 report warns of the negative impacts of AI and the risks of quantum computing, including misinformation, labor market disruptions, security concerns, and ethical issues in healthcare and geopolitics. The report calls for increased regulation and public awareness of AI.
California Advances in Generative AI with New Report
The Newsom Administration's report on Generative AI outlines California's approach to regulating and embracing this technology, emphasizing education and workforce training for responsible use.
OpenAI Initiates Preparedness Team to Address AI Catastrophic Risks
OpenAI has launched a new Preparedness initiative, led by Aleksander Madry, to address catastrophic risks associated with AI models. The initiative will monitor, evaluate, and mitigate potential dangers, develop a Risk-Informed Development Policy, and launch an AI Preparedness Challenge to recruit talent.
UK to Host First International AI Safety Conference in November
The United Kingdom is set to host the world's first international conference on AI safety on November 1-2, 2023. The summit aims to position the UK as a mediator in tech discussions between the US, China, and the EU. Prime Minister Rishi Sunak will host the event at Bletchley Park, featuring notable attendees like US Vice President Kamala Harris and Google DeepMind CEO Demis Hassabis. The conference will focus on the existential risks posed by AI, among other safety concerns.
Coinbase Amplifies Anti-Terrorism Financing Measures Through Blockchain Analytics
Coinbase, on October 17, 2023, outlined its robust measures to curb terrorism financing and other illicit activities through a rigorous compliance framework and blockchain analytics. The discourse emphasizes the importance of regulatory clarity in the U.S to minimize offshore risks associated with digital assets. With a dedicated team and technological tools, Coinbase demonstrates a proactive approach in maintaining the integrity of the crypto ecosystem.
IMF Proposes Framework to Assess Crypto Asset Risks
The International Monetary Fund (IMF) has released a working paper that delves into the macrofinancial risks tied to crypto assets. The paper, part of the IMF's Working Papers series, proposes a framework aimed at aiding policymakers and regulatory authorities in understanding and tracking systemic risks from the crypto sector. This framework is crucial as traditional financial tools are not well-suited for assessing crypto-related risks.
JPEX Claims 70% of Voting Users Agree to Dividend Scheme; Lawmaker Warns of Debt Risks
JPEX, a virtual asset trading platform suspected of illegal operations, has proposed a DAO stakeholder dividend scheme. While 70% of participating users have agreed, lawmaker Huang Junshuo warns of potential debt risks. The platform is also under legal scrutiny, with ongoing investigations into fraud.
Financial Stability Risks from Cryptoassets in Emerging Market Economies Highlighted by BIS
The Bank for International Settlements (BIS) and the Consultative Group of Directors of Financial Stability (CGDFS) have released a report on the financial stability risks from crypto assets in emerging market economies. The report highlights the rapid evolution of digital finance and the potential risks associated with cryptoassets, such as market, liquidity, credit, operational, and capital flow risks.
CFTC Commissioner Calls for Reduced Cryptocurrency Anonymity
CFTC Commissioner Christy Goldsmith Romero has proposed reducing the anonymity of cryptocurrencies as a means of managing associated risks. Romero spoke at City Week 2023 in London, stating that market integrity, national security, and financial stability cannot be compromised.
TikTok Crypto Influencers Mislead Viewers
More than one-third of cryptocurrency influencers on TikTok have posted misleading videos about Bitcoin and other cryptocurrencies, according to a recent study. Many of these influencers fail to provide disclaimers warning users about the risks of investing in cryptocurrencies. Moreover, many are pushing services and investments for their own profit, without disclosing the payments they receive. The potential financial risks for unwary investors are high, with one in three misleading videos on TikTok mentioning Bitcoin. Viewers are advised to do their own research before making any investments.