risks
Bitcoin Price and Crypto Market Analysis: Opportunities or Risks Ahead?
Analysis of why the Bitcoin and crypto market going up and potential opportunities and risks ahead.
Fed Governor Warns ECB Forum that Libra Risks are Immense
The Governor of the Federal Reserve, Lael Brainard warned a European Central Bank (ECB) forum in Germany, that the risks posed by the potential mainstream adoption of the Facebook proposed stablecoin Libra, are too immense.
Bank of Canada Says CBDCs Have Inherent Risks in New Study
A new report released by the Bank of Canada has revealed that the bank believes Central Bank Digital Currencies can pose security risks to users
Ripple CEO Urges US Regulators to Embrace Crypto as Country Risks Falling Behind China
CEO of Ripple, Brad Garlinghouse, has disclosed how China has taken the lead in blockchain and crypto as the US risks losing out.
European Central Bank Encourages Clear Regulatory Structure for Stablecoins to Reap the Benefits While Minimizing Potential Risks
The European Central Bank (ECB) published an in-depth report on global stablecoins, focusing on highlighting the requirement for clear regulatory parameters for stablecoins, and the risks it may pose to financial stability. The ECB suggests that a “robust regulatory framework” must be established to address risks before its benefits could be explored.
G20 Agency Warns Countries of Systemic Risks Posed by Global Stablecoins
The Financial Stability Board (FSB), the G20 body that advises on ways to improve the global financial system, has published a study on the challenges, which stablecoins pose for the global economy. The FSB stated that regulatory frameworks have already covered several activities associated with stablecoins, although there are other risks that many national regulators could be left unprepared for.
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.
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.
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.
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.
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.
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.
Biden urges technology firms to prioritize safety in AI development
US President Joe Biden has called for technology companies to prioritize safety when developing and releasing artificial intelligence (AI) products. He acknowledged the potential benefits of AI in addressing global issues, but emphasized the need to address risks to society, national security, and the economy. Biden also urged Congress to approve non-partisan privacy laws that prioritize health and safety in product development.
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.
The ECB Warns Financial Stability Risks If Central Banks Fails to Issue Digital Currencies
The European Central Bank (ECB) warns that nations who decide not to issue CBDCs may encounter risks to their monetary autonomy and financial systems.
US Treasury Department Warns Regulators of Potential Risks of Digital Assets
The Financial Stability Oversight Council (FSOC) of the US Treasury Department has released its annual report with a crucial warning of digital assets disruption.
Ethereum's Vitalik Buterin Concerned About Security Risks That Come With High ETH Transaction Fees
By now, it is no secret that Ethereum co-founder Vitalik Buterin and his team are busy perfecting Ethereum 2.0 and preparing it for its official launch.
DeFi’s Smart Contract Risks: Cream Finance’s Input Error Led to CREAM Token Plunging 25%
The DeFi sector has attracted millions to billions of dollars worth of crypto to the industry, however, some protocols have shown issues.
Goldman Sachs Warns Inflation Threatens US Dollar’s Role as Global Reserve Currency
Goldman Sachs strategists say risks to the U.S dollar’s reserve status include increasing pandemic and political uncertainty and rising debt.
Basel Committee on Banking Supervision Seeks Advice on Designing Prudential Treatment for Crypto-assets
Basel Committee on Banking Supervision publishes paper going over the design for prudential treatment for crypto assets. The paper goes over areas such as risks of crypto-asset exposures, capital, and liquidity requirements, and general considerations for the prudential treatment.
LocalBitcoins warns Tor Browser Users of Potential Bitcoin Theft
LocalBitcoins, a Finnish crypto exchange, recently warned its users about the potential cybersecurity risks connected to the anonymous browser—Tor Browser.