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The United Kingdom will be hosting the world’s inaugural international summit on artificial intelligence (AI) safety in November 2023. This event seeks to establish the U.K.’s presence as a mediator between the United States, China and the European Union in the critical field of technology post-Brexit. The summit scheduled for Nov. 1–2 will place significant

The Bank for International Settlements’ (BIS) Project Atlas report offers yet another indication that the worlds of crypto and traditional finance may be converging. On the surface, this proof-of-concept project backed by some of Europe’s biggest central banks — like German central bank Deutsche Bundesbank and Dutch central bank De Nederlandsche Bank — seems modest

The eighth iteration of the Directive on Administrative Cooperation (DAC8) — a cryptocurrency tax reporting rule — was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force after publication in the Official Journal of the EU.  The DAC was sanctioned in May 2023 following the enactment

Major cryptocurrency exchanges and businesses are being lured to a proverbial crypto oasis around the Persian Gulf, according to Binance FZE’s general manager. Alex Chehade, who heads Binance’s local operation in Dubai, tells Cointelegraph reporter Ezra Reguerra that progressive regulatory frameworks in the region are a major drawcard for startups and established industry players: “What

During her opening speech at the International Monetary Fund’s (IMF) seminar on financial inclusion in Marrakesh, Morocco, IMF Managing Director Kristalina Georgieva said digitalization is “the most important way” to scale up financial inclusion.  “It is digital that moves help to people, investment and ability of the economy to accelerate,” Georgieva said, citing digital cash

Decentralized autonomous organizations (DAOs) need a comprehensive regulatory framework if they are to make a place in the future of the financial sector, suggests the European Central Bank (ECB) occasional paper (OP). The OP “The future of DAOs in finance – in need of legal status,” authored by Ellen Naudts, Market Infrastructure Expert Payments at

The use of cryptocurrency by Hamas militants to fund recent attacks on Israel may have set back Coinbase’s crypto lobbying efforts in the United States, says a new investment report from Berenberg Capital Markets.  In an Oct. 18 research note, Berenberg lead analyst Mark Palmer said the primary driver of his “cautious stance” towards Coinbase

The European Union’s financial regulatory landscape is in flux with the introduction of multiple Anti-Money Laundering (AML) directives and related laws. These regulations, although designed to protect the financial system, come at a hidden, and sometimes steep, cost to consumers and financial institutions alike. It’s imperative to understand their wider implications, and to question whether

South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said. The South Korean National Assembly Political Affairs Committee conducted an audit

North Carolina Representative Patrick McHenry, chair of the United States House Financial Services Committee and crypto proponent in Congress, is still temporarily in the third most powerful role in government after one of his Republican colleagues failed to secure enough votes. In a vote conducted with members of the U.S. House of Representatives on Oct.

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 of restricting China’s ability