The prospect of a retail CBDC has some major banks anxious over their revenue streams. In the current climate, which is pretty hostile for the digital assets industry following the failures of 2022, central bank digital currencies (CBDCs) are often perceived as “crypto killers.” This is hardly an overstatement, as financial authorities’ aspirations concerning CBDCs...Continue Reading

The decision was driven by the country’s concern over illicit activities in the crypto market and the desire to safeguard investors. South Korea has established an interagency investigation unit to combat cryptocurrency crimes, aiming to address the rise in illicit activities in the market and the need for investor protection, according to a July 26...Continue Reading

The Big Tech giants came together to form the Frontier Model Forum in a joint effort to focus on “safe and responsible” development of frontier AI models. Big Tech giants Google, Microsoft, ChatGPT maker OpenAI and AI startup Anthropic announced on July 26 they would form a new industry watchdog group to help regulate AI...Continue Reading

The crypto exchange’s move to withdraw its license in Germany comes amid reports that the exchange faced rejection from the regulators. Leading cryptocurrency exchange has withdrawn its cryptocurrency license application in Germany. The exchange confirmed its withdrawal to Cointelegraph on July 26, nearly a month after reports of rejections from The German Federal Financial Supervisory...Continue Reading

Despite the downturn in the NFT industry, Reddit continues to attract new holders of digital collectibles issues on blockchain. Social media platform Reddit continues exploring digital collectibles despite a significant downturn in the non-fungible tokens (NFT) industry. According to an official announcement on r/CollectibleAvatars, Reddit will drop its latest series of collectible avatars on July...Continue Reading

Ahead of the launch, Binance said it would offer zero maker fees for all FDUSD trading pairs. The recently introduced stablecoin, FDUSD, which was scheduled to be listed on Binance on July 26, 2023, at 08:00 (UTC), enabling trading for FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs has now been postponed to restart at...Continue Reading

The Senate overwhelmingly supported legislation requiring U.S. companies to report any outbound investments into Chinese technologies. On July 25, the United States Senate backed bipartisan legislation mandating U.S. companies to report any investments in Chinese technologies.  In an overwhelming vote of 91 to 6, the Senate supported the amendment to the National Defense Authorization Act...Continue Reading

Ant Group is reportedly cutting off its blockchain and database management businesses from its main entity to prepare for an upcoming public offering. Ant Group, a company backed by billionaire Jack Ma, is reportedly planning to restructure and cut ties to some operations that are not core parts of its Chinese financial business. The move...Continue Reading

Judge didn’t see any difference between crypto, fiat money or shells, as long as all those objects, physical or not, share value, created by mutual faith in it. Cryptocurrency is deemed property capable of being held on trust, Judge Philip Jeyaretnam of the High Court of Singapore decided in a ruling on July 25. The...Continue Reading

Alibaba’s cloud computing service taps Meta’s artificial intelligence model Llama to power new software development. E-commerce group Alibaba will become the first Chinese company to make use of Meta’s open-source artificial intelligence (AI) model Llama to power zero-cost development of programs. According to an initial report from Reuters which cited an official statement from Alibaba...Continue Reading