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The United Nations General Assembly has endorsed a resolution concerning artificial intelligence (AI), marking a global effort to shape the development of this transformative technology. Initiated by the United States and supported by 123 countries, including China, the resolution was unanimously adopted on March 2, demonstrating broad consensus among all 193 U.N. member nations. The resolution urges countries to prioritize safeguarding human rights, protecting personal data, and monitoring AI for potential risks. While lacking legal enforceability, such resolutions serve as vital indicators of global sentiment, signaling the international community's commitment to responsible AI development. Citing concerns about AI's disruptive potential, the resolution highlights risks to democratic systems, fraudulent activities, and job displacement. It emphasizes the need to prevent the improper or malicious design, development, deployment, and use of AI systems, which could undermine human...

Google has agreed to pay a fine imposed by the French government’s competition watchdog for a previous breach of European Union intellectual property (IP) laws related to its treatment of media publishers. The French competition authority raised concerns about Google’s AI service, Gemini (formerly known as Bard), alleging that it utilized content from local publishers and news agencies without proper notification and clearance. In settlement proceedings, Google has pledged not to contest the facts, as confirmed by the watchdog. The company has also proposed a series of remedy measures to address certain shortcomings. However, Google's office in France has yet to respond to requests for comment regarding the fine. The fine is a result of a copyright dispute in France concerning online content, initiated by complaints from major news organizations such as Agence France Presse (AFP). Initially, the dispute seemed resolved in 2022 when Google dropped its appeal against an initial 500...

The Riksbank has published its conclusive report on the ‘digital krona’ pilot project, focusing on end-user experiences and offline functionality. Released on March 20, the report delves into a new model for offline retail transactions, diverging from the one proposed in the pilot's Phase 2, where offline transaction data was stored on mobile phones. Four primary use cases were investigated, including funding and defunding the payment instrument, offline payments at point-of-sale (POS) using near-field communication, offline transfers between two cards, and imposing limitations on card balances and transaction numbers. The usage of mobile phones for communication between cards and POS terminals posed security concerns, leading to complexities in user-to-user payments. Synchronization of payment cards after transactions was identified as a crucial issue, with potential liquidity issues if not managed correctly. To address this, counters would ensure proper synchronization and prevent...

The Irkutsk Prosecution Service announced via Telegram that a 35-year-old crypto miner will face trial for allegedly stealing electricity in Cheremkhovo, a town in the Russian crypto mining hotspot of Irkutsk. This move comes amid a broader crackdown on illegal and quasi-legal crypto mining activities in the region. Recently, power provider Rosseti shut down 17 illegal crypto mining farms in Krasnoyarsk, Omsk, and Khakassia. Additionally, 36 "illegal" crypto mining farms were closed in the Republic of Dagestan since 2022. Similar crackdowns have occurred in nearby Abkhazia, another unofficial crypto mining hub. Irkutsk Oblast officials are hopeful that the Russian energy ministry will proceed with plans to increase energy prices for miners, aiming to discourage new miners from flocking to the region and alleviate pressure on the power grids. Prosecution officials released images of seized equipment from the 35-year-old's mining operation in Cheremkhovo. The miner is accused of...

Congressman Patrick McHenry expressed optimism regarding the passage of crucial cryptocurrency legislation before the November elections. He highlighted positive shifts in legislative prospects, particularly after leadership changes within the House Republicans. McHenry credited the appointment of Mike Johnson, following Kevin McCarthy's removal as Speaker, for facilitating progress on contentious legislation. He emphasized Johnson's ability to bring legislation into law, citing his role in arranging a spending deal to prevent a government shutdown as evidence of his strengths. McHenry noted increased opportunities to pass crypto legislation, which is unusual for an election year, expressing hopes for two specific bills. McHenry mentioned the "Keep Innovation in America Act," a crypto market structure reform bill, for which he is working to schedule a House vote. He also discussed the "Clarity for Payment Stablecoins Act," which he believes could soon become law, given the Biden...

Amidst Argentina's ongoing economic challenges, a notable transformation is underway as citizens seek to safeguard their wealth against the persistent devaluation of the peso. Increasingly, Argentinians are turning to Bitcoin as a hedge against inflation, signaling a potential departure from the longstanding practice of acquiring US dollars as a means of protection. President Javier Milei's economic policies, aimed at stabilizing the money supply, have coincided with a strengthening peso, prompting citizens to explore alternative avenues for wealth preservation. While the traditional strategy of converting pesos to dollars has lost some appeal due to a strengthened parallel exchange rate and a relatively stagnant US dollar, Bitcoin has emerged as an enticing alternative. Bitcoin's allure lies not only in its potential for appreciation, evidenced by its significant value surge compared to both the peso and the dollar, but also in its capacity for diversification. Argentinians are...

In a significant development, several prominent advocacy groups, including the Crypto Council for Innovation (CCI), Satoshi Action Fund, Texas Blockchain Council, Paradigm, Lejilex, and the U.S. Chamber of Commerce, have filed amicus briefs in support of Coinbase's appeal against the U.S. Securities and Exchange Commission (SEC). The filings come as Coinbase seeks clarity and regulatory guidance from the SEC regarding digital assets. The crux of the matter lies in the lack of clear regulatory frameworks, with the SEC's refusal to engage in rulemaking resulting in ambiguity and uncertainty within the crypto industry. The delay in providing regulatory clarity not only hampers innovation but also risks driving digital asset companies to relocate outside the United States, as noted in the joint filing by the Satoshi Action Fund and Texas Blockchain Council. This uncertainty has prompted Coinbase and other market participants to seek regulatory clarity to navigate the evolving landscape...

In a bid to strengthen investor protection and ensure market integrity, the Financial Conduct Authority (FCA) of the United Kingdom has unveiled plans to implement a market abuse regime for cryptocurrencies within the current year. The move, outlined in the FCA's business strategy released on Tuesday, signifies the regulator's proactive stance in combating illicit activities in the crypto sector. The proposed regime will extend to individuals engaging in market abuse activities related to cryptocurrencies traded on UK exchanges, irrespective of their geographic location. This expansion of regulatory oversight underscores the FCA's commitment to curbing market manipulation and fraudulent practices in the digital asset space. Furthermore, the FCA's business plan outlines ambitious initiatives to enhance its surveillance capabilities through advanced analytics tools, including network analysis and cross-asset class visualizations. These technological enhancements aim to bolster the...

Quantum computing, hailed as a transformative force with the potential to reshape various industries, poses a significant threat to Bitcoin, the leading cryptocurrency valued at $1.27 trillion. Bitcoin's reliance on the Proof-of-Work (POW) consensus protocol and Elliptic Curve Cryptography (ECC) for encryption leaves it vulnerable to quantum computing's unparalleled computational power. The POW mechanism, integral to Bitcoin's functioning, involves miners solving complex mathematical puzzles to validate transactions and maintain network security. However, quantum computing's capacity to perform calculations at unprecedented speeds, particularly through algorithms like Grover's, raises concerns about centralizing mining power and compromising Bitcoin's decentralized nature. According to Dan A. Bard, a Teaching Staff member at the University of Kent, projections suggest that within approximately 27 years, a single quantum computer could potentially outpace the entire Bitcoin network,...

The National Securities Commission (CNV) of Argentina has announced its intent to regulate the nation's cryptocurrency service providers, marking a significant shift in oversight within the Latin American country's crypto sector. On March 18, the CNV revealed its plans to actively supervise Argentina's trading platforms, signaling a proactive approach to enforcing regulatory compliance within the burgeoning crypto industry. As part of these efforts, the CNV will establish a national registry of crypto platforms, with operators likely required to obtain operating licenses to continue their activities legally. This move follows closely on the heels of the Argentine Senate's approval of legislation to create a registry of cryptocurrency service providers, a decision reportedly influenced by pressure from the Financial Action Task Force (FATF). With FATF officials warning of potential repercussions, including placement on the organization's "grey list," Argentina faces increasing...

In a significant development, a Federal court in Nigeria has issued an interim order mandating Binance, one of the largest cryptocurrency exchanges globally, to provide detailed information about all Nigerian users trading on its platform to the country's Economic and Financial Crimes Commission (EFCC). The court's decision comes amid Nigeria's intensified crackdown on the cryptocurrency industry, which authorities allege has played a role in facilitating illegal capital outflows and contributing to the weakening of the national currency, the naira. This move reflects the government's growing regulatory scrutiny and determination to rein in the crypto sector, which it perceives as a potential threat to the country's financial stability and sovereignty. Furthermore, the detention of two senior executives from Binance, who were summoned to Nigeria for discussions regarding the matter, adds another layer of complexity to the situation. The court hearing for these executives is scheduled...

Gluwa, a real-world assets platform, is in talks with Liberian President Joseph Boakai to explore the possibility of assisting in the development and launch of Liberia's Central Bank Digital Currency (CBDC). The CEO of Gluwa, Tae Oh, discussed strategies to make the CBDC compatible with Liberia's mobile money system during a recent meeting with President Boakai. Additionally, Gluwa aims to address Liberia's slow internet connectivity, particularly in rural areas, by considering the launch of a satellite-based internet service. By improving internet access, Gluwa seeks to enhance the accessibility and usage of the CBDC across the country, potentially increasing its chances of success. This potential partnership with Liberia follows Gluwa's recent involvement with the Nigerian central bank as a digital currency technology partner and discussions with Ghana's Vice President regarding the development of Ghana's CBDC. Gluwa's efforts highlight its commitment to advancing digital financial...