South Africa issues digital currency licenses to Luno, VALR
The Financial Sector Conduct Authority announced in 2023 that all VASPs had to obtain a license or shut down by the end of the year.
Latest Business News
India’s Blockchain for Impact allots $150,000 to IIT-Kanpur for advancements in healthcare
BFI will support IIT Kanpur in promoting entrepreneurial initiatives through the institute's SIIC, with the aim of developing solutions that address critical gaps in India's healthcare sector.
Massachusetts AG releases AI advisory for enterprises amid soaring adoption rates
Massachusetts AG's advisory took swipes at the “false advertising” in AI and warned that AI firms engaged in deceptive marketing could face dire sanctions under the state’s consumer protection rules.
Banking giants take part in UK Finance’s Regulated Liability Network experimentation
UK Finance's RLN experimentation will focus on three primary aspects: reducing fraud in online marketplaces, improving customer transparency, and establishing a digital bond settlement.
New US stablecoin bill doesn’t mention Tether, but it didn’t have to
The Gillibrand-Lummis bill intends to distinguish Tether and Circle as lawmakers look to allow state non-depository trust companies to issue stablecoins with market caps below $10 billion.
HSBC CEO backs tokenization, shuns ‘crypto’
CEO Noel Quinn says he’s “very comfortable with tokenization” and pledged to keep expanding HSBC’s offerings, which include tokenized gold for retail customers.
Digital asset exchanges in India seek to improve user experience, become more regulatory compliant
Digital asset exchanges in India strive to improve users' trading experience while complying with regulations, as the nation's economic projections for emerging technologies lure investors.
Nigerian police locate Binance exec in Kenya, but extradition might take years
Nigerian authorities have confirmed that Nadeem Anjarwalla, who escaped detention, is in Nairobi, but the East African nation says extradition will drag on.
OpenAI makes ChatGPT ‘more conversational’ in latest update
OpenAI disclosed that the new GPT-4 Turbo will shine a more conversational, direct, and "less verbose" response than its earlier versions, which will only be accessible to premium users.
Norway seeks to close door on digital asset miners
Norway's new mandate gives more power to authorities to shut down data centers deemed undesirable, requiring these centers to disclose their services and the individuals behind their operations.
Hollywood Union deal requires consent and approval for AI voice use
As AI gains momentum in the entertainment industry, artists have struck a deal with record labels to protect their rights, in addition to calling for better benefits and higher wages.
BIS envisions global ‘Finternet’ running on unified ledger technology
In its paper, the Bank for International Settlements said a financial system running on a unified ledger could help foster greater participation, more personalized services, and improved speed and reliability for end users.
No hallucination: Overall AI investment falls, generative AI funding soars
While tech giants are ramping up investments in training and developing AI models, it could take a while before they see actual profit as developers ride the wave of rising skepticism from investors.
Study shows Australians value privacy over safety with CBDC
A recent study found that Australians trust commercial banks as much as the central bank but are willing to pay more to share less data with authorities.
Hong Kong still weighing whether retail CBDC benefits outweigh the risks
The HKMA chief executive says the central bank is still determining whether there is a real need for a retail CBDC, adding that existing systems in Hong Kong are efficient.
PayPal removes user protection for NFT transactions
PayPal has withdrawn its protection for NFTs exceeding $10,000; those under $10,000 will be covered unless the buyer claims it’s an unauthorized transaction.
Adobe expands AI models training with help from artists, photographers
Adobe is banking on the expertise of artists and photographers in developing an AI text-to-video generator, paying 6 cents up to $7 for every photo and video submitted to the firm for the project.
Global securities watchdogs’ association IOSCO to focus on tokenization, AI
IOSCO has revised its annual work plan to include a renewed focus on tokenization while also monitoring the implementation of its digital currency recommendations.
RockWallet’s rock solid customer experience leads to ‘best month ever’
2023 closed on an optimistic note for RockWallet, with a “massive spike” in both volume and revenue in the month of December. That momentum continued into January/February 2024, but March was RockWallet’s “best month ever."
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