• US prosecutors are planning to issue a superseding indictment against Sam Bankman-Fried.
• The Federal Reserve has created a Novel Activities Supervision Program to oversee new financial technologies.
• Hong Kong securities regulator warns unlicensed virtual asset trading platforms may face steep fines and imprisonment.
Brazil To Launch CBDC ‚DREX‘ In 2024
The Central Bank of Brazil has unveiled its upcoming digital currency, ‘DREX’, which will be a digital representation of the Brazilian real and aims to facilitate access to financial services by reducing costs. It harnesses the power of blockchain and Distributed Ledger Technology (DLT) in order to do so.
US Prosecutors To Issue Superseding Indictment Against Sam Bankman-Fried
US prosecutors are planning to issue a superseding indictment against Sam Bankman-Fried next week as part of an ongoing investigation into crypto trading activities. This comes after the Curve attacker began returning stolen funds following a bounty issued by the company.
Federal Reserve Creates Novel Activities Supervision Program
In response to the growing use of new financial technologies, the Federal Reserve has created the Novel Activities Supervision Program (NASP) in order to oversee these activities and ensure that they comply with existing laws and regulations. This program seeks to provide greater oversight over emerging technologies such as cryptocurrencies, stablecoins, Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), among others.
Hong Kong Securities Regulator Warns Unlicensed Virtual Asset Trading Platforms
The Hong Kong Securities Regulator is warning unlicensed virtual asset trading platforms that they may face steep fines or even imprisonment if they continue their operations without proper authorization from authorities in the region. As such, it is highly recommended for any companies operating virtual asset services in Hong Kong to obtain official licenses before providing their services there.
Tim Cook Says AI And Machine Learning Are Part Of ‚Virtually Every Product‘ Apple Is Building
Tim Cook recently stated that Artificial Intelligence (AI) and Machine Learning are now part of “virtually every product” that Apple is building. While Google and Microsoft have been investing heavily into AI development for some time now, this marks Apple’s first major foray into this field; suggesting that these technologies will soon become increasingly more common across all kinds of products within Apple’s ecosystem.