Can Bitcoin close above $70K amid strong labor market?

June 7, 2024 Coin Telegraph

Can Bitcoin close above K amid strong labor market?

bitcoin etf

Stronger-than-expected employment data could put more downward pressure on Bitcoin price. Are ETF inflows enough to get a weekly BTC close above $70,000?

Bitcoin price could be pressured by the accelerating labor market in the world’s largest economy, the United States.

The nonfarm payrolls report, published on June 7, measures the change in the number of people employed during the previous month, excluding the farming industry.

With nonfarm payrolls exceeding expectations, investors could become concerned with more monetary policy tightening.

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Worldcoin faces bans worldwide amid increasing privacy fears

May 27, 2024 Coin Telegraph

Coin Telegraph

Regulators across the world are banning Worldcoin, which collects biometric data for a small payment of its native cryptocurrency.

The increasing adoption of Worldcoin, an AI-centric identification project with its own cryptocurrency, is alarming privacy advocates and regulators.

According to the project, over 5 million people have already lined up to stare into a silver sphere the size of a bowling ball and scan their irises.

In addition to receiving online ID verification, users are rewarded 25 WLD, worth about $115.

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EU says ChatGPT outputs too much false information to comply with rules

May 24, 2024 Coin Telegraph

chatGPT

While the assessment remains ongoing, OpenAI appears to have made little in the way of progress since 2023.

The European Data Protection Board (EDPB) published the first progress report from its “GPT taskforce” and the news isn’t good for ChatGPT.

OpenAI’s efforts to bring its flagship AI model, ChatGPT, into line with European Union (EU) rules including the comprehensive General Data Protection Regulation (GDPR) were noted by the EDPB, but ultimately deemed insufficient.

Per the EDPB document:

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Microsoft faces multi-billion dollar fine in EU over Bing AI

May 18, 2024 Coin Telegraph

Coin Telegraph

The Redmond company could be fined as much as 1% of its annual revenue if it doesn’t respond by May 27.

Microsoft faces a fine in the European Union of up to 1% of its annual revenue if it doesn’t respond to a request for information by May 27.

The threat stems from a request made under the E.U.’s Digital Services Act concerning the company’s Bing search engine and its associated generative artificial intelligence services.

A post on X.com compelling Microsoft to “provide information under the Digital Services Act on generative AI risks on Bing” was sent on May 17 disclosing the news to the public.

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Crypto Exchange Kraken Mulls Pulling Support for Top Stablecoin USDT in the EU: Report

May 18, 2024 The Daily Hodl

Altcoins

The San Francisco-based crypto exchange Kraken is reportedly mulling whether to pull support for the stablecoin USDT in the European Union (EU). Bloomberg reports that Kraken is “actively reviewing” its European support for the Tether-issued stablecoin. European digital asset trade associations and think tanks have warned that the EU’s Markets in Crypto-Assets Regulation (MiCA) could […]

The post Crypto Exchange Kraken Mulls Pulling Support for Top Stablecoin USDT in the EU: Report appeared first on The Daily Hodl.

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Blockchain adoption in healthcare faces serious obstacles in Germany

May 12, 2024 Coin Telegraph

Coin Telegraph

Blockchain technology could enhance healthcare digitalization, but privacy concerns are hampering adoption.

Blockchain technology has expanded beyond cryptocurrency and is now used in a number of applications, including decentralized databases, which can prevent counterfeiting through transparency and security.

This ability to secure data is particularly valuable to the healthcare sector, where blockchain tech can secure data, enhance data integrity and empower patients to control their data more effectively.

It can also improve transparency in supply chains and verify the authenticity of medicine. Additionally, blockchain aids in healthcare identification and has the potential to enhance biomedical research by simplifying data storage and exchange.

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EU Regulator Considers Crypto Inclusion in €12 Trillion UCITS Funds

May 9, 2024 Bitcoin.com

bitcoin.com

The European Securities and Markets Authority (ESMA) has initiated a call for evidence to explore the potential inclusion of new assets, including cryptocurrencies, in UCITS funds, which represent a major share of EU retail investments. UCITS, an acronym for Undertakings for Collective Investment in Transferable Securities, is a regulatory framework of the European Union that […]

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EU crypto regulations undermined by lack of enforcement, say observers

May 7, 2024 Coin Telegraph

Coin Telegraph

The European Union’s Markets in Crypto-Assets Regulation is being phased in, but regulators have reportedly been inconsistent in enforcing existing laws.

The European Union’s flagship crypto legislation, passed in 2023, is coming into effect this year, but pre-existing legislation has not been enforced evenly.

This is according to Jon Helgi Egilsson, chair and founder of Monerium, a licensed e-money issuer operating in the region.

According to Egilsson, the new regulations — the Markets in Crypto-Assets Regulation (MiCA) — are built upon the EU’s Electronic Money Directive (EMD II), which has been flouted for years.

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Central banks must revise business model, embrace CBDCs — ECB member

May 6, 2024 Coin Telegraph

CBDC

Bundesbank’s president Joachim Nagel urged central banks to revamp their business models and adopt digital currencies during the BIS Innovation Summit.

Central banks’ future depends on a revision of their business model and speedy adoption of central bank digital currencies (CBDCs), said Joachim Nagel, president of the Bundesbank and member of the European Central Bank (ECB).

Nagel reportedly warned about the uncertainty surrounding central banks during a panel session at the Innovation Summit hosted by the Bank for International Settlements on May 6.

“If you would have asked me 20 years ago if the central bank business model” was “destroyable or not, I would have said no,” he reportedly stated in Basel, Switzerland. Nagel continued:

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OpenAI hit with privacy complaint in Austria, potential EU law breach

April 29, 2024 Coin Telegraph

accuracy

Austrian data rights group Noyb filed a privacy complaint against OpenAI, accusing its ChatGPT of providing false information and potentially breaching EU privacy regulations.

The prominent artificial intelligence (AI) developer OpenAI has been placed at the center of a new privacy complaint launched by a data rights protection advocacy group in Austria.

On April 29, Noyb opened the complaint alleging that OpenAI has not fixed false information provided by its generative AI chatbot ChatGPT. The group said these actions, or lack thereof, could breach privacy rules in the European Union.

According to the group, the complainant of the case, an unnamed public figure, asked OpenAI’s chatbot for information about himself and was consistently provided with incorrect information.

European Union

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