FameEX Morning Crypto News Recap | September 12, 2023
Exploring the Online Safety Bill: Its Potential Impact on Privacy in the UK
The Online Safety Bill, aimed at curbing illegal content, faces resistance from tech giants over privacy and encryption concerns. It includes provisions enabling the government to compel messaging platforms to scan messages for harmful content, raising privacy issues.
Environmental Activists Protest Renewal of New York Crypto Mining Facility, Highlighting Climate Concerns
Environmental activists are intensifying their campaign to convince New York officials to deny an air permit renewal for a cryptocurrency mining facility in North Tonawanda. They argue that the facility threatens residents' well-being and contradicts the state's climate goals, per a report by Mark Scheer for the Niagara Gazette.
Weekly Digital Asset Investment Outflows Reach $59 Million with BTC Recording its Largest Decline
Coinshares data reveals a significant outflow of $59 million in digital assets managed by Digital Asset Funds during the first week of September. Over the past four weeks, the total value of digital asset investment products under management decreased by $294 million (0.9%). Bitcoin (BTC) experienced the largest net outflow at $69 million in the same period.
RBI Chief Reports 1.5 Million Users and 300,000 Merchants Utilizing India's Central Bank Digital Currency
RBI Governor Shaktikanta Das announced that India's central bank digital currency (CBDC) has reached 1.5 million users, with over 300,000 merchants accepting digital rupee payments. The CBDC pilot program is currently active through 13 banks across 26 cities, signifying growing adoption and utilization of digital currency in India's financial landscape.
SEC Chair Gary Gensler to Maintain Stance on Cryptocurrency Regulation During Senate Hearing
Despite facing recent legal challenges, Gary Gensler, Chair of the United States Securities and Exchange Commission (SEC), remains resolute in the SEC's role in regulating cryptocurrencies. On September 12th, he intends to emphasize to lawmakers his belief that the SEC should maintain authority over the crypto space, undeterred by recent setbacks in court.
Google Initiates Digital Futures Project with $20 Million in Grants to Promote Ethical AI
Google and Google.org have introduced the Digital Futures Project, dedicating $20 million in grants to prominent think tanks and academic institutions worldwide. The initiative, initiated on September 11, is focused on the study of responsible artificial intelligence (AI) technologies, fostering discussions and research in this field.
G20 Nations Reiterate Commitment to Responsible Utilization and Advancement of AI Technology
As Brazil assumed the G20 Presidency from India, member nations pledged to responsibly harness artificial intelligence (AI) technology. They also discussed future considerations involving cryptocurrency assets and central bank digital currencies (CBDCs).
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