FameEX Morning Crypto News Recap | October 27, 2023
DeFi Rebounds Strongly, with Total Value Locked Exceeding $40 Billion
In the midst of the crypto market's recent resurgence, the total value locked (TVL) in decentralized finance (DeFi) protocols has surged past $40 billion, a level it hadn't reached since mid-August. The combined market capitalization of the top 100 DeFi coins is now hovering just below $50 billion.
Nigeria Expands Official Currency Market to Include Fintechs
Nigeria intends to expand its official foreign exchange currency market to involve "legitimate" entities such as bureaux de change and fintech firms, according to a Nigerian official. Finance Minister Wale Edun additionally revealed that the country expects to receive $10 billion in inflows in the coming weeks.
Circle Launches 'Points-to-Crypto' Program in Collaboration with Taiwanese Convenience Store Chain
Circle, a U.S.-based stablecoin provider, has teamed up with Taiwan's second-largest convenience store chain, FamilyMart. The collaboration aims to introduce a "Points-to-Crypto" service accessible through the FamilyMart app, as per the company's announcement on October 26th.
How Google's AI Legal Protections Could Impact Art and Copyright Rights
Google is facing multiple legal challenges regarding its AI services, particularly concerning the impact of generative AI on copyright and privacy rights. Despite the lawsuits, Google is steadfast in its commitment to protecting its users and defending its AI technologies. The company is navigating this legal landscape as it grapples with the evolving legal implications of AI-generated content and its effects on intellectual property and personal privacy.
Gary Gensler Teases SEC's $5 Billion from Enforcement Actions and Offers Insights on Crypto
SEC Chair Gary Gensler discussed the SEC's enforcement actions, totaling $5 billion in judgments and orders, during his speech at the 2023 Securities Enforcement Forum. He highlighted the economic impact of these actions and mentioned that the SEC filed over 780 enforcement actions in 2023, including more than 500 standalone cases.
Meta Under Legal Scrutiny as AI Advancements Raise Child Safety Concerns
Amid the rapid progress in artificial intelligence, particularly in text and generative AI, child safety concerns have prompted 34 U.S. states to file a lawsuit against Meta, the parent company of Facebook and Instagram. They allege that Meta has inappropriately influenced minors using its platforms. This legal action reflects the evolving landscape of AI technologies and their implications for child protection.
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