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FameEX Morning Crypto News Recap | November 21, 2023

2023-11-21 12:24:00

Canadian Regulatory Body Solicits Input on Disclosure Requirements for Crypto Asset Exposure

Canada's Office of the Superintendent of Financial Institutions (OSFI) has launched a consultation phase for federally regulated financial institutions regarding crypto-asset disclosure rules. This move aligns with the 2023 federal budget and coincides with a Bank for International Settlements (BIS) inquiry into the same subject.

Microsoft and Nvidia Stocks Surge to Historic Peaks Amid Leadership Changes at OpenAI

Microsoft's stock achieved a record high of $378.81 on November 20, driven by turbulence in the AI sector following the removal of OpenAI CEO Sam Altman. Nvidia also reached an all-time high at $499.60, continuing its upward trajectory from a one-year low of $138.84. These developments highlight the industry's volatility and investor optimism in AI-related companies.

Sam Altman and Greg Brockman Join Microsoft Following OpenAI Departure

Microsoft CEO Satya Nadella announced via X that the company is bringing in former OpenAI CEO Sam Altman and President Greg Brockman to lead a newly formed advanced AI research team. Nadella expressed his enthusiasm about this move, underscoring Microsoft's dedication to advancing AI research. The additions of Altman and Brockman reflect Microsoft's commitment to staying at the forefront of AI innovation.

Singapore's Monetary Authority Advocates AI Sustainability, Draws Insights from the Crypto Space

Singapore is applying lessons from its experiences with Web3 and digital currencies to its approach to AI. The Monetary Authority of Singapore (MAS) aims for a long-term, consumer-safe AI strategy. MAS Executive Sopnendu Mohanty emphasized learning from past hasty approaches in the digital space to ensure sustainability and consumer protection in AI initiatives.

Canadian Regulator Launches Consultation on Reporting Requirements for Banks Regarding Cryptocurrency

The Office of the Superintendent of Financial Institutions (OSFI) in Canada is soliciting feedback on reporting guidelines for banks regarding cryptocurrency exposures. This move is driven by a desire to mitigate risks in the financial system associated with digital innovations, especially within the unregulated cryptocurrency market.

U.S. Treasury Secretary Cautions on Ongoing Inflation Amidst Economic Challenges

U.S. Treasury Secretary Janet Yellen discussed key economic topics on CNBC's "Squawk Box" with Andrew Ross Sorkin on November 20, 2023. The conversation encompassed the economic outcomes of the meeting between President Biden and Chinese President Xi Jinping, the state of the U.S. economy, the persistent battle against inflation, and geopolitical considerations.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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