Cyprus to Tighten Crypto Regulations Following FATF Rules
Cyprus, one of the most crypto-friendly jurisdictions in Europe, may tighten its industry’s regulations to amend the current Prevention and Suppression of Money Laundering Law. The ministry has presented its package of amendments to the Committee on Legal Affairs of the Parliament. It seeks to align Cyprus with international standards for anti-money laundering and combating […]
Saudi Arabia, China Partner to Create Arabic-based AI System
Saudi Arabia’s King Abdullah University of Science and Technology (KAUST) has collaborated with two Chinese universities to develop an artificial intelligence (AI) system focusing on Arabic. AceGPT is a large language model (LLM) built on Meta’s LlaMA2 and introduced by a Chinese-American professor at KAUST in collaboration with the School of Data Science, the Chinese […]
EU Reportedly Calls for Additional Restrictions for Large AI Models
According to a Bloomberg report, European Union (EU) representatives are negotiating a plan for additional restrictions on large artificial intelligence (AI) models – like OpenAI’s GPT-4. The European Commission, European Parliament, and various EU member states are reportedly in discussions regarding the potential effects of large language models (LLMs), such as Meta’s Llama 2 and […]
Ukraine Ministry Launches AI Regulation Roadmap
Ukraine’s Ministry of Digital Transformation presented its regulatory roadmap for artificial intelligence (AI) that seeks to assist local businesses in preparing to adopt a law similar to the AI Act of the European Union. According to the roadmap’s announcement, it is founded on a bottom-up approach that proposes moving from less to more, and it […]
Binance, OKX to Comply With UK’s New Financial Promotions Rules
Major global cryptocurrency exchanges such as Binance and OKX have announced that they are striving to comply with the United Kingdom’s new financial promotion regulations. On October 8, the Financial Conduct Authority (FCA) of the United Kingdom enacted the country’s new Financial Promotions (FinProm) Regime for cryptocurrency firms to ensure equitable, clean, and transparent cryptocurrency […]