CNA’s $20M Insurance Coverage Trust Policy Excludes NFTs
CNA Financial, the seventh-largest commercial insurer in the United States, has excluded coverage for nonfungible tokens (NFTs) from the $20 million policy of Schwab Strategic Trust. In a filing with the US Securities and Exchange Commission (SEC), CNA stated that the bond does not cover “any loss, injury, claim, occurrence, or suit relating to NFTs. […]
Binance.US Responds to SEC’s Filing Calling it ‘Unreasonable’
Binance exchange.US has responded to the United States Securities and Exchange Commission‘s (SEC) motion to compel and reply, labeling the majority of the SEC’s requests “unreasonable” and “unduly burdensome.” Attorneys for BAM Trading Services, which administers the Binance.US cryptocurrency exchange, submitted sealed opposition documents to the U.S. SEC on September 12, requesting additional information from […]
France Launches Certificate for Finance Influencers
In response to the present pressure on finance influencers also called “finfluencers” who promote investment products and crypto on their blogs, France is moving toward requiring them to obtain non-obligatory Responsible Influence Certificate. As disclosed on September 7th, two French regulatory agencies, the Autorité des Marchés Financiers and the Autorité de Régulation Professionnelle de la […]
G20 Nations Stress Responsible Use of AI Technology
In addition to planning for a future involving crypto assets and central bank digital currencies (CBDC), the G20 member nations have committed to responsibly utilizing artificial intelligence (AI) technology. The G20 leaders’ declaration highlighted the role of technology in bridging digital divides worldwide. In doing so, it acknowledged the G20’s interest in developing policies and […]
Meta Reportedly Builds OpenAI Rival AI Model
According to a Wall Street Journal exclusive, Meta, Facebook and Instagram’s parent company, is developing a more powerful and open-source artificial intelligence (AI) that will rival OpenAI’s most advanced model. WSJ reported that individuals who know the situation stated that Meta intends for its new AI model to be “several times” more potent than the […]