The European Union has passed a draft bill that will classify AI tools according to their risk level and impose stricter transparency procedures for high-risk tools. The bill is part of the EU’s Artificial Intelligence Act and aims to address concerns around the use of copyrighted materials in AI training. (Read More)

Google Cloud will provide framework and developer tools to aid Polygon Labs’ Ethereum scaling protocol. The partnership aims to streamline developer integration for decentralized applications on Polygon. (Read More)

Indiana and Maine universities publish a study examining US cryptocurrency tax law. The paper proposes a new tax framework for cryptocurrency losses, which would prevent taxpayers from using them against other capital gains. (Read More)

Mastercard announced an entirely new, innovative step In their ongoing work with blockchain technology. Mastercard Crypto Credential in association with Polygon, Solana, and AVan, among others. With the rise of cryptocurrency, traditional financial institutes have not been left behind in getting ways to adopt cryptocurrencies in their firms. At the Consensus 23 conference in Austin, […]

Google expands its Web3 program with 11 blockchain partners, while the UK government commits $125 million to accelerate its AI readiness. FTX is set to sell LedgerX for $50 million, and Binance.US backs out of a $1 billion Voyager asset purchase, citing regulatory concerns. (Read More)

The New York Department of Financial Services and the US Federal Reserve Board have published their internal reviews on the handling of Signature Bank and Silicon Valley Bank’s failures. The string of bank failures, including Silvergate Bank’s voluntary liquidation, has prompted regulators to re-evaluate their supervision. (Read More)

The US House Financial Services and Agriculture Committees, along with the Digital Assets, Financial Technology and Inclusion Subcommittee, and the Commodity Markets, Digital Assets, and Rural Development Subcommittee will hold joint hearings in May to establish regulatory clarity for the digital asset ecosystem. Representative Patrick McHenry, the House Financial Services Committee chairman, has announced that […]

Twitter users can now monetize their content via a new subscription service, allowing creators to charge followers a monthly fee for access to exclusive content. Twitter has partnered with Stripe to payout creators and will take a 3% cut up to $50,000, after which the revenue split drops to 80%. The feature is part of […]

Mastercard has launched a new Web3 solution called “Mastercard Crypto Credential” aimed at enhancing user verification standards in the digital asset space. The solution is designed to provide a unique identifier to users, enabling them to instantly verify that an address they want to send funds to has been vetted by Mastercard and has been […]

Italy’s data protection agency banned OpenAI’s ChatGPT chatbot in March 2023 for allegedly violating GDPR. The ban was lifted in April after the company complied with the regulator’s transparency demands and implemented age-gating measures. (Read More)