The Role of the UK and US AI Safety Agreement in Tech Evolution
AI safety agreement a joint endeavor between the UK and US governments to develop the promising growth potential and security of artificial intelligence technologies through a revolutionary approach. This engagement was formalized in early April 2024 by UK Technology Minister Michelle Donelan and US Secretary of Commerce Gina Raimondo under the UK-US Technology Transatlantic Strategic […]
Regulatory pressure spurs Binance to tighten US investor screening
In response to escalating regulatory pressure and recent legal challenges, Binance, the world’s leading digital asset trading platform, is taking decisive steps to strengthen its compliance measures. Binance tightens controls on US investors Sources familiar with the matter have disclosed that Binance has instructed prime brokers, including FalconX and Hidden Road, to significantly enhance their […]
US Army Special Forces Utilize AI-Enabled Weapon Simulator for Training
In a significant advancement in military training, the US Army Special Forces recently completed virtual shooting exercises employing an artificial intelligence-powered weapon simulator at the Human Performance Training Center in Fort Carson, Colorado. The exercise, conducted by soldiers from the 10th Special Forces Group – Airborne (10th SFG-A), showcased the effectiveness of VirTra, a cutting-edge […]
The crypto week ahead – US Fed’s rate cut decision hangs on inflation & retail sales
As investors and economists brace themselves for pivotal decisions on monetary policy from the US, the upcoming week in the United States is poised to be defined by two critical economic indicators: inflation and retail sales. Against the backdrop of ongoing concerns about inflationary pressures and the Federal Reserve’s stance on interest rates, market participants […]
US House Committee requests extended comment period on CFPB’s proposed digital asset rule
In a letter addressed to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, leaders of the United States House Financial Services Committee and Subcommittee on Digital Assets, Financial Technology, and Inclusion have called for an extended comment period on the proposed rule from the CFPB. The lawmakers expressed concerns regarding the rule’s potential impact on […]
AI Adoption – Chief Justice Roberts’ Cautionary Outlook for the Legal System
In a pivotal report released on Sunday, U.S. Supreme Court Justice John Roberts sounded a cautionary note on the adoption of artificial intelligence (AI) within the legal landscape. Emphasizing “caution and humility,” Roberts acknowledged the transformative potential of AI in increasing access to justice and expediting legal processes but warned against its inherent risks. The […]
China’s Strategic Pursuit of AI Secrets Unveiled Amidst Heightened U.S. Allegations
In a chilling revelation that transcends the realm of conventional espionage, the United States has raised the alarm on China’s sophisticated use of artificial intelligence not only for stealing trade secrets but also for turbocharging its espionage activities. The arrest of Xiaolang Zhang, a former Apple employee, merely scratches the surface of a broader and […]
Crypto knowledge takes center stage in 2024 US presidential election poll
In a recent survey conducted by The Harris Poll on behalf of Grayscale Investments, the role of cryptocurrency knowledge among US presidential candidates in the upcoming 2024 election has come into focus. Approximately 73% of the 2,090 adults polled believe presidential candidates should be well-informed about innovative technologies, including cryptocurrency and artificial intelligence (AI). The […]
U.S., South Korea, and Japan join forces to tackle North Korea’s Lazarus Group crypto hackers
In a significant development, the United States, South Korea, and Japan have taken a decisive step towards collaborative cybersecurity efforts to tackle the persistent threat North Korea’s Lazarus Group crypto hackers pose. The emergence of North Korea as a key player in the realm of cyber warfare has raised alarms among nations striving to protect […]
CFTC sees a peak in US crypto enforcement via Binance settlement
In a recent development, a senior US regulator has hailed the $4.3 billion settlement reached with cryptocurrency exchange Binance as a pivotal moment in the ongoing regulatory crackdown on the crypto industry. The settlement, a consequence of Binance’s violations of US anti-money laundering and sanctions laws, has the potential to serve as a governance blueprint […]
US space force engineer advocates Bitcoin as 21st century offset strategy
In a groundbreaking letter addressed to the US Department of Defense, Major Jason Lowrey, a prominent US Space Force astronautical engineer and MIT Fellow, has argued that Bitcoin and its underlying proof-of-work technology represent a powerful 21st-century offset strategy. Lowrey contends that this technology can revolutionize the realms of cybersecurity and national security, ushering in […]
AI Drives Traditional Chinese Medicine into the US
In a paradigm-shifting fusion of ancient healing practices and cutting-edge technology, the Center of Chinese Herbal Medicine Drug Development Limited (CHM) in Hong Kong has embarked on a transformative journey. Here, at the intersection of tradition and innovation, AI takes center stage, unlocking the potential of traditional Chinese medicine (TCM) to address pressing healthcare challenges […]
Is DHS’s AI-Powered Initiative the Answer to Biden’s Disinformation Dilemma?
In a surprising move reported by the magazine Politico, the Biden administration, at the helm of the Department of Homeland Security (DHS), has announced the formation of a Disinformation Governance Board, incorporating artificial intelligence (AI) into their arsenal against disinformation. Secretary Alejandro Mayorkas declared the new front in the war against disinformation during a recent […]
Biden Mobilizes Federal Agencies to Tackle AI Risks
In an epoch-making maneuver poised to redefine the contours of the AI landscape, U.S. President Joe Biden is on the verge of promulgating an executive order on artificial intelligence, as delineated in a report by Politico on Friday. The preliminary version of the order unveils a meticulously crafted strategic initiative, strategically calibrated to harness the […]
Concerns Mount as ‘AI Divide’ Expands its Reach Across the US Economy
In an era dominated by the relentless advance of technology, artificial intelligence (AI) has become both the beacon of innovation and a source of economic disparity across the United States. The rise in AI adoption, a staggering 266% in the last five years, has prompted a group of economists to delve into the intricate details […]
U.S. Export Controls Hinder Nvidia’s AI Chip Sales to China
In a significant development, Nvidia has revealed that the latest U.S. export restrictions are set to impede the sales of two highly advanced AI chips specifically designed for the Chinese market. The move, outlined in a filing late on Tuesday, comes as part of the U.S. government’s efforts to curb the transfer of cutting-edge technologies […]
Singapore and US Forge AI Governance Alliance for Responsible Innovation
In a significant stride towards fostering responsible innovation, Singapore and the United States have collaboratively aligned their artificial intelligence (AI) governance frameworks. The Infocomm Media Development Authority (IMDA) of Singapore and the US National Institute of Standards and Technology (NIST) successfully completed a joint mapping exercise, aligning IMDA’s AI Verify and NIST’s AI RMF. The […]
U.S. Tightens Grip on AI Chip Exports to China, Curtailing Indirect Access
In a significant move to fortify restrictions on the export of advanced AI chips to China, the United States is set to unveil new rules aimed at preventing American chipmakers from selling semiconductors that might bypass existing government limitations. The Biden administration, intensifying its efforts to curb the export of cutting-edge technology to China, is […]
Malawi Debuts its Inaugural AI Center “CAIST,” Backed by U.S. Higher Education
In a historic stride towards technological advancement, Malawi University of Science and Technology launched its inaugural Centre for Artificial Intelligence and STEAM (Science, Technology, Engineering, Arts, and Mathematics) on Friday. Backed by a collaboration with prominent U.S.-based universities, the Center, known as CAIST, sets the stage for Malawi’s foray into the world of artificial intelligence […]
U.S. Considers Closing AI Chip Access Loophole for Chinese Companies Abroad
In a move that could significantly impact the global AI chip landscape, the Biden administration is actively considering closing a loophole that grants Chinese companies access to American artificial intelligence (AI) chips via their overseas subsidiaries. This development comes as part of the ongoing effort to tighten restrictions on chip exports to China, particularly those […]
U.S. Criticizes Europe’s AI Law, Citing Concerns over Vagueness and Impact on Small Firms
In a move that underscores growing transatlantic tensions over artificial intelligence (AI) regulations, the U.S. State Department has expressed reservations about the European Union’s (EU) AI Act. According to undisclosed documents obtained by Bloomberg, the U.S. government analysis contends that the AI Act, approved by the European Parliament in June, contains terms that are “vague […]
Israel’s Advanced AI Integration and U.S. Funding Highlighted Amidst Ongoing Conflict
Israel has declared a state of war following a militant attack by Hamas on border towns in the early hours of Saturday. The attack has resulted in over 100,000 people displaced in Gaza as Israel retaliates, with the Iron Dome air defense system playing a crucial role in protecting Israeli skies. Hamas, a Palestinian militant […]
US’s recession odds are high, which is good news for the crypto market
The United States (US) economy this year has seen increasing concerns about a potential recession amid a notable surge in interest rates and market volatility. The current environment, marked by rising interest rates, elevated oil prices, and a stronger dollar, is shifting the prevailing market consensus on the trajectory of US economic growth away from […]
US Restricts AI Chip Exports to Middle East Amidst Growing Tech War with China
In a mysterious turn of events just over a month ago, Nvidia, a prominent US technology firm renowned for producing cutting-edge computer chips, announced that the US government was imposing restrictions on the export of its most advanced chips to “some Middle Eastern countries.” The lack of specificity surrounding the impacted nations and the rationale […]
Bitcoin’s tussle with uncertainty as US government shutdown looms hours away
The U.S. government shutdown is less than 24 hours away and Bitcoin’s performance outcome remains uncertain. Today also marks exactly four months since the debt ceiling crisis. Since the apparent resolution of the debt ceiling crisis, the U.S. has accumulated an additional $3 trillion in debt and now faces the imminent possibility of a government […]
The Impact of AI on BRICS Economies: Opportunities and Challenges
Artificial intelligence (AI) ‘s influence on emerging markets economies has garnered significant attention and discussion in an era marked by growing digitization. Among the BRICS nations—Brazil, Russia, India, China, and South Africa—the potential ramifications of AI are a topic of both anticipation and apprehension. Recent developments, such as Chinese President Xi Jinping’s announcement at the […]
UK and US Join Forces to Combat Surge in AI-Generated Images of Child Abuse
In response to the disturbing proliferation of artificial intelligence (AI)-generated images depicting child sexual abuse, the United Kingdom and the United States have announced a collaborative effort to combat this “sickening rise.” The Internet Watch Foundation (IWF) recently raised an alarm about the increasing prevalence of AI-generated child abuse imagery circulating online, some depicting victims […]
Homefront squeeze: Escalating US housing costs amidst worrying inflation
The impact of inflation is felt by Americans, especially in expenses like gas and groceries. While inflation has moderated compared to a year ago, housing costs, categorized under shelter, significantly contribute to the overall Consumer Price Index (CPI) increase. In August, shelter costs rose by 0.3%, marking the 40th consecutive monthly increase and showing a […]
Is AI Diplomacy the New Frontier of Global Influence for the U.S.?
In a significant departure from traditional trade-centric foreign policy, the United States is poised to assert its dominance in the field of artificial intelligence (AI) diplomacy, serving as a linchpin for shaping the 21st-century global order. With China’s surging AI capabilities and the diminishing returns of trade liberalization, U.S. leadership in AI has become a […]
US government shutdown threat looms as parties fail to reach spending cuts deal
US House Republicans are gearing up to use the looming threat of a government shutdown as an opportunity to confront Democrats over border enforcement. This tactic aims to put aside internal disagreements among GOP lawmakers regarding the extent and location of federal spending cuts while simultaneously setting the stage for a potential showdown with Democrats. […]
US stocks fall, treasury yields rise as Fed’s next move remains uncertain
US stocks experienced a significant decline, while Treasury yields saw an increase. This downturn was attributed to a sharp drop in chip stocks and mixed economic data, which decreased investor risk appetite. That marked a negative finish to a turbulent week. All three major US stock indices concluded the day with substantial losses, particularly impacting […]
US government suspected of owning $2.46 billion in Bitcoin
Recent findings suggest that the US Government might control the global fifth-largest Bitcoin (BTC) wallet, containing 94,643 BTC, equivalent to $2.46 billion. This revelation came from the esteemed cybersecurity firm, Peckshield. The wallet is believed to have direct ties to the 2016 Bitfinex hack. Investigations have unveiled a connection between the hack’s seizure address and […]
US Senate approves legislation mandating reporting of investments in Chinese technologies
The US Senate has backed legislation that mandates US companies to report any investments in Chinese technologies. The National Defense Authorization Act (NDAA) amendment was supported by a vote of 91 to 6. The NDAA, which sets policy for the Department of Defense, is expected to become law later this year. This amendment is a […]
US Senate introduces bill that could make DeFi look like traditional banking
The U.S. Senate is preparing to reshape the landscape of the crypto industry with a proposed bill, the Crypto-Asset National Security Enhancement Act of 2023. This bill will primarily impose stringent anti-money laundering (AML) requirements on decentralized finance (DeFi) protocols, which are financial applications that enable borrowing, lending, and trading of cryptocurrency via smart contracts. […]
US top 23 banks pass severe recession test: Report
In a recent report issued on June 28, the American central bank announced that all 23 of the country’s largest banks have passed the “stress tests” and would be able to withstand a severe recession. However, the report also highlighted some weaknesses among midsize and regional banks in the US, although they were not required […]
Chinese credit rating agency downgrades US credit amid debt ceiling crisis
China’s leading credit rating agency, Chengxin International Credit Rating (CCXI), has downgraded the US credit rating, raising concerns about escalating political discord, spiraling inflation, and the unrelenting deadlock over the US debt ceiling. The downgrade to AAg+ from the previous AAAg is a consequential move that reflects growing anxiety over the fiscal health of the […]
IRS expands crypto question on tax forms 1040
The US Internal Revenue Service has continued looking for extended crypto investors’ details. The ongoing global changes and increased regulations demand detailed answers from taxpayers regarding crypto. IRS has expanded the area in form 1040, which included a query about crypto investments. The updated form has been expanded and includes some new questions. It had […]
Crypto regulation: US and UK regulators join hands
The need for crypto regulation has been felt since the market has continued to see a tremendous influx of capital. The increase has continued to make it a trillion-dollar market. Though there were minor regulators rules, little attempt has been made to work on an elaborate plan for regulation. The recent bearish changes and the […]
