Crypto News
Developing AI That Keeps Humans Safe: EU Lawmakers Issue Urgent Call for ‘Trustworthy’ Technology
A group of lawmakers working on the European Union’s approach to artificial intelligence have called for the creation of global “governing principles” for the burgeoning technology, in response to fears about the pace of its development. A dozen members of the European Parliament signed a letter calling for U.S. President Joe Biden and European Commission President Ursula von der Leyen to convene a global summit, with a view to creating “a preliminary set of governing principles for the development, control, and deployment of very powerful artificial intelligence.” The framework is also expected to be developed with the aim “of steering development of very powerful artificial intelligence in a direction that is human-centric, safe, and trustworthy.” The signatories are members of a group that has been charged with putting together the EU’s own approach to regulation, known as the AI Act. The letter was in part a response to last month’s Future of Life Institute letter, published last month and signed by the likes of Elon Musk and Steve Wozniak, which suggested a six-month moratorium on further enhancements in AI.
The letter also urges companies and laboratories working with AI to “strive for an ever-increasing sense of responsibility” and to be open with regulators. Tudorache is one of two co-rapporteurs for the EU’s AI Act, alongside Italian MEP Brando Benifei. They were appointed to lead negotiations on the legislation in late 2021. Those working on the Act say it could be the first law on AI made by a major regulator anywhere in the world. It could also “serve as a blueprint for other regulatory initiatives in different regulatory traditions and environments around the world,” the MEPs said in their letter. The EU’s Council agreed on a common position on the AI Act in December last year. Next, the Parliament will agree on its position, after which the two institutions will negotiate in a process known as “trilogues.” The latest regulatory push comes as several governments around the world grow increasingly jittery about the prospect of fast-developing AI, with Italy banning OpenAI’s ChatGPT product earlier this month. Authorities in Canada, Germany, France, and Sweden have all expressed concerns about the popular chatbot. At the same time, the European Union has been making strides to keep up with digital technology. This week, parliamentarians will vote on landmark crypto regulation Markets in Crypto Assets (MiCA ), part of a broader package of digital reforms.
European Union lawmakers have recognized the need to create global governing principles for the development, control, and deployment of artificial intelligence. In response, they have called for a global summit to create a preliminary framework to ensure AI is human-centric, safe, and trustworthy. This week, parliamentarians will vote on landmark crypto regulation Markets in Crypto Assets (MiCA ), part of a broader package of digital reforms. This regulatory push comes as governments around the world express concerns about the potential dangers of AI. #AI #AIregulations #EU #Crypto #MiCA #regulation #FutureofLifeInstitute
You can read more about this topic here: Decrypt: EU Lawmakers Call for ‘Human-centric, Safe and Trustworthy’ AI Development
The post Developing AI That Keeps Humans Safe: EU Lawmakers Issue Urgent Call for ‘Trustworthy’ Technology first appeared on Byte Syze Crypto.
Bitcoin’s upward trajectory continued on Monday, with the cryptocurrency surging past $41,700 hours after hitting $40,000 on Sunday afternoon. Per data from CoinGecko, the price of Bitcoin currently stands at just over $41,600, up 5.6% on the day and over 11% on the week. Just one year ago, Bitcoin’s price stood at just under $17,000, with the cryptocurrency surging by over 144% in the past year. Bitcoin’s rally has seen its price reach levels not seen since April 2022, helping to boost the market cap of all cryptocurrencies to $1.61 trillion, up 3.6% in the past 24 hours. According to data from CoinGlass, Bitcoin’s price surge has seen over $166 million in short derivatives positions liquidated in the last 24 hours.
Bitcoin’s price movement over the weekend appears to be linked to renewed enthusiasm over the possible approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). In recent weeks, the regulator has met with applicants including Grayscale and BlackRock to discuss amendments to their applications, while analysts have zeroed in on three key dates in January when a window would open for the SEC to approve multiple applications simultaneously. Bloomberg Intelligence analysts have put the odds of the SEC approving a Bitcoin ETF in January at 90%, prompting renewed optimism among everyone from Coinbase CEO Brian Armstrong to JP Morgan analysts. Of course, the SEC could yet deny any or all of the pending applications; to date it has rejected every single spot Bitcoin ETF application to cross its desk.
This article outlines the recent surge in Bitcoin’s price and the possible approval of a spot Bitcoin ETF by the US SEC. Analysts have put the odds of the SEC approving a Bitcoin ETF in January at 90%, and the news has generated renewed optimism among many. However, the SEC could yet deny any or all of the pending applications, as it has done in the past. #Bitcoin #ETF #Cryptocurrency #SEC #Investment
You can read more about this topic here: Decrypt: Bitcoin Blasts Past $41,000 as $166 Million in Shorts Liquidated
The post Bitcoin Rockets to Record High of $41,000 – $166 Million in Shorts Liquidated first appeared on Byte Syze Crypto.
A French court cleared two brothers of criminal charges stemming from February’s $8.5 million Platypus Finance hack. Mohammed M., 22, orchestrated the complex flash loan attack and exploited a smart contract vulnerability to drain funds from the Avalanche-based automated market maker (AMM) project. However, the court ruled Mohammed’s unauthorized yet publicly accessible use of smart contracts did not constitute illegal computer system intrusion under criminal statutes. Furthermore, utilizing Platypus’s flawed emergency withdrawal mechanism to siphon tokens failed to pass legal tests for fraud in the judges’ view. The prosecution’s failure serves as a showcase for DeFi criminal enforcement’s emerging jurisdiction. Although defrauded protocols can still file a lawsuit for damages in a civil court, given the novelty and worldwide reach of decentralized networks, more clarification is needed under criminal regulations. This is good news for those involved, as they were able to avoid criminal charges. However, it highlights the difficulties enforcement agencies face in regulating decentralized networks. #CryptoCrime #DeFi #DecentralizedNetworks #SmartContracts
You can read more about this topic here: Watcher Guru: French Court Acquits Platypus Hackers of $8.5M Heist
The post French Court Rules Platypus Hackers Not Guilty of $8.5M Heist first appeared on Byte Syze Crypto.
Crypto News
ing the Implications Cryptocurrency Giant Bitcoin Reaches Record High of $40,000 – What Does it Mean?
Bitcoin’s recent rebound continued over the weekend, with the cryptocurrency passing the $40,000 mark on Sunday afternoon. It is the first time since April 2022 that Bitcoin has seen such a high price, representing a 15% climb over the past 30 days and more than doubling since this time last year. The increasing price reflects optimism surrounding the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Ethereum is also trading above $2,200 today for the first time since May 2022, and various NFT projects have seen rising prices this weekend. This is good news for cryptocurrency investors, as the market is showing continued signs of growth. #Bitcoin #Ethereum #Cryptocurrency #NFTs
You can read more about this topic here: Decrypt: Bitcoin Hits $40,000 for First Time Since April 2022
The post ing the Implications
Cryptocurrency Giant Bitcoin Reaches Record High of $40,000 – What Does it Mean? first appeared on Byte Syze Crypto.
Bitcoin Rockets to Record High of $41,000 – $166 Million in Shorts Liquidated
French Court Rules Platypus Hackers Not Guilty of $8.5M Heist
ing the Implications Cryptocurrency Giant Bitcoin Reaches Record High of $40,000 – What Does it Mean?
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