BITCOIN

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that artificial intelligence (AI) could spark a financial crisis in the next decade. Noting that he has raised this concern at the Financial Stability Board and at the Financial Stability Oversight Council, the SEC chief stressed: “I think it’s really a cross-regulatory challenge.” SEC Chair Gary Gensler’s AI Warning The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, warned in an interview with the Financial Times, published Monday, that a financial crisis caused by artificial intelligence (AI) is “nearly unavoidable” in the next decade without prompt regulatory action. Gensler opined: “It’s frankly a hard challenge. It’s a hard financial stability issue to address because most of our regulation is about individual institutions, individual banks, individual money market funds, individual brokers; it’s just in the nature of what we do.” The SEC chief continued: This is abou

Swiss online bank Dukascopy has introduced a new lending product that enables customers to borrow against their cryptocurrency. The solution allows users to receive 50% of the value of their digital assets in fiat currency while retaining their original crypto investments. Switzerland-Regulated Dukascopy Bank Launches Automated Crypto Lending Feature Geneva-headquartered Dukascopy Bank is now offering clients an option to borrow cash in U.S. dollars while keeping their investments in cryptocurrency. Under the bank’s new lending program, they can receive a loan for 50% of the value of their crypto assets in fiat equivalent. To take advantage of the feature, customers need to open a multi-currency bank account (MCA) and transfer the crypto they want to use. Then they can find the digital assets in the “Investments” section and select the “Crypto lending/borrowing” option. The bank said in a press release: In your MCA account, you will find 50% of your investment market value in fi

The U.S. Securities and Exchange Commission (SEC) has published its examination priorities for 2024 which include crypto monitoring and examinations. The securities regulator disclosed: “Examinations of registrants will focus on the offer, sale, recommendation of, advice regarding, trading in, and other activities in crypto assets or related products.” Division of Examinations’ 2024 Priorities The U.S. Securities and Exchange Commission (SEC) announced Monday that its Division of Examinations has published the “2024 examination priorities to inform investors and registrants of the key risks, examination topics, and priorities that the division plans to focus on in the upcoming year.” The securities regulator described: “This year’s examinations will prioritize areas that pose emerging risks to investors or the markets in addition to core and perennial risk areas.” The SEC detailed: Given the continued volatility of, and activity around, the crypto asset markets, the division will

Larry Fink, the CEO of the world’s largest asset manager, Blackrock, sees the recent bitcoin rally as “an example of the pent-up interest in crypto.” Noting that as the Israel-Hamas war rages on, more people will be running to bitcoin as “a flight to quality,” the executive emphasized: “We are hearing from clients around the world about the need for crypto.” ‘The Rally Today Is About a Flight to Quality’ Blackrock CEO Larry Fink offered his perspective on the bitcoin rally Monday following a rumor that the U.S. Securities and Exchange Commission (SEC) had approved his company’s spot bitcoin exchange-traded fund (ETF) application. While emphasizing that he cannot discuss “the specifics of anything,” Fink said on Fox Business: I think it’s just an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto. The rumor was spread by crypto news outlet Cointelegraph which posted on social media platform X early Monday morning th