In this weeks crypto news summary, all the important crypto stuff from last week are summarized for you below so that you are completely up to date again before you head into the weekend. Read on to find out!
Netherlands helps Ukraine fight crypto crime
Developed countries have extensive knowledge regarding fighting crime through the financial system, as do governments. Ukraine is facing Russian aggression, making it involved in the largest war on European soil since World War II. Because of this, Ukraine is receiving help from law enforcement officials from Western countries to support them in dealing with crime within the crypto industry.
The U.S. tax authority, the Internal Revenue Service (IRS), announced through a press release that it will work with the Netherlands' Fiscal Intelligence and Investigation Service (FIOD) and the United Kingdom's His Majesty's Revenue and Customs (HMRC) to support Ukraine in the fight against cybercrime.
From September 18 to September 21, the aforementioned organizations provided Ukrainian cybercrime analysts with training sessions. These were specifically training on combating crime within the crypto industry.
Present at these training sessions were from Ukraine the cyber security department of the national police, the intelligence agency, the anti-corruption agency and the Ministry of Justice.
Bitcoin ETF Delayed Again
The Bitcoin Exchange-Traded Fund (ETF) was on the verge of being approved by the U.S. Securities and Exchange Commission (SEC). However, it has been delayed once more, this time until January. Initially, this date was set for October 16th. Bitcoin exchange-traded funds could submit spot applications for listing on the U.S. exchange before this date. Now, the submission of these applications has been postponed to a yet-to-be-determined date.
An ETF is an investment instrument traded on exchanges, similar to stocks, allowing investors to easily and efficiently invest in an underlying asset, such as Bitcoin
. Despite various applications for the approval of a Bitcoin ETF, regulators like the U.S. Securities and Exchange Commission (SEC) have not granted approval thus far. The SEC has rejected or delayed several ETF applications for various reasons, including concerns about market manipulation, lack of regulation, and security issues.
Microsoft leaks crypto plans Xbox
There are leaked documents from Microsoft that point to exciting crypto plans. According to these documents, Microsoft is considering adding crypto wallets to the Xbox, their popular gaming console.
The documents Microsoft leaked show an Xbox "roadmap" from May 2022. This roadmap includes support for a crypto wallet. No further information about the integration is visible.
The leak of the documents comes as a result of the lawsuit pending between Microsoft and the Federal Trade Commission. In the process, Microsoft accidentally sent the wrong documents. The documents in question have since been removed from the site.
It is hard to say whether Xbox's plans to use crypto are still relevant. If these plans are still current, what would this actually mean? It would be a huge step forward in crypto adoption for such a well-known product to embrace it. As Winklevoss noted, crypto is an interesting market for the gaming industry. Many gaming companies are already cautiously trying to integrate crypto.
Mark Zuckerberg unveils Meta AI chatbot as answer to ChatGPT
At the recent Meta Connect event led by CEO Mark Zuckerberg, the highly anticipated Meta AI was unveiled. This artificial intelligence assistant, developed in response to OpenAI's ChatGPT, will seamlessly integrate with popular social platforms such as Instagram, Facebook and WhatsApp, and eventually Meta's mixed reality devices. This partnership will enable users to access information from the Internet in real time, allowing the AI assistant to perform a wide range of tasks.
One notable feature of the recently unveiled Meta AI is its ability to generate images using an advanced tool called Emu. Meta trained Emu on an impressive dataset of 1.1 billion pieces of data, including photos and captions shared by users on Facebook and Instagram. This allows Meta AI to not only answer questions and talk to users, but also generate visual content, providing an engaging and versatile experience.
What sets Meta apart from competitors such as ChatGPT is its overall strategy. Zuckerberg emphasized that Meta aims to create different AI products for different use cases, as opposed to aiming for a unified chatbot. He explained that Meta's chatbots are not only informative, but also focused on conversation and entertainment. This highlights Meta's commitment to delivering engaging and entertaining interactions with their AI