Author: NBTC

The United Nations Artificial Intelligence advisory body has released its final report, outlining seven key recommendations to address AI-related risks and governance gaps. The report was released on Thursday and will be presented at a U.N. summit in September. The 39-member body appointed by the UN last year has suggested the establishment of a global body to offer objective and credible scientific information on AI. This panel would help to equalize the state of information between the AI developers and the rest of the population by providing a comprehensive view of the subject and its developments. Advisory body warns of…

Binance, one of the world’s largest cryptocurrency exchanges, recently found itself at the center of controversy after listing a large number of memecoins. In response to criticism from the crypto community, Binance co-founder He Yi published an in-depth article detailing the platform’s listing process and addressing concerns raised by users. In the article, He Yi explained that Binance’s listing process involves a four-step procedure: business development, research team evaluation, committee review, and compliance audit. He also expressed ongoing discussions about Binance’s listing decisions and the community’s concerns about the platform’s recent direction: “Recently, there has been a heated debate in…

RedStone, a modular blockchain oracle provider, announced today it is bringing its oracle solutions to the TON blockchain. With this move, RedStone becomes the first oracle provider to integrate data feeds into TON, the team said. Oracles play a key role in enabling smart contracts to access external data that is not inherently available on the blockchain, such as real-time asset prices. The integration of RedStone’s oracle data feeds will provide reliable, real-time data to TON’s DeFi ecosystem, ultimately fostering the building of complex financial protocols, according to RedStone. The team said that integrating with TON requires overcoming its unique…

As United States Senator Cynthia Lummis presented the official Strategic Bitcoin Reserve bill, which, among other objectives, aims to boost transparency in the Federal government’s management of its Bitcoin (BTC) holdings, its adoption might impact the price of the maiden cryptocurrency. As it happens, days after suggesting the adoption of a strategic Bitcoin reserve as backing for the U.S. dollar (USD), Lummis presented the ‘Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide’ or the ‘BITCOIN Act of 2024’, in the U.S. Senate on July 31. Indeed, according to the text of the Wyoming Republican Senator’s suggested legislation, its goal…

According to IntoTheBlock, over 150,000 ETH were deposited to exchanges in the past day, marking the highest single-day inflow since January, raising concerns about a potential Ethereum sell-off. In its tweet, IntoTheBlock noted that such substantial inflows often indicate rising selling pressure, as users may be looking to capitalize on recent price movements — whether to secure profits or limit further losses. Over 150.000 $ETH was deposited to exchanges yesterday, the highest since JanuarySuch substantial inflows often indicate rising selling pressure, as users may be looking to capitalize on recent price movements—whether to secure profits or limit further losses. pic.twitter.com/G6GoAsQwbR…

The Bank of Canada has reportedly shifted its focus away from the idea of introducing a digital Canadian dollar. The Bank of Canada seems to be shifting its focus away from developing a government-backed digital currency, seven years after it first began exploring the idea in response to the rapid digitalization of payments. Per a CBC News report, the Canadian central bank appears less inclined to pursue the so-called digital Loonie. As of press time, the Bank of Canada made no public statements on whether it has paused its research efforts toward developing the digital currency. In a commentary to…

Mofi, a protocol engineer at software development company OP Labs, hinted at a major upgrade on the Optimism mainnet. The proposed upgrade targets tackling a few security vulnerabilities discovered by Spearbit, Cantina and Code4rena during security audits. Noteworthy, the proposal is only a matter of caution as there have yet to be any exploit reports on these vulnerabilities. Hence, users’ assets remain safe. Optimism introduces L2 hard fork Optimism has proposed introducing a set of smart contract upgrades and an L2 hard fork to fix these loopholes. Today, @OPLabsPBC posted an upgrade proposal detailing findings from a recent series of…

Crypto industry leaders are challenging the SEC’s recently coined terminology of “crypto asset security.” Legal experts argue that this term is not grounded in established U.S. law or regulative frameworks. Key figures from Coinbase and Ripple have publicly criticized the SEC’s inconsistent treatment of digital assets. Discover the latest challenges facing the SEC as top legal officers from Coinbase and Ripple contest its terminology and approach towards crypto regulation. Coinbase CLO Disputes SEC’s “Crypto Asset Security” Term Paul Grewal, Coinbase’s Chief Legal Officer, recently took to social media to voice his concerns regarding the SEC’s term “crypto asset security.” He…

Crypto.com, a leading global crypto exchange, has received a crypto payment service provider license in the Kingdom of Bahrain from the Central Bank of Bahrain. The exchange had already received a license from Dubai’s VARA in the UAE. According to the Crypto.com press release, this is part of its expansion in the GCC region. Crypto.com received a payment service provider (PSP) services from the Central Bank of Bahrain through its subsidiary registered in the Kingdom of Bahrain under the commercial name “FORIS GFS BH B.S.C. CLOSED”. The PSP license will allow Crypto.com to expand its offerings of e-money and fiat-based…

Gold tokenization will be launched on Cardano through a partnership between founding partner EMURGO and Kinka Gold (XNK), a subsidiary of the Japanese neo-financial services company. EMURGO announced the latest collaboration in an official press release today. The report states that the Cardano blockchain ecosystem will soon integrate its first major gold-backed token, XNK, with EMURGO serving as a technology partner. Kinka’s XNK token is backed by gold as each ounce represents premium Japanese gold that meets the highest LBMA standards. This gold is destined for use on the Osaka Exchange and stored in vaults around the world that are…