FameEX Morning Crypto News Recap | October 19, 2023

IMF Head Kristalina Georgieva Urges Expeditious 'Financial Inclusion' via Digitalization

Kristalina Georgieva, IMF's Managing Director, sees digitalization as a catalyst for improving "financial inclusion." She underscores the potency of digital solutions in advancing this objective and advocates for the expansion of initiatives dedicated to fostering financial inclusion.

OpenAI Teams Up with G42 in Dubai for Middle East Growth Initiative

OpenAI and Dubai's G42 have joined forces to enhance AI capabilities in the Middle East. Their plan involves leveraging OpenAI's generative AI models in G42's areas of expertise, including financial services, energy, healthcare, and public services. This strategic partnership seeks to accelerate AI progress and adoption across the Middle East region.

Inspector General Urges Enhanced Crypto Risk Assessment Process and Guidance at FDIC

US FDIC's Inspector General's Office (OIG) has released an evaluation report on the FDIC's crypto asset risk strategy. The report suggests that the FDIC should systematically assess and present its risk mitigation measures more effectively. A redacted version of the report is accessible to the public, emphasizing the need for improved risk assessment and communication concerning cryptocurrency assets.

Universal Music Group Collaborates to Protect Artists' Rights Against AI Violations

Universal Music Group and BandLab Technologies have established a partnership aimed at promoting ethical AI practices to protect the rights of artists and songwriters. Their central mission is to ensure the responsible use of AI while giving paramount importance to the preservation of creative rights in the music sector.

European Central Bank Launches 'Preparation Phase' for Digital Euro with a Focus on Data Protection

The European Central Bank (ECB) is progressing its digital euro project into the "preparation phase" following a two-year assessment. During this phase, the focus will be on finalizing the digital euro rulebook and selecting potential providers responsible for developing the essential platform and infrastructure for the digital currency's implementation.

Swiss Bank Launches Crypto Lending Product for Its Clients

Swiss online bank Dukascopy has launched a lending product allowing customers to use their cryptocurrency holdings as collateral for loans. This solution enables users to access 50% of the value of their digital assets in fiat currency while retaining ownership of their original cryptocurrency investments.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​