FameEX Morning Crypto News Recap | October 19, 2023

IMF Chief Kristalina Georgieva Advocates Accelerating 'Financial Inclusion' via Digitalization

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), believes that digitalization can enhance "financial inclusion." She emphasized the effectiveness of digitalization in achieving this goal and urged the expansion of initiatives aimed at promoting financial inclusion.

OpenAI Collaborates with G42 in Dubai to Explore Middle East Expansion

OpenAI and Dubai's G42 have unveiled a partnership to bolster AI capabilities in the Middle East. They intend to harness OpenAI's generative AI models in sectors where G42 specializes, such as financial services, energy, healthcare, and public services. This collaboration aims to drive AI advancement and adoption throughout the Middle East region.

Inspector General Calls for Refinement of Crypto Risk Assessment Process and Guidance at FDIC

US Inspector General's Office (OIG) of the FDIC has issued an evaluation report on the corporation's crypto asset risk strategy. The report recommends that the FDIC assess and present its risk mitigation measures more systematically. Although a redacted version of the report is publicly available, it highlights the importance of improved risk assessment and communication regarding cryptocurrency assets.

Universal Music Group Forms Partnership to Safeguard Artists' Rights from AI Infringements

Universal Music Group has joined forces with BandLab Technologies in a partnership centered on ethical AI utilization to safeguard the rights of artists and songwriters. Their primary objective is to ensure the ethical use of AI while prioritizing the protection of creative rights within the music industry.

ECB Initiates 'Preparation Phase' for Digital Euro, Emphasizing Data Protection

The European Central Bank (ECB) is advancing its digital euro project into the "preparation phase" after a two-year investigation. This phase will involve finalizing the digital euro rulebook and choosing potential providers to develop the necessary platform and infrastructure for the digital currency.

Swiss Bank Introduces Crypto Lending Product for Clients

Dukascopy, a Swiss online bank, has unveiled a lending product that permits customers to use their cryptocurrency as collateral for loans. This offering enables users to access up to 50% of their digital asset's value in fiat currency while retaining ownership of their original cryptocurrency holdings.

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