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The U.S. Copyright Office seeks insight on copyright concerns related to Artificial Intelligence (AI), particularly the use of copyrighted works to train AI and issues around AI-generated content. Pressing issues include AI’s capacity to mimic human artists. Media and entertainment industries grapple with unauthorised use of copyrighted materials for AI training. This discourse on AI, copyright, and regulation intertwines ethics, transparency, and surveillance matters.

The US IRS has issued draft guidelines on reporting rules for digital asset brokers. Aimed at regulating the digital asset industry, this regulation intends to streamline tax reporting and prevent fraud, proposing to raise $28 billion in fresh tax over a decade. Critics label it as “misguided” and “an attack on the digital asset ecosystem.”

“Emerging economies are becoming cryptocurrency adoption centers due to unstable fiat currencies and limited banking access. However, a study by the Bank for International Settlements suggests that cryptocurrencies have “amplified financial risks”. The authors propose regulation rather than an outright ban, aiming to channel innovation into socially useful directions.”

The SEC’s expected approval of multiple Ether futures ETFs signals a significant shift in crypto regulation. However, with the potential risk posed to individual investors by crypto volatility, the outcome remains uncertain. The decision sets the stage for an exciting and transformative year for the crypto industry amidst intense discussions about the impact on the sector and investors.

FTX cryptocurrency exchange faces a legal filing involving a proposed settlement with Genesis entities worth $176 million. If successful, FTX and its affiliates could bypass various complications and gain significant economic advantages. Wider discussions highlight the crucial role of such legal decisions in shaping future cryptocurrency regulation and safety.

According to WonderFi CEO Dean Skurka, Canadian financial institutions are showing increased interest in cryptocurrencies due to unfolding regulatory clarity. Despite major exchanges exiting the Canadian market over stringent regulations, Skurka sees it beneficial for WonderFi, leading to increased activity and market consolidation.

Shenzhen Shikongyun Technology, a prominent Filecoin mining firm, is accused of orchestrating a $83.2 million pyramid scheme. The firm allegedly exaggerated profit expectations through a hierarchical system to recruit potential customers. Additional allegations developed when platforms bpool.io and filpool.io were used for MLM activities, reportedly to deceive and defraud investors.

“Crypto appears to be an elaborate facade, with skepticism regarding the authenticity of use-cases. The recent market trends unveiled progress, while also revealing the failings of DeFi and Web3. Governance systems are under scrutiny, and real economic activity seems sidelined for speculation. However, a genuine decentralised future remains the goal.”

“A recent report reveals the potential impact of crypto exchange-traded funds (ETFs) in advancing the cryptocurrency industry. ETFs offer a viable entry point for retail investors and institutions. A substantial Bitcoin ETF market is expected, potentially reaching 10% of Bitcoin’s market capitalization within a few years. Despite this, challenges like industry volatility and SEC hesitations remain.”

U.S. Senator Cynthia Lummis and crypto experts assert that the SEC’s examination of crypto trading platforms, like Coinbase, as unregistered securities exceeds their jurisdiction. The SEC’s authority question, they believe, should rest with Congress. Much debate exists around immediacy and breadth of crypto regulation, with an emphasis on establishing comprehensive, globally mindful approaches to build trust in the market.

Stablecoins could potentially retain the global dominance of the U.S. dollar, countering “de-dollarization”. The authors express that with proper regulatory frameworks, stablecoins could reestablish the U.S. dollar’s role in international trade and provide relief for hyperinflation-affected economies.