The Venezuelan-American Chamber of Commerce and Industry (Venamcham) met with a delegation from the United States Congress to discuss key issues in bilateral trade, such as mechanisms to attract investment, as well as offering legal security, transparency, and competitiveness.

The meeting in Caracas also served to “evaluate ways to reintegrate the Venezuelan economy into international markets.”

“The U.S. delegation was led by Congressman Brian Mast, accompanied by members of the House Foreign Affairs Committee (HFAC), including Representatives Randy Fine and Kat Cammack of Florida, and Representative Jonathan Jackson of Illinois. Also present was John M. Barrett, Chargé d’Affaires of the U.S. Embassy.”

Amaru Liendo, president of Venamcham, emphasized that the institution maintains the nation’s commitment to fostering and strengthening economic relations between the two countries, “promoting a sustainable business environment that defends free enterprise. Strengthening these relations is built through dialogue, innovation, and solid alliances between the public and private sectors.”

M.Pino

Source: elnacional

(Reference image source: Paul .T on Unsplash)

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La entrada Venamcham addresses bilateral trade with U.S. congressional delegation apareció primero en Bitfinance.

Although cryptocurrency adoption in Venezuela has declined in the last year, it continues to grow thanks to the opening of the national banking system to the purchase and sale of these assets, consolidating its position as the key channel for this sector.

This was reported on Wednesday, February 11, by Aníbal Garrido, director of the Blockchain, Trading, and Crypto (BT&C) Academy at Andrés Bello Catholic University.

The specialist indicated that “despite the recent foreign currency injections by the Central Bank of Venezuela (BCV) to stabilize the exchange rate, digital currencies maintain a strong presence in the economy.”

Regarding the role of banks before cryptocurrencies, he stated: “The banking sector is a crucial ally. It acts as a ‘railway’ or gateway for cash-in and cash-out transactions. Although banking institutions cannot perform direct exchanges, they allow exchange houses to carry out instant transactions.”

Garrido noted that in Venezuela, the trading of digital assets has a clear legal framework, recalling that the National Superintendency of Cryptoassets and Related Activities (Sunacrip in Spanish) has been the entity responsible for regulating the sector since 2023. “The legality of using cryptocurrencies is established in the 2019 Constituent Decree, and BA VEN-NIF 12 regulates the accounting records of digital assets,” he added.

M.Pino

Source: criptopasion

(Reference image source: Michael Förtsch on Unsplash)

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La entrada Venezuelan banking system is a key platform for cryptocurrencies apareció primero en Bitfinance.

The cryptocurrency exchange CryptoMKT has highlighted the work of the Central Bank of Brazil in crypto regulation, making the country a leader in Latin America.

According to the platform, the South American country follows international standards regarding cryptocurrency regulation, with an approach focused on transparency and participation.

The BCB “seeks to establish clear rules for the legal and accounting treatment of digital assets, including key aspects such as staking, airdrops, and fair value valuation.”

Denise Cinelli, COO of CryptoMKT, has noted that the country sets a precedent that could be evaluated by other nations, since “regulatory clarity is essential to protect users, but also to attract investment and drive innovation.”

The model Brazil is following is based on three essential pillars:

• First: the accounting recognition of staking and airdrops, two mechanisms that are frequently underregulated or poorly recorded in the accounting books of many companies.
• Second: valuation based on the fair value criterion, which would allow for estimating the real market value of digital assets and promote more accurate and comparable accounting practices.
• Third: financial disclosure requirements to improve the quality of information reported by companies linked to the crypto world.

Another determining aspect stands out in this process: citizen participation. The Central Bank is implementing this through a public consultation among exchanges, fintechs, banking institutions, developers, and interested citizens, with the goal of “jointly building an applicable, inclusive, and effective regulatory framework.”

The premise is not only to regulate, but to do so by listening to the participants in the country’s crypto sector. In this regard, Cinelli stated: “Regulation built with a vision for the future and active participation of the ecosystem is the right path. This type of progress builds confidence and accelerates the adoption of cryptocurrencies as a real tool for inclusion and financial freedom.”

M.Pino

Source: diariobitcoin

(Reference image source: Kanchanara on Unsplash)

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La entrada Brazil leads crypto regulation in Latin America apareció primero en Bitfinance.

OpenAI, the creator of the renowned ChatGPT chatbot, recently posted a blog post detailing its approach to the 2024 global elections. The company’s main focus is to provide transparency and improve access to accurate voting information, while striving to prevent the misuse of artificial intelligence.

The organization stressed the importance of protecting the integrity of the elections and affirmed its commitment to ensuring that its AI technology is not used in a way that could undermine this democratic process. “Our goal is for our AI systems to be built, deployed and used securely, aware of the benefits and challenges that these tools bring,” said OpenAI.

The company also mentioned its cross-functional effort dedicated to elections, which will investigate and promptly address any potential abuses. Its preventive measures include safeguards on Dall-E to reject requests to generate images of real people, including political candidates, and a ban on building apps for political campaigning and lobbying.

This announcement comes at a time when regulators in the United States were already considering, as early as August 2023, the regulation of political deep fakes and AI-generated ads before the 2024 presidential election.

OpenAI also highlighted its ongoing work on updating ChatGPT to provide accurate information, based on real-time news reports from around the world, and to direct voters to official voting websites for additional information.

The influence of AI on elections has become a topic of great debate. Microsoft, for example, published a report on the use of AI on social media and its potential to influence voter sentiment. In addition, Microsoft’s Bing AI chatbot has come under scrutiny after it was found to provide misleading election information.

Google, for its part, took a proactive stance, requiring the disclosure of AI in political campaign ads and limiting responses to its AI Bard tool and generative searches related to election polls since September.

K. Tovar

Source: OpenAI

(Reference image source: Jonathan Kemper, Unsplash)

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La entrada OpenAI will help provide transparency in electoral processes apareció primero en Bitfinance.

In its annual transparency report, cryptocurrency exchange Coinbase reveals a 6 % increase in requests received by government and law enforcement agencies compared to 2022. In addition, it highlights a 19 % increase in the number of jurisdictions issuing requests.

Four countries, the United States, Germany, the United Kingdom, and Spain, accounted for approximately 73 % of the 13,079 information requests directed to Coinbase in the fourth quarter of 2022. The United States leads with 5,686 requests, an increase from the previous year, with a 90.4 % coming from criminal law enforcement agencies.

Germany, with 1,906 applications, surpasses the United Kingdom, which experienced a slight decrease, reaching 1,401 applications. Spain occupies fourth place with 732 applications. Australia stands out by sending 262 % more applications, ranking sixth with 453 applications.

Coinbase details that the requests cover subpoenas, court orders and formal legal processes. The platform provides customer information, including name, IP address and payment details. However, the company may request reduction of claims in certain circumstances, in accordance with financial regulations and other applicable laws.

The report highlights that 83 % of “G20 members and major financial centers” have crypto regulations in place. Coinbase points to the global escalation in the fight against cryptocurrency-related crimes and cites enforcement actions, such as the US SEC’s lawsuit in June over the sale of unregistered securities, which Coinbase refuted in October.

K. Tovar

Source: Cointelegraph

(Referential image source: PiggyBank, Unsplash)

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La entrada Requests for information about Coinbase begin to grow apareció primero en Bitfinance.

In a strategic partnership, Binance and Gulf Energy Development plan to launch a cryptocurrency exchange in Thailand in early 2024. The joint venture, Gulf Binance, received approval from the Securities and Exchange Commission of Thailand (SEC) on November 10, as announced by Gulf Energy on November 15.

Gulf Binance will initially operate as an invitation-only platform, with opening to the public scheduled for early 2024, a Binance spokesperson told Cointelegraph. The company obtained the digital asset operator license from the Thai Ministry of Finance on May 26, with initial plans to launch the Thai subsidiary in the fourth quarter of 2023.

The strategic alliance seeks to leverage Gulf Energy’s established local network and infrastructure. Richard Teng, Binance Regional Director for Asia, Europe, the Middle East and North Africa, highlighted that Gulf Binance aims to demonstrate the potential of blockchain technology to the local audience.

Gulf Energy Development, headed by Thai billionaire Sarath Ratanavadi, is a prominent natural gas distribution company in Thailand. In addition to this joint project, the company has previously invested in Binance’s US division, Binance.US.

Notably, last month, the exchange collaborated with the Royal Thai Police to seize $277 million linked to scammers, prompting more than 3,200 victims to seek compensation from authorities.

K. Tovar

Source: Cointelegraph

(Referential image source: Kanchanara, Unsplash)

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La entrada Binance will work on a cryptocurrency for Thailand in 2024 apareció primero en Bitfinance.

In a recent update, video streaming platform YouTube released new community guidelines for the disclosure of content generated by artificial intelligence (AI). Starting November 14, creators will be required to inform viewers when they present “synthetic” content created using AI tools, as announced in a statement on the platform’s official blog.

The new rules require creators to disclose any realistically altered content, such as AI-generated videos depicting events that never happened or showing people saying or doing things they never did. These disclosures will be made through a label added to the description panel and, in the case of content on “sensitive topics”, will be highlighted even more in the video player.

YouTube defines sensitive topics as those related to political elections, ongoing conflicts, public health crises, and public officials. The platform says it will work closely with creators to make it easier to understand and apply these new guidelines.

In a bid to address growing concerns about deepfakes, YouTube will also introduce a feature that will allow users to request the removal of synthetic videos that simulate an identifiable person, either through their face or voice. Failure to follow these rules may result in content removal, suspension from the YouTube Partner Program, or other sanctions.

Additionally, the platform will focus on AI-generated music, committing to removing content that imitates an artist’s unique singing or rapping voice, as requested by its music partners. This move follows recent celebrity fights against fake videos promoting products, highlighting the need to address the growing phenomenon of deepfakes.

YouTube, which already launched collaborations with the music industry on AI technology over the summer, is reinforcing its commitment to transparency and content integrity through these updated guidelines. Additionally, the platform recently launched experimental AI chatbots to interact with viewers while they enjoy its visual content.

K. Tovar

Source: Cointelegraph

(Referential image source: Souvik Banerjee, Unsplash)

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La entrada YouTube published new rules regarding AI apareció primero en Bitfinance.

The Texas House of Representatives has passed a bill to require cryptocurrency exchanges to submit proof of annual reserves, in order to promote transparency on these platforms.

The body authorized a project that establishes that all entities that offer services related to digital assets must submit an annual report to the state Banking Department. This report must include a series of clearly established data and provisions, and must be submitted no later than 90 days after the close of the fiscal year.

The new law requires crypto exchanges and companies to include in their report:

• A certification from the service provider of outstanding liability to customers for digital assets, documented using zero-knowledge encryption or a similar industry standard.
• Evidence of customer assets held by the organization, documented by zero knowledge (ZK) testing or a similar industry standard.
• A certification from an auditor that the information in the report is true and accurate.
• A copy of the provider’s plan to allow auditors and customers to view accounting of digital assets on a quarterly basis, as well as customer digital assets at any time.

This measure seeks to foster confidence in exchanges, especially after the crisis of confidence that affected the crypto ecosystem after the collapse of FTX at the end of last year. Binance CEO Changpeng Zhao proposed that the platforms implement “Proof of Reserves” to demonstrate the status of client and company funds. Although some major exchanges have started publishing these reports on a regular basis, Texas becomes the first state in the US to implement a mandatory measure for the issuance of these reports.

K. Tovar

Source: Diariobitcoin

(Reference image source: file)

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La entrada Texas to require cryptocurrency exchanges to submit proof of reserves apareció primero en Bitfinance.

The International Monetary Fund (IMF) warns about the uncertainty and the “highly uncertain” future of the Spanish economy due to the development of the Covid-19 pandemic, although it positively values ​​the labor reform recently approved by the Spanish government. This was explained in an analysis on “Spain and the economic future that awaits after the pandemic” released on February 16.

In the report, the international organization also urges the Spanish government to make “efficient and transparent” use of the economic resources that the European Union plans to grant them to face the crisis caused by the pandemic and promote economic reactivation in the area.

On the other hand, the IMF celebrates “the exhaustive agenda of reforms and investments” that Spain has committed to developing, highlighting the “exceptional opportunity” to make investments and stimulate production that will make it possible to have an economy that is “more productive, inclusive, green and digital“. But insists on “the importance of establishing a reference framework that ensures a transparent and efficient use of funds.”

The IMF approves labor reform

The Spanish government recently approved a labor reform, which is valued as positive by IMF representatives. The managers and directors of the organization see this positive and consider that the objective is to “address the deficiencies” of previous years, as well as try to balance the “protection of workers and preserve flexibility for companies”.

They highlight the “high level of responsibility” obtained from an extensive dialogue where the different social agents involved in the work process participated. The institution recommends monitoring the impacts that the reform may produce in the different areas and sectors of the economy, as well as in public finances and they think it is significant “to make indefinite contracts more attractive to companies.”

M. Rodríguez

Source: 20minutos

La entrada IMF warns of uncertainty in the Spanish economy apareció primero en Bitfinance.

The European Commission has adopted new rules to put its software in open source, which will allow them to be publicly accessible when they represent a benefit for citizens, companies and public services.

This decision follows a study commissioned by Brussels that showed that investment in open source software generates a return four times higher. The initiative seeks that these software improve the digital processes of companies and public services and in this way the Commission helps the technological transition that it wants to promote in Europe.

The Community Executive will make its software available to citizens in open source in a single repository to facilitate access and reuse. Before switching to open source, each piece of software will be scrutinized for security, confidentiality, or intellectual property violations.

Open source software impacts security

The Commission services will thus be able to publish the source code of the software they use in less time and with less paperwork, something that has been applauded by the Budget Commissioner, Johannes Hahn, who has pointed out that this type of software has “great advantages” and has indicated that this is a field in which the EU can play a leading role.

“The new rules increase transparency and help the Commission, as well as citizens and companies in Europe, to benefit from the development of open software,” said the Austrian commissioner.

In this sense, he has defended that pooling efforts to improve the software also brings mutual benefit since Brussels will have access to improvements made by other developers. “This can also improve security, as external and independent specialists check the software for bugs and security flaws,” Hahn said.

Source: dpa

La entrada Open source software will drive the digital transition apareció primero en Bitfinance.