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US clampdown has crypto kings looking abroad

US regulators are cracking down on the cryptocurrency industry, causing concern among entrepreneurs who may consider relocating overseas. The Securities and Exchange Commission has charged Binance and Coinbase, claiming that some cryptocurrencies are securities subject to strict rules. The lack of clear regulation and political gridlock hinder progress in the US, while other countries seize the opportunity. Defenders of digital currencies argue that regulators need to adapt to cryptocurrencies like Bitcoin and Ethereum.

Nobel Laureate Maria Ressa: Reuters Institute report provides ‘weapons’ to governments attacking free media

Nobel laureate Maria Ressa criticizes the Reuters Institute, claiming its flawed research endangers journalists and aids governments in undermining free media, especially in the global south.

Digital News Report 2023: Emerging dominance of alternative media and shifting trust dynamics in Singapore

Singapore’s news consumption is pivoting, with digital-native Mothership overtaking traditional outlets in usage, social media platforms gaining traction for news, and trust dynamics undergoing significant shifts, according to the Digital News Report 2023.

IMF, World Bank are key counterweights to China: Yellen

US Treasury Secretary Janet Yellen stated that international financial institutions reflect American values and counter unsustainable lending from countries like China. She sought congressional support to increase US lending to these organizations for the benefit of developing countries.

Before a federal judge, Trump denies mishandling US secrets

Former President Donald Trump pleaded not guilty to multiple criminal counts, including mishandling classified information, in his first court appearance. Trump dismissed the charges as politically motivated and accused President Biden of interference in the 2024 election. The indictment alleges that Trump violated the Espionage Act and conspired to obstruct investigators. Despite mounting legal woes, Trump remains the frontrunner for the 2024 Republican primary, with strong backing from Republican voters.

Europe takes lead over US on crypto regulation

The EU has taken the lead in crypto regulation with the adoption of comprehensive rules, while the United States has cracked down on major crypto exchanges. The EU’s Markets in Crypto-Assets (MiCA) regulation aims to combat illegal practices and protect investors, receiving praise for bringing clarity to the industry. In contrast, the US regulatory landscape remains uncertain, prompting some companies to flee to Europe. The US must resolve its regulatory situation quickly to retain its position as the largest market. The industry hopes that American legislators will realize the potential loss of business, jobs, and revenues without proper regulation.

Trump’s own words used to build case against him

US prosecutors built their case against former President Donald Trump using his own words and notes from his lawyers. The indictment accuses Trump of hoarding classified documents and endangering national security. It relies heavily on statements made by Trump, including instances where he disclosed confidential information to individuals without security clearances. Trump’s meetings with his lawyers are also recounted, with notes suggesting an effort to mislead investigators. Trump is set to appear in a federal court in Miami.

Homework will ‘never be the same’ says ChatGPT founder

Artificial intelligence will transform education, but won’t replace learning, according to Sam Altman, founder of ChatGPT. Speaking at Keio University, he compared AI to calculators for words and emphasized the need for changes in teaching and evaluation methods. Altman also expressed the importance of regulations for AI and acknowledged that while some jobs may disappear, new opportunities will arise.

UBS set for ‘bumpy’ integration of Credit Suisse

UBS is set to finalize its acquisition of Credit Suisse, but the integration process is expected to be challenging. UBS Chief Sergio Ermotti warned of difficult decisions and job losses, while concerns about the size and political implications of the megabank have been raised. Talent retention and potential spin-offs of business units are among the key challenges. The merger is seen as necessary to prevent a financial crisis, with the Swiss government and central bank providing support and guarantees. The full impact of the merger will become clearer after the release of second-quarter financial results.

Saudi announces investment deals at Arab-China summit

Saudi Arabia and China have signed billions of dollars in investment deals at the China-Arab business conference in Riyadh. The agreements cover various sectors including technology, agriculture, renewable energy, and tourism. The conference reflects the growing commercial and diplomatic ties between China and Middle Eastern countries, including recent efforts to improve relations between Iran and Saudi Arabia.