FameEX Morning Crypto News Recap | October 20, 2023

European Union Tax Authorities to Cooperate in Sharing Transaction Data Reported by Crypto Firms

The EU is set to introduce fresh regulations enabling the automated sharing of data concerning crypto revenue reported by industry service providers. This directive extends existing registration and reporting obligations while promoting cooperation among tax authorities throughout the European Union.

Billionaire Investor Jeffrey Gundlach Issues Warning on US Dollar's Reserve Currency Status Amid Surging National Debt

Prominent billionaire Jeffrey Gundlach, known as the "Bond King," has expressed worry about the U.S. dollar's reserve currency status due to mounting national debt. He underscores the importance of addressing budgetary and spending concerns to protect the currency's future and mitigate the risk of inflation.

SEC Drops Lawsuit Against Ripple Executives, Clearing All Charges — Ripple Labels It as 'SEC's Concession

The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple's CEO, Brad Garlinghouse, and co-founder, Chris Larsen. Ripple's chief legal officer described this as a "surrender" by the SEC and clarified that it wasn't a settlement. This event signifies a notable development in the continuing legal dispute involving the SEC and Ripple's top executives.

Meta's Chief AI Scientist Affirms AI's Harmless Nature Toward Humans

Meta's Chief AI Scientist, in a conversation with the Financial Times, deemed concerns about AI's existential risks premature and dismissed the idea of AI threatening humanity as "preposterous." He expressed strong confidence that AI technology will not pose a danger to human existence.

Universal Music Group Sues Anthropic AI for Copyright Violation

Universal Music Group, along with Concord Publishing and ABKCO Music & Records, filed a lawsuit on October 18 against AI startup Anthropic. The lawsuit accuses Anthropic of copyright infringement for copying and distributing copyrighted material, including lyrics from various musical compositions, without authorization from the publishers.

Clearview AI Wins GDPR Appeal in UK Court for Surveillance and Facial Recognition Technology

Clearview AI, a U.S. surveillance and facial recognition firm, has emerged victorious in a UK court appeal, with the ruling determining that the UK commissioner does not possess the authority or jurisdiction to penalize the "foreign" company for any GDPR breaches. This decision follows allegations of GDPR violations connected to data protection regulations in the United Kingdom.

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