FameEX Morning Crypto News Recap | October 20, 2023

EU Tax Authorities to Collaborate on Sharing Transaction Data Reported by Crypto Companies

The EU will implement new rules to facilitate the automated exchange of information regarding crypto revenue reported by service providers in the industry. This directive expands current registration and reporting requirements and enhances cooperation among tax authorities across the European Union.

Billionaire Investor Jeffrey Gundlach Cautions on the US Dollar's Reserve Currency Status Amid Soaring National Debt

Renowned billionaire Jeffrey Gundlach, often referred to as the "Bond King," has voiced concerns about the U.S. dollar's reserve currency status. He highlights the risk posed by escalating national debt, emphasizing the need to address budgetary and spending issues to safeguard the currency's future and avert potential inflationary pressures.

SEC Abandons Lawsuit Against Ripple Executives, Dismissing All Charges — Ripple Brands It a 'Concession by SEC

The U.S. Securities and Exchange Commission (SEC) has dismissed all charges against Ripple's CEO Brad Garlinghouse and co-founder Chris Larsen. Ripple's chief legal officer characterized this as a "surrender" by the SEC and emphasized that it was not a settlement. The decision marks a significant development in the ongoing legal battle between the SEC and Ripple executives.

Meta's Chief AI Scientist Reassures That AI Poses No Threat to Humans

In a recent interview with the Financial Times, Meta's Chief AI Scientist expressed that concerns regarding the existential risks of AI are premature and labeled the notion of AI posing a threat to humanity as "preposterous." He conveyed confidence that AI technology will not lead to the demise of humanity.

Universal Music Group Files Lawsuit Against Anthropic AI for Copyright Infringement

Universal Music Group, along with Concord Publishing and ABKCO Music & Records, has launched a lawsuit against AI startup Anthropic. The suit, filed on October 18, alleges that Anthropic engaged in copyright infringement by copying and distributing copyrighted content, including lyrics to numerous musical compositions, without proper authorization from the publishers.

Clearview AI, a U.S. Surveillance and Facial Recognition Company, Prevails in GDPR Appeal in UK Court

Clearview AI, a U.S. surveillance and facial recognition company, has won a court appeal in the UK, which ruled that the UK commissioner lacks jurisdiction to cite or fine the "foreign" firm for GDPR violations. This decision comes after allegations of GDPR infractions related to data protection regulations in the United Kingdom.

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