FameEX Morning Crypto News Recap | May 13, 2024

Apple Nears Agreement with OpenAI to Integrate ChatGPT into iPhones

Apple is reportedly finalizing negotiations with OpenAI to integrate ChatGPT into iPhones, potentially included in the upcoming iOS 18 update, according to informed sources. Simultaneously, Apple is in talks with Alphabet, Google's parent company, about integrating the Gemini chatbot. These advancements could significantly boost the AI functionality of Apple's devices, enhancing user interactions and capabilities.

Crypto Companies Prepare for Heightened SEC and CFTC Scrutiny Following Regulatory Warning

The CFTC has issued a warning about new enforcement actions targeting crypto firms due to escalating investor interest. While the influx of investors has spurred adoption, it also brings regulatory challenges. Crypto firms now face intensified scrutiny from regulators, with particular concerns over market manipulation, investor protection, and the potential misuse of cryptocurrencies for illicit activities.

US Officials Aim to Simplify Processes for Banning AI Exports and Protecting Technology Secrets

U.S. legislators have introduced a bipartisan bill aimed at supporting the Biden administration's efforts to impose export controls on advanced AI models developed in the country. Announced by House Republicans Michael McCaul and John Molenaar, alongside Democrats Raja Krishnamoorthi and Susan Wild, the bill is designed to streamline the process for AI export regulations, ensuring they withstand legal challenges.

Türkiye Set to Introduce New Regulations for Cryptocurrency Assets to Mitigate Trading Risks

Turkey is set to introduce new legislation to regulate crypto assets, aiming for compliance with international standards and reducing trading risks. The law will mandate strict oversight by the Capital Markets Commission on the licensing and operation of crypto trading platforms. It will also enforce secure asset custody, transparent platform-customer interactions, and define penalties for regulatory violations.

Ripple CEO Forecasts US Government Action Against USDT Issuer Tether

Ripple CEO Brad Garlinghouse recently stated in an interview that the US government might next target Tether, a major stablecoin issuer. Garlinghouse noted Tether's significant role in the cryptocurrency market but expressed uncertainty about potential broader impacts. Experts suggest that if this prediction materializes, it could lead to substantial selling pressure on USDT, potentially causing its value to plummet.

U.S. Core Inflation May Have Decelerated in April for the First Time, Yet Remains Too Rapid for Fed's Comfort

U.S. underlying inflation is anticipated to slow for the first time in six months this April, hinting at reduced price pressures. The core CPI is expected to show a 0.3% monthly increase, a decrease from the previous 0.4%, and a 3.6% annual rise, marking the smallest gain in three years. However, this pace of inflation is still too rapid to satisfy the Federal Reserve.

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