Connect with us

Published

on

Nowadays, everyone has an opinion on artificial intelligence (AI) and its potential risks. Even Pope Francis — the head of the Catholic Church — warned humanity of AI’s potential dangers and explained what needs to be done to control it. The Pope wants to see an international treaty to regulate AI to ensure it is developed and used ethically. Otherwise, he says, we risk falling into the spiral of a “technological dictatorship.” The threat of AI arises when developers have a “desire for profit or thirst for power” that dominates the wish to exist freely and peacefully, he added. 

The same feeling was expressed by the Financial Stability Oversight Council (FSOC), which is comprised of top financial regulators and chaired by United States Treasury Secretary Janet Yellen. In its annual report, the organization emphasized that AI carries specific risks, such as cybersecurity and model risks. It suggested that companies and regulators enhance their knowledge and capabilities to monitor AI innovation and usage and identify emerging risks. According to the report, specific AI tools are highly technical and complex, posing challenges for institutions to explain or monitor them effectively. The report warns that companies and regulators may overlook biased or inaccurate results without a comprehensive understanding.

Even judges in the United Kingdom are ruminating on the risks of using AI in their work. Four senior judges in the U.K. have issued judicial guidance for AI, which deals with AI’s “responsible use” in courts and tribunals. The guidance points out potentially useful instances of AI usage, primarily in administrative aspects such as summarizing texts, writing presentations and composing emails. However, most of the guidance cautions judges to avoid consuming false information produced through AI searches and summaries and to be vigilant about anything false being produced by AI in their name. Particularly not recommended is the use of AI for legal research and analysis.

Tether onboards FBI to demonstrate its compliance

Tether, the company behind the stablecoin Tether (USDT), disclosed letters directed to U.S. lawmakers addressing requests for intervention by the Department of Justice (DOJ) about the illicit use of its stablecoin. The letters aim to answer calls from Senator Cynthia Lummis and Representative French Hill from October, urging the DOJ “to carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism.”

Tether stated that it has a Know Your Customer program, a transaction monitoring system and a “proactive approach” to identifying suspicious accounts and activities. In addition, Tether said that clients’ reviews do not end with their registration and claimed it uses surveillance monitoring tools to track client activity continuously. The company also disclosed that it onboarded the Federal Bureau of Investigation (FBI) to its platform as part of collaboration efforts with law enforcement.

Continue reading

KuCoin will ban New York residents

Crypto exchange KuCoin has agreed to pay $22 million to the State of New York and to bar state residents from using its platform, according to a stipulation and consent order filed in the New York Supreme Court. In addition, KuCoin “admits that it represented itself as an ‘exchange’ and was not registered as an exchange pursuant to the laws of New York State.” The company has agreed to close the accounts of all New York resident users within 120 days and to prevent New York residents from obtaining accounts in the future. In addition, it will restrict access to withdrawals to only within 30 days, leaving the remaining 90 days available for users to withdraw funds. 

Continue reading

Four crypto crimes listed among the IRS top cases in 2023

The criminal investigation unit of the U.S. Internal Revenue Service has listed four crypto-related cases among the top 10 of its “most prominent and high-profile investigations” in 2023. Four significant cases in 2023 involved the seizure of cryptocurrency, fraudulent practices, money laundering and other schemes. Coming in at its third most high-profile investigation in the past year was OneCoin co-founder Karl Sebastian Greenwood, who was sentenced to 20 years in prison in September for his role in marketing and selling a fraudulent crypto asset.

Continue reading

Continue Reading

Politics

Part of Birmingham ‘can’t be no-go area for Jews’, cabinet minister tells Sky News

Published

on

By

Part of Birmingham 'can't be no-go area for Jews', cabinet minister tells Sky News

Aston in Birmingham can’t become a “no-go area” for Jews, a senior cabinet minister has told Sky News, amid controversy over fans of an Israeli football club being barred from attending a match next month.

Energy Secretary Ed Miliband said he “profoundly” disagrees with the “approach” taken by a local MP who started a petition calling for fans of Maccabi Tel Aviv to be banned from the Aston Villa game, saying it “cannot be the basis on which our country operates”.

But while he said the government is “working with the relevant authorities” to overturn the move, he can not guarantee it will happen.

Politics latest: Miliband ‘welcomes’ Jeremy Clarkson challenge

Villa Park. PA
Image:
Villa Park. PA

Alongside politicians of all parties, Sir Keir Starmer has strongly criticised the decision, calling it “wrong”, and the government has said it will work with local authorities to ensure both sets of fans can attend.

Speaking to Sky’s Sunday Morning With Trevor Phillips, Mr Miliband said work is still ongoing.

“We are working with the relevant authorities on this issue, he said. “I think the principle here is we do not want a situation where people of a particular faith or from a particular country can’t come to a football match because of their faith, because of where they’re coming from.”

Asked if Maccabi Tel Aviv fans will definitely be able to attend the game, the minister replied: “I’m not going to say come what may, but I’m giving you a very, very clear indication of what we are working towards, which is that, you know, the fans from both teams can attend the match.”

Please use Chrome browser for a more accessible video player

Miliband on Israeli football fan ban

Phillips put to Mr Miliband that a petition to ban their fans, launched by local independent MP Ayoub Khan, has been signed by nearly 4,000 people. It states the upcoming game is “not a normal match” because the Israeli fans would be arriving in “Aston, a diverse and predominantly Muslim community”.

Asked if Aston is now a no-go area for Jews, Mr Miliband replied: “No and it can’t be. And I’m very, very clear about that.

“I believe we as a country, we pride ourselves on our diversity, but also our tolerance and our hatred of prejudice, frankly. And so we cannot have a situation where any area is a no-go area for people of a particular religion or from a particular country.”

Asked if the local MP was justified in what he wrote, Mr Miliband replied: “No. I profoundly disagree with that approach, with what is being said in that petition, because that cannot be the basis on which our country operates.”

This isn’t how the vast majority of people in the UK operate, he added. “So let’s not take this petition and say it paints a picture of our country.”

Please use Chrome browser for a more accessible video player

Aston Villa fan says he has received death threats.

Top Tory criticises ‘sectarian politics’

His Tory counterpart, Claire Coutinho, was highly critical of the petition, telling Phillips: “I think politicians need to have the courage to name some of the problems that this country is facing. And one of those problems is political Islam.

“Now, that’s not to say the moderate Muslim community are a problem in Britain, but we have seen in the past extremist Islamism […] and now we are seeing a movement of people – last election, five MPs elected – simply on sectarian politics. That may be higher at the next election.

“So we have to grip this, and part of that is dealing with rising antisemitism. But part of that is dealing with integration.”

Please use Chrome browser for a more accessible video player

Tory calls out ‘lack of integration’

The senior Tory MP described the ban overall as a “disgrace”, saying: “I think the message that is being sent to Jewish people in this country is that they’re not welcome here.

“This has always been a safe haven for Jewish people, and I think to say that we could not possibly police Israeli Jewish fans to watch a football match safely is reinforcing that message that Jews are not welcome here. And I think that is wrong.”

Match classified as ‘high risk’

In a statement on Thursday, Aston Villa said Birmingham’s Safety Advisory Group (SAG) – which issues safety certificates for every match at the ground – had “formally written to the club and UEFA to advise no away fans will be permitted to attend” the fixture at Villa Park on 6 November, as it had been classified as “high risk”.

The club said police had advised of “public safety concerns outside the stadium bowl and the ability to deal with any potential protests on the night” – a statement that triggered outrage across the political spectrum.

Please use Chrome browser for a more accessible video player

Will ban on Maccabi Tel Aviv fans from Aston Villa be lifted?

The move has been condemned by political and Jewish leaders, including Israeli foreign minister Gideon Sa’ar, who called it a “shameful decision”.

The Jewish Leadership Council said it was “perverse” to ban away fans because police can’t guarantee their safety, adding: “Aston Villa should face the consequences of this decision and the match should be played behind closed doors.”

Read more:
Why are Maccabi Tel Aviv fans banned?
Analysis: Ban raises serious questions

Sky News has contacted Mr Khan for a response to the comments made this morning.

Former Labour leader and now independent MP Jeremy Corbyn defended his fellow member of the Independent Alliance group in parliament yesterday, writing on X: “Ayoub Khan has been subject to disgusting smears by MPs and journalists, who have wilfully misrepresented his views in order to stoke anger and division.”

He added that he and his colleagues “diligently represent people of all faiths and none in their communities”.

Continue Reading

Politics

Chinese tech giants halt Hong Kong stablecoin plans amid Beijing concerns: FT

Published

on

By

Chinese tech giants halt Hong Kong stablecoin plans amid Beijing concerns: FT

Chinese tech giants halt Hong Kong stablecoin plans amid Beijing concerns: FT

Ant Group and JD.com have paused their stablecoin initiatives in Hong Kong after Beijing regulators raised concerns over private firms issuing digital currencies.

Continue Reading

Politics

Japan’s FSA weighs allowing banks to hold Bitcoin, other cryptos: Report

Published

on

By

Japan’s FSA weighs allowing banks to hold Bitcoin, other cryptos: Report

Japan’s FSA weighs allowing banks to hold Bitcoin, other cryptos: Report

Japan’s Financial Services Agency is weighing reforms that could let banks hold cryptocurrencies like Bitcoin and operate licensed crypto exchanges.

Continue Reading

Trending