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World’s first AI-powered GPT to focus on regulation in tokenization and digital assets

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COPENHAGEN, Denmark, Jan. 18, 2024 /PRNewswire/ — The Tokenizer is proud to launch the global regulatory service –  The Token RegRadar – in a groundbreaking new version featuring a powerful AI integration. 

The core of The Token RegRadar is an extensive, domain-specific database built from scratch by The Tokenizer’s team over the past three years. This regulatory database contains legal texts, lawsuits, industry reports, interviews and much more. It currently covers more than 80 jurisdictions, and it is continuously updated through numerous sources and will continue to grow in the future.

By integrating a customised GPT – Generative Pre-trained Transformer – AI solution designed to utilise The Token RegRadar’s specialised data, it is possible now to offer an extremely powerful service that enables users to seek regulatory information in seconds about almost any aspect of the domain of asset tokenization and digital asset.

The Token RegRadar is a service developed to assist a wide range of professionals in the space of asset tokenization and digital assets. Law firms that need fast access to updated regulatory information from across the globe, regulatory authorities, FSAs, governments, analysts, and several other categories of players within the industry, such as issuance companies, exchanges, banks, custodians, service providers and more. Finally, The Token RegRadar, in its AI-enabled version, can be a highly useful tool for asset owners and companies conducting token issuances.

The AI-powered version was developed in collaboration with the Boston-based AI company CustomGPT, which, among others, has the Massachusetts Institute of Technology (MIT) on its client list.

The CEO of CustomGPT, Alden Do Rosario, stated:

“A GPT has the ability to become incredibly powerful when it’s built on a solid database that more or less absorbs all knowledge from a specific domain. The Tokenizer is doing that with its regulatory GPT, focusing on tokenization and digital assets. Supporting and collaborating with companies developing these types of powerful vertical GPTs is one of our main goals at CustomGPT. So we are happy to support The Tokenizer’s journey.” 

The Token RegRadar is a subscription-based SaaS product, and it is available globally in the AI-powered version. According to CEO & co-founder of The Tokenizer, Michael Juul Rugaard, today’s AI release is a decisive moment of a long journey:

“The idea of The Token RegRadar as a ‘radar’ constantly scanning jurisdictions for regulatory news arose more than four years ago when we first started The Tokenizer and realised that a major barrier to accelerating our industry was the lack of regulatory overview and clarity, especially across jurisdictions.”

Michael adds, “Since then, we have spent endless hours expanding our database and designing our tool, and by integrating Al, we can finally deliver a service with features that will save a lot of time and money for many professionals in our industry.”

For more information, please contact:

Michael Juul Rugaard  [email protected]
[email protected]
+45 93 99 38 83

Please also visit:

The Token RegRadar: https://regradar.thetokenizer.io/
The Tokenizer: https://thetokenizer.io/

Disclaimer:

The Token RegRadar is an AI-powered tool designed to provide regulatory information in the domain of asset tokenization and digital assets. While we strive for accuracy and comprehensiveness, The Tokenizer and its partners, including CustomGPT, do not guarantee the completeness, reliability, or accuracy of the data provided. The information generated by the Token RegRadar should not be interpreted as legal advice, and users should consult with qualified legal professionals for specific legal counsel tailored to their circumstances. This AI-powered service is subject to continuous updates and revisions, and The Tokenizer reserves the right to make modifications as deemed necessary.

Logo – https://mma.prnewswire.com/media/2319372/THE_TOKENIZER_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/worlds-first-ai-powered-gpt-to-focus-on-regulation-in-tokenization-and-digital-assets-302035915.html

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China Targets Crypto Crimes in Metaverse & Blockchain

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The Supreme People’s Procuratorate (SPP) of China is targeting cybercriminals using blockchain and metaverse platforms for illegal activities amid rising online fraud and personal data infringement.

Deputy prosecutor-general Ge Xiaoyan reported a 64% year-on-year increase in cybercrime-related telecom fraud charges. While blockchain crimes are rising, traditional offenses like gambling and counterfeiting have also expanded into cyberspace. Charges for internet theft rose 23% while online counterfeiting surged 86%.

Between January and November, prosecutors pressed charges against 280,000 individuals in cybercrime cases, up 36% versus last year and constituting 19% of all criminal offenses.

Zhang Xiaojin, director of the SPP’s Fourth Procuratorate, warned citizens about investment scams in crypto, noting the rise of crimes using metaverse, blockchain, and binary options platforms. He said digital currencies have become hotspots for illicit activities.

China’s crackdown on crypto crimes differs from Hong Kong’s crypto-friendly regulations that aim to protect investors without stifling innovation. The People’s Bank of China stressed the need for coordinated global crypto regulation in its latest report.

In 2021, China officially banned crypto transactions and mining but remains a major mining hub despite the crackdown. The SPP aims to strengthen inter-departmental coordination in curtailing crypto adoption and cybercrimes involving digital assets.

Source: Crypto Times

The post China Targets Crypto Crimes in Metaverse & Blockchain appeared first on HIPTHER Alerts.

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Crypto Headlines of the Week: ECB Slams Bitcoin, Nigeria Blocks Exchanges

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The European Central Bank (ECB) has once again lashed out at Bitcoin, claiming that the recent approval of spot BTC ETFs changes nothing.

The central bank’s officials said Bitcoin’s fair value is zero, and the latest boom will spark massive collateral damage.

They claimed Bitcoin falls short in generating cash flow or other value-based returns, making it a poor investment.

While the ECB’s skepticism towards Bitcoin is not new, Nigeria is also growing skeptical of digital assets and crypto exchanges.

In an effort to crack down on currency speculation while the naira tumbles to record lows, Nigeria has ordered telecom companies to restrict consumer access to the websites of companies like Binance, Coinbase, and Kraken.

Here are this week’s important crypto stories:

ECB Slams Bitcoin Again
The European Central Bank (ECB) has reiterated its position on Bitcoin, stating that the approval of spot ETFs for the cryptocurrency does not change its unsuitability as a means of payment or investment.

“We disagree with both claims and reiterate that the fair value of Bitcoin is still zero,” the central bank wrote.

ETF approval for Bitcoin – the naked emperor’s new clothes (ECB Blog)

Kraken Files to Dismiss SEC Lawsuit
Crypto exchange Kraken has filed a motion to dismiss a November lawsuit from the Securities and Exchange Commission that accuses the firm of failing to register with the agency and commingling customer funds. The exchange contended that the SEC’s enforcement action came as retaliation for political speech.

Kraken moves to dismiss SEC lawsuit, citing retaliation from ‘a politically compromised agency’ (Fortune)

Nigeria Blocks Major Crypto Exchanges
Authorities in Nigeria have blocked access to some of the world’s largest cryptocurrency exchanges as the government tries to crack down on currency speculation while the naira tumbles to record lows.

On Wednesday, the country’s telecom regulator ordered telecom companies to restrict consumer access to the websites of companies like Binance, Coinbase, and Kraken.

Nigeria blocks access to crypto exchanges in an effort to curb currency slide (The Financial Times)

FTX Cleared to Sell Stake in AI Startup
A US judge has ruled that bankrupt crypto exchange FTX may sell its shares in artificial intelligence startup Anthropic.

US Bankruptcy Judge John Dorsey in Wilmington, Delaware, approved FTX’s proposal to sell the shares after FTX reached a compromise in court with a group of FTX customers that had opposed the sale.

Crypto exchange FTX to sell shares in AI startup Anthropic (Reuters)

Jack Dorsey’s Block Gains Big From Bitcoin Bet
Fintech company Block has reported a remeasurement gain of $207 million on its Bitcoin holdings. As of December 31, 2023, Block held approximately 8,038 BTC for investment purposes with a fair value of $340 million.

The Jack Dorsey-owned company made $66 million in gross profit on bitcoin sales last quarter through Cash App, a banking services platform, representing a 90% increase year over year.

Jack Dorsey’s Block Is Sitting on $207M Gain on Its Bitcoin Bet (CoinDesk)

Reddit Now Holds Bitcoin
Social media platform Reddit has revealed investments in Bitcoin and Ethereum using some of its excess cash reserves. This was included in the SEC filings as part of its preparations for the company’s initial public offering (IPO).

Still, the exact amount invested in these leading cryptocurrencies remains undisclosed.

Reddit says it invested ‘excess cash reserves’ in Bitcoin, ether (Blockworks)

Crypto Super PAC Continues to Raise Funds
Crypto-friendly super PAC Fairshake received $6.8 million in funding last month, including $4.9 million from Gemini co-founders Cameron and Tyler Winklevoss. Fairshake has quickly become one of the most popular super PACs for crypto-friendly donors this election cycle.

Crypto Super PAC Fairshake Raised $6.8 Million From Winklevoss Twins and VCs in January (Decrypt)

Major ETF Issuers Talk About Crypto in Miami Conference
The discussion on the spot Bitcoin ETFs was the most well-attended panel of the entire Exchange ETF Conference in Miami Beach, Florida, so much so that the staff ran out of the headphones attendees were provided with to listen to the speakers.

Crypto no longer outsider at famed Miami Beach ETF conference (Fox Business)

Retail Investors Were Behind Recent Crypto Rally
Retail investors were likely responsible for the strong crypto market rally in February, JPMorgan said in a recent research report.

The bank said that the anticipation of “the bitcoin halving event, the next major upgrade of the Ethereum network, and the prospect of approval of spot ether ETFs by the SEC in May” attracted retail participation.

JPMorgan Sees Retail Traders Jump Back Into Crypto Markets in February (Bloomberg)

South Korean Province Collects $4.6M in Crypto Tax
South Korea’s most populated province, Gyeonggi, has collected $4.6 million from crypto tax evaders. Using a new system, the province found 5,910 people who owed more than $2262 each. The $4.6 million collected so far has been from only 2,390 people last year.

South Korean province implements digital system to track tax evaders’ crypto (Cointelegraph)

The Bottom Line
The ECB has reiterated its critical stance on Bitcoin, despite the recent approval of spot Bitcoin ETFs, maintaining that Bitcoin’s intrinsic value remains at zero. Meanwhile, Nigeria is taking steps to limit cryptocurrency engagement amid concerns over financial stability.

Source: Techopedia

The post Crypto Headlines of the Week: ECB Slams Bitcoin, Nigeria Blocks Exchanges appeared first on HIPTHER Alerts.

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Bolstering Native Food Markets Through Blockchain

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The Allan Labor Government is helping to bolster the native foods industry by supporting Traditional Owners with new options to track and sell native foods through blockchain.

Around 70 native foods business practitioners attended the inaugural First Nations Native Food Blockchain Workshop at Healesville last week.

The workshop was delivered by the RMIT Blockchain Innovation Hub in partnership with Agriculture Victoria and the Federation of Victorian Traditional Owners Corporation (FVTOC).

Over two days, the workshop explored the potential for blockchain technology to support positive outcomes for Victorian Aboriginal native food businesses. The workshop also focused on ways in which blockchain can support and uphold Indigenous Cultural Intellectual Property rights for Victorian Traditional Owners.

Blockchain technology offers new abilities for data management and governance by enabling decentralised and tamper-resistant storage. It enables new and unique ways to further enable Aboriginal self-determination and data sovereignty for First Nations people within the native foods and botanicals industry.

The technology also offers a secure and transparent system for tracking product authenticity, with the ability to store and manage traditional knowledge and stories.

This workshop aligns with the objectives of the Traditional Owner Native Food and Botanicals Strategy, developed by the FVTOC and the Victorian Government in 2021, which laid out a plan to create a strong, authentic and sustainable bushfood sector.

Quote attributable to Minister for Agriculture Ros Spence

“This workshop provides more ways to help ensure Victorian Aboriginal native food businesses are equipped with the skills and technology they need to thrive.”

Quote attributable to Minister for Treaty and First Peoples Natalie Hutchins

“This is a great example of Aboriginal businesses coming together to drive a strong and sustainable native food industry and promote economic development.”

Quotes attributable to Gunditjmara Elder Professor Richard J Franklin

‘Blockchain unveils promising pathways for Aboriginal data sovereignty and community empowerment, crucial for uplifting our communities and ensuring improved outcomes.” “I am enthusiastic about the possibilities that blockchain holds, particularly within the native food and botanicals industry. Technology must be one of the many spearpoints we use in charting toward a tomorrow Australia.”

The post Bolstering Native Food Markets Through Blockchain appeared first on HIPTHER Alerts.

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