CBDCs, Digital IDs, Social Credit Scores
AI experts, journalists, policymakers, and the public are increasingly discussing a broad spectrum of important and urgent risks from AI. Even so, it can be difficult to voice concerns about some of advanced AI’s most severe risks. The succinct statement below aims to overcome this obstacle and open up discussion. It is also meant to create common knowledge of the growing number of experts and public figures who also take some of advanced AI’s most severe risks seriously.
Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.
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Read MoreLawmakers in the European Parliament sought on Wednesday to water down groundbreaking European Union rules that would require large companies to check whether their suppliers abuse human rights or damage the environment.
Parliament is due on Thursday to vote on a cross-party compromise agreed in April on the draft EU corporate sustainability due diligence directive (CSDDD).
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Read MoreA growing number of Republican lawmakers are calling to block a central bank digital currency from being issued in the U.S., and Rep. Alex Mooney of West Virginia is the latest to join the chorus.
However, Mooney’s bill, which was introduced in the House on Thursday, is different — he is calling for something called the Digital Dollar Pilot Prevention Act, which aims to prevent the Federal Reserve from launching a pilot program that would test the operability of a central bank digital currency (CBDC) in the U.S. financial system.
The move would stop the development of a CBDC in its tracks, people inside Mooney’s office tell FOX Business. While anti-CBDC legislation is nothing new, Mooney’s bill attempts to close the pilot program “loophole” that could allow the Federal Reserve to implement a test run of a CBDC without the consent of Congress.
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Read Moreumors claim that “Grand Theft Auto 6” might feature cryptocurrency
Take-Two Interactive has shown interest in the crypto industry, particularly when it had Zynga work on Web3 games
However, neither Take-Two Interactive nor Rockstar Games has ever said anything about crypto being in its upcoming “GTA” installment
“Grand Theft Auto 6,” the highly anticipated project of Rockstar Games, has been rumored to integrate cryptocurrencies, with others claiming that players could even earn crypto assets while playing the game. However, it appears that this may not happen at all, considering various factors including the ranging success of its predecessor, “GTA 5.”
“Grand Theft Auto 6,” is by far, the most leaked, rumored and speculated title in the franchise despite the fact that it has no specific release date yet.
One of the rumors linked to the upcoming major title is that it would be released as a blockchain game featuring cryptocurrencies and allowing gamers not only to enjoy the game but also earn crypto while playing it.
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Read MoreAsian investors traded nervously Tuesday as they kept an eye on Washington, where lawmakers are expected to vote this week on a deal to hike the US debt ceiling and avoid a painful default.
President Joe Biden and House Speaker Kevin McCarthy hammered out an agreement at the weekend that saw both sides give ground, a week before a June 5 deadline when the government is expected to run out of cash to pay its bills.
The news provided some much-needed relief to markets, but now the two leaders must convince waverers on both sides to back the deal, with the House expected to vote Wednesday followed by the Senate.
Ultra-conservative Republicans feel McCarthy should have secured far deeper spending cuts in exchange for raising the debt ceiling and allowing the government to keep borrowing.
The left wing of the Democratic Party is equally unhappy that Biden agreed to any spending limits at all.
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Read MoreCRYPTO CRYPTO BUSINESS
Bitcoin’s Brief Pump Above $28K Leads To Steep Losses Among Short Traders, Triggers $130M Liquidations
By Nica Osorio
@nicaIBTimes
05/30/23 AT 12:18 AM EDT
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KEY POINTS
Bitcoin peaked at $28,432 but retraced to $27,960 by 9 a.m. ET Monday
The brief spike was after President Biden confirmed a deal was reached on debt ceiling
Bitcoin left the $28,000 price level and saw a 0.91% loss Monday evening
Bitcoin briefly spiked above the $28,000 price level in the early trading hours Monday, which led to nearly $130 million in liquidations and saw short traders experience steep losses.
The world’s largest cryptocurrency asset by market capitalization broke through the $28,000 price region and peaked at $28, 432 over the past 24 hours, but retraced to $27,960 at around 9 a.m. ET on Monday.
This brief surge in the price of Bitcoin triggered $55 million in liquidations for traders who held positions in the asset, with the market seeing $129.1 million leaving exchanges and 35,000 traders liquidating over the past 24 hours, data from crypto futures trading and information platform Coinglass showed.
Moreover, short traders lost $1404.45 million at around the same time, with Bitcoin, along with Ethereum – the second largest crypto asset by market capitalization, taking more than $68 million of those losses.
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Read MoreAn increasing number of people worldwide are opposed to living in “Smart Cities” due to cybersecurity, health, and privacy concerns — and rightfully so (see 1, 2, 3, 4, 5, 6). Last year Activist Post reported about a highly opposed “Smart City” Project in Toronto. Earlier this month, it was abandoned.
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Read MoreCabinet will not enforce a curb on taxpayers’ use of cheques despite a clause in an omnibus budget bill, says the Department of Finance. Bill C-47 the Budget Implementation Act would mandate electronic payment of taxes over $10,000.
“The intention is not to force people to do things electronically if it is not possible or if they have been historically filing on paper,” said Lindsay Gwyer, director general of tax legislation at the finance department. Testifying at the Senate national finance committee, Gwyer said the bill was intended to promote digital filing not punish cheque users.
“The changes would allow employers or institutions that are issuing T4s or T5s to issue them electronically,” said Lindsay Gwyer, director general of tax legislation at the finance department. “It would still be possible for someone who wants to receive them on paper to request to receive them on paper but the rules confirm that it’s permissible for these institutions to issue them electronically if that’s what the recipients prefer.”
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Read MoreOTTAWA, ON (May 25, 2023): The rise of digital commerce revolutionized the lives of Canadians : digital firms have emerged to facilitate how Canadians interact, do business, and consume products. In November 2022, the federal government launched a public consultation to determine whether aspects of the Competition Act need to be amended to reflect this new digital economy. The Competition Bureau’s discussion paper indicates concern that the power of digital firms has grown far beyond the reach of competition law in its present form.
In this new MLI paper, Staying the course: Why competition law should remain focused on consumer welfare standards, Will Rinehart and Aaron Wudrick warn that Canada must guard against overreaction in reforming its competition law and avoid following the same path as several peer nations (the United States in particular).
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Read MoreThe White House and Congressional Republicans are still locked in crunch talks to try and avert the first debt default in US history, which Treasury officials have warned could come as soon as June 1.
The US borrows more than it brings in through taxes, and so Congress periodically has to authorize an increase to the US debt limit, known as the debt ceiling, which currently sits at more than $31 trillion.
While the probability that policymakers fail to lift or suspend the debt ceiling remains low, the risks of the United States stumbling into a situation where it cannot meet all its financial obligations — known as the “X-date”, rises with every day that passes.
If the US Treasury hits the debt ceiling and — as many analysts predict — it prioritizes debt repayments, it will be forced to pause spending on federal programs that provide crucial financial support to tens of millions of Americans
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