FameEX Morning Crypto News Recap | May 13, 2024

Apple Close to Finalizing Deal with OpenAI for ChatGPT Integration on iPhones

Apple is reportedly close to sealing a deal with OpenAI to introduce ChatGPT features in iPhones, likely within the upcoming iOS 18 update, insiders reveal. Concurrently, Apple is discussing with Alphabet, the parent company of Google, the integration of the Gemini chatbot. These enhancements are expected to significantly elevate the AI functionalities of Apple devices, improving user experience and interaction capabilities.

Crypto Firms Gear Up for Increased SEC and CFTC Oversight After Regulatory Alert

The CFTC has warned of impending enforcement actions against crypto firms amid rising investor interest. The increasing number of investors has driven adoption but also attracted regulatory scrutiny. Regulators are now closely monitoring crypto firms, focusing on market manipulation, investor protection, and the risk of cryptocurrencies being used for illicit activities.

US Authorities Pursue Streamlined Methods to Prohibit AI Exports and Secure Tech Secrets

U.S. legislators introduced a bipartisan bill to support Biden's administration in enforcing export controls on sophisticated AI models. Announced by House Republicans Michael McCaul and John Molenaar, and Democrats Raja Krishnamoorthi and Susan Wild, the bill aims to facilitate the implementation of AI export regulations and ensure they are robust against legal challenges.

Türkiye Plans to Implement New Crypto Asset Regulations to Lower Trading Risks

Turkey plans to introduce legislation to regulate cryptocurrency assets, aiming to align with international standards and mitigate trading risks. The new law will require the Capital Markets Commission to strictly oversee licensing and operations of crypto trading platforms, ensure secure asset custody, maintain transparent relations between platforms and customers, and establish clear penalties for violations.

Ripple CEO Predicts US Government Will Take Action Against Tether, the USDT Issuer

In a recent interview, Ripple CEO Brad Garlinghouse predicted that the US government might target Tether, a prominent stablecoin issuer. He highlighted Tether’s substantial role in the crypto market, yet voiced concerns about potential wider repercussions. Experts believe that if this prediction unfolds, it could lead to significant selling pressure on USDT, drastically reducing its value.

U.S. Base Inflation Likely Slowed in April for the First Time, Still Exceeds Fed's Comfort Level

In April, U.S. underlying inflation is expected to decelerate for the first time in six months, indicating easing price pressures. Core CPI is projected to increase by 0.3% monthly, down from the previous 0.4%, and to record a 3.6% annual rise, the smallest in three years. Despite this slowdown, the pace of inflation remains too fast to meet the Federal Reserve's standards.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​