OMG NEWS OF THE DAY
Microsoft Launches Copilot AI App for Android Users
Microsoft quietly dropped a new standalone AI chatbot app called Copilot into the Google Play Store for Android users. The app, leveraging the power of GPT-4 and DALL-E 3 from OpenAI, combines sophisticated language and image generation capabilities. Copilot offers users a range of AI-enhanced tasks, from answering complex questions to generating visuals and drafting documents. What makes it stand out is its provision of advanced AI features at no cost, marking a strategic shift against subscription-based models like ChatGPT Plus. Microsoft’s Copilot emerges as a potent alternative to established free or integrated assistants like Siri and Google Assistant.
Related: Former OpenAI SEO to Lead Microsoft’s Advanced AI Research Team
Hong Kong to Regulate Stablecoins with Licensing Requirements
Hong Kong has proposed regulating fiat-referenced stablecoins (FRS) through a consultation paper released by the Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority. The proposed legislation requires stablecoin issuers to obtain a specific local license. To qualify, issuers must fully back circulating stablecoins with reserves equal to the par value, ensure segregation and safekeeping of reserve assets, and comply with disclosure and reporting standards. The move aims to manage risks associated with stablecoin development and facilitate the growth of Web3 ecosystems in Hong Kong.
South Korea Mandates Disclosure of Public Officials’ Crypto Holdings
Starting next year, South Korea will require approximately 5,800 high-ranking public officials to disclose details of their cryptocurrency holdings. The move is part of the government’s initiative to enhance transparency in public service. The disclosure, including crypto assets, will be made through the “Public Ethics and Transparency Initiative” system. This decision follows the passage of legislation in May, making crypto assets a mandatory part of annual asset disclosure for elected and high-ranking officials.
Leadership Changes at Grayscale: Barry Silbert Resigns as Chairman
Grayscale Investments, currently awaiting SEC approval for its Bitcoin Trust to become a U.S. spot ETF, has announced the resignation of Chairman Barry Silbert. Mark Shifke, Chief Financial Officer of Digital Currency Group (DCG), will replace him effective January 1. The SEC has delayed several ETF applications, including Grayscale’s. The changes in leadership come amidst legal challenges faced by DCG, the owner of Grayscale, involving allegations of defrauding investors, a charge that DCG and Silbert vehemently deny. The new leadership is expected to steer Grayscale through its next phase of growth responsibly.
Related: SEC’s Potential Approval of 12 Spot Bitcoin ETFs Creates Excitement and… Speculation
TWEETS OF THE DAY
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