Nasdaq futures fell sharply as the rise of China’s DeepSeek, a new AI model using lower-cost chips, undermined investor confidence in the tech sector’s profitability. Major tech stocks, including Nvidia and Tesla, saw significant declines, prompting concerns over capital expenditures among leading companies. DeepSeek’s assistant has quickly gained popularity, surpassing ChatGPT on the App Store, raising questions about the sustainability of current market trends.
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Generated 0 posts last week Malaysia Pursues Digital Innovation and Crypto Regulation After UAE Visit
Malaysian Prime Minister Anwar Ibrahim’s recent visit to Abu Dhabi highlights the country’s focus on digital innovation and potential cryptocurrency regulation, following significant investments from the UAE. As Malaysia seeks to enhance its economic competitiveness through global partnerships, the crypto landscape remains contentious, with regulatory challenges evident in the wake of Binance’s founder’s departure and actions against Bybit’s advertising in the country.
read moreMalaysia Explores Cryptocurrency Policy Following Talks with UAE and Binance Founder
Malaysia is considering a cryptocurrency policy to modernize its financial system, following discussions between Prime Minister Anwar Ibrahim, UAE officials, and Binance founder Changpeng Zhao. Anwar emphasized the need for rapid adaptation to global financial trends, marking a significant shift from traditional practices. Comprehensive studies by various Malaysian authorities will be necessary to address potential concerns and ensure effective implementation of the new regulations.
read moreBlockchain Technology Enhances Sharia Compliance in Financial Services
Blockchain technology is emerging as a key solution for ensuring compliance with Sharia Law in finance, according to Mohemed AlKaff AlHashmi, co-founder of the Haqq Network. With a global Muslim population of around 2 billion, the Sharia finance industry, valued at $4 trillion, faces challenges in verifying halal income sources due to traditional financial system limitations. The demand for Sharia-compliant crypto products is growing, as evidenced by platforms like Marhaba Network and Bybit, which are catering to this market with innovative financial solutions.
read moreBybit Suspends Services in India Amid Regulatory Changes and Seeks License
Bybit has suspended its services in India due to regulatory changes, effective January 12, preventing users from trading or opening new accounts. However, fund withdrawals remain open, and existing derivatives positions will be in “Close-Only” mode. The exchange is actively seeking a license to operate legally in India and expects to resume services soon.
read moreBiden Administration Proposes Regulation for Crypto Wallet Developers Before Transition
A Biden appointee has proposed a rule to hold crypto wallet developers like MetaMask and Phantom liable for fraudulent transactions, aiming to regulate them as financial institutions under the Electronic Funds Transfer Act. This move has drawn criticism from crypto leaders, who argue it unfairly targets wallet providers, likening it to holding hammer manufacturers responsible for misuse. With the incoming Trump administration’s pro-crypto stance, the future of this regulation appears uncertain.
read moreBybit Suspends Trading in India Amid Regulatory Changes
Bybit has announced a temporary suspension of its trading services in India, effective January 12, due to evolving regulatory requirements. While users cannot open new trades or modify existing positions, they can still withdraw funds and close their positions. The exchange is working with Indian regulators to resume operations soon.
read moreBybit Suspends Services in India Amid Regulatory Challenges
Bybit has announced a temporary suspension of its crypto trading services in India, effective January 12, due to regulatory pressures. Users will be unable to open new trades or access certain products, although existing positions can be managed in Close-Only mode. The exchange is working towards obtaining a license to resume operations in India in the coming weeks.
read moreThai Authorities Crack Down on Illegal Bitcoin Mining Operations
Thai authorities have shut down an illegal Bitcoin mining farm in Chonburi, confiscating 996 mining machines linked to electricity theft worth hundreds of millions of baht. The operation, which tampered with its electricity meter, was reported by an insider, prompting a raid by the Provincial Electricity Authority and the Crime Suppression Division. This crackdown is part of ongoing efforts to combat unregistered crypto-mining operations that have caused significant power disruptions in Bangkok and surrounding areas.
read moreLUNA and WUKONG Collaborate to Transform Entertainment with AI and Web3
Virtual idol LUNA, DJ/producer WUKONG, and AI-powered platform MUSIC have partnered to revolutionize entertainment through innovative performances and Web3 integration. This collaboration will feature festival appearances, exclusive airdrops, and co-created music, merging human and virtual artistry while empowering fans in the evolving digital landscape.
read moreEx-BSI Banker Hans Peter Brunner Reveals Truth Behind 1MDB Scandal
Hans Peter Brunner, a former banker embroiled in the 1MDB scandal, details his dramatic arrest and subsequent ordeal in his new book, “The Art of Greed,” which explores the fraud from the perspective of mastermind Jho Low. Despite being cleared in 2021, Brunner’s reputation suffered irreparably, leading to his departure from the banking industry after years of scrutiny and regulatory actions against BSI Bank. He continues to reside in Singapore with his family.
read moreHong Kong Police Disrupt Deepfake Romance Scam Network Targeting Victims
Hong Kong police have seized over HK$34 million (US$3.37 million) from a romance scam operation using AI to impersonate wealthy single women. The investigation led to the arrest of 31 individuals, revealing tactics such as building trust through elaborate personas and high-value interests. Meanwhile, nearly 800 suspects were arrested in Nigeria for similar crypto romance scams, highlighting the growing challenges posed by deepfake technology in fraud cases.
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