**Hong Kong's HKMA Issues New AI Guidelines for Banks**
The Hong Kong Monetary Authority (HKMA) has rolled out new guidelines for the use of generative artificial intelligence (GenAI) in consumer-facing banking applications. This move aims to protect end-users while enhancing AI-driven services.
Key Points:
- The guidelines build on four pillars: governance, fairness, transparency, and data privacy.
- GenAI is increasingly used for customer chatbots, personalized services, and robo-advisors.
- Banks must ensure transparency and fair outcomes, with senior management held accountable for AI decisions.
Additionally, HKMA has launched a GenAI sandbox in collaboration with Cyberport to test AI applications in finance, offering a controlled environment for innovation.
CHINA UPDATES AML LAWS TO INCLUDE "VIRTUAL ASSETS" AMID CRYPTO UNBAN RUMORS
- China's Supreme Court and the public prosecutor have updated their interpretation of the countryâs Anti-Money Laundering (AML) laws, now officially recognizing "virtual asset" transactions.
- With this update, the AML law, which has been in effect since January 1, 2007, undergoes its first major revision in nearly two decades.
Key Points:
- Recent rumors suggest China might lift its crypto ban. Tron founder Justin Sunâs tweet on August 18, asking about the best meme for a crypto unban, fueled speculation. However, this claim lacks official confirmation.
- Similar speculations have arisen before. Mike Novogratz, CEO of Galaxy Digital, hinted at a possible Bitcoin ban lift by late 2024 but later retracted his tweet, citing the need for more clarity.
- In 2021, China imposed a stringent ban on cryptocurrencies, significantly affecting Bitcoinâs value and leading to a mass exodus of miners.
- The ban was aimed at curbing financial crime and protecting the financial system.
AAVE â Breakout đ
AAVE has been on my radar for weeks, and itâs not hard to see why:
1ïžâŁÂ Strong Performance: Outperformed many altcoins over the past few months.
2ïžâŁÂ Solid Business Model: AAVEâs fundamentals remain robust.
3ïžâŁÂ Rapid Recovery: Bounced back quickly after the recent crash, now up over 70% from its bottom.
But hereâs the big news: AAVE just broke through the crucial $120 resistance.
Aside from a brief attempt in March, AAVE hasnât traded above this level since May 2022. (!!!)
Whatâs Next?
In my view, AAVE could be one of the strongest players in Q3 and Q4. If it can confirm this breakout and push past $145, we might see AAVE heading towards $200+.
Of course, as always, this depends on Bitcoinâs performance.
$AAVE #AaveProtocol
The #STEPNGO Haus is LIVE đ
You can now share your Sneakers with your friends and have them join the fun in the easiest way possible! đ
Guess the best part? It means that ANYONE can now join the STEPN GO Alpha Testing! đ„ł
Letâs dive into the process đ€ż
INVITING A GUEST đ€
When inviting a Guest, you TEMPORARILY LEND your Sneaker to them:
đč Open the Haus menu (top right corner) and click on âLend a Sneakerâ
đč Choose the Sneaker you want to lend
đč Select the lending duration and set up the Energy and profit sharing
An Activation Code will be generated - send it to your Guest, and theyâll receive your Sneaker when entering it in STEPN GO!
đ Once the lending period is over, you will get your Sneaker and the unspent Energy back
đ You can invite up to 5 Guests
INVITING A BUDDY đ
Feeling generous? You can invite a Buddy by GIVING your Sneakers to them:
đč Open the Haus menu
đč Go to âBuddiesâ and click on âGift Sneakersâ
đč Choose the Sneakers you want to send
Share the generated Activation Code with your Buddy, and thatâs it!
đ You must send at least 2 Sneakers to your Buddy
In short: no crypto knowledge needed, your Guests and Buddies only need their FSL ID and your Activation Code to get started! âš
HOW TO BECOME A HOST? đ
Before becoming a Host and inviting your friends, you must complete the Haus Quests:
đč Open the Haus menu and click on âBecome Hostâ
đč Complete the required tasks and click on âOpen Hausâ
Once those steps are completed, youâll be able to generate 1 Activation Code after each 10 Energy used!
đšÂ Remember to update your STEPN GO app to access this new feature!
If youâre not part of the Alpha Testing yet, all you need to do is find an Activation Code to enter someone elseâs Haus! đ
đ Join our Discord to grab one! (link in bio)
To learn more about the #STEPNGOHaus, check out our dedicated how-to guide on our website đ
Ready? STEPN⊠GO!
Can $SOL hit $220 soon? Breaking down the odds of a SOL rally - AMBCrypto Analytics
SOL was trading near $140.76 at press time, below the middle Bollinger Band at $147.49. This suggests potential bearish pressure, with a possible trading range between $167.75 and $127.23 if volatility rises. Traders may use this range to guide their short-term strategies as market conditions shift.
Meanwhile, the Relative Strength Index (RSI) is currently at 42.69, below the neutral 50 level, suggesting that momentum remains on the bearish side.Â
However, the RSI is not in the oversold territory, which means there is still room for further declines or a potential reversal if buying interest picks up. The Chaikin Money Flow (CMF) also shows weak capital inflows, with a slightly negative reading of -0.04, further reinforcing the cautious sentiment among traders.
Dogecoin on the Edge: Analyzing Key Market Levels
#Dogecoin has seen some significant price fluctuations recently, as shown on the 4-hour chart. The meme coin is currently trading near the $0.10472 mark, hovering just below key resistance levels that could determine its short-term trajectory.
Recent closing prices highlight Dogecoinâs attempt to establish a higher ground, but the price momentum appears to be wavering as it approaches critical resistance zones. Specifically, the resistance levels at $0.10636, $0.10748, and $0.10791 are crucial. These levels represent potential barriers for the bulls, and a failure to break through them could result in a pullback to test lower support levels.
On the downside, Dogecoin has established support at $0.10429, $0.1024, and $0.10235. These levels are essential for traders to watch as they could serve as entry points for long positions if the price shows signs of bouncing off these supports. If these levels fail to hold, Dogecoin could experience a deeper retracement, potentially signaling a bearish trend reversal.
Exponential Moving Averages (EMAs) on the 4-hour chart show that Dogecoin is experiencing some short-term bullish momentum, but with caution. The 9 EMA is slightly above the 20 EMA, indicating a possible uptrend. However, the gap between these moving averages is minimal, suggesting that the bullish momentum is not particularly strong.
The Moving Average Convergence Divergence (MACD) indicator, on the other hand, presents a slightly more complex picture. The MACD line has recently crossed above the signal line, typically a bullish signal, but the histogram reveals that this bullish sentiment might be short-lived. The recent contraction of the histogram suggests that the upward momentum is weakening, which could lead to a consolidation phase or even a potential reversal. #DOGE $DOGE #Memecoins #altcoins The full analysis and trade strategy were posted on www.ecoinimist.com.
{spot}(DOGEUSDT)
đšđš Panic Alert đšđš
Whale Dumps $89M in Solana! đđ° Is SOL Headed for a Crash?
Whale Dumps Massive Solana, Investors on Edge! đ„
âĄïžđš Whale's Bold Solana Sell-Off!
In a dramatic turn of events, a crypto whale has offloaded a staggering 20,000 SOL ($2.9M) just 12 hours ago! This is part of a broader selling spree where the whale has sold 614,000 SOL, valued at $89M since January 15th. đ±
âĄïžđŻ Whale's Strategy - Sell, Sell, Sell!
On-chain data shows the whale regularly selling large chunks of SOL, starting from the beginning of the year. This ongoing sell-off is alarming, as it could trigger serious price drops and shake investor confidence. Is this profit-taking or panic-selling? đ€
âĄïžđ Price Impact - Is SOL in Trouble?
These sales have sparked concern among investors. Despite the projectâs strong progress, such large movements by whales can create significant price fluctuations. At $147.13, SOL is still up by 2.67% in the last 24 hours, but how long will this last? đ
Solana traders are watching closely, as the whaleâs moves could tip the balance of the market!
$SOL
{spot}(SOLUSDT)
$PEPE $DOGE
#PowellAtJacksonHole #CryptoMarketMoves #LowestCPI2021 #MarketDownturn #SahmRule
đ Ethereum Gas Fees Hit 5-Year Low! đ
- Ethereum's gas fees have dropped to just $0.13, the lowest since 2019! đ
- Thanks to increased Layer2 activity and the Dencun upgrade, transaction fees are down.
- This could impact ETH supply and prices, but analysts see potential for a price bottom.
đ ETH prices are climbing, hitting $2,662 recently. Could this be the start of a new rally? đ€
Join the conversation! What are your thoughts on ETH's future? đŹđ
#Ethereum #Crypto #DeFi #Layer2 #ETH
đ More insights: https://t.co/TdnkmRATSP
đšđšMarket pump and dump! đš
Whale Trap Alert
A sudden pump and dump in the market can often be the result of a whale trap. This is a tactic where large investors, known as whales, manipulate prices for their benefit. Hereâs how it usually plays out:
1. Pump: Whales buy up a large amount of a cryptocurrency, causing the price to surge rapidly. This spike draws in other investors who fear missing out (FOMO), prompting them to jump in and buy.
2. Dump: Once the price hits a peak, the whales begin selling off their holdings at the inflated price. This causes a sharp decline, leaving those who bought in late with significant losses.
Whale traps take advantage of market volatility and traders' emotions, creating profit opportunities for big players at the expense of smaller investors.
#MarketDownturn #LowestCPI2021 #SahmRule #BinanceTurns7 #BlackRockETHOptions
$NOT
đ°đ Turn $100 into $10,000 with These 4 Altcoins if the Market Rebounds đž
1. NOT
- Current Range: $0.0086 - $0.0129
- Despite a tough week (-8.49%) and a challenging month (-29.57%), NOT has shown impressive resilience with a 450% surge in the past six months. With an RSI of 62.19, the bullish momentum could continue. If it breaks above $0.0149, thereâs potential for a 15% gain. However, holding support at $0.00653 is vital to prevent further decline. NOT remains a strong pick for those looking at potential market rebounds.
đ Introducing CARV: Transforming Data Ownership and Value Creation đ
âš Imagine a world where your data isn't just a commodity, but a priceless asset that you own and control. Welcome to CARVâa groundbreaking protocol reshaping how data is used and shared in the gaming and AI realms.
đ Empowering Data Ownership đ
At its heart, CARV's innovative data layer enables smooth data exchange, fair value distribution, and top-notch privacy. By giving individuals the power to own, manage, verify, and profit from their data, CARV fosters a just and transparent ecosystem that benefits businesses and communities alike.
đ A New Paradigm đ
In this transformative era, data isn't merely collectedâit's owned by its creators. Users have the power to verify the authenticity of their data, control its distribution, and monetize it on their own terms. This creates a vast, trustworthy pool of user-controlled data that businesses can access, boosting trust and collaboration.
đź CARVing The Future Of Data đź
Join the movement and explore the future with CARV!
@carv_official
#CARVingTheFutureOfData
#BinanceWeb3Airdrop
#CARVingTheFutureOfData