PayPal has disclosed it received a subpoena from the Securities and Exchange Commission (SEC) tied to its U.S. dollar stablecoin, PYUSD, marking yet another milestone at the intersection of traditional finance and digital currencies, according to reports. As Reuters reported, this significant development follows PayPal’s pioneering move in August, when the tech giant became the first The post PayPal receives SEC subpoena regarding its $156M market cap PYUSD stablecoin – Reuters appeared first on CryptoSlate.

The UK government has announced a significant boost to its artificial intelligence (AI) prowess, with a tripling of its previously announced £100 million investment in its ‘AI Research Resource.’ The £300 million investment, as the Department for Science, Innovation, and Technology reported, is set to bolster the UK’s most advanced computer, Isambard-AI, along with a newly The post UK triples funds for AI supercomputer to £300 million to boost AI safety research appeared first on CryptoSlate.

The UK government aims to establish London as a global blockchain hub. Yet, restrictive cryptocurrency policies implemented by major banks appear to contradict these ambitions, according to a recent report by crypto tax software provider Recap. The report reveals the risk-averse approach adopted by banks has led to blanket bans on crypto transactions, impacting businesses The post Revolut identified as the most crypto-friendly UK bank as 38% of crypto investors leave legacy banks – report appeared first on CryptoSlate.

Government ministers from around the globe gathered today for the world’s first-ever summit on artificial intelligence (AI) safety, held at Bletchley Park, the historic site where Alan Turing cracked the Enigma code during World War II. King Charles of England and Wales also delivered remarks, underscoring the urgency of ensuring AI’s safe and ethical development. The post King Charles decrees ‘rapidly advancing AI’ needs to be ‘safe and secure’ at AI Safety Summit appeared first on CryptoSlate.

The Ethereum layer-2 ecosystem continues to expand and diversify, according to Ethereum co-founder Vitalik Buterin in a recent blog post. As new scaling solutions emerge, Buterin predicts increasing heterogeneity in layer 2 designs based on specific security and cost tradeoffs. Rollups, validiums, sidechains, and other layer-2 constructions offer different balances between decentralization, security, and scalability. The post Vitalik Buterin says Ethereum layer-2 solutions will become more diverse and specialized appeared first on CryptoSlate.