Web3 Diaries – French Lawmakers Relax Crypto Bill
French lawmakers have agreed to tone down the restrictions on a bill first proposed in March that would have severely restricted locally-registered cryptocurrency companies from using influencer marketing.
An earlier draft of the bill allowed only licensed crypto companies to engage in influencer marketing. However, while crypto companies are currently required to register with the regulator, none are currently licensed in France nor are they legally required to do so.
On May 25, the French Senate said it reached a unanimous agreement on a bill that aims to regulate promotions by influencers for a wide variety of industries.
Microsoft Urges Lawmakers, Companies To ‘Step Up’ With AI Guardrails
Brad Smith, the president of Big Tech firm Microsoft, has called on governments to “move faster” and corporations “step up” amid a massive acceleration in artificial intelligence development.
Speaking at a May 25 panel in front of United States lawmakers in Washington D.C., Smith made the call as he proposed regulations that could mitigate the potential risks of AI, according to a report from The New York Times.
The company has called for companies to implement “safety brakes” for AI systems that control critical infrastructure and to develop a broader legal and regulatory framework for AI, among other things.
Brazil’s Central Bank Selects 14 Participants for CBDC Pilot
The Central Bank of Brazil selected 14 selected institutions to participate in the pilot of the digital real, the country’s central bank digital currency (CBDC).
Published Wednesday, the list includes major local private banks such as Bradesco, Nubank, and Itaú Unibanco, as well as the largest public Brazilian bank, Banco do Brasil, and the local stock exchange B3.
Multinational companies such as Visa and Microsoft were also chosen to participate.
The central bank will begin incorporating participants into the Real Digital Pilot platform in mid-June 2023.
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