Governance

Top tech news stories: May 23, 2024

AuthorSylvia Shen

Reading Time4 min

PublishedMay 23, 2024

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Headline

Context

Dive into legislative debates on digital currencies in the US, major investments like Microsoft’s $1 billion data centre in Kenya, and AI innovations, including Amazon’s revamped Alexa. The U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, aimed at establishing a new legal framework for digital currencies. SEC Chair Gary Gensler criticised the bill for potential regulatory gaps and risks to investors. The Senate’s stance on the bill remains uncertain. ( Reuters )

Evidence

Pending intelligence enrichment.

Analysis

Federal officials have started transferring Sam Bankman-Fried, founder of FTX, to a new prison, despite his preference to remain in New York for his appeal preparations. Although his exact destination is unconfirmed, sources indicate he is being moved to a federal facility in Mendota, California. ( The Wall Street Journal ) WisdomTree and 21Shares are set to launch cryptocurrency-backed exchange-traded products (ETPs) on the London Stock Exchange, having received approval from the UK’s Financial Conduct Authority. ( Aol. ) The European Chips Act is poised to stimulate over €100 billion in private investment into the EU semiconductor industry by 2030, according to European Commission official Thomas Skordas. ( Investing.com ) Saudi Arabia is actively pursuing partnerships with Archer Aviation for potential eVTOL projects in Riyadh and Jeddah, following the company’s significant investment pact in the UAE. ( 933 The Drive )