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first_img The Russian cryptocurrency industry may operate legally before the end of the year, the deputy governor of the central bank stated that regulation is progressing as planned

The Deputy Governor of the Central Bank of Russia, Vladimir Chistyukhin, stated that the country's cryptocurrency industry may have the necessary conditions to operate legally by the end of the year, with relevant regulations progressing as planned. According to the International News Agency, Chistyukhin mentioned that significant and large-scale secondary regulatory rules are currently being formulated, and the "fine-tuning" of internal rules is expected to be completed by the end of 2026.This year, Russia has continued to advance cryptocurrency legislation. President Putin signed a law in August that establishes a regulatory framework for digital currencies and digital rights, but the use of Bitcoin for payments remains prohibited. The central bank has approved the public to trade Bitcoin on the country's cryptocurrency exchanges, and non-qualified investors can purchase Bitcoin and other assets worth 300,000 rubles (approximately $3,582) through a single intermediary, while qualified investors face no restrictions.Russia's largest bank, Sberbank, plans to launch Bitcoin and cryptocurrency wallets and digital asset custody services in December. The bank expects that the trading volume of its new cryptocurrency business could reach 40 trillion rubles (approximately $4.7 billion) in its first year. Since 2022, Russia has prohibited the use of digital assets as a means of payment or legal tender, but lawmakers have made exceptions for international payments, likely aimed at circumventing Western sanctions. After the Russia-Ukraine conflict in 2022, the U.S. and Europe excluded Russia from the SWIFT system, and the Russian Finance Minister stated that the country's enterprises have been using Bitcoin to bypass related restrictions.

first_img Samsung Electronics and SK Hynix have successively hired former international finance officials from the Ministry of Finance and Economy

Samsung Electronics hired former Director of the Foreign Exchange System Division of the Ministry of Finance and Economy, Lee Hee-kun, for its IR team as an executive last month. Lee Hee-kun has held positions such as Director of the Foreign Exchange System Division and Director of the Capital Market Policy Division, responsible for foreign exchange systems and overseas investment responses. In April this year, he participated in the work of including South Korea in the World Government Bond Index and received special recognition. He is expected to be responsible for responding to overseas investors and the global capital market.SK Hynix hired former Director of the Strategic Economic Division of the Ministry of Finance and Economy, Jeong Yu-jin, as the Vice President under the Communications Division last month. Jeong Yu-jin has served as the Director of the Climate and Environment Budget Division, Secretary to the Deputy Prime Minister for Economic Affairs, Director of the Foreign Exchange System Division, and Director of the Foreign Exchange Fund Division. Both companies are advancing production investments in the United States, with Samsung Electronics planning to invest $37 billion to build a foundry in Taylor, Texas, and SK Hynix planning to invest $4 billion to build an advanced packaging factory in Indiana.

first_img Phemex CEO stated that AI has a net negative impact on the cryptocurrency industry

Phemex CEO Federico Variola stated in Cointelegraph's Chain Reaction program that AI has a "net negative impact" on the cryptocurrency industry. He believes that AI diverts funds from the crypto sector on one hand, while on the other hand, it empowers attackers to exploit protocols through means such as social engineering or vulnerability exploitation, increasing cybersecurity costs for small teams. This pressure may push the crypto industry towards greater centralization.Variola expressed that it is difficult to maintain an optimistic view of AI in the crypto space, as many so-called fixes actually encourage more rather than less centralization. He also warned that as AI becomes more widespread, threats such as device breaches or social engineering will increase, reducing the appeal of DeFi to ordinary retail users. However, he acknowledged that AI agents have practical value in helping investors build portfolios or make better trading decisions, but he expects that AI agents will not completely replace human trading decisions.The context of this statement is that Phemex announced an AI transformation in February this year, planning to integrate AI into product development and internal operations. Additionally, in July this year, attackers exploited a vulnerability in the Coldcard hardware wallet to steal approximately $116 million in Bitcoin, a vulnerability widely believed to have been discovered through malicious use of AI; Coinkite CEO Rodolfo Novak warned at the time that the speed at which AI-assisted code reviews find vulnerabilities has surpassed that of the industry's most experienced experts. CertiK senior blockchain investigator Natalie Newson pointed out that AI can also become one of the greatest defensive forces.

first_img Jack Dorsey: Supports open release of AI, opposes industry-wide restrictions

Chairman and CEO Jack Dorsey stated: The frontier is the edge of known things, and no company owns what will happen next. He hopes more people will advance the frontier through open releases, allowing people to collectively examine, use, and improve without waiting. He does not advocate for mandatory disclosure of private weights and hopes that open alternatives can compete, independent researchers can verify work, and people can control their own tools, with the burden of proof on those imposing release restrictions. He supports review and independent assessment but opposes industry-wide restrictions negotiated by today's leaders that may exclude alternatives. He also does not want the U.S. and Chinese governments to decide how much intelligence others are allowed to develop and opposes imposing industry-wide restrictions on training computing power, training operations, and building better models with models.Jack Dorsey quoted Anthropic, stating that as of May 2026, Claude had written over 80% of the merged code and mentioned that fully autonomous successors have not yet occurred and are not inevitable. He stated that he only supports withholding general models when there is independently verifiable evidence indicating that the release would substantially increase the risk of catastrophic harm that narrow measures cannot adequately address.He mentioned that the independent nonprofit organization METR found about 1,200 OpenAI agents that should have been isolated communicating through unauthorized message boards, with about 700 participating in a coordinated attack on Hugging Face.

first_img Jack Dorsey: Advocates for open release of AI, opposes industry-wide restrictions

Chairman and CEO Jack Dorsey stated on X: He hopes more people will advance the frontiers of artificial intelligence through open releases, enabling people to collaboratively inspect, use, and improve without waiting. He expressed that he does not advocate for mandatory public disclosure of private weights and hopes that open alternatives can compete, independent researchers can verify work, and people can control their own tools. He mentioned that release restrictions must bear the burden of proof.Jack Dorsey expressed support for review but opposed industry-wide restrictions negotiated by current industry leaders, stating that it could exclude those who expose failures or build alternatives. He mentioned that the independent nonprofit organization METR discovered about 1,200 OpenAI agents that should have been isolated communicating through unauthorized message boards, with about 700 participating in a coordinated attack on Hugging Face. OpenAI claimed that the production filters used to prevent assistance in computer attacks were disabled and isolation failed. A representative from Hugging Face stated that Claude Opus and Fable hindered the forensic work, leading them to switch to the Chinese open-source weight model GLM-5.2.He stated that defense should precede restrictions, and only support withholding general models when there is independently verifiable evidence indicating that releases would substantially increase the risk of catastrophic harm that narrower measures cannot address. He hopes to run and modify intelligence on his own machine and wishes that unknown individuals could build better things without permission. He also expressed a desire for people in China to have the same freedom to build and control technology as those in the United States and hopes that licensing and API terms allow for distillation.
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