All articles tagged with #uk regulation
Britain's Ofcom has opened an investigation into Elon Musk's X to assess whether it complies with the Online Safety Act amid reports that Grok, its AI chatbot, is creating non-consensual and sexualized deepfakes of women and children.
The UK government is urging Ofcom to decide within days whether to ban Elon Musk's platform X due to non-compliance with laws, amid concerns over Grok AI being used to create sexualized deepfake images, with calls for stricter regulation and potential access restrictions.
The UK's largest retail investment platform, Hargreaves Lansdowne, warns investors that cryptocurrencies like Bitcoin are not true asset classes and are highly volatile, advising caution despite recent regulatory changes allowing crypto ETNs in tax-free accounts. While some institutional interest remains, the firm emphasizes the risks and lack of intrinsic value in cryptocurrencies, urging investors to consider these factors carefully.
Shares of Alphabet (GOOGL) declined amid UK regulatory threats targeting its mobile ecosystem, as the CMA plans to designate Google and Apple with strategic market status, potentially leading to regulatory actions to increase competition and consumer choice. Despite regulatory pressures, GOOGL remains a strong buy with a consensus price target of $206.51, indicating nearly 8% upside.
The UK is lagging behind other countries like Singapore, Abu Dhabi, and the US in establishing a regulatory framework for stablecoins, risking its competitiveness in financial innovation. While the US advances with the Genius Act and the USDC stablecoin, the UK remains bogged down in bureaucratic delays and risk aversion, missing a key opportunity to lead in blockchain and digital currencies. The author advocates for adopting a more dynamic, light-touch regulatory approach, similar to those in Abu Dhabi and Singapore, to foster innovation and maintain global competitiveness.