India has ramped up surveillance of crypto transactions in Jammu and Kashmir and other border regions, following security concerns. The Financial Intelligence Unit (FIU-IND) advised crypto platforms to monitor transactions linked to ‘private wallets,’ enabling peer-to-peer transfers without oversight.
The government’s move aims to curb illicit finance and cross-border terror funding, which could be obscured by these transactions. The border region has been a flashpoint, with crypto seen as a tool for bypassing financial routes and supporting terror networks.
Crypto platforms now face heightened scrutiny beyond routine reporting, with specific attention on transactions from border areas. Privacy coins like Monero and Zcash could complicate enforcement, but experts believe the right frameworks can balance privacy and security.
India’s action aligns with global efforts to tackle crypto-financed terrorism. Law enforcement agencies worldwide are increasing scrutiny of digital assets linked to terror groups.
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Amazon has announced a new partnership with Humain, an AI company launched by Saudi Arabia’s Crown Prince Mohammed bin Salman, to invest over $5 billion in creating an ‘AI Zone’ in the kingdom.
The project will feature Amazon Web Services (AWS) infrastructure, including servers, networks, and training programmes, while Humain will develop AI tools using AWS and support Saudi startups with access to resources.
A move like this adds Amazon to a growing list of tech firms—such as Nvidia and AMD—that are working with Humain, which is backed by Saudi Arabia’s Public Investment Fund. American companies like Google and Salesforce have also recently turned to the PIF for funding and AI collaborations.
Under a new initiative supported by former US President Donald Trump, US tech firms can now pursue deals with Saudi-based partners more freely.
Instead of relying on foreign data centres, Saudi Arabia has required AI providers to store data locally, prompting companies like Google, Oracle, and now Amazon to expand operations within the region.
Amazon has already committed $5.3 billion to build an AWS region in Saudi Arabia by 2026, and says the AI Zone partnership is a separate, additional investment.
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Thailand’s Finance Ministry is preparing to launch 5 billion baht ($150 million) in digital investment tokens known as the G-Token within the next two months. The initiative is designed to raise public funds through a new blockchain-based model.
Unlike traditional bonds, the G-Token will not be classified as a debt instrument. Instead, it will form part of the country’s budget borrowing plan and allow direct public participation.
Retail investors will be able to invest small amounts, with potential returns expected to exceed standard bank deposit rates.
The G-Token is expected to comply with all Bank of Thailand regulations and may enhance activity in the secondary bond market by improving liquidity and accessibility. The initial rollout will serve as a trial, with future issuances depending on investor interest.
Thailand’s cabinet has already approved the plan, which supports broader digital asset strategies under the ruling Pheu Thai Party. With the central bank recently lowering interest rates to 1.75%, the government is offering more attractive investment alternatives.
The country is following a growing trend in Asia towards blockchain finance, influenced in part by shifting global policies.
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TikTok has launched ‘AI Alive,’ its first image-to-video feature that allows users to transform static photos into animated short videos within TikTok Stories.
Accessible only through the Story Camera, the tool applies AI-driven movement and effects—like shifting skies, drifting clouds, or expressive animations—to bring photos to life.
Unlike text-to-image tools found on Instagram and Snapchat, TikTok’s latest feature takes visual storytelling further by enabling full video generation from single images. Although Snapchat plans to introduce a similar function, TikTok has moved ahead with this innovation.
All AI Alive videos will carry an AI-generated label and include C2PA metadata to ensure transparency, even when shared beyond the platform.
TikTok emphasises safety, noting that every AI Alive video undergoes several moderation checks before it appears to creators.
Uploaded photos, prompts, and generated videos are reviewed to prevent rule-breaking content. Users can report violations, and final safety reviews are conducted before public sharing.
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Coinbase has invested an undisclosed amount in Canadian stablecoin issuer Stablecorp. The move aims to strengthen the local stablecoin market and make tokenised Canadian dollars more accessible.
During the Blockchain Futurist Conference in Toronto, Coinbase Canada’s Chief Executive Officer, Lucas Matheson, discussed how the exchange would support Stablecorp’s fiat-collateralised stablecoin, QCAD.
Matheson highlighted the need for a Canadian stablecoin due to the country’s lack of peer-to-peer payment systems and costly wire transfers. Stablecoins, he argued, could enable 24/7, instant, and borderless payments, which are already feasible with current technology.
However, adoption faces regulatory challenges in Canada. The country has yet to define a clear framework for fiat-backed stablecoins. Coinbase has urged the government to classify these assets as payment instruments, not securities, in line with US regulations.
Coinbase’s investment comes as Canada continues to navigate its digital asset stance under Prime Minister Mark Carney, who remains critical of cryptocurrencies.
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Harvey, the fast-growing legal AI startup backed early by the OpenAI Startup Fund, is now embracing foundation models from Google and Anthropic instead of relying solely on OpenAI’s.
In a recent blog post, the company said it would expand its AI model options after internal benchmarks showed that different tools excel at different legal tasks.
The shift marks a notable win for OpenAI’s competitors, even though Harvey insists it’s not abandoning OpenAI. Its in-house benchmark, BigLaw, revealed that several non-OpenAI models now outperform Harvey’s original system on specific legal functions.
For instance, Google’s Gemini 2.5 Pro performs well at legal drafting, while OpenAI’s o3 and Anthropic’s Claude 3.7 Sonnet are better suited for complex pre-trial work.
Instead of building its own models, Harvey now aims to fine-tune top-tier offerings from multiple vendors, including through Amazon’s cloud. The company also plans to launch a public legal benchmark leaderboard, combining expert legal reviews with technical metrics.
While OpenAI remains a close partner and investor, Harvey’s broader strategy signals growing competition in the race to serve the legal industry with AI.
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Two US senators, Cynthia Lummis and Bernie Moreno, are urging US Treasury Secretary Scott Bessent to revise how corporate digital assets are taxed. They proposed a change to the definition of ‘adjusted financial statement income’ under the Inflation Reduction Act.
The aim is to reduce the tax burden on firms holding crypto assets.
The Act, which came into force in 2023, introduced a 15% minimum tax on companies earning over $1 billion in profits across three years. Under the current framework, unrealised crypto gains and losses may be included in taxable income.
Lawmakers argue this places US companies at a disadvantage compared to foreign competitors.
Lummis and Moreno assert that the Treasury already has the authority to act, and their proposal would offer relief to firms investing in digital assets. Both senators support crypto, with Moreno elected this year after backing from US crypto campaign groups.
The appeal comes as the Senate prepares for a second vote on the GENIUS Act, a bill aimed at regulating stablecoins. Although an earlier motion failed, Lummis has pledged ongoing support for clearer rules on digital finance.
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Meta has announced that its Ray-Ban Meta smart glasses will go on sale in India starting 19 May, with prices starting at ₹29,990 (approximately $353). The glasses are currently available for pre-order via Ray-Ban’s official website and will be available in Ray-Ban retail stores across the country at launch.
The smart glasses support Meta AI, allowing users to ask questions about their surroundings, send messages, make phone calls, and even translate languages in real time. The AI assistant can process both visual and audio input and operate even while the user is offline.
At present, live translation features are available for English, French, Italian, and Spanish, though Meta has not yet added support for Indian languages. The glasses also integrate with music apps such as Spotify, Apple Music, Amazon Music, and Shazam for on-the-go audio playback.
Meta says it has sold around 2 million pairs globally since the smart glasses first launched in 2023. The debut in India marks a major expansion into a key global market, though support for regional language features remains a limitation for now.
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Microsoft has rolled out Windows 11 Insider Preview Build 26120.3964 to the Beta Channel, marking the official start of the 24H2 version. Available to Insider users starting this week, the update delivers key AI-driven enhancements—most notably, a new agent built into the Settings app and upgraded text actions.
The AI agent in Settings allows users to interact using natural language instead of simple keywords. Microsoft says users can ask questions like ‘how to control my PC by voice’ or ‘my mouse pointer is too small’ to receive personalised help navigating and adjusting system settings.
Initially, the feature is limited to Copilot+ PCs powered by Snapdragon processors and set to English as the primary language. Microsoft plans to expand support to AMD and Intel devices in the near future.
The update also introduces a new FAQs section on the About page under Settings > System. The company says this addition will help users better understand their device’s configuration, performance, and compatibility.
Microsoft is also enhancing its ‘Click To Do’ feature. On Copilot+ PCs with AMD or Intel chips, users can now highlight text (10 words or more) and press Win + Click or Win + Q to access quick AI actions like Summarise, Rewrite, or Create a bulleted list.
These tools are powered by Phi Silica, an on-device small language model. The features require the system language to be English and the user to be signed in with a Microsoft account.
Microsoft notes that Rewrite is temporarily unavailable for users with French or Spanish as their default language but will return in a future update.
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SoftBank Group reported a 124% surge in quarterly profit, driven by booming AI demand that lifted chip sales and startup valuations. Net income reached ¥517.18 billion ($3.5 billion) in the fiscal fourth quarter, with the Vision Fund swinging back to a profit of ¥26.1 billion.
The results provide momentum for SoftBank’s ambitions to invest heavily in OpenAI and US-based AI infrastructure. Plans include a $30 billion stake in OpenAI and leading a $100 billion push into data centres under the Stargate project, which could eventually grow to $500 billion.
However, investor caution amid tariffs and tech protectionism has delayed detailed financing discussions. Despite these hurdles, SoftBank’s chip unit Arm Holdings has benefited from rising global AI investments, even as near-term forecasts remain mixed.
For the full year, SoftBank earned ¥1.15 trillion, reversing a significant loss from the previous year. The company continues to navigate risks tied to the volatile tech start-up market, especially as Vision Fund portfolio firms go public in India.
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