The European Central Bank (ECB) is keen to accelerate the creation of the digital euro, particularly following US President Donald Trump’s endorsement of stablecoins linked to the US dollar. ECB board member Piero Cipollone highlighted that Trump’s backing could push European lawmakers to fast-track the legislation for the digital euro. The ECB envisions the digital euro as a central bank-backed online wallet, offering an alternative to major US payment providers like Visa and PayPal.
Despite the European Commission’s proposal for digital euro legislation in June 2023, progress has been slow due to some scepticism in the political and banking sectors. Cipollone remains optimistic that recent developments, including the rise of US stablecoins, will prompt greater urgency from EU lawmakers. He expressed hope that the digital euro legislation could be finalised by summer, allowing for negotiations with the Commission to be wrapped up before November.
Cipollone also raised concerns over the growing use of US stablecoins in Europe, warning that it could lead to a shift of deposits from European banks to the US. He acknowledged bankers’ fears that a digital euro could have a similar effect. Still, he reassured that the ECB would likely limit the amount of digital euros users can hold to prevent destabilisation. Several countries, including Nigeria and China, have already launched central bank digital currencies, while many others, such as Russia and Brazil, are in the testing phase.
The UK government has launched its Code of Practice for the Cyber Security of AI, a voluntary framework designed to enhance security in AI development. The code sets out 13 principles aimed at reducing risks such as AI-driven cyberattacks, system failures, and data vulnerabilities.
The guidelines apply to developers, system operators, and data custodians (any type of business, organisation or individual that controls data permissions and the integrity of data that is used for any AI model or system to function) responsible for creating, deploying, or managing AI systems. Companies that solely sell AI models or components fall under separate regulations. According to the Department for Science, Innovation, and Technology, the code will help ensure AI is developed and deployed securely while fostering innovation and economic growth.
Key recommendations include implementing AI security training, establishing recovery plans, conducting risk assessments, maintaining system inventories, and ensuring transparency about data usage. One of the principles calls to enable human responsibility for AI systems and prescribes to ensure AI decisions are explainable and users understand their responsibilities.
The code references existing standards and best practices for secure software development and security by design, as well as provides useful definitions.
The release of the code follows the UK’s AI Opportunities Action Plan, which outlines strategies to expand the nation’s AI sector and establish global leadership in the field. It also coincides with a call from the National Cyber Security Centre urging software vendors to eliminate ‘unforgivable vulnerabilities‘—security flaws that are easy and cost-effective to fix but are often overlooked in favour of speed and new features.
This code also builds on NCSC’s Guidelines for Secure AI Development which were published in November 2023 and endorsed by 19 international partners.
China’s antitrust regulator is reportedly preparing to investigate Apple’s App Store policies and fees, including its 30% commission on in-app purchases and restrictions on external payment services. The move follows recent measures targeting US businesses, including Google and fashion brand Calvin Klein, just as new US tariffs on Chinese goods emerged. Apple’s shares fell 2.6% in premarket trading following the news.
The investigation, led by the State Administration for Market Regulation, comes after ongoing discussions between Chinese regulators, Apple executives, and app developers over the past year. While neither Apple nor the Chinese antitrust regulator has commented on the matter, the move is seen as part of broader scrutiny of US companies operating in China.
In a separate development, Google was also accused of violating China’s anti-monopoly laws, with experts speculating the probe could be linked to Google’s Android operating system and its influence over Chinese mobile manufacturers. Additionally, China’s Commerce Ministry added PVH Corp, the owner of brands like Calvin Klein, to its “unreliable entity” list.
Coinbase has secured approval from the UK’s Financial Conduct Authority (FCA) to operate as a Virtual Asset Service Provider. The milestone allows the exchange to offer both crypto and fiat services in one of its largest international markets, reinforcing its presence beyond the US.
The FCA has strict regulations for digital asset firms, approving only a limited number of applicants. Coinbase’s successful registration highlights its compliance with UK laws and cements its position as the largest registered digital asset provider in the region. This development follows an inquiry into Coinbase Payments over past regulatory breaches, which have now been resolved.
With this approval, Coinbase can legally facilitate cryptocurrency transactions for retail and institutional clients in the UK. The exchange continues to expand globally, having recently launched services in Argentina and reinstated Bitcoin-backed loans in the US. Coinbase aims to accelerate crypto adoption worldwide, positioning itself as a key player in the digital asset revolution.
OpenAI CEO Sam Altman met with India’s IT Minister Ashwini Vaishnaw on Wednesday to discuss India’s vision of developing a low-cost AI ecosystem. Vaishnaw shared on X that the meeting centred on India’s strategy to build a comprehensive AI stack, including GPUs, models, and applications. He noted that OpenAI expressed interest in collaborating on all three aspects.
Altman’s visit to India, his first since 2023, comes amid ongoing legal challenges the company faces in the country, which is its second-largest market by user numbers. Vaishnaw recently praised Chinese startup DeepSeek for its affordable AI assistant, drawing parallels between DeepSeek’s cost-effective approach and India’s goal of creating a budget-friendly AI model. Vaishnaw highlighted India’s ability to achieve major technological feats at a fraction of the cost, as demonstrated by its moon mission.
Altman’s trip also included stops in Japan and South Korea, where he secured deals with SoftBank and Kakao. In Seoul, he discussed the Stargate AI data centre project with SoftBank and Samsung, a venture backed by US President Donald Trump.
Kaspersky Labs has uncovered a dangerous malware hidden in software development kits used to create Android and iOS apps. The malware, known as SparkCat, scans images on infected devices to find crypto wallet recovery phrases, allowing hackers to steal funds without needing passwords. It also targets other sensitive data stored in screenshots, such as passwords and private messages.
The malware uses Google’s ML Kit OCR to extract text from images and has been downloaded around 242,000 times, primarily affecting users in Europe and Asia. It is embedded in dozens of real and fake apps on Google’s Play Store and Apple’s App Store, disguised as analytics modules. Kaspersky’s researchers suspect a supply chain attack or intentional embedding by developers.
While the origin of the malware remains unclear, analysis of its code suggests the developer is fluent in Chinese. Security experts advise users to avoid storing sensitive information in images and to remove any suspicious apps. Google and Apple have yet to respond to the findings.
Senator Bill Hagerty is set to introduce the GENIUS Act, a bill aimed at creating a clear regulatory framework for stablecoins in the US. The legislation is co-sponsored by Senators Kirsten Gillibrand, Tim Scott, and Cynthia Lummis, with a focus on ensuring all stablecoins are backed by US Treasury bills, dollars, and Federal Reserve notes.
The bill follows previous efforts in Parliament to regulate stablecoins, aligning with similar proposals from both the House and Senate. Supporters argue that regulatory clarity is crucial for the rapidly expanding market, with Tether’s USDT and Circle’s USDC currently dominating the sector. Lawmakers believe the move will help position the US as a global leader in cryptocurrency innovation.
A key requirement of the bill is for issuers to conduct and publish monthly audits to ensure transparency and financial stability. Senator Hagerty has pledged to work closely with House Financial Services Committee chair Rep. French Hill to advance the bill, aiming to bring it to President Trump’s desk for approval.
The European Commission has launched the OpenEuroLLM Project, a new initiative aimed at developing open-source, multilingual AI models. The project, which began on February 1, is supported by a consortium of 20 European research institutions, companies, and EuroHPC centres. Coordinated by Jan Hajič from Charles University and co-led by Peter Sarlin of AMD Silo AI, the project is designed to produce large language models (LLMs) that are proficient in all EU languages and comply with the bloc’s regulatory framework.
The OpenEuroLLM Project has been awarded the Strategic Technologies for Europe Platform (STEP) Seal, a recognition granted to high-quality initiatives under the Digital Europe Programme. This endorsement highlights the project’s importance as a critical technology for Europe. The LLMs developed will be open-sourced, allowing their use for commercial, industrial, and public sector purposes. The project promises full transparency, with public access to documentation, training codes, and evaluation metrics once the models are released.
The initiative aims to democratise access to high-quality AI technologies, helping European companies remain competitive globally and empowering public organisations to deliver impactful services. While the timeline for model release and specific focus areas have not yet been detailed, the European Commission has already committed funding and anticipates attracting further investors in the coming weeks.
Coinbase is calling on US regulators to remove barriers preventing banks from offering crypto services, urging them to confirm that state-chartered banks can provide and outsource crypto custody and execution. The exchange sent letters to key regulatory bodies, including the Federal Reserve and the FDIC, requesting clear guidance on banks’ ability to work with crypto firms. Coinbase argues that current laws already permit such partnerships, but regulatory uncertainty is stopping banks from fully engaging in the sector.
The request comes amid an ongoing legal battle between Coinbase and US agencies, with the exchange accusing regulators of deliberately blocking banks from serving crypto businesses. Last year, Coinbase sued the SEC and the FDIC over alleged efforts to cut off essential banking services to the industry. Some reports even suggest the FDIC pressured banks to pause their crypto activities, despite institutions such as BNY Mellon moving forward with digital asset custody services.
With Donald Trump now in office, the crypto community is watching closely for potential regulatory shifts. Coinbase, which has been strengthening ties with the new administration, sees this as an opportunity to push for a more open banking environment for crypto firms. The exchange remains a major player in the market, serving as the primary custodian for US-based Bitcoin ETFs.
ByteDance, the company behind TikTok, has introduced OmniHuman-1, an advanced AI system capable of generating highly realistic deepfake videos from just a single image and an audio clip. Unlike previous deepfake technology, which often displayed telltale glitches, OmniHuman-1 produces remarkably smooth and lifelike footage. The AI can also manipulate body movements, allowing for extensive editing of existing videos.
Trained on 19,000 hours of video content from undisclosed sources, the system’s potential applications range from entertainment to more troubling uses, such as misinformation. The rise of deepfake content has already led to cases of political and financial deception worldwide, from election interference to multimillion-dollar fraud schemes. Experts warn that the technology’s increasing sophistication makes it harder to detect AI-generated fakes.
Despite calls for regulation, deepfake laws remain limited. While some governments have introduced measures to combat AI-generated disinformation, enforcement remains a challenge. With deepfake content spreading at an alarming rate, many fear that systems like OmniHuman-1 could further blur the line between reality and fabrication.
