Chinese selfie apps giant Meitu sees profits triple in 2023 on back of new generative AI-powered tools

Chinese selfie apps giant Meitu said new image-and-video-editing tools powered by artificial intelligence (AI) helped the company triple its profits last year, in stark contrast to how many other firms struggle to monetise the technology through their own generative AI initiatives. Citing its preliminary assessment of unaudited accounts, Hong Kong-listed Meitu estimated net profit last … Read more

Yet to finalise mechanism for regulating cryptocurrencies: Centre to SC

A view of the Supreme Court. | Photo Credit: ANI The Centre has told the Supreme Court it is yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences. A bench of justices Surya Kant and K.V. Viswanathan was told by Additional Solicitor General Vikramjit Banerjee, appearing for the … Read more

The gold rush is back — and now at a big-box store near you

Warehouse stores in Canada aren’t just selling large quantities of toilet paper these days — gold bars and coins and other precious metals are moving out of the realm of banking and jewellers and into their aisles. With gold hitting record-high prices in recent weeks, the metal’s popularity has been reflected at retailers, too. According to Costco’s chief financial officer, … Read more

China calls for tougher crackdown on use of crypto for illegal forex trading

Chinese authorities have called for a tougher crackdown on the use of cryptocurrencies as a tool for illegal foreign exchange trading in the latest effort to fend off financial risks. Prosecutors and forex regulators were told to strengthen supervision over foreign exchange, and cases where the Tether stablecoin was used as an intermediary to trade … Read more

Crypto Investment Plan by CoinDCX: Long Term Return, Less Risk; Know All About it

Cryptos as payment option will be the future. Under the crypto investment plan, investors will be able to invest a fixed amount in cryptos at regular intervals CoinDCX, India’s first crypto exchange unicorn start-up, on Thursday said it has launched a crypto investment plan (CIP) under which investors will be able to invest a fixed amount … Read more

Bitcoin Regulation: Govt to Bring Law on Cryptos after Global Consensus Emerges

Bitcoin and Ether slightly fell today As of now, legal position of cryptocurrencies is not clear as there is not law in the country to regulate them The government will bring a law on cryptocurrencies only after a global consensus emerges regulating such assets, according to a Bloomberg report quoting sources. It said that the … Read more

Trading In Cryptos? Exchanges Are Facing Payment Issues; Know What’s The Issue

Bitcoin stayed comfortably over the $20,000 levels on Thursday. Crypto exchange Coinbase recently halted rupee transfers to its trading app via UPI Cryptocurrencies, such as Bitcoin, Ether, and Matic, became a hot topic in the country as they delivered huge profits in recent times. However, its hugely volatile nature and grey regulatory status have always … Read more

Five Ways That Crypto Asset Reporting Framework Can Impact Indian Institutions, Investors

India is one of the few early signatories and adopters to the Multilateral Competent Authority Agreement (MCAA) which provides a standardised and efficient mechanism to facilitate automatic exchange of information (Common Reporting Standard or CRS) released by rhw Organization for Economic Co-operation and Development (OECD). It avoids the need for multiple bilateral agreements. CRS was … Read more

Crypto In 2022: The Worst Year For Bitcoin, Ethereum; Is This Beginning of The Fall of Cryptocurrency?

The year 2022 has been the worst year for the cryptocurrencies, the virtual assets including Bitcoin, Ethereum and Polygon saw sharp plunges multiple times in the current calendar year. The year also saw the fall of a major crypto exchange FTX due to the liquidity crisis. In India, crypto exchanges were also raided by authorities. … Read more