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Ukraine ’s Ministry of Digital Transformation unveiled its strategic plan for regulating artificial intelligence (AI) on October 7. This comprehensive plan, available on the ministry’s official website, aims to equip local businesses with the necessary tools to brace themselves for the eventual adoption of AI legislation, mirroring the European Union’s AI Act. Moreover, it seeks to raise awareness among citizens about safeguarding themselves against potential AI-related risks. The essence of this plan rests on a bottom-up approach, advocating a gradual progression from minimal regulation to more robust oversight. Its primary objective is to empower businesses with the resources needed to preemptively address forthcoming regulatory requirements before they are officially enacted. The roadmap also allocates a preliminary timeframe for companies to adapt to the potential legal changes expected within the next two to three years. Deputy Minister of Digital Transformatio...

Hong Kong is aiming to finalize stablecoin regulation s by mid-2024 , highlighting the territory’s contrasting approach to mainland China.  Legislative Council member Duncan Chiu has signaled that Hong Kong is on track to finalize its stablecoin regulations by mid-2024. The announcement was made at the Shanghai Blockchain International Week, according to a local news outlet.  Hong Kong potentially wants to establish the region as a web3 nexus, driven by regulations and diverging from China’s more restrictive stance on cryptocurrency. Regulatory roadmap for Hong Kong’s stablecoin regulation Chiu revealed that the legislative body is presently in its second consultation phase to formulate guidelines for stablecoin issuers. This marks a significant step in the region’s effort to foster a crypto-friendly environment, as it follows the introduction of a licensing system for cryptocurrency exchanges back in June. The licenses permitted the exchanges to offer...