The Bank for International Settlements has published a report titled “Crypto ecosystem: key drivers and risks”, presented to G20 Finance Ministers and Central Bank Governors. This report reviews the key elements of the crypto ecosystem and assesses its structural flaws. It also discusses risks arising from cryptocurrency and examines options to deal with them.
News from Turkey
The Ministry of Treasury and Finance has accelerated its efforts to remove Turkey from the “grey list” of the Financial Action Task Force (FATF). While 5 of the 7 deficiencies identified by the FATF were eliminated, the managers of the relevant Ministries and institutions, under the coordination of the Ministry of Treasury and Finance, held their first meeting on Monday, July 10, regarding the remaining 2 deficiencies.
Fraud News
News from World
Meta, the owner of Facebook, Instagram and WhatsApp, announced that the new artificial intelligence system, known as “Voicebox” and “generating speech”, will not be released yet due to the risk of abuse. Numerous reports state that artificial intelligence can transcribe people’s voices without their consent, and that the recordings can be used in fraudulent activities or to create fake videos.
Protection of Personal Data
News from World
The update to Google’s privacy policy states that artificial intelligence tools can be created using posts and content published online on the internet. In the previous privacy policy, the phrase “language models” was used and Bard and Cloud AI were not mentioned. This change has been interpreted as allowing the collection and use of data published anywhere online.
Competition Agenda
News from World
Microsoft continues negotiations with Activision Blizzard to extend the period. After Microsoft won the case against the Federal Trade Commission to purchase Activision Blizzard, it was stated that the last day to make a deal was July 18. It was noted that Microsoft, which wanted to address the UK’s concerns, wanted to extend the purchasing period a little more.
News from Turkey
The Competition Authority has completed its investigation into DSM Grup Danışmanlık İletişim ve Çözüm Ticaret AŞ (Trendyol). The Competition Board assessed that Trendyol gave an unfair advantage to its own retail activities by interfering with the algorithm and using the data of third-party sellers selling in the marketplace, that these actions made the activities of its competitors difficult and violated the relevant Law, and an administrative fine of approximately 61 million lira was imposed on the said enterprise. It was unanimously decided to impose the penalty.