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New data shows that 134 countries, representing 98% of global GDP, are currently exploring central bank digital currencies (CBDCs), with 66 in the pilot or development stages. Every G20 country is involved in CBDC efforts, with notable leaders like China and European nations pushing ahead. The United States still lags behind Europe and Japan but is exploring cross-border initiatives like Project Agorá.

Every now and then, we like to mix things up by running a fun experiment with various artificial intelligence (AI) chatbots to predict the future prices of bitcoin, ethereum, gold, and even the 2024 election results. Three months ago, we tested eight different chatbots, asking them to predict where the price of gold and silver would fall by the end of the year. Since gold has seen quite a bit of value increase since then, we figured it was the perfect time to run the experiment again and see what insights the bots could provide this time around.

Brazilian Tax Watchdog Uses AI Tool to Identify Activities Linked to Over $180 Million in Cryptocurrency-Related Tax Fraud

The Federal Revenue Service, Brazil’s tax watchdog, recently revealed that it has been using an internal tool that leverages AI to detect money laundering and tax evasion transactions involving cryptocurrencies. The tool has proven useful in identifying more than $180 million in funds related to the illegal use of cryptocurrencies.

Bitcoin layer two (L2) solutions and sidechains have gained incredible traction this year, with the top ten Bitcoin-based sidechains or L2 protocols now controlling a combined $1.31 billion in value locked (TVL). The latest figures show that over 56% of this total is held in two prominent networks: Core and Bitlayer.
Core and Bitlayer Dominate Bitcoin-Centric Protocols, Holding 56% of Value

On Tuesday, 12 bitcoin exchange-traded funds (ETFs) attracted $186.76 million in inflows, while nine ether ETFs saw another wave of outflows. The main source of ether losses? Grayscale’s ETHE, which has seen $2.75 billion in outflows since July 23.
Bitcoin ETF Shines as Ether Funds Continue to Slip
According to a report by sosovalue.xyz, 12 bitcoin ETFs saw a collective increase of $186.76 million. Fidelity’s FBTC led the way with $56.61 million, followed by Bitwise’s BITB, which added $45.35 million.

The Bank of Russia aims to open its payment infrastructure for Russia’s central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by that date, with smaller institutions to follow. The initiative is aimed at improving payment efficiency and reducing costs, with retailers also being asked to accept the digital ruble. A pilot program is currently underway involving banks, individuals and businesses.

The Nigerian government has filed criminal charges against four individuals and several companies for allegedly conducting illegal cryptocurrency transactions, including converting USDT to naira, without a banking license. The four are Ejiogu A.
Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley and Chukwuebuka F. Ogumba. The defendants are accused of violating the Banks and Other Financial Institutions Act and the Foreign Exchange Act.

New BRICS payment platforms, which offer alternatives to the US dollar and the euro, are attracting global attention, Russian Foreign Minister Sergey Lavrov said. These systems allow countries to conduct economic activities without relying on currencies used as political tools by Western powers. The Russian official noted that there is growing interest in these platforms as a way to avoid US and Western sanctions, with some countries joining BRICS initiatives in search of financial independence.

Saudi minister hints at 86 million tonnes of Petroyuan, says country is 'open to new ideas'

Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, stated that although the yuan – the use of the Chinese currency to pay for oil shipments – is not “critical to the ministry,” the country is open to new ideas and tries not to mix politics and commerce. This is a reference to the use of the yuan for this purpose.

DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) cryptocurrency options and structured bonds trading for institutional clients in the fourth quarter of 2024.
The new service will give institutional investors access to bitcoin and ethereum, the two largest cryptocurrencies by market capitalization.
The initiative aims to provide sophisticated tools for managing digital asset portfolios, including hedging against market volatility.

China’s digital yuan initiative has progressed significantly, backed by more than a decade of research and four years of pilot testing, according to Lu Lei, deputy governor of the People’s Bank of China (PBOC). Trials for China’s central bank digital currency (CBDC) have been conducted in 17 different regions, accumulating a total transaction value of 7 trillion yuan (nearly $1 trillion). In addition, China is collaborating with several countries on a cross-border digital currency project, aimed at improving the global payment system.

Cathedra Bitcoin Inc. has announced a significant shift in its strategy, shifting from bitcoin mining to focusing on increasing its bitcoin holdings. The company aims to increase bitcoins for its shareholders per share through a strategy similar to Microstrategy, which has been recognized for its bitcoin buyback policy.
Bitcoin Cathedra Abandons Mining to Strategically Hoard Bitcoin

Web3 security firm Cyvers detected suspicious transactions on the wallet of Indonesian exchange Indodax on September 11. The attack involved more than 150 transactions and an estimated $20.58 million worth of digital assets were allegedly stolen. Some experts suspect that North Korean hacker group Lazarus Group may have been responsible due to the characteristics of the attack.
Indodax hack shows signs of Lazarus group involvement

Former US President Donald Trump has announced the launch of his family’s cryptocurrency platform, World Liberty Financial, positioning it as an alternative to traditional banks. He encouraged users to join a live event on X next Monday. “We are capturing the future with cryptocurrency and leaving the slow and outdated big banks behind,” Trump said.

Washington state’s financial regulator has issued a warning about potential cryptocurrency fraud involving mining platforms and wallets. A Washington investor was defrauded of more than $750,000 after investing. Although the investment reportedly grew to $1.4 million, the investor has continued to face tax and fee demands.
Washington Investor Defrauded Out of Over $750,000 in Cryptocurrency Mining Scam

A Nigerian anti-corruption agency has frozen bank accounts (over $330,000) belonging to suspected cryptocurrency users on global platforms such as Kucoin and Bybit. The agency believes that these users have been manipulating the Nigerian currency (naira) through their trading activities. The exchanges have also been accused of failing to comply with anti-money laundering and anti-terrorist financing regulations.