The United Kingdom has implemented the Travel Rule for crypto, which requires virtual asset service providers (VASPs) to collect, verify and share information relating to crypto-asset transfers. This rule applies to both inbound and outbound payments, and VASPs must make a risk-based assessment as to whether to make the cryptoassets available to the beneficiary. The Travel Rule was created by the Financial Action Task Force in June 2019 and the U.K. began enforcing it in July 2022.Meanwhile, the former head of the Securities and Exchange Commission believes that a spot Bitcoin exchange-traded fund (ETF) is inevitable. U.S. regulators have also denied blocking AI chip exports to the Middle East, responding to reports from chipmakers that the U.S. government had expanded requirements for export licenses for artificial intelligence chips. The Biden administration has “not blocked chip sales to the Middle East,” according to a report from Reuters. Advanced Micro Devices (AMD) and Nvidia both received letters from regulators requiring them to obtain licenses before selling flagship chips to “some Middle Eastern countries.” The U.S. government is also considering tightening the aforementioned regulations even more, which would further limit the computing power on chips available in the Chinese market.

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Information	Details
Geography	Europe
Countries	🇺🇸 🇬🇧 🇨🇳 🇳🇱 🇯🇵 🇫🇷 🇩🇪
Sentiment	neutral
Relevance Score	8
People	Financial Action Task Force, Jay Clayton, Joe Biden, AMD., Financial Conduct Authority
Companies	Financial Action Task Force, Securities and Exchange Commission, AMD, Nvidia, United Nations, Financial Conduct Authority
Currencies	None
Securities	None