Fintech Digest: financial regulators need AI in order to work in modern conditions

Hi, Habr! Today in issue:

• In the US, it is believed that financial regulators need to use AI;
• Banks of the Russian Federation have obliged to notify the Central Bank before telling the press about hacker attacks that have occurred;
• Bitcoin moved forward, there are optimistic forecasts;
• Despite the ban on Bitcoins, there are cryptocurrency "unicorns" in China.

US regulators and artificial intelligence

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Skynet has not yet been invented and is unlikely to create something similar in the near future. However, a weak form of artificial intelligence is already working for the benefit (in most cases) of humanity. AI is involved in the widest range of areas, one of them is finance.

So, now in the United States began a discussion about the need to use artificial intelligence by the financial regulator of the country. According to experts, human specialists can no longer cope with all the necessary workloads, so a digital assistant is needed.

And all because, in the opinion of Congress, the world has already changed dramatically. In order to meet current conditions, it is necessary to change the principles of operation of financial regulators, otherwise they simply will not be able to perform their functions.

The way customers interact with banks has changed dramatically,

- said one of the congressmen.

As far as can be judged, in the near future, US officials will be engaged in the implementation of their plans, and the controlling authorities will start working with AI and Big Data.

Russian banks, hacking and securities

The Central Bank continues to update its strategy for working with Russian banking organizations, as already mentioned in our past digest. Now the Central Bank ordered banks to warn the Central Bank in advance of plans to disclose information about cyber attacks.

The notice can be any - a press release, a conference, a publication on the site. But in order to report a problem, now you need to notify the Central Bank - no later than one business day before disclosure. It is necessary to disclose the date, time and place of publication of the incident.

According to representatives of the Central Bank, the coverage of such events is an important factor in countering intruders. The Central Bank will not coordinate publications; notifications from banks are only information to note, so to speak.

In addition, banks are obliged to report on all spam e-mails with malicious files, as reported by Kommersant. Banks were obliged to transfer information about such messages to the Center for Monitoring and Responding to Computer Attacks in the Credit and Financial Sphere.

Bitcoin is growing again

Bitcoin over the past few days has pleased many - its rate rose to $ 7,500. True, then a slight decrease followed, but more optimism among ordinary users and cryptocurrency traders.

Investor Mark Lasri even stated that the price of Bitcoin could reach the level of $ 40,000 due to the HYIP around the cryptocurrency and an increase in the number of sites that allow it to trade.

Lasri manages the company, whose assets are estimated at about $ 9.6 billion. Earlier, he said that he was very sorry that he hadn’t acquired bitcoin at the time of $ 300.

Most likely, he is not alone.

And the Hurun Research Institute published a list of unicorn companies (that is, those whose capitalization exceeded 1 billion) from China, Hong Kong, Macao and Taiwan, which belong to the cryptocurrency market. For example, Bitmain ranked 13th with a capitalization of 70 billion yuan ($ 10.4 billion). Canaan was rated by giving it 32nd place with a capitalization of $ 3 billion, and Ebang became the third in this warm team with a sum of $ 1.5 billion.