The popular AI framework Virtuals Protocol will host an in-person meet-up in Hong Kong on Friday, January 17.

On May 3, Brazil’s Central Bank banned the use of stablecoins and cryptocurrencies for cross-border payment settlements. The regulation will take effect October 1.

**May 3 Update** BlackRock has pushed back against proposed reserve asset restrictions tied to the OCC’s draft rules implementing the GENIUS Act, submitting a 17-page comment letter on the final day of the agency’s 60-day comment window (which opened March 2 when the draft published in the Federal Register). The OCC posed more than 200 questions spanning reserve composition, capital requirements, custody, and income restrictions. BlackRock’s comments center on rules governing **Permitted Payment Stablecoin Issuers (PPSI)**—entities authorized to issue stablecoins as federal-chartered firms last July after a Trump-signed law took effect. The firm is urging the OCC to scrap a proposed 20% limit on tokenized reserve assets for PPSI, arguing the cap is “irrelevant” to the agency’s regulatory goals. BlackRock notes risk hinges on an asset’s credit quality, duration, and liquidity—not whether it’s held or transferred via a distributed ledger. This position ties directly to BlackRock

May 3rd — Sequoia Financial Group announced the completion of a strategic investment in WooshPay, a global financial infrastructure and payment platform, per official sources. This move integrates WooshPay’s leading global payment and settlement capabilities with Sequoia’s existing digital asset infrastructure, AlphaToken, to strengthen the group’s financial ecosystem. With this investment, Sequoia aims to strategically position itself amid Hong Kong’s and the global digital finance boom, building a Sequoia digital finance ecosystem centered on “AI + Web3.”

Cerebras Systems is seeking to raise up to $4 billion in its initial public offering (IPO) as market demand for the AI chipmaker and data center operator’s stock heats up, Bloomberg reported Wednesday, citing people familiar with the matter. The California-based company is targeting a valuation of around $40 billion, the sources said, adding they requested anonymity because the details are not yet public. Cerebras is also rumored to kick off its IPO roadshow as early as Monday, per the report. Underwriters have received indications of interest totaling over $10 billion, the sources noted—this comes amid a sharp rally in semiconductor stocks. IPO details, including the offering size, valuation and timing, remain subject to change, the sources added. Cerebras declined to comment on the matter.

According to monitoring from Pulse Beating (as reported by TechCrunch), the Academy of Motion Picture Arts and Sciences (AMPAS)—the organization behind the Oscars—rolled out new award eligibility rules on Friday, with several provisions specifically addressing generative artificial intelligence (AI) use. AMPAS stated only performances exclusively created by human performers and listed in a film’s official credits are Oscar-eligible, requiring they be “achieved through human effort and skill.” Similarly, scripts must be “created by a human” to qualify. The academy also noted it reserves the right to request additional information from filmmakers about AI usage and the “degree of human involvement” in the creative process. These changes come amid a wave of AI-related industry developments: an independent film in production using an AI-generated likeness of Val Kilmer; AI “actor” Tilly Norwood making regular headlines; and concerns from some filmmakers over new video generation mode