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Crypto

Money flows into 'digital dollar' stablecoins, shaking banks and national monetary systems

Stablecoins are spreading as a near real-time, 24-hour tool for moving money, raising concerns they could accelerate outflows from bank deposits and national currencies during financial stress or sharp currency declines. The European Central Bank has flagged potential liquidity mismatches between round-the-clock redemptions and reserve assets that move on traditional settlement schedules. The BIS also found stablecoin flows tend to rise alongside foreign-currency deposits in crisis situations.

AI & Enterprise

National AI Strategy Committee discusses government-wide AI legislative framework centred on AI Basic Law

South Korea's National AI Strategy Committee will set a government-wide legislative direction centred on the AI Basic Law to meet rising demand for AI-related legislation after the law takes effect. It discussed a draft AI legislative framework at its fifth Chief AI Officer meeting in Seoul on Oct. 2. The framework sets four basic directions, including closing defence and security legislative gaps and improving predictability for businesses. Officials also reviewed preparations for the 'AI for Everyone' service due for formal nationwide launch in December.

Industry

Hollywood steps up AI film bets, seen as tool not substitute

Hollywood is accelerating the use of AI in film production, while audiences are increasingly checking whether AI was used in movies. DreamWorks co-founder Jeffrey Katzenberg has unveiled plans to launch an animation studio using AI, saying the technology has improved and could lower production costs. Funding is also flowing into AI-made projects, including a trailer that secured investment for a feature film. Actors and AI producers stress AI should support, not replace, human creators.