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South Korea, U.S. agree to launch technology prosperity working group

South Korea will launch a working group with the United States to pursue strategic cooperation on technologies including artificial intelligence and research security, the science ministry said on Friday. Science and ICT Minister Bae Kyung-hoon met White House science adviser Michael Kratsios and agreed to form the group to implement an October Korea-U.S. technology prosperity memorandum. The group will include officials and experts and will be coordinated by South Korea’s science ministry and the U.S. State Department.

Crypto

BGD Labs ends ties with Aave DAO, opposes shift of control to Aave Labs

BGD Labs, a core technical contributor to the decentralised finance protocol Aave, will halt its participation in Aave DAO when its current service contract ends on April 1, The Block reported on Thursday. Founded in early 2022, BGD Labs has handled Aave’s core infrastructure for about 4 years. It will continue work through the contract end and publish documentation and maintenance guidelines. The firm cited expanding influence by Aave Labs.

Crypto

U.S. SEC to cut stablecoin collateral haircut to 2 percent

The U.S. Securities and Exchange Commission has issued new guidance allowing broker-dealers to apply a 2 percent collateral haircut to stablecoins they hold, The Block reported on Thursday. The Block said the move effectively lowers regulatory hurdles compared with some brokers’ practice of applying a 100 percent haircut. The SEC’s Trading and Markets division said the guidance aims to reduce burdens when applying customer asset protection rules.